MGI(688114)2025-04-29 16:50Financial Performance - The company's operating revenue for Q1 2025 was ¥455,069,160.75, a decrease of 14.26% compared to ¥530,735,953.60 in the same period last year[4] - The net profit attributable to shareholders was -¥133,310,390.96, an improvement from -¥200,985,602.32 year-on-year[4] - The net cash flow from operating activities improved to -¥68,421,328.90 from -¥218,660,254.19 in the previous year[4] - Total revenue for Q1 2025 was CNY 455,069,160.75, a decrease of 14.2% compared to CNY 530,735,953.60 in Q1 2024[20] - Net loss for Q1 2025 was CNY 133,560,304.40, compared to a net loss of CNY 202,266,586.67 in Q1 2024, representing a 33.9% improvement[21] - Operating cash flow for Q1 2025 was negative CNY 68,421,328.90, an improvement from negative CNY 218,660,254.19 in Q1 2024[23] Research and Development - Research and development expenses totaled ¥168,648,860.34, down 16.70% from ¥202,456,558.64, representing 37.06% of operating revenue[5] - Research and development expenses decreased to CNY 136,094,352.68 in Q1 2025 from CNY 202,456,558.64 in Q1 2024, a reduction of 32.7%[20] - The company is focusing on core technology research and product innovation centered around gene sequencing technology to drive breakthroughs in scientific research and clinical applications[13] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,318,540,281.30, a slight increase of 0.04% from ¥10,314,855,725.90 at the end of the previous year[5] - The total assets of the company stood at ¥10,318,540,281.30 as of March 31, 2025, compared to ¥10,314,855,725.90 at the end of 2024, indicating stability in asset levels[18] - Total liabilities increased to CNY 2,581,926,144.13 in the latest reporting period, up from CNY 2,423,155,396.08[19] - Non-current liabilities rose to CNY 1,190,828,893.04, compared to CNY 828,099,509.27 in the previous year, an increase of 43.8%[19] - The company's total equity decreased to CNY 7,736,614,137.17 from CNY 7,891,700,329.82, reflecting a decline of 1.96%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,547[10] - The largest shareholder, Shenzhen BGI Technology Holdings Co., Ltd., held 36.73% of the shares[10] Cash Flow and Investments - As of March 31, 2025, the company's cash and cash equivalents increased to ¥2,754,139,448.44 from ¥2,283,525,148.87 as of December 31, 2024, reflecting a growth of approximately 20.6%[17] - The company received government subsidies amounting to ¥9,858,290.41 during the reporting period[6] - The net increase in cash and cash equivalents was 551,909,550.96 in the prior period[24] - Cash inflow from financing activities totaled 391,271,865.42, reflecting a decrease of 2,518,000,000.00, contributing to the overall cash inflow[24] Product Launches - The company launched the DNBSEQ-AIO sequencing machine in January 2025, which automates the sequencing process and is designed for use in grassroots hospitals and local disease control centers[13] - In February 2025, the DNBSEQ-E25 Flash sequencing instrument was introduced, achieving a base calling speed of 25 seconds per cycle and capable of completing monkeypox virus genome sequencing in as little as 9 hours[14] - The α Cube data center machine was launched in March 2025, featuring high-performance computing capabilities and a modular architecture for various applications in bioinformatics[15] - The MGISTP-B1000 system was introduced for precise blood sample processing, enhancing efficiency in various applications including disease prevention and clinical testing[16] Cost Management - The company implemented a "cost reduction and efficiency enhancement" strategy, leading to a decrease in personnel and material costs[8]