Core Points - The Life Sciences Open Alliance was established on August 12, involving 15 universities and research institutions from mainland China and Hong Kong-Macau, aiming to promote innovation in life sciences and address global challenges [1][2] - The alliance seeks to integrate technology and industry innovation, enhance talent cultivation, and facilitate international collaboration among high-level universities and research institutions [1][2] Group 1 - The alliance includes major universities from mainland China such as Peking University, Tsinghua University, and Fudan University, along with universities from Hong Kong and Macau [1] - The initiative aims to create a global innovation network and a high ground for talent cultivation in life sciences [1][2] - The alliance will establish high-level journals in life sciences and utilize new technologies like blockchain for academic preprint platforms [2] Group 2 - The alliance will focus on building an international open ecosystem for research data, addressing issues related to data compliance and usability [2] - The Guangdong-Hong Kong-Macau Greater Bay Area will be leveraged for technology transfer and industrial incubation mechanisms [2] - A global open and cooperative initiative in life sciences was announced, encouraging collaboration and resource sharing to enhance human health and well-being [2][3]

Financial Data and Key Metrics Changes - Q1 revenues were $737 million, up 6% from Q1 last year [5] - Order bookings were $693 million, down 15% compared to Q1 last year [16] - Adjusted earnings from operations in Q1 were CAD 78.6 million, representing 10.7% of revenues [18] - Gross margin for Q1 was 29.8%, consistent with Q1 last year [18] - Cash flows from operating activities were CAD 156 million [22] - Net debt to adjusted EBITDA ratio was 3.6 times on a pro forma basis at Q1 [22] Business Line Data and Key Metrics Changes - In Life Sciences, order backlog at quarter end was $1.2 billion, with strong contributions from auto injectors and blood glucose monitoring wearables [6] - Food and Beverage backlog was $229 million, an increase of 6% compared to Q1 last year [8] - Energy sector saw growth primarily in nuclear refurbishment activities, particularly around CANDU reactors [42] - Consumer Products and Transportation sectors remained stable, with transportation experiencing lower EV end market demand [10] Market Data and Key Metrics Changes - The order backlog ended the quarter at approximately $2.1 billion, reflecting a healthy funnel across diversified offerings [5] - Orders in the first half of the calendar year were up over 10% year over year, excluding transportation [39] Company Strategy and Development Direction - The company is focused on returning leverage to its target range of 2 to 3 times and realizing further synergies from recent acquisitions [12][23] - The strategy includes growing repeatable revenue through services, consumables, and digital offerings [6] - The company remains committed to creating long-term value for shareholders and customers through strong execution and continued growth in targeted markets [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook for the year, supported by a strong backlog and a trailing twelve-month book-to-bill ratio of 1.17 [33] - The company is closely monitoring the business environment due to cross-border tariffs but has not seen a material impact to date [20] - Management noted that while some customers in the lab research space are taking a more measured approach to capital spending, the overall outlook for Life Sciences remains positive [7] Other Important Information - ATS was included in Time Magazine's inaugural list of Canada's Best Companies 2025, ranking number one in the engineering, manufacturing, and medical technology category [14] - The company is actively engaged in M&A opportunities that align with long-term growth ambitions [11] Q&A Session Summary Question: Can you discuss the demand environment further? - Management noted that the trailing twelve-month book-to-bill ratio is 1.17, indicating alignment with growth targets and a healthy funnel of customer conversations [33][34] Question: What is driving the uptick in the energy business? - The growth in the energy sector is primarily driven by nuclear refurbishment activities, particularly around CANDU reactors, with a strong demand environment [42] Question: Can you provide an update on the integration process and cross-selling opportunities? - Integration across recent acquisitions is progressing well, with strong uptake in ABM deployments and cost synergies being realized [54] Question: How is the company addressing the impact of U.S. government funding changes on Life Sciences? - The impact is low, representing less than a single-digit percentage of the business, and has not materially affected overall Life Sciences performance [55] Question: What is the outlook for margin progression? - Management expects margin expansion for the year, driven by gross margin improvements and operational efficiencies, though variability is anticipated [88] Question: What is the status of the M&A pipeline during the leadership transition? - The company continues to pursue both organic and acquisition-related growth, with M&A activity ongoing despite the leadership transition [62]

