Investment Rating - The investment rating for the company is upgraded to "Accumulate" [1] Core Views - The report highlights that geopolitical factors are impacting short-term performance, but there is optimism regarding the launch of new sequencing products in overseas markets and a recovery in the domestic market [1] - The company is facing challenges due to macroeconomic conditions, geopolitical tensions, and increased market competition affecting the sales of sequencing and laboratory automation products [1][2] - Despite the current difficulties, the company is expected to benefit from strategic partnerships and increased demand for innovative products in both domestic and international markets [1][2] Financial Performance Summary - The company's revenue for the first three quarters of 2024 was 1.886 billion, a year-on-year decrease of 15.19%, with a net profit attributable to the parent company of -463 million [1] - Quarterly performance shows that in Q3 2024, revenue was 660 million, down 13.22% year-on-year, and the net profit attributable to the parent company was -165 million, a decline of 65.54% [1] - The company's operating income is projected to decline from 2.911 billion in 2023 to 2.731 billion in 2024, with a forecasted growth rate of -6% [1][4] Profitability and Cost Structure - The report indicates that the company's gross margin for the first three quarters of 2024 was 61.47%, an increase compared to the previous year [1] - The sales expense ratio increased to 33.80%, up 8.38 percentage points year-on-year, while the management expense ratio rose to 21.38%, an increase of 5.42 percentage points [1] - Research and development expenses accounted for 29.61% of total expenses, reflecting a year-on-year increase [1] Future Outlook - The report anticipates that the company's revenue will recover to 3.409 billion in 2025 and reach 4.217 billion by 2026, with expected growth rates of 25% and 24% respectively [1][4] - The company is expected to continue investing in innovative product development and expanding its global distribution channels, which may lead to a rebound in performance [1][2]

(符合预期,海外布局加速推进 20240228; 公司点评报告 ·医药行业 Q3 业绩仍承压,静待国内外订单复苏 2024 年三季报业绩点评 核心观点 ● 事件:公司发布 2024年三季度报告,2024年 1~9 月实现营业收入 18.69 亿 元(-15.19%),归母净利润-4.63亿元,扣非净利润-4.97亿元,经营性现金 流-8.50亿元。2024Q3实现营业收入6.60亿元(-13.22%),归母净利润-1.65 亿元,扣非净利润-1.73亿元。 ● 2024Q3 业绩持续承压,静待国内及海外订单复苏:2024年Q3公司营业 收入同比下降,降幅较2024Q2 略有收窄,主要受宏观环境、地缘政治、市场 竞争等因素影响。公司单季度净利润亏损水平较2024Q2扩大,一方面是收入 规模下降导致成本摊薄效果减弱,进而引起毛利率降低(2024Q3 毛利率为 58.38%,环比-3.49pct/同比-4.66pct);另一方面,公司期间费用率水平有所 提升,其中销售费用率 33.99%(环比+3.58pct/同比+6.92pct),管理费用率 23.36%(环比+5.68pct/同比+6.89pct),研发费用率 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company experienced significant pressure on its performance in Q3 2024, with a 13.22% year-on-year decline in revenue and an increased net loss of 1.65 billion yuan [2][3] - Despite the challenging macroeconomic environment, geopolitical factors, and market competition, the company is expanding its strategic partnerships across various fields, which may support its future growth [3] Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported revenues of 1.869 billion yuan, a decrease of 15.19% year-on-year, and a net loss of 463 million yuan, worsening from previous losses [1] - In Q3 2024, the company achieved revenues of 660 million yuan, down 13.22% year-on-year, with a net loss of 165 million yuan [1][2] Cost and Expenses - The gross margin for Q3 2024 was 58.38%, a decline of 4.66 percentage points year-on-year, while the selling expense ratio increased by 6.92 percentage points to 33.99% [2] - R&D expenses slightly decreased to 201 million yuan in Q3 2024, accounting for 30.49% of revenue [2] Strategic Developments - The company has formed strategic partnerships with several organizations, enhancing its capabilities in immunology research and synthetic biology [3] - New product launches in Q3 2024 included a range of innovative technologies and instruments, indicating ongoing investment in R&D despite financial pressures [2] Earnings Forecast and Valuation - The profit forecasts for 2024 and 2025 have been revised downwards to net losses of 294 million yuan and a profit of 69 million yuan, respectively, with a new forecast for 2026 projecting a net profit of 167 million yuan [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][2] Core Views - The company reported a revenue of 1.869 billion yuan for the first three quarters of 2024, a year-on-year decrease of 15.19%, with a net profit attributable to shareholders of -463 million yuan [1] - In Q3 2024, the company achieved a revenue of 660 million yuan, down 13.22% year-on-year, attributed to weak domestic research budgets and non-essential medical demand, compounded by geopolitical tensions affecting overseas expansion [1] - The company has a strong market position in the domestic market, with expectations for a recovery in domestic demand due to large-scale equipment renewal policies from government departments [1] - The company has established nine major R&D centers, seven production bases, and nine international warehouses globally, enhancing its overseas business layout [1] Financial Summary - For 2024E, the company is expected to generate revenues of 2.727 billion yuan, with a year-on-year decrease of 6.3% [4] - The net profit attributable to shareholders is projected to improve from -607 million yuan in 2023A to -395 million yuan in 2024E, with a year-on-year growth of 35.0% [4] - The gross margin is expected to increase from 59.5% in 2023A to 63.0% in 2024E [4] - The company anticipates a gradual recovery in profitability, with net profits projected to turn positive by 2026E [4][6]

