Core Viewpoint - Shenzhen BGI Intelligent Manufacturing Technology Co., Ltd. reported on the management and usage of raised funds for the first half of 2025, detailing the total amount raised, its allocation, and the current balance of funds [1][3]. Fundraising Overview - The total amount raised from the initial public offering (IPO) was approximately RMB 3.60 billion, with a net amount of RMB 3.31 billion after deducting issuance costs [1][3]. - As of December 31, 2024, the balance of the raised funds was RMB 1.82 billion, which decreased to RMB 1.67 billion by June 30, 2025, after accounting for usage and interest income [1][2]. Fund Usage and Management - The company has established a fundraising management system to ensure proper storage and usage of the funds, adhering to relevant regulations [1][3]. - The company signed tripartite and quadripartite agreements with its sponsor and banks to regulate the management of the raised funds [1][3]. Fund Allocation - The actual usage of the raised funds for the reporting period was RMB 39.11 million, with a cumulative total of RMB 1.57 billion used to date [3][4]. - There were no instances of using idle funds for temporary working capital or for repaying bank loans during the reporting period [3][4]. Project Status and Adjustments - The company completed the investment projects "BGI Intelligent Manufacturing Information System Construction" and "BGI Intelligent Manufacturing Marketing Service Center Construction," leading to a decision to permanently supplement working capital with the remaining funds [3][4]. - The timeline for the "BGI Intelligent Manufacturing and R&D Base Project" has been extended to March 2026 due to construction delays [3][4]. Financial Management - The company has engaged in cash management for idle funds, investing in high-security and liquid financial products, with a total of RMB 868 million allocated to various structured deposits [2][4]. - The company reported an investment income of RMB 16.28 million from these financial products, which has been returned to the fundraising account [4][6].

Core Viewpoint - The company has announced a stock incentive plan involving the grant of 6.555 million restricted stocks, accounting for 1.58% of the total share capital, aimed at enhancing corporate governance and retaining talent [1][3][5]. Summary by Sections Stock Incentive Plan Purpose and Principles - The purpose of the incentive plan is to improve corporate governance, establish a long-term incentive mechanism, attract and retain talent, and align the interests of shareholders, the company, and employees [1][3]. Stock Incentive Method and Source - The incentive method involves the issuance of second-class restricted stocks, sourced from repurchased shares or newly issued A-shares directed to incentive recipients [3][4]. Number of Rights Granted - The plan proposes to grant a total of 6.555 million restricted stocks, representing 1.58% of the company's total share capital of 41.56376 million shares [1][5]. Determination of Incentive Recipients - Incentive recipients include directors, senior management, core technical personnel, and key business staff, excluding independent directors and supervisors [4][5]. Distribution of Restricted Stocks - The distribution of restricted stocks among recipients is detailed, with 97.25% allocated to business backbone personnel [5]. Validity Period of the Incentive Plan - The plan is valid from the date of stock grant until all granted stocks are vested or become invalid, with a maximum duration of 36 months [6]. Granting and Vesting Conditions - The grant price for the restricted stocks is set at 26.15 yuan per share, with specific conditions for granting and vesting based on performance metrics [9][10]. Performance Assessment Metrics - The performance assessment will consider revenue growth excluding impacts from public health events, with specific targets set for the years 2024 and 2025 [12][13]. Accounting Treatment and Impact on Financial Performance - The plan's implementation will affect the company's accounting costs, with estimated expenses to be amortized over the vesting period [23][24]. Rights and Obligations of the Company and Recipients - The company retains the right to cancel unvested stocks if performance conditions are not met, while recipients must fulfill tax obligations related to the granted stocks [25][26].

Core Viewpoint - Shenzhen BGI Genomics Co., Ltd. plans to revise its 2024 restricted stock incentive plan and employee stock ownership plan to enhance employee motivation and align with the company's strategic goals in the context of the evolving market environment [10][11]. Summary by Sections Incentive Plan Overview - The incentive plan involves granting restricted stocks to key personnel, including directors, senior management, and core technical staff, to align their interests with the company's long-term performance [1][4]. Necessary Procedures - The company has followed necessary procedures, including board meetings and shareholder approvals, to implement the incentive plan and employee stock ownership plan [5][6][7]. Revision Reasons - The revision is driven by the need to adapt to changes in the external environment and to focus on increasing market share in the gene sequencing equipment sector, which is critical for long-term revenue growth [10][11]. Revised Performance Metrics - The revised performance metrics will include non-related party gene sequencing instrument sales as a key performance indicator, aiming to enhance the company's competitive position and employee engagement [11][12]. Conclusion - The independent financial advisor confirms that the revisions to the incentive plan and employee stock ownership plan have met the necessary review and disclosure obligations and are pending shareholder approval for implementation [14][15].

