Core Insights - The report titled "Synthetic Biology Industry & Investment Strategy Research Report" provides a comprehensive analysis of the synthetic biology sector, covering technical pathways, market landscape, representative companies, industrial clusters, and policy trends [2]. Group 1: Company Overview - Zhejiang Jintou Shengyuan Equity Investment Co., Ltd. was established in June 2023 with a registered capital of 200 million yuan, serving as a market-oriented equity investment platform under the Zhejiang Provincial Innovation Investment Group [6]. - The company focuses on sectors such as new materials, new technologies, and biomedicine, with a total fund scale exceeding 10 billion yuan, aiming to enhance the operation of provincial government industrial funds [6][34]. Group 2: Market Dynamics - The global synthetic biology market has grown from $5.3 billion in 2018 to over $17 billion in 2023, with an average annual growth rate of 27%. It is projected to reach nearly $50 billion by 2028 [25]. - The Chinese market is expected to be approximately 10 billion yuan in 2024, continuing to grow to 12.406 billion yuan in 2025 [25]. Group 3: Technological Advancements - Shanghai Kasei Biotechnology Co., Ltd. has pioneered the large-scale production technology of long-chain dicarboxylic acids through biological methods, breaking the monopoly of chemical synthesis [7]. - Ginkgo Bioworks has expanded its offerings into life science tools and services, integrating various foundational tools to assist downstream clients in producing desired biological products [14][15]. Group 4: Investment Strategies - The report emphasizes the importance of strategic partnerships and collaborations in the synthetic biology sector, highlighting the need for investment in innovative technologies and platforms to drive growth [19][25]. - The investment landscape is characterized by a shift from pure service models to integrated solutions that combine research and product offerings, particularly in the context of AI and automation [15][16].

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Suzhou Leadsynbio Technology Co., Ltd. 蘇州引航生物科技股份有限公司 (the "Company") (A joint stock company incorporated in the Pe ...

Core Insights - Ginkgo Bioworks, in collaboration with OpenAI, has developed an AI system that autonomously designs and executes biological experiments, achieving a 40% reduction in cell-free protein synthesis reaction costs compared to the current state of the art [1][4][7] Group 1: AI and Autonomous Lab Integration - The study showcases a practical application of Ginkgo's autonomous lab, utilizing OpenAI's GPT-5 model to design, execute, and analyze experiments in a closed-loop workflow [3][5] - The autonomous lab executed over 36,000 experimental conditions across six iterative cycles, generating nearly 150,000 experimental data points [5][7] - Human involvement was limited to reagent preparation and system oversight, while the AI handled experimental design and data interpretation [5][6] Group 2: Cost Reduction and Efficiency - The autonomous lab produced a benchmark protein, superfolder green fluorescent protein (sfGFP), at a cost of $422 per gram, down from the previously reported $698 per gram, marking a 40% cost reduction [4][7] - The integration of AI in the lab is expected to lead to more experiments being conducted, as lower reagent costs will facilitate increased data generation and scientific progress [4][8] Group 3: Commercial Potential - Ginkgo is now offering the AI-optimized reaction mix for sale in its reagents store, indicating the commercial viability of AI-driven scientific advancements [7][8] - The Pydantic model used for validating experiments will be released as open source, further promoting transparency and collaboration in scientific research [6][8]