Core Viewpoint - The collaborative research led by Chinese institutions and international scientists has achieved significant advancements in brain mapping at single-cell resolution, marking a leap from rodent to primate studies, with ten important results published in a special issue of the journal "Cell" [1] Group 1 - The series of results covers key species including reptiles, birds, rodents, non-human primates, and humans, expanding the international brain atlas in terms of cross-species comparison and spatiotemporal dynamics [1] - Unlike previous breakthroughs that focused on isolated points, this series of findings is expected to facilitate a transition from structural to functional research, providing new perspectives and critical tools for understanding the brain [1]

Core Viewpoint - Strengthening fundamental research is an urgent requirement for achieving high-level technological self-reliance and is essential for building a world-class scientific power [1][4] Group 1: Research Achievements - Huang Zhiwei's team discovered the structure of the HIV virus virulence factor, which had not been resolved for over 30 years, providing a foundation for developing anti-HIV drugs [2][4] - The research on the working mechanism of DNA molecular scissors Cpf1 was revealed in 2016, allowing for more efficient and precise gene editing [3] - In April 2024, a new family of RNA-guided DNA endonucleases was discovered, contributing to advancements in enzyme engineering for gene editing [3] Group 2: Research Environment and Philosophy - The establishment of the Life Sciences Center in 2016 provided a research environment that encourages free exploration, allowing previously overlooked researchers to develop their ideas [3][4] - Huang Zhiwei emphasizes the importance of hands-on involvement in experiments and detailed record-keeping to ensure reproducibility and high-quality research outcomes [2][4] - The center has nurtured many emerging researchers, some of whom have become independent scientific leaders [4] Group 3: Future Aspirations - Huang Zhiwei maintains a beginner's mindset, aiming to tackle significant scientific questions and explore the mysteries of life, contributing to the advancement of fundamental research in life sciences on a global scale [4]

Core Viewpoint - The article emphasizes the importance of plasmid extraction in the life sciences industry, highlighting the need to understand the challenges faced by professionals in this area [1]. Group 1: Survey Details - A survey is being conducted to gather insights from life science professionals regarding their experiences with plasmid extraction [2]. - The survey is open from June 20 to July 6, with various prizes available for participants, including 50 Xiaomi backpacks, 50 stylish umbrellas, 10 Xiaomi Bluetooth speakers, and 3 Apple AirPods Max valued at 3,999 yuan each [2]. Group 2: Participation and Rewards - Participants can join the survey by scanning a QR code or clicking on a link provided at the end of the article, which takes approximately 30 seconds to complete [4]. - After the survey closes, the organizers will verify the responses and select winners for the prizes [5]. - The list of winners will be announced in an article published on July 18 on the "Instrument Information Network" public account [6].

Core Findings - Researchers from Kyoto University and Ritsumeikan University discovered that exposure to bisphenol A (BPA) and retinoic acid during early development significantly increases the risk of abnormalities in brain, nerve, and facial structure formation in zebrafish embryos [1][2] - BPA is commonly used in plastic production and is found in various consumer products, raising concerns about its impact on reproductive and endocrine health, as well as its potential link to conditions like infertility, cancers, allergies, obesity, and autism [1] - The study published in the journal Environmental Health Perspectives indicates that while BPA alone does not affect the expression of HOX genes, the presence of low concentrations of retinoic acid alongside BPA leads to a significant increase in HOX gene expression [1] Experimental Results - The zebrafish embryo experiments showed that simultaneous exposure to BPA and retinoic acid resulted in abnormal expression of hindbrain-related genes and increased probability and severity of abnormalities in craniofacial cartilage [2] - The hindbrain is a critical region in vertebrate embryos that will differentiate into structures such as the cerebellum and medulla [2] - The research team emphasized the need to pay special attention to the combined effects of plastic chemicals and other active substances on developmental health, as low concentrations of certain substances may not pose significant risks when isolated [2]

