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测序仪销量新高收入却下滑!华大智造连亏两年后今年上半年续亏,毛利率大降
仪器信息网· 2025-08-26 03:58
特别提示 微信机制调整,点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标,否则很可能无法看到我们的推送。 华大智造(688114)8月22日晚间披露2025年半年报,公司上半年实现营业收入11.14亿元,同比下降7.9%;归母净利 润为亏损1.04亿元,上年同期亏损2.98亿元,同比减亏。报告期内,净利润亏损减少主要原因系公司降本增效持续推 动,费用成本有所下降。 2025 年 上 半 年 , 公 司 期 间 费 用 ( 不 含 财 务 费 用 ) 为 8.27 亿 元 , 较 去 年 同 期 下 降 17.04% 。 其 中 , 销 售 费 用 同 比 减 少 12.11%,管理费用同比减少9.62%,研发费用同比减少26.98%,财务费用同比减少3438.97%。 此外,华大智造亦面临应收账款坏账、存货减值等风险。其中,公司存货规模处在较高水平,上半年已基于谨慎性原则 计提了存货跌价准备,但若未来公司产品市场需求出现大幅下滑导致产品价格持续下跌,或原材料价格持续出现下跌, 公司存货将面临较大减值损失,从而对公司经营业绩产生不利影响。 | 版 权 : 本 文 部 分 素 材 源 自 网 络 , ...
预算1.06亿元!海关系统大批试剂耗材采购意向
仪器信息网· 2025-06-07 12:17
海关系统2 0 2 5年 5 ~ 1 0 月 仪器设备采购 意向汇总表 | 光谱 | | | | | --- | --- | --- | --- | | 仪采 | | | | | 购项 | | | | | 目 | | | | | 长春 | | | | | 海关 | | | | | 2025 | | | | | 年度 | 采购货物检查X光机1台、行李物品检查X光机2台,用于货物查验、 | | 2025 | | | 旅检、寄递业务现场开展非侵入式检查。具体项目情况以相关采购公 | 135 | 年 5 | | X光 | 告和采购文件为准。 | | 月 | | 机采 | | | | | 购项 | | | | | 目 | | | | | 长春 | | | | | 海关 | | | | | 2025 | | | | | 年度 | 采购车辆门户式辐射探测设备2台,其中适用于公路口岸的1台、适 | | 2025 | | 辐射 | 用于铁路口岸的1台,对口岸进出口(境)货物、运输工具进行核辐 | 100 | 年 5 | | | 射监测,具备报警、数据存储等功能。具体项目情况以相关采购公告 | | | | 探测 | | | 月 ...
济南润达因商业贿赂被罚,控股股东润达医疗回应风口财经
Sou Hu Cai Jing· 2025-06-03 18:46
Core Viewpoint - Jinan Runda Biotechnology Co., Ltd. was fined 600,000 yuan for commercial bribery related to the sale of automatic coagulation analyzers and associated consumables [1][4]. Company Summary - Jinan Runda was found to have engaged in commercial bribery by selling automatic coagulation analyzers and related consumables at low prices to hospitals, thereby gaining more trading opportunities [1][3]. - The company was established in 2014, with a registered capital of 50.5 million yuan, and is primarily owned by Shanghai Runda Medical Technology Co., Ltd., which holds a 70% stake [5]. - The legal representative of Jinan Runda is Li Jie [5]. Parent Company Summary - Shanghai Runda Medical Technology Co., Ltd. was founded in 1999 and went public in 2015. As of March 10, 2025, the largest shareholder is Hangzhou Gongshu District State-owned Investment Group Co., Ltd., holding 19.22% [6]. - Runda Medical acknowledged the commercial bribery incident and stated that it is cooperating with regulatory authorities for investigation and corrective actions [6]. - The company is involved in the IVD (in vitro diagnostics) distribution and service industry, providing diagnostic products and technical support to medical laboratories [6]. Financial Performance - Runda Medical's performance has declined significantly in recent years. In 2024, the company reported revenue of 8.312 billion yuan, a decrease of 9.13% year-on-year, and net profit dropped from 273 million yuan to 55 million yuan, a decline of 79.77% [6][8]. - In the first quarter of 2025, the company reported revenue of 1.662 billion yuan, down 19.81% year-on-year, and a net loss of 69 million yuan, marking a 406.40% decline [8][9]. - The company's total expenses (sales, management, and financial) reached 1.634 billion yuan in 2024, accounting for 19.66% of revenue, an increase of 0.62 percentage points year-on-year [8].
