BGI Genomics achieves revenue of CNY 954 million in the first quarter, focusing on lean management to build a foundation for future growth

On the evening of April 25, BGI Genomics released its first quarterly financial results for 2023. The announcement shows that during the reporting period, the Company achieved operating revenue of CNY 954 million and net profit attributable to shareholders of the listed company was CNY 41,348,800. The regular business achieved stable growth overall.

During the reporting period, the operating revenue of BGI Genomics' non-conventional business declined significantly due to the macro environment and industry cyclical demand compared to the same period in 2022; the operating revenue of conventional businesses achieved steady growth compared to the same period in 2022. Among the conventional businesses, revenues from fertility health, tumor prevention and control, infection prevention and control and comprehensive solutions for precision medicine testing related to conventional businesses all achieved solid growth compared with the same period in 2022.

In the past three years, BGI Genomics has accumulated abundant cash through the outstanding contribution of non-conventional businesses, actively invested in R&D and sought opportunities for external development, and continued to consolidate and enhance its core competitiveness. The ratio of R&D investment to operating revenue in the reporting period increased by about 4 percentage points compared with the same period of the previous year.

With years of continuous high investment in R&D, new products in all segments of the Company were approved continuously. During the reporting period, BGI Genomics improved and optimized its product matrix and qualification reserve, which provided important support for the long-term strategic development and steady growth of the Company's performance.

In terms of product development, the Company's PMseq CNV analysis process is newly launched; Alzheimer's disease risk genetic test (APOE genotyping test), early onset coronary heart disease risk genetic test, cardiovascular disease pharmacogenetic test and cognitive impairment disease genetic test products are officially launched.

In the layout of product qualification, the Company has obtained a series of market access qualifications at home and abroad, including in the field of infection prevention and control, the Company's automatic medical PCR analysis system PMEasy Lab and its three supporting infection test kits have obtained the market access qualification of Thailand Food and Drug Administration and Saudi Arabia Food and Drug Administration, and the infectious disease triple test kit has obtained the market access qualification of Australia. In the field of tumor prevention and control, our fecal occult blood test kit (colloidal gold method) has obtained the medical device registration certificate issued by Hubei Provincial Drug Administration.

In the field of tumor prevention and control, the Company has obtained the registration certificate of medical device issued by the Hubei Provincial Drug Administration for a fecal occult blood test (colloidal gold method).

BGI Genomics continues to adhere to source innovation, accelerate technology transformation and product iteration, strive to maintain a leading edge from the R&D end to the market end, and expand its products and technologies globally through engineering empowerment to drive sustainable business development and further consolidate its competitive advantages.