Wondfo Q3 Revenues Up 97.67%

Wondfo (300482.SZ) released its third quarter report for 2022. The company's revenue in the first three quarters was CNY 4.696 billion, up 87.32% year-on-year; net profit attributable to the mother company was CNY 1.240 billion, up 97.67% year-on-year; net cash flow from operating activities was CNY 1.077 billion, up 298.59% year-on-year.

In the field of molecular diagnostics, following the successful NMPA approval of the U-Box fully automated nucleic acid amplification analysis system developed by Wondfo in the first half of the year, the fully automated nucleic acid detection analyzer IdyllaTM Systemof the company's subsidiary Wondfo was also awarded the instrument registration certificate. The IdyllaTM System is the first fully-automated, integrated concept in the field of oncology precision medicine in China and is the world's first innovative fully-automated nucleic acid test analysis system that can directly use FFPE samples and blood samples for oncology genetic testing. IdyllaTM System is committed to providing accurate, sensitive and convenient diagnostic and dosing guidance and has developed more than 10 companion diagnostic products to guide the treatment of lung cancer, colorectal cancer and melanoma, with related tests under active registration. The all-in-one POCT U-Card Dx molecular diagnostic products have been chasing orders for sales in overseas markets, and together with the new crown nucleic acid molecular testing related products (virus sampling tubes, nucleic acid extraction reagents, extractors and PCR instruments), revenue has achieved rapid growth.

On top of the WHO's HIV self-test PQ certification and the approval of New Crown's self-test EUL, in September this year, the Company received the approval from the Ministry of Commerce, which recognized the Company as a general contractor for foreign aid material projects. This qualification signifies that Wondfo can participate in foreign aid projects as a general contractor for the Chinese government, which is of great significance to the company in accelerating the pace of its "going out" development, broadening its overseas business model, participating in foreign aid projects at the national level and enhancing its international competitiveness.

Wondfo will carry out strategic layout and business development with the advantage of "being based in China and facing the world", in order to achieve a sustainable growth business portfolio, continuously improve operational efficiency, consolidate the company's competitiveness in the in vitro diagnostics industry, and bring substantial returns to investors with steady performance growth.