Core Viewpoint - The company has revised its 2024 Restricted Stock Incentive Plan and Employee Stock Ownership Plan to enhance employee motivation and align with its strategic goals, particularly focusing on increasing market share in the gene sequencing industry [1][11]. Group 1: Decision Process and Disclosure - The company has completed the necessary decision-making procedures and disclosures for the 2024 Restricted Stock Incentive Plan and Employee Stock Ownership Plan, which require approval from the shareholders' meeting to be implemented [2][12]. - The supervisory board has verified the related matters of the incentive plan and provided relevant opinions [4][11]. Group 2: Reasons for Revision - The revision aims to adapt to changes in the external environment and the company's actual situation, adding performance assessment indicators related to the sales volume of gene sequencers excluding related parties [6][10]. - The company believes that capturing market share in gene sequencer sales is crucial for driving subsequent reagent sales and revenue growth [6][10]. Group 3: Revised Content - The revised performance assessment indicators now include the sales volume of gene sequencers excluding related parties, with specific targets set for the first and second vesting periods [7][9]. - The performance completion rates and corresponding vesting ratios have been adjusted to reflect the new assessment criteria [8][9]. Group 4: Impact of Revisions - The revisions are expected to effectively motivate employees and support the company's strategic and operational goals without adversely affecting its financial status or operational performance [11][12]. - The adjustments are designed to enhance the company's competitiveness and market coverage, particularly in the context of increasing pressure from macroeconomic factors and competition [10][11].

深圳华大智造科技股份有限公司 深圳华大智造科技股份有限公司（以下简称"公司"）为进一步完善公司法 人治理结构，健全公司的长效激励约束机制，吸引留住优秀人才，充分调动公司 员工的积极性，有效将股东利益、公司利益和员工利益三者紧密结合，共同促进 公司的长远发展，确保公司发展战略和经营目标的实现，公司拟实施 2024 年限 制性股票激励计划（以下简称"股权激励计划"或"限制性股票激励计划"）。 为保证股权激励计划的顺利实施，现根据《中华人民共和国公司法》《中华 人民共和国证券法》 《上市公司股权激励管理办法》 《上海证券交易所科创板股票 上市规则》《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等有 关法律、法规和规范性文件以及《深圳华大智造科技股份有限公司章程》、公司 《2024 年限制性股票激励计划（草案修订稿）》的相关规定，并结合公司的实际 情况，特制定 2024 年限制性股票激励计划实施考核管理办法（修订稿） （以下简 称"本办法"）。 一、考核目的 进一步完善公司法人治理结构，建立和完善公司激励约束机制，保证公司 进而确保公司发展战略和经营目标的实现。 二、考核原则 考核评价必须坚持公正、公开 ...

深圳华大智造科技股份有限公司 第一章 总则 第二条 持股计划的基本原则 第一条 为规范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"） 施，根据《中华人民共和国公司法》（以下简称"《公司法》"）《中华人民共和国 证券法》以下简称"《证券法》"、中国证监会《关于上市公司实施员工持股计划试 点的指导意见》（以下简称"《指导意见》"）、《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》（以下简称"《自律监管指引第 1 号》"）等 相关法律、行政法规、规章、规范性文件和《公司章程》《深圳华大智造科技股份 有限公司 2024 年员工持股计划（草案修订稿）》之规定，特制定《深圳华大智造 科技股份有限公司 2024 年员工持股计划管理办法（修订稿）》（以下简称"本办法" 或"《持股计划管理办法》"）。 第二章 持股计划的制定 （一）依法合规原则 公司实施持股计划，严格按照法律、行政法规的规定履行程序，真实、准确、 完整、及时地实施信息披露。任何人不得利用持股计划进行内幕交易、操纵证券市 场等证券欺诈行为。 （二）自愿参与原则 公司实施持股计划遵循公司自主决定，员工自愿参加，公司不以摊派、强行 ...

Core Insights - BGI Genomics (688114) reported strong growth in its three main business segments: long-read sequencing (SEQALL), intelligent automation (GLI), and multi-omics (OMICS) despite challenging external conditions [1][2] - The company achieved a record sales volume of over 700 long-read sequencers in the first half of 2025, marking a significant year-on-year increase of 60.35% [1] - The G99 sequencer demonstrated strong competitive advantages in clinical applications, with reagent revenue increasing by 21.97% [1] Segment Summaries Long-Read Sequencing (SEQALL) - Sales volume exceeded 700 units, achieving a historical high for the same period [1] - The market share for nanopore sequencers in the domestic bidding market doubled compared to the previous year [1] - The E25 model showed exceptional performance with equipment revenue increasing by 361.44% and reagent revenue by 585.91% [1] Intelligent Automation (GLI) - Revenue for GLI reached 112 million yuan, with over 130 new sales [2] - The integration of artificial intelligence technology in life science tools has been deepened, with the launch of the self-developed PrimeGen [2] Multi-Omics (OMICS) - Adjusted revenue for OMICS experienced a significant growth of over 40% year-on-year [2] - The cell-omics platform is expanding into overseas markets through product upgrades and a collaborative marketing strategy [2] Strategic Outlook - BGI Genomics is positioned to expand its leading advantage amid the domestic replacement trend, supported by favorable policies and a robust technological barrier [2]

