Core Insights - The company reported a revenue of 3.013 billion yuan for 2024, marking a year-on-year growth of 3.48% [1] - The core gene sequencing instrument business generated revenue of 2.348 billion yuan, with a year-on-year increase of 2.47% [1] - The company showed resilience in a competitive global landscape, with a nearly 34% reduction in net profit loss year-on-year in the first quarter [1] Financial Performance - The domestic gene sequencing instrument revenue reached 1.607 billion yuan, reflecting an 11.37% year-on-year growth [1] - The first quarter saw a significant reduction in sales, management, and research expenses, which collectively decreased by 19% year-on-year [1] - The company achieved a 48.59% year-on-year increase in new sales installations of gene sequencing instruments globally [1] Market Position - The company maintained its position as the leader in new installations in the domestic market for three consecutive years, with a market share of 63.8% in 2024 [1] - The global market share for new installations increased by 9.5 percentage points to 28.2% compared to 2023 [1] Technological Advancements - The company has achieved a comprehensive strategic layout for three technical pathways in gene sequencing products, becoming the first globally to have large-scale commercial production of both short-read and long-read sequencing products [2] - Revenue from cell genomics increased by 171.98% year-on-year, with a nearly threefold growth in the Asia-Pacific region [2] - The integration of AI, biotechnology, and information technology has led to the deployment of AI models in the new Alpha Cube, supporting high-throughput sequencing needs [2] Industry Outlook - The company is expected to strengthen its leading position in the industry due to accelerated support from national policies and its self-controlled technology and supply chain systems [2] - The company is penetrating emerging scenarios such as clinical applications, disease control, environmental ecology, and agricultural breeding through continuous core technology research and multi-scenario applications [2]