吉因加冲刺港股，AI多组学玩家能否破局转亏？

Core Viewpoint - The company Geneplus Technology has submitted its prospectus to the Hong Kong Stock Exchange, aiming to go public on the main board, focusing on AI-driven multi-omics technology for precision diagnostics and drug development [1][3]. Company Overview - Geneplus has built one of the earliest large-scale multi-omics baseline databases in the industry, leveraging its self-developed platform to cover the entire chain from biomarker discovery to commercialization [3]. - The company has served over 1,000 hospitals, including 30 of China's top 100 hospitals, and established partnerships with over 200 pharmaceutical companies and 500 clinical research institutions [3]. Financial Performance - The financial data reveals a transition from profitability to losses, with revenues of 1.815 billion yuan in 2022, dropping to 473 million yuan in 2023, and slightly increasing to 557 million yuan in 2024. The net profit shifted from 372 million yuan in 2022 to a loss of 424 million yuan in 2024, with losses further expanding to 414 million yuan in the first half of 2025 [4][6]. - In the first half of 2025, the core revenue source was precision diagnostics, accounting for 77.7% of total revenue [4]. Strategic Investments - The company completed a 300 million yuan Series D financing round before its IPO, with funds primarily allocated for AI multi-omics technology research and expanding its global service network [4][5]. - The strategic shift towards increased R&D investment is aimed at building long-term competitive advantages, despite the current financial losses [6][9]. Market Environment - The Hong Kong market is seen as a favorable platform for biotech companies, with more lenient listing conditions for unprofitable firms compared to the A-share market, making it suitable for innovative companies in the R&D phase [7]. - As of October 2025, Hong Kong has completed 12 biotech IPOs, raising a total of 1.3 billion USD, positioning it as a leading platform for domestic biotech companies seeking overseas listings [6][7]. Industry Trends - The precision medicine sector is experiencing rapid growth, with increasing competition and a rising number of companies entering the capital market [8]. - The integration of AI and multi-omics technology is expanding applications in tumor diagnosis and treatment, supported by favorable government policies for the biopharmaceutical industry [9]. - Geneplus aims to deepen the integration of AI and multi-omics technology, enhancing its core competitiveness in precision oncology [9][10].