BGI Genomics(SZ:300676)2025-05-29 04:53Investment Rating - The investment rating for BGI Genomics is maintained at OVERWEIGHT with a target price of RMB 52.19 [1][5][8] Core Insights - BGI Genomics reported a significant decline in net profit for 1Q25, with attributable net profit dropping to RMB -53 million, reflecting a year-over-year decrease of 1,072% [1] - The company is expected to implement expense control measures and leverage AI-driven cost reductions to improve profitability in the future [1][4] - Revenue from the reproductive health segment fell by 2.5% year-over-year in 2024, but there was growth in primary and tertiary prevention services [2] - Multi-omics big data services revenue decreased by 5.6% year-over-year in 2024 due to geopolitical impacts, while precision medicine revenue also saw a decline [3] Financial Performance Summary - For 2024, BGI Genomics reported revenue of RMB 3,867 million, a decrease of 11.1% year-over-year, and a net profit of RMB -903 million [1][12] - The company projects revenues for 2025, 2026, and 2027 to be RMB 4,256 million, RMB 4,738 million, and RMB 5,255 million respectively, with a consistent decline in net profit estimates [5][12] - The gross profit margin (GPM) for 2024 was 41.47%, down from the previous year, and is expected to improve with AI-driven efficiency gains [4][12]