中信证券股份有限公司 关于深圳华大智造科技股份有限公司 2024年度持续督导跟踪报告
Zheng Quan Ri Bao· 2025-05-26 22:40
Core Viewpoint - The report outlines the continuous supervision and assessment conducted by CITIC Securities on BGI Genomics, emphasizing the company's compliance with regulations and the absence of significant issues during the review period [1][3]. Group 1: Continuous Supervision Overview - The sponsor established a continuous supervision work system and a corresponding work plan, clarifying the requirements for on-site inspections [2] - A sponsorship agreement was signed between the sponsor and the company, detailing the rights and obligations during the supervision period, which has been filed with the Shanghai Stock Exchange [2] - The sponsor conducted daily communications and on-site visits, including a site inspection on May 19, 2025 [2] - The supervision included reviewing corporate governance documents, financial management systems, internal control reports, and conducting interviews with senior management [2] Group 2: Issues and Rectification - During the supervision period, no significant issues were identified by the sponsor or the representatives [3]. Group 3: Major Risk Items - The company faces risks of significant performance decline or losses due to high R&D investments and market expansion costs, particularly if international relations worsen or macroeconomic conditions deteriorate [4] - The rapid technological updates in the life sciences sector pose risks related to product development and market acceptance [5] - Risks of core talent loss and technology leakage are significant, impacting R&D capabilities and competitive advantages [6] - Ongoing patent and trademark litigation, particularly with competitors like Illumina, may restrict market expansion and sales performance in affected regions [7] - The company faces intense market competition, especially from established players in the gene sequencing market, which may hinder market share growth [8] Group 4: Financial Performance - In 2024, the company achieved a total revenue of CNY 2,956.89 million, with gene sequencing instruments contributing CNY 2,347.88 million, reflecting a 2.47% year-on-year growth [19] - R&D expenditure as a percentage of revenue decreased by 4.34 percentage points due to efficiency optimization measures [19][29] Group 5: Core Competitiveness - The company has developed a comprehensive product line in gene sequencing, leveraging its proprietary DNBSEQ technology, which enhances sequencing accuracy and efficiency [20][21] - The company has established a strong collaborative ecosystem with various research institutions and industry partners, enhancing its technological capabilities and market reach [24][26] - The management team comprises industry leaders with extensive experience, contributing to the company's innovative capacity and strategic direction [27][28]
华大智造:地缘风险波动下业绩稳健,全球测序装机稳步攀升-20250508
ZHONGTAI SECURITIES· 2025-05-08 13:25
Investment Rating - The report maintains an "Accumulate" rating for the company, indicating an expected relative performance increase of 5% to 15% over the next 6 to 12 months compared to the benchmark index [2][9]. Core Views - The company has shown resilience in performance amidst geopolitical risks, with steady growth in global sequencing installations. The core sequencing business is experiencing robust growth, supported by domestic market recovery and accelerated overseas expansion [2][6]. - The company achieved a revenue of 3.01 billion yuan in 2024, reflecting a year-on-year growth of 3.48%. However, the net profit attributable to the parent company was -601 million yuan, a slight improvement of 1.10% year-on-year [3][6]. - The report highlights the company's competitive advantage as a domestic leader in sequencing instruments, with a global market share of approximately 7.1% based on revenue and 28.2% based on new installations [6]. Summary by Sections Financial Performance - The company forecasts revenues of 3.61 billion yuan for 2025, with a growth rate of 20%. The net profit is expected to improve significantly, reaching -177 million yuan, a 70% year-on-year increase [2][7]. - In Q1 2025, the company reported a revenue of 455 million yuan, a decline of 14.26% year-on-year, while the net profit attributable to the parent company was -133 million yuan, an increase of 33.67% year-on-year [3][6]. Market Position - The company has accelerated its global expansion, with nearly 900 overseas marketing personnel and a significant increase in installed sequencing machines, totaling over 4,500 units globally by the end of 2024 [6]. - The domestic market share for newly installed instruments reached approximately 63.8%, with revenue market share increasing to 39% [6]. Cost and Efficiency - The report notes a decrease in sales expense ratio to 25.42% and a slight increase in management expense ratio to 19.98%. The R&D expense ratio decreased to 24.77%, indicating improved operational efficiency [6]. - The gross margin for 2024 was reported at 55.51%, a decrease of 3.96 percentage points year-on-year, primarily due to changes in product mix [6]. Future Outlook - The company is expected to continue benefiting from innovative products and global channel development, with projected revenues of 4.5 billion yuan in 2026 and 5.6 billion yuan in 2027, reflecting a growth rate of 25% and 24% respectively [2][6]. - The net profit is anticipated to turn positive by 2026, reaching 182 million yuan by 2027, indicating a significant turnaround from previous losses [2][6].