Core Thesis - Twist Bioscience Corporation is positioned as a leader in synthetic biology and next-generation genomics, with a strong growth trajectory and potential for re-rating in the market [1][4]. Company Overview - Twist Bioscience manufactures synthetic DNA-based products using a unique silicon-based DNA synthesis technology, enabling high-precision and high-throughput manufacturing [2]. - The company's offerings include synthetic DNA, gene fragments, next-generation sequencing tools, and a growing biopharma business focused on antibody discovery and humanized transgenic mouse models [2]. Customer Adoption and Financial Performance - Customer adoption has increased to approximately 2,484, up from 2,300 a year earlier, supported by collaborations with partners like Element Biosciences and Ginkgo Bioworks [3]. - For Q3 2025, revenue reached $96.1 million, an 18% year-over-year increase, driven by growth in synthetic biology ($35.2 million), next-generation sequencing ($55.3 million), and biopharma ($5.6 million) [3]. - Gross margin was reported at 53.4%, leading to a net income of $20.4 million and adjusted EBITDA of $8 million [3]. Financial Outlook - The company projects full-year revenue between $374 million and $376 million, with expectations for adjusted EBITDA breakeven by fiscal 2026 [4]. - Twist has a solid balance sheet with $250.8 million in cash and $478.2 million in equity, indicating a strong financial position [4]. - Despite a market cap of $1.6 billion and a share price of $26.33, the current valuation reflects caution rather than the company's strengths, suggesting potential for future growth [4].

Core Insights - Twist Bioscience reported a strong first-quarter performance for fiscal 2026, with revenue reaching $103.7 million, reflecting a 17% year-over-year growth and marking the 12th consecutive quarter of revenue growth [5][4]. - The growth was significantly driven by demand for AI-enabled discovery, with over $25 million in orders specifically tied to this area booked for fiscal 2025 [1][5]. - The company aims for adjusted EBITDA break-even by the fourth quarter of fiscal 2026, while also increasing operating expenses to support growth [13][5]. Financial Performance - DNA synthesis and protein solutions (DSPS) revenue increased to $51.1 million, up 27% year-over-year [1]. - Adjusted EBITDA loss was approximately $13.4 million, an improvement of about $2.8 million compared to the prior-year quarter [3]. - Gross margin was reported at 52.0%, higher than expected, attributed to revenue growth and process improvements [4]. Market Trends - The company is expanding its services beyond DNA synthesis to include protein expression and antibody characterization, targeting large pharma, tech companies, and well-funded biotechs [6]. - NGS applications revenue was approximately $52.6 million, with an 18% year-over-year growth when excluding one large customer [7]. - Therapeutics revenue increased to approximately $37.2 million, up 39% year-over-year, driven by greater uptake from large pharma and biotech [15]. Guidance and Outlook - Twist raised its full-year revenue outlook to $435 million to $440 million, indicating about 16% growth at the midpoint [12]. - For the second quarter, the company expects revenue of $107 million to $108 million, also reflecting about 16% growth at the midpoint [12]. - Management expressed confidence in continued growth in NGS driven by key accounts and partnerships [9][10]. Geographic and Sector Performance - Revenue by geography showed growth in the Americas ($58.4 million), EMEA ($38.4 million), and APAC ($7.0 million) compared to the previous year [11]. - Global supply partner revenue rose to $12.8 million, a 50% increase, attributed to new partnerships and growth among diagnostics OEM partners [11]. - Academic research and government revenue remained flat at approximately $12.2 million, with expectations for growth in the second quarter due to increased confidence in NIH funding [15].

Fiscal 2026 Q1 Financial Results F E B R U A R Y 2 0 2 6 Legal Disclaimer This presentation contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, projections under the heading "FY 2026 Guidance", statements regarding future growth and expans ...

Core Insights - Ginkgo Bioworks has been awarded a four-year contract worth up to $47 million by the Environmental Molecular Sciences Laboratory to develop a High-Throughput Automated Phenotyping Platform [1][5] - The platform aims to enhance the U.S. Department of Energy's capabilities in generating reproducible microbial data, thereby supporting the bioeconomy and biotechnology innovation [1][4] Group 1: Contract and Collaboration - The contract is part of a competitive procurement process and will support the Microbial Molecular Phenotyping Capability [1][5] - Ginkgo Automation will utilize its Catalyst scheduling software and modular Reconfigurable Automation Carts to automate workflows from media preparation to multimodal analytics [2][3] Group 2: Technological Features - The HTPAPP is designed to support BSL2 operations, remote planning, and laboratory integration, allowing for adaptability as scientific needs evolve [2][9] - Key features include a modular architecture, integrated transport, and software-enabled interleaving of diverse protocols to maximize efficiency [2][9] Group 3: Strategic Importance - The project aligns with the recent AI Action Plan aimed at boosting U.S. scientific innovation through AI-enabled cloud laboratories [4] - The platform is expected to increase throughput and reproducibility of phenotyping campaigns, capturing multimodal analytical measurements suitable for AI and machine learning applications [5][9] Group 4: Company Overview - Ginkgo Bioworks specializes in engineering biology, offering customizable R&D solutions across various sectors including therapeutics, diagnostics, and agriculture [8] - The company also provides laboratory automation solutions to enhance research efficiency and data generation for AI models [8]

