As of 31 October, 2024, all mainland-listed Chinese IVD companies have released their third-quarter financial reports. This summary provides insights into 50 main IVD enterprises and 20 IVD-related enterprises for reference. Notably, Hong Kong-listed companies are not included.
Classification of Companies
Main IVD Companies: These are companies with in vitro diagnostics (IVD) revenue constituting over 50% of their total revenue. For example, Wantai is included due to its 53.01% IVD revenue share.
IVD-Related Companies: Companies like Andon with IVD contributing less than 50% of total revenue fall under this category.
Key Financial Highlights
1. Main IVD Companies (50 Companies)
The 50 main IVD enterprises’ Q3 revenue totaled 22.09 billion yuan, with revenue from the start of the year to the end of Q3 totaling 67.88 billion yuan. Their Q3 net profit was 1.81 billion yuan, while net income from the beginning of the year to the end of Q3 reached 6.68 billion yuan. Net cash flow from operating activities for the same period was 4.74 billion yuan.
The top 10 companies by Q3 revenue are: Dian Diagnostics, Runda Medical, KingMed Diagnostics, Snibe, Autobio, Sinocare, BGI Genomics, Maccura, MGI, Wondfo.
Although Innovita ranked 40th by Q3 revenue, its year-on-year growth rate led the sector at 81.86%.
For the first three quarters, the top 10 companies by revenue were: Dian Diagnostics, Runda Medical, KingMed Diagnostics, Snibe, Autobio, Sinocare, BGI Genomics, Wondfo, Wantai BioPharm, Maccura.
Notably, Innovita and Sansure, ranking 33rd and 20th by revenue, had the highest year-on-year growth rates in the first three quarters at 87.05% and 63.24%, respectively.
Total net profit in Q3 was 940 million yuan, with Innovita, Alltest, Tellgen, Hotgen and Berry Genomics all achieving significant year-on-year growth above 100%.
Total net profit for the first three quarters reached 5.16 billion yuan, with Snibe leading at 1.38 billion yuan. Innovita, Bioperfectus, Berry Genomics also saw substantial year-on-year growth, each exceeding 100%.
Operating cash flow for the first three quarters totaled 4.74 billion yuan, with 24 companies showing an increase from last year. Among them, Wondfo, Innovita, Alltest, Berry Genomics, Biotest Biotech and Bioperfectus each achieved growth of more than 100%.
2. IVD-Related Companies (20 Companies)
For the 20 IVD-related companies, Q3 revenue totaled 31.426 billion yuan, while revenue from the start of the year to the end of Q3 reached 98.439 billion yuan. Third-quarter net profit totaled 4.228 billion yuan, with YTD net profit reaching 17.819 billion yuan. Net cash flow from operating activities from the beginning of the year to the end of Q3 totaled 18.312 billion yuan.
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