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    300676   CNE100003449

BGI GENOMICS CO., LTD.

(300676)
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BGI Genomics : China's BGI defends COVID-19 test kit after Swedish criticism

08/26/2020 | 09:37am EDT

China's BGI Genomics said on Wednesday its coronavirus testing kit has "relatively high accuracy", a day after Sweden said about 3,700 people received false positive results due to a fault in the company's product.

Sweden health authorities said on Tuesday that the test kit, which has been widely exported to other countries, could not distinguish between very low levels of the virus and a negative result.

BGI said devices sensitive enough to detect a smaller amount of the virus would deliver positive results, while less sensitive products would return negative results.

"The company's test has relatively high accuracy and received positive clinical assessment," it said.

The global surge in demand for coronavirus test kits has allowed BGI to expect its net profit to jump about eight times in the first half of this year.

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

(Reporting by Roxanne Liu in Beijing and Miyoung Kim in Singapore; Editing by Nick Macfie)


© Reuters 2020
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Financials
Sales 2021 5 542 M 857 M 857 M
Net income 2021 1 643 M 254 M 254 M
Net Debt 2021 - - -
P/E ratio 2021 28,9x
Yield 2021 -
Capitalization 48 956 M 7 586 M 7 572 M
Capi. / Sales 2021 8,83x
Capi. / Sales 2022 9,76x
Nbr of Employees -
Free-Float 99,0%
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Technical analysis trends BGI GENOMICS CO., LTD.
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price
Last Close Price 118,96 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Ye Yin General Manager & Director
Yi Qing Chen Chief Financial Officer
Jian Wang Chairman
Song Gang Li Chairman-Supervisory Board
Chang Jian Jiang Independent Director
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