中信证券股份有限公司 关于深圳华大智造科技股份有限公司 2024 年度日常关联交易额度调整的核查意见 上海证券交易所: 中信证券股份有限公司（以下简称"中信证券"）作为深圳华大智造科技股 份有限公司（以下简称"华大智造"或"公司"）首次公开发行股票并在科创板 上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科 创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号—— 规范运作》等相关规定履行持续督导职责，对华大智造 2024 年度日常关联交易 额度调整进行了审慎核查，具体核查情况如下： 一、 日常关联交易基本情况 （一）关于 2024 年度日常关联交易预计额度履行的审议程序 根据华大智造日常关联交易的实际情况，并结合公司业务发展的需要，公司 预计 2024 年度将与关联方发生的日常关联交易总金额不超过 132,564 万元，关 联交易主要内容包括向关联方采购商品及服务、向关联方销售商品及提供服务、 向关联方租赁房屋、向关联方出租房屋、向关联方出租设备及其他收入、支出的 业务。其中，采购商品及服务的关联交易金额为 12,169 万元，销售商品及提供服 务的关联交易金额为 1 ...

中信证券股份有限公司 关于深圳华大智造科技股份有限公司 增加与关联方合作建设金额暨关联交易的核查意见 上海证券交易所: （二）增加关联交易额度履行的审议程序 华大智造于 2022 年 8 月 5 日召开第一届董事会第九次会议、第一届监事会 第九次会议及于 2022 年 8 月 31 日召开 2022 年第二次临时股东大会，审议通过 了《关于与关联方联合竞买土地及合作建设的议案》，同意公司使用自有资金出 资与深圳华大基因科技有限公司（以下简称"华大控股"）、深圳华大科技控股 集团有限公司（以下简称"华大科技控股"）、深圳华大基因股份有限公司（以 下简称"华大基因"）组成联合体（华大控股、华大科技控股、华大基因和华大 智造以下统称"联合体"或"联合体企业"），共同参与竞买位于盐田区大梅沙 盐坝高速以北的 J402-0349 号地块及地上建（构）筑物并共同出资在该地块上进 行项目合作开发建设。本项目将为公司未来研发、日常经营等业务提供充足土地 储备，有利于公司进一步提升研发创新水平，满足公司经营用地及配套设施需求， 进一步拓展公司主业发展空间，增强公司持续发展能力。 预计公司投资总额不超过 14 亿元（以下元均指人 ...