Core Insights - Artisan Partners' "Artisan Small Cap Fund" reported strong performance in Q3 2025, with major US indices reaching record highs and the fund's Investor Class returning 8.69% [1] - Twist Bioscience Corporation (NASDAQ:TWST) was highlighted as a detractor in the fund's performance, with a one-month return of -20.34% and a 52-week loss of 37.05% [2][3] Fund Performance - The Artisan Small Cap Fund's Advisor Class fund returned 8.75%, and the Institutional Class fund returned 8.73%, while the Russell 2000 Growth Index returned 12.19% [1] - The fund's top 5 holdings were mentioned as key picks for 2025 [1] Company Analysis: Twist Bioscience Corporation - Twist Bioscience reported 18% revenue growth, driven by demand in next-generation sequencing, despite weaker sales in synthetic biology products [3] - The company has a market capitalization of $1.58 billion, with shares closing at $26.87 on November 14, 2025 [2] - The partnership with Veracyte is viewed as a validation of Twist's platform, potentially driving long-term upside [3] Hedge Fund Interest - Twist Bioscience was held by 23 hedge fund portfolios at the end of Q2 2025, a decrease from 30 in the previous quarter [4] - The company reported revenue of $99 million in Q4 2025, reflecting a 17% year-over-year growth [4]

Core Insights - Twist Bioscience (TWST) stock has experienced a significant decline of 10.1% in one day, raising concerns about potential deeper issues beyond temporary weakness [2] - The company is valued at $1.6 billion with a revenue of $362 million, and its stock is currently trading at $26.87 [2] - Revenue growth over the past year is reported at 22.7%, but the operating margin stands at -39.3% [2] - The stock is trading at a P/E multiple of -18.9 and a P/EBIT multiple of -9.5, indicating moderate operational performance and valuation, leading to it being considered fairly priced [3] Financial Position - The company has a debt-to-equity ratio of 0.05 and a cash-to-assets ratio of 0.39, suggesting a strong liquidity position [2] - TWST stock has historically underperformed compared to the S&P 500 during economic downturns, with a notable decline of 94.5% from its peak of $207.97 on January 20, 2021, to $11.49 on May 2, 2023 [7] - The stock has not yet returned to its pre-crisis high, with the highest price since then being $58.88 on July 23, 2024 [7] Market Performance - The stock dropped 43.9% from a high of $35.15 on March 6, 2020, to $19.71 on March 18, 2020, compared to a 33.9% decline for the S&P 500 [7] - In December 2018, TWST stock declined by 47.6% from a peak of $31.08 to $16.30, while the S&P 500 experienced a peak-to-trough decline of 19.8% [8] - Despite these declines, the stock has shown the ability to fully rebound to its pre-crisis peaks in previous instances [8]

Fiscal 2025 4Q and Full Year Financial Results N O V E M B E R 2 0 2 5 Agenda Welcome Angela Bitting SVP, Corporate Affairs Quarterly Highlights Emily Leproust Chief Executive Officer Business Highlights Patrick Finn President and Chief Operating Officer Financial and Operational Performance Adam Laponis Chief Financial Officer Milestones Emily Leproust Chief Executive Officer Q&A Session 2 | TWIST BIOSCIENCE | PROPRIETARY Legal Disclaimers This presentation contains forward-looking statements. All statemen ...