华大智造(688114):地缘风险波动下业绩稳健 全球测序装机稳步攀升
Xin Lang Cai Jing· 2025-05-08 12:29
Core Insights - The company reported a revenue of 3.013 billion yuan for 2024, representing a year-on-year growth of 3.48% [1] - The net profit attributable to shareholders was -601 million yuan, with a year-on-year increase of 1.10% [1] - The first quarter of 2025 saw a revenue decline of 14.26% year-on-year, amounting to 455 million yuan [1] Financial Performance - In Q4 2024, the company achieved a revenue of 1.143 billion yuan, a significant year-on-year increase of 61.64% [1] - The gross profit margin for 2024 was 55.51%, down 3.96 percentage points from the previous year [2] - The net profit margin was -20.22%, showing a slight improvement of 0.64 percentage points year-on-year [2] Business Segments - The core sequencing business generated 2.348 billion yuan in revenue, with a year-on-year growth of 2.47% [3] - The company sold nearly 1,270 new sequencing instruments in 2024, marking a 48.59% increase year-on-year [3] - The laboratory automation segment achieved a revenue of 209 million yuan, with a year-on-year growth of 36.69% after excluding pandemic-related revenues [4] Market Position and Strategy - The company holds a global market share of approximately 7.1% in revenue terms and 28.2% in terms of new sales installations [3] - The domestic market share for new instrument installations reached about 63.8%, with revenue market share increasing to 39% [3] - The company is accelerating its global expansion with nearly 900 overseas marketing personnel [3] Future Outlook - Revenue projections for 2025-2027 are set at 3.607 billion, 4.500 billion, and 5.597 billion yuan, reflecting year-on-year growth rates of 20%, 25%, and 24% respectively [5] - The net profit forecast for 2025 is -177 million yuan, with a significant turnaround expected by 2027, reaching 182 million yuan [5] - The company is positioned as a leading domestic sequencing instrument provider, with potential for further market share growth due to ongoing product innovations and geopolitical factors [5]
海关系统1.08亿元采购大批试剂耗材
仪器信息网· 2025-05-07 09:01
Core Insights - The article discusses the recent procurement intentions released by the customs system, highlighting a total of 27 reagent and consumable procurement items with a total budget of 108 million yuan [2][3]. Procurement Overview - The procurement includes advanced laboratory instruments such as ultra-high performance liquid chromatography-triple quadrupole mass spectrometer, gas chromatography-mass spectrometer, inductively coupled plasma emission spectrometer, and others, with the expected procurement period set for May to October 2025 [3][5]. - Specific items listed for procurement include: - Electronic evidence storage systems, integrated training platforms, and portable mobile evidence collection devices for the Shenzhen Customs [5]. - A biochemical immunoassay integrated intelligent detection system for the Shenzhen International Travel Health Center, with a budget of 1.6 million yuan [5][6]. - Automatic blood cell analyzers and multifunctional enzyme label instruments for health monitoring [5][6]. Detailed Procurement Items - The procurement plan includes various laboratory instruments aimed at enhancing the capabilities of customs laboratories, such as: - Ultra-high performance liquid chromatography-triple quadrupole mass spectrometers (4 units) for detecting veterinary drug residues and pesticide residues in food [10]. - Ion chromatography (2 units) for analyzing food additives and nutrients [10]. - Microbial identification instruments for rapid biochemical identification in food testing [11]. - The total budget for these instruments and consumables is significant, with specific allocations for each item, indicating a strong focus on upgrading laboratory capabilities to meet increasing demands [12][13].
华大智造(688114):收入平稳增长 25年拐点可期
Xin Lang Cai Jing· 2025-05-01 02:39
Core Viewpoint - The company reported a mixed performance for 2024 and Q1 2025, with revenue growth in 2024 but a decline in Q1 2025, while maintaining a positive outlook due to domestic market opportunities arