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    300676   CNE100003449

BGI GENOMICS CO., LTD.

(300676)
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China's BGI wins 1.5 mln coronavirus test kit order from Ethiopia

09/23/2020 | 03:07am EDT

BEIJING, Sept 23 (Reuters) - Ethiopia has agreed to purchase 1.5 million coronavirus testing kits that will be manufactured at a factory in the African country that has been newly built by China's BGI Group, China's state media agency Xinhua said late on Tuesday.

The BGI factory, the first coronavirus test production facility in Ethiopia that opened earlier this month, is designed to be able to make 6-8 million tests in a year and can expand the annual capacity to up to 10 million in accordance with local demand, Xinhua reported.

BGI, which makes genome sequencing and medical devices, is hoping to use its footprint in Ethiopia in expanding its supplies to other African countries, Xinhua quoted a BGI official as saying in a separate report on Wednesday.

BGI did not immediately respond to a request for comment.

BGI Group's unit BGI Genomics had said it supplied over 35 million coronavirus testing kits overseas and built 58 labs in 18 countries as of June 30.

The Ethiopia factory could be later converted to make test kits for HIV, malaria and tuberculosis once the COVID-19 pandemic ends, Xinhua said.

Ethiopia, one of the countries that has the most new daily infections on average in Africa, has reported 69,709 infections and 1,108 coronavirus-related deaths since the pandemic began. https://tmsnrt.rs/32UVHhm (Reporting by Roxanne Liu and Tony Munroe in Beijing, Editing by Raju Gopalakrishnan)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BGI GENOMICS CO., LTD. -2.98% 119.56 End-of-day quote.-7.00%
DOW JONES AFRICA TITANS 50 INDEX -0.45% 548.97 Delayed Quote.3.58%
S&P AFRICA 40 INDEX -0.52% 179.6 Delayed Quote.3.65%
All news about BGI GENOMICS CO., LTD.
04/27BGI GENOMICS  : Ethiopian Launches High - End Covid-19 Testing Lab
AQ
04/26BGI GENOMICS  : Ethiopian Launches High-End COVID-19 Testing Lab at its Hub
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04/26BGI GENOMICS  : Ethiopian Opens Covid-19 Testing Lab
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04/23BGI GENOMICS  : Ethiopian Launches High-End COVID-19 Testing Lab at its Hub
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03/19BGI GENOMICS  : Angola Considers Covid-19 Vaccine Card
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02/22MARKET CHATTER : Chinese Government Invests in Gene Company BGI Genomics
MT
02/21Chinese state fund invests in gene firm BGI
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02/10China's coronavirus anxiety super-charges testing business in holiday season
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01/30BGI GENOMICS  : China gene firm providing worldwide COVID tests worked with Chin..
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2020China's BGI wins 1.5 million coronavirus test kit order from Ethiopia
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Financials
Sales 2021 5 542 M 866 M 866 M
Net income 2021 1 643 M 257 M 257 M
Net Debt 2021 - - -
P/E ratio 2021 29,1x
Yield 2021 -
Capitalization 49 009 M 7 659 M 7 662 M
Capi. / Sales 2021 8,84x
Capi. / Sales 2022 9,77x
Nbr of Employees -
Free-Float 99,0%
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Number of Analysts 1
Average target price
Last Close Price 119,56 
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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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