(Yicai Global) May 6 -- Shares of BGI Genomics rose after the Chinese gene sequencing giant said it had developed an urgent screening solution in response to the recent outbreak in several countries of a severe hepatitis of unknown origin in children.

BGI [SHE: 300676] closed 3 percent up at CNY66.46 (USD9.95) today, giving it a market cap of about CNY27.5 billion (USD4.1 billion). The broader Shenzhen market fell 2.1 percent.

Some 228 cases of children with unexplained severe acute hepatitis, at least one of whom died, were reported by 20 countries and regions as of May 1, according to the latest data from the World Health Organization. Another 50 suspected cases are being looked into. No cases have bee reported in China so far.

The adenovirus HAdV-41 was found in multiple samples reported by the WHO and it is believed to be the potential cause. But as the outbreak is widespread, it does not fully explain the severity of the clinical cases. According to BGI, other causes are still being studied by health agencies around the world.

After the onset of the Covid-19 pandemic, BGI had significant earnings growth in 2020 thanks to its nucleic acid testing kits. But because of changes in Covid-19 restrictions in some countries, the firm’s net profit sank 30 percent to CNY1.5 billion (USD225 million) last year, with revenue down 19 percent at CNY6.8 billion.

Editor: Futura Costaglione