10月30日，华大智造(688114)公布2024年第三季度财报。以核心基因测序业务为坚实底盘，华大智造积 极应对宏观环境波动与国际形势挑战，稳步推进全球市场拓展，2024年前三季度实现营业收入18.69亿 元。 此外，华大智造高度重视前沿技术布局，持续夯实竞争优势，前三季度研发投入5.91亿元，占营业收入 的比例为31.6%。今年9月，华大智造联合华大序风发布纳米孔测序仪新品，成为了全球唯一具备激发 光、自发光、不发光三种不同技术路线测序仪的机构。 为了推动下游应用拓展和科研成果转化，华大智造持续着力提升市场覆盖度和产品可及性，在近期取得 显著进展。根据国家药品监督管理局（NMPA）官网，由贝康医疗、金匙智造、吉因加分别申请的三款 国产基因测序仪在9月30日同日获批三类医疗器械注册证，而三款国产基因测序仪均基于华大智造 DNBSEQ技术。 目前，国内已有36款基因测序仪获NMPA批准可用于临床检测，其中有22款基于华大智造的DNBSEQ测 序技术，为进一步打开中国市场的临床应用提供了丰富的工具。在全球，截至2024年6月30日，华大智 造覆盖的准入市场已超90个，累计获产品认证、医疗器械注册准入362项。 ...

证券代码：688114 证券简称：华大智造 公告编号：2024-074 深圳华大智造科技股份有限公司 关于 2024 年度日常关联交易额度调整的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●本事项无需提交公司股东大会审议。 ●日常关联交易对公司的影响：基于公司及子公司存在与部分关联方企业调 整业务量的情形，公司拟调整 2024 年度部分日常关联交易预计额度。本次调整 日常关联交易额度事项属于公司日常经营活动需要，符合公司实际经营情况，按 照公平、公正、公开原则开展，遵循公允价格作为定价原则，不存在损害公司及 股东利益的情况，也不存在向关联方输送利益的情况，且不会影响公司独立性， 不会对关联方形成较大的依赖。 一、 日常关联交易基本情况 （一）关于 2024 年度日常关联交易预计额度履行的审议程序 根据深圳华大智造科技股份有限公司（以下简称"公司"）日常关联交易的 实际情况，并结合公司业务发展的需要，公司预计 2024 年度将与关联方发生的 日常关联交易总金额不超过 132,564 万元，关联交易主要内 ...