Group 1 - The article highlights the publication of six research papers by Chinese scholars in the prestigious journal Cell, covering various topics in biology and evolution [2] - The studies include the reconstruction of the ant phylogenetic tree, octopus sensory perception of environmental microbes, skin microbiomes of Indigenous Malaysians, new strategies for disease-resistant crop breeding, digital reconstruction of full embryos, and insights into the appearance of Denisovans [2][4][9][14][19][24][29] Group 2 - The study on ants integrated genomic data from 163 ant species, clarifying their complex phylogenetic relationships and tracing their common ancestor back to approximately 157 million years ago during the Jurassic period [6] - The research on octopuses explored how environmental microbiomes influence their sensory receptors and behavior, providing new evidence for co-evolution between microbes and animals [11] - The investigation into Indigenous Malaysians' skin microbiomes revealed unique microbial communities and insights into chronic fungal infections, potentially informing treatment strategies [16] - The crop breeding study demonstrated that co-delivery of immune receptors can enhance disease resistance across diverse plant species, offering new strategies for sustainable agriculture [21] - The digital reconstruction of mouse embryos at single-cell resolution provided significant insights into early organogenesis and a unique platform for studying development and disease [26] - The research on Denisovans successfully extracted ancient DNA from dental calculus, linking it to a nearly complete skull fossil and enhancing understanding of human evolutionary history in East Asia [30]

Core Viewpoint - The article highlights the significant contributions of Huang Zhiwei, a returning scientist, in advancing basic research in life sciences at Harbin Institute of Technology, emphasizing the importance of foundational research for achieving high-level technological self-reliance and building a world-class scientific power [1][4]. Group 1: Research Achievements - Huang Zhiwei established a laboratory from scratch at Harbin Institute of Technology in 2012, focusing on basic research in immunology and infectious diseases [1]. - In 2014, his team discovered the structure of the HIV virus virulence factor, which had been elusive for over 30 years, providing a foundation for developing anti-HIV drugs [2]. - The research findings were published in the journal "Nature," attracting international attention and collaboration [2]. Group 2: Research Environment and Philosophy - Huang Zhiwei created a supportive research environment at the Life Sciences Center, allowing researchers to explore innovative ideas freely [3]. - He emphasizes the importance of hands-on involvement in experiments and meticulous record-keeping to ensure reproducibility and high-quality research outcomes [2][3]. - The center has produced significant breakthroughs in gene editing and metabolic disease mechanisms, establishing a competitive research platform internationally [3]. Group 3: Future Aspirations - Huang Zhiwei expresses a commitment to tackling unresolved scientific questions in life sciences, maintaining a beginner's mindset to explore frontiers and contribute to the field's advancement [4].

Core Viewpoint - Bio-Rad reported a decline in Q1 2025 revenue to $585.4 million, a 4.2% decrease compared to Q1 2024, primarily due to lower sales in the life sciences segment [2][3]. Financial Performance - Q1 2025 total net sales were $585.4 million, down from $610.8 million in Q1 2024, reflecting a 4.2% year-over-year decline. On a currency-neutral basis, sales decreased by 1.5% [5]. - Life sciences segment net sales for Q1 2025 were $228.6 million, a 5.4% decrease from the same period in 2024. In currency-neutral terms, sales fell by 3.5% [5]. - Clinical diagnostics segment net sales for Q1 2025 were $356.8 million, down 3.2% year-over-year. On a currency-neutral basis, net sales were nearly flat, decreasing by 0.1% [5]. Profitability Metrics - The gross margin for Q1 2025 was 52.3%, compared to 53.4% in Q1 2024 [6]. - Non-GAAP gross margin for Q1 2025 was 53.8%, down from 54.2% in Q1 2024 [9]. - Q1 2025 operating income was $23.7 million, significantly lower than $44.6 million in Q1 2024 [7]. Net Income and Earnings Per Share - Net income for Q1 2025 was $64.0 million, a sharp decline from $383.9 million in Q1 2024. Diluted earnings per share were $2.29, down from $13.45 [4][7]. - Non-GAAP net income for Q1 2025 was $71.0 million, with diluted earnings per share of $2.54, compared to $65.3 million and $2.30 in Q1 2024 [10]. Tax Rate - The effective tax rate for Q1 2025 was 23.3%, compared to 21.8% in Q1 2024, influenced by the geographic mix of earnings [8]. Full-Year Outlook - Bio-Rad is updating its full-year 2025 financial outlook, now expecting non-GAAP, currency-neutral revenue growth between 1.0% and 1.5%, down from a previous forecast of 1.5% to 3.5%. The non-GAAP operating margin is now projected to be around 10.0% to 12.0%, reduced from an earlier estimate of 13.0% to 13.5% [11].