Group 1 - The stock price of BGI Genomics is reported at 67.76 yuan, down 1.15% from the previous trading day, with an intraday high of 69.35 yuan and a low of 67.19 yuan, and a trading volume of 2.11 billion yuan [1] - BGI Genomics' main business includes the research, development, production, and sales of instruments and consumables related to life sciences and healthcare, covering products such as gene sequencers and laboratory automation equipment [1] - The company has recently opened a special settlement account for cash management of raised funds, planning to use up to 2 billion yuan of idle self-owned funds and 1.7 billion yuan of idle raised funds for cash management, focusing on purchasing safe and liquid deposit-type or capital-protected products [1]

深圳华大智造科技股份有限公司 会议资料 深圳华大智造科技股份有限公司 为保障深圳华大智造科技股份有限公司（以下简称"公司"）全体股东的合 法权益，维护股东大会的正常秩序，保证股东大会的议事效率，确保本次股东大 会如期、顺利召开，根据《中华人民共和国公司法》（以下简称《公司法》）、 《深圳华大智造科技股份有限公司章程》（以下简称《公司章程》）、《深圳华 大智造科技股份有限公司股东大会议事规则》及中国证券监督管理委员会、上海 证券交易所的有关规定，特制定本须知。 一、为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，请出 席大会的股东或其代理人或其他出席者务必准时到达会场签到确认参会资格，在 会议主持人宣布现场出席会议的股东和代理人人数及所持有的表决权数量之前， 会议登记应当终止，在此之后进场的股东或股东代理人无权参与现场投票表决。 三、会议按照会议通知上所列顺序审议、表决议案。 四、股东及股东代理人参加股东大会依法享有发言权、质询权、表决权等权 利。股东及股东代理人参加股 ...

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company is expected to benefit significantly from the domestic substitution opportunities arising from the Ministry of Commerce's ban, leveraging its technological and service advantages [1][3] - The company's revenue for 2024 is projected to be 30.13 billion RMB, with a year-on-year growth of 3.48% [1] - The company is positioned as a leading domestic player in the gene sequencing equipment sector, with a target price set at 88.00 RMB, reflecting a 10x price-to-sales ratio for 2025 [5][9] Revenue and Profitability - In 2024, the company's revenue from the gene sequencing business reached 23.48 billion RMB, showing a 2.5% year-on-year increase, with a significant rise in installed capacity [2] - The gross margin for the main business in 2024 was 55.9%, an increase of 0.3 percentage points from the previous year [4] - The company’s net profit attributable to the parent company is expected to turn positive in 2025, reaching 131.43 million RMB [7] Business Segments - The gene sequencing segment achieved a domestic revenue of 16.07 billion RMB in 2024, marking an 11.4% year-on-year increase, with a market share of 63.8% in new installations [3] - The laboratory automation segment generated 2.09 billion RMB in revenue, indicating a shift towards regular research and clinical applications [2] - New business revenue reached 4.0 billion RMB, excluding pandemic-related income, with a remarkable growth of 57.1% year-on-year [2] Financial Forecasts - Revenue projections for 2025, 2026, and 2027 are adjusted to 36.65 billion RMB, 46.91 billion RMB, and 51.47 billion RMB respectively, reflecting an 11% downward adjustment for 2025 and 2026 [5][7] - The company is expected to achieve a return on equity (ROE) of 1.66% in 2025, improving to 6.01% by 2027 [7]