Revenue and Profitability - Revenue for the third quarter was RMB 659.8 million, a decrease of 13.22% year-over-year[2] - Net loss attributable to shareholders for the third quarter was RMB 165.1 million, with a year-to-date loss of RMB 463.4 million[2] - The weighted average return on equity (ROE) for the third quarter was -2.05%, a decrease of 0.97 percentage points year-over-year[2] - The company attributed the increased net loss to macroeconomic factors, geopolitical issues, and market competition, leading to a decline in revenue and gross profit contribution[6][7] - Total revenue for the first three quarters of 2024 was 1,869,062,681.62, down from 2,203,817,662.21 in 2023[22] - Net profit attributable to the parent company decreased to -924,791,840.96 from -461,437,058.06[21] - Net profit loss widened to -466,701,054.62 from -196,914,261.58, an increase of 137%[24] - Total comprehensive income loss increased to -479,109,602.25 from -142,827,114.95, a rise of 235.5%[26] - Basic earnings per share worsened to -1.13 from -0.48, a decline of 135.4%[26] R&D and Expenses - R&D investment for the third quarter was RMB 201.2 million, accounting for 30.49% of revenue, an increase of 2.87 percentage points year-over-year[3] - R&D expenses decreased to 553,504,354.12 from 642,126,015.36[22] - Sales expenses increased to 631,808,342.62 from 560,220,736.96[22] Assets and Liabilities - Total assets as of the end of the third quarter were RMB 9.94 billion, a decrease of 5.84% compared to the end of the previous year[3] - Shareholders' equity attributable to the company was RMB 7.98 billion, a decrease of 7.54% compared to the end of the previous year[3] - Total assets decreased to 9,940,959,112.28 from 10,557,087,161.63[18] - Accounts receivable increased to 1,086,159,718.49 from 695,775,945.95[18] - Inventory decreased to 1,139,000,556.53 from 1,206,339,748.95[18] - Total liabilities increased to 1,950,949,260.35 from 1,882,841,410.63[20] - Long-term loans increased to 487,100,000.00 from 199,400,000.00[20] - Capital reserve increased to 8,835,965,315.87 from 8,780,812,525.92[21] - Total assets impairment loss decreased to -26,522,058.49 from -46,901,134.59, a reduction of 43.5%[24] Cash Flow - The company reported a negative operating cash flow of RMB 850.5 million year-to-date[2] - Cash received from sales of goods and services dropped to 1,521,102,245.41 from 2,155,617,566.18, a decrease of 29.4%[26] - Cash flow from operating activities improved slightly to -850,486,070.21 from -891,616,359.00, a 4.6% reduction in loss[28] - Cash used in investing activities decreased to -387,277,249.35 from -561,880,400.84, a 31.1% reduction[28] - Cash received from financing activities increased to 62,639,911.44 from 38,695,951.80, a rise of 61.9%[28] - Cash inflow from financing activities totaled 365,462,112.32 RMB[29] - Cash outflow from financing activities amounted to 390,272,276.02 RMB[29] - Net cash flow from financing activities was -24,810,163.70 RMB[29] - Cash and cash equivalents at the end of the period were 3,502,632,998.16 RMB[29] - Loans received totaled 300,000,000.00 RMB[29] - Debt repayments amounted to 102,300,000.00 RMB[29] - Dividends, profits, or interest payments totaled 8,264,142.24 RMB[29] - Other payments related to financing activities were 279,708,133.78 RMB[29] - Exchange rate impact on cash and cash equivalents was -7,463,984.91 RMB[29] - Net increase in cash and cash equivalents was -1,270,037,468.17 RMB[29] Shareholders and Equity - The total number of ordinary shareholders at the end of the reporting period is 6,989[9] - Shenzhen Huada Technology Holding Group Co., Ltd. holds 153,001,440 shares, accounting for 36.81% of the total shares[9] - CPE Investment (Hong Kong) 2018 Limited holds 26,378,788 shares, accounting for 6.35% of the total shares[9] - The company completed a share repurchase of 5,397,700 shares, representing 1.2986% of the total shares, with a total expenditure of 349,952,200 yuan[14] - The employee stock ownership plan involved 28 employees, with a total subscription of 36,863,811.90 yuan, corresponding to 1,409,706 shares[15] Miscellaneous - Non-recurring gains and losses for the third quarter amounted to RMB 7.94 million, primarily from government subsidies and asset disposal gains[4][5] - The company's monetary funds as of September 30, 2024, amounted to 3,622,836,644.99 yuan[16] - The company's accounts receivable as of September 30, 2024, amounted to 112,618,818.38 yuan[16] - Interest income decreased to 52,991,433.88 from 70,767,654.12, a decline of approximately 25.1%[24] - Other comprehensive income turned negative to -12,408,547.63 from 54,087,146.63, a significant decline[24]

证券代码：688114 证券简称：华大智造 公告编号：2024-071 深圳华大智造科技股份有限公司 第二届董事会第十次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 深圳华大智造科技股份有限公司（以下简称"公司"）第二届董事会第十次 会议于 2024 年 10 月 29 日以现场结合通讯方式举行。会议通知已于 2024 年 10 月 25 日以邮件方式发出。会议应到董事 10 人，实到董事 10 人。公司董事长汪 建先生因公务不便主持，与会董事一致推举董事牟峰先生为本次会议的主持人。 公司监事、高级管理人员列席了董事会会议。本次董事会会议的召集、召开程序 符合《中华人民共和国公司法》《公司章程》等有关规定的要求。经与会董事审 议和表决，会议形成决议如下： 二、董事会会议审议情况 (一)审议通过《关于〈公司 2024 年第三季度报告〉的议案》 经审议，董事会认为：《公司 2024 年第三季度报告》的编制符合相关法律法 规及《公司章程》的有关规定，报告真实、准确、完整地反映了公司的财务状况 ...