MGI(SH:688114) Di Yi Cai Jing·2026-02-24 04:17Core Viewpoint - The company BGI Genomics is divesting its wholly-owned subsidiary Complete Genomics, Inc. (CGI) to SwissRockets for approximately $50 million, aiming to improve overall profitability and operational efficiency by shedding a loss-making business unit [1][2]. Group 1: Transaction Details - BGI Genomics plans to sell 100% of CGI, which was previously a core overseas operational entity, for about $50 million [1]. - CGI was acquired by BGI Group in 2013 and has been responsible for R&D, production, and sales of sequencing equipment and reagents in North America [1]. - Prior to the transaction announcement, CGI generated cumulative revenue of 474 million yuan in the sequencing segment from 2023 to 2025, accounting for approximately 5.45% of BGI Genomics' total revenue [1]. Group 2: Financial Performance - CGI has faced operational pressures due to geopolitical factors and market competition, resulting in projected net profits of 649 million yuan in 2024 and a loss of 103 million yuan in 2025 [2]. - After excluding non-recurring losses, CGI is expected to incur losses of 289 million yuan and 203 million yuan in 2024 and 2025, respectively [2]. - BGI Genomics reported a net loss of 120 million yuan attributable to shareholders in the first three quarters of 2025 [3]. Group 3: Strategic Adjustments - Following the sale of CGI, BGI Genomics is shifting its operational strategy in North America from direct competition to an indirect participation model through licensing agreements [3]. - The company has granted exclusive licenses for CoolMPS sequencing technology and general sequencing technology to SwissRockets, and will also license StandardMPS technology for the U.S. and Canada [3]. - BGI Genomics retains permanent usage rights for 205 patents related to CGI, ensuring continuity in global business technology [3]. Group 4: Market Environment - The transaction is a strategic response to significant changes in the international business environment and the need for compliance with local regulatory requirements in the U.S. market [4]. - The company aims to establish a compliant operational structure to ensure ongoing business capabilities in North America amidst increasing geopolitical complexities [4]. - Similar to BGI Genomics, WuXi AppTec has also divested parts of its business in response to geopolitical risks, indicating a broader trend among Chinese companies in the biotech sector [4].