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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  BGI Genomics Co., Ltd.    300676   CNE100003449

BGI GENOMICS CO., LTD.

(300676)
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BGI Genomics : China's BGI forecasts 700% jump in first-half profit due to COVID-19 test kit demand

07/14/2020 | 08:59pm EST
A technician works at a genetic testing laboratory of BGI, formerly known as Beijing Genomics Institute, in Kunming

China's BGI Genomics Co said on Tuesday it expects first-half net profit to be about eight times the amount reported in the same period last year after the global pandemic created a surge in demand for its coronavirus test kits.

China's BGI Genomics Co said on Tuesday it expects first-half net profit to be about eight times the amount reported in the same period last year after the global pandemic created a surge in demand for its coronavirus test kits.

The genomics company, which said it has distributed more than 35 million kits across 180 countries and regions, forecasted a net profit of between 1.53 to 1.63 billion yuan (£173.57-£184.97 million) in the six months to end-June, a jump of around 700% from 198 million yuan a year ago.

The novel coronavirus, which first emerged in China late last year, has to date infected over 13 million people globally and killed more than 575,000.

The purchase of test kits from BGI - Beijing Genomics Institute - which has grown into one of the world's largest genomics companies over the past two decades - has been controversial in some countries.

In May, the Australian government said its purchase of 10 million coronavirus test kits from Chinese genomics company BGI will not risk patient privacy.

BGI Genomics Co is the listed subsidiary of BGI.

(Reporting by Brenda Goh; Editing by Ana Nicolaci da Costa)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BGI GENOMICS CO., LTD. -2.88% 129.29 End-of-day quote.88.20%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.5698 Delayed Quote.-5.45%
All news about BGI GENOMICS CO., LTD.
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08/27BGI GENOMICS : WHO says it is in talks with China's BGI on test kit after Swedis..
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08/26BGI GENOMICS : China's BGI defends COVID-19 test kit after Swedish criticism
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08/24BGI GENOMICS CO., LTD. : half-yearly earnings release
08/05SPECIAL REPORT : COVID opens new doors for China's gene giant
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07/22BGI GENOMICS : Chinese genetics company BGI denies U.S. human rights accusations
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07/21U.S. adds 11 firms to economic blacklist over China's treatment of Uighurs
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07/20U.S. adds 11 firms to economic blacklist over China's treatment of Uighurs
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07/14BGI GENOMICS : China's BGI forecasts 700% jump in first-half profit due to COVID..
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Financials
Sales 2020 8 985 M 1 366 M 1 366 M
Net income 2020 3 530 M 537 M 537 M
Net Debt 2020 - - -
P/E ratio 2020 14,7x
Yield 2020 0,15%
Capitalization 51 212 M 7 770 M 7 787 M
Capi. / Sales 2020 5,70x
Capi. / Sales 2021 9,56x
Nbr of Employees -
Free-Float 100,0%
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Technical analysis trends BGI GENOMICS CO., LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Average target price
Last Close Price 129,29 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Ye Yin General Manager & Director
Jian Wang Chairman
Song Gang Li Chairman-Supervisory Board
Yi Qing Chen Chief Financial Officer
Jun Wang Director
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