On October 30, MGI (688114. SH) announced its financial results for the third quarter of 2024. With the core gene sequencing business as a solid foundation, MGI actively responded to the fluctuations in the macro environment and the challenges of the international situation, steadily promoted global market expansion, and achieved operating income of RMB 1.869 billion in the first three quarters of 2024. In addition, the company attaches great importance to the layout of cutting-edge technologies and continues to consolidate its competitive advantages, with R&D investment of 591 million yuan in the first three quarters, accounting for 31.6% of operating income. In September this year, MGI and BGI released a new nanopore sequencer, becoming the only institution in the world with three different technical routes: excitation, self-illumination, and non-illumination.

According to the National Medical Products Administration (NMPA), the three domestic gene sequencers applied by Beikang Medical, Golden Key Zhizao and Jiyinga respectively were approved for the registration certificates of Class III medical devices on the same day on September 30, and the three domestic gene sequencers are all based on MGI's DNBSEQ technology. At present, 36 gene sequencers in China have been approved by the NMPA for clinical testing, of which 22 are based on MGI's DNBSEQ sequencing technology. Globally, as of June 30, 2024, MGI has covered more than 90 access markets, and has obtained a total of 362 product certifications and medical device registrations.

Under the escort of qualifications, MGI has steadily expanded its marketing network and technical support coverage, and continues to win the trust of users in Chinese mainland, Hong Kong, Macao and Taiwan, Asia-Pacific, Europe and Africa, and the Americas.

In terms of the domestic market, MGI has established a DCS Lab multi-omics frontier laboratory with Fujian Medical University, DecodeDNA, Xuzhenda Biotechnology and other institutions, and opened a new starting point for "SEQ ALL" multi-omics cooperation with Haihe Laboratory of Cell Ecology, and joined hands with Qihe Biotech to open up more possibilities in the field of agricultural gene editing. In the clinical field, the company has reached a global strategic cooperation with Shihe Gene to jointly promote the large-scale early screening project of natural population tumors, and the DCS Lab with Hypros and Geyinga has also been completed to jointly promote the innovation and development of precision medicine.

From July 1, 2023 to June 30, 2024, the company carried out a total of 135 investor exchange activities, received a total of 655 institutions, and recently obtained the highest rating of "A" in the 2023-2024 information disclosure evaluation of listed companies on the Shanghai Stock Exchange. At the same time, the company actively carries out share repurchase and uses real money to convey confidence in development. As of October 9, 2024, MGI has repurchased 5,397,700 shares of the company, accounting for 1.2986% of the company's total share capital, with a total of about 350 million yuan. (Cheng Hongxia).