Group 1 - The core business revenue for the first half of 2025 reached 1.091 billion yuan, with a net profit attributable to the parent company reducing losses by 65.28% year-on-year [1] - The long-read sequencing business saw over 700 new instrument sales, a year-on-year increase of 60.35%, marking a historical high for the same period [1] - The company achieved a 37.55% year-on-year reduction in net profit loss after deducting non-recurring items [1] Group 2 - The company has reduced its operating expenses (excluding financial costs) to 827 million yuan, a decrease of 17.04% compared to the same period last year [1] - The company collaborates with over 50 suppliers to enhance core material efficiency, leading to a 25% overall improvement in the supply chain [1] - The global spare parts delivery timeliness rate has improved to 90%, with the China region achieving 91.04%, maintaining a 72-hour delivery cycle [1] Group 3 - The company is advancing its laboratory intelligent automation (GLI) business by leveraging artificial intelligence technology to reconstruct its automation processes [2] - An AI closed-loop solution covering the entire "Design-Build-Test-Learn" process has been developed, significantly compressing the traditional research and development cycle [2] - The transition from manual experience-based decision-making to data-driven approaches in laboratories is being accelerated through these innovations [2]

Core Insights - Huada Zhizao reported a significant reduction in net loss by 65.28% year-on-year for the first half of 2025, with main business revenue reaching 1.091 billion yuan [1] - The company achieved a historical high in instrument sales, with over 700 units sold, marking a 60.35% increase year-on-year [1] - Operational efficiency improved, with a 37.55% reduction in net loss after deducting non-recurring items [1] Business Performance - Main business revenue for the first half of 2025 was 1.091 billion yuan, with a notable reduction in net loss [1] - The company’s operating expenses (excluding financial costs) decreased by 17.04% to 827 million yuan [1] - The core long-read sequencing business remains a key growth driver for the company [1] Supply Chain and Production - The company collaborated with over 50 suppliers to enhance core material efficiency, achieving a 25% improvement in overall supply chain efficiency [1] - Global spare parts delivery rate improved to 90%, with the China region reaching 91.04% [1] - The company maintains a leading position in the industry with a 72-hour delivery cycle [1] Technological Advancements - Huada Zhizao is advancing its laboratory automation business through AI technology, restructuring its operations to enhance efficiency [2] - The company developed an AI closed-loop solution covering the entire "Design-Build-Test-Learn" process, significantly reducing R&D cycles [2] - The integration of AI tools supports a transition from manual decision-making to data-driven processes in laboratories [2]

Summary of BGI Genomics Conference Call Company Overview - BGI Genomics is a leading company in the field of gene sequencing, benefiting from import substitution and technological innovation, with stable growth in core business and an increase in the proportion of reagent consumables to 60%, which helps improve overall gross margin [2][5][7] Core Business Insights - The company has reduced production costs and improved gross margins through self-production of raw materials and optimization of AI algorithms, while actively digesting excess inventory from the pandemic period to improve financial conditions [2][7] - The cost of gene sequencing continues to decline, with diminishing marginal effects from hardware optimization, leading to a greater reliance on AI technology for efficiency improvement, cost reduction, and quality control [2][10] Technological Advancements - BGI's second-generation sequencing technology uses rolling circle amplification, avoiding error accumulation from PCR, thus improving testing accuracy, particularly excelling in long-read sequencing with single-end 600BP sequencing reagents achieving Q40 [2][12][14] Market Position and Competition - Following sanctions on Illumina by the Chinese Ministry of Commerce, BGI is expected to dominate the incremental market, although there remains significant replacement potential in the existing market, with a market share of approximately 40% [2][20] - The company has achieved stable growth in the domestic market due to ongoing import substitution, while overseas market growth has faced challenges due to geopolitical factors, although these issues have recently been alleviated [6][34] Financial Performance - The core gene sequencing business maintains a stable gross margin of around 60%, with further improvement potential. The company has gradually promoted self-production of raw materials and developed proprietary AI protein design algorithms to enhance selection efficiency [7][34] - Despite high expenses due to inventory and accounts receivable impairments during the pandemic, the reduction in accounts receivable has improved quality, leading to lower impairment pressure [7] Industry Outlook - The gene sequencing industry has significant growth potential, being fundamental to biomedicine, with applications in agriculture, industry, research, and health [8] - The decline in sequencing costs is driven by the speed of Moore's Law and the large-scale commercialization of second-generation sequencing technology, particularly by Illumina [10] Applications and Future Trends - The downstream applications of gene sequencing are expanding, particularly in tumor early screening, companion diagnostics, and minimal residual disease (MRD) monitoring, with the LDT model playing a crucial role in domestic tumor gene sequencing [27][28] - AI technology is enhancing the efficiency of gene sequencing interpretation, facilitating the expansion of clinical applications and improving the capabilities of healthcare providers [24][29] Challenges and Opportunities - The market faces challenges such as low coverage rates in secondary and primary hospitals for newborn screening and difficulties in obtaining certification for tumor gene sequencing [25] - However, the introduction of AI technology presents new opportunities for hospitals, and the restrictions on accessing U.S. databases are prompting domestic efforts to strengthen gene data infrastructure [26][29] Conclusion - BGI Genomics is well-positioned in the gene sequencing market, with a strong focus on technological innovation and market expansion, particularly in the context of changing geopolitical dynamics and the growing importance of AI in healthcare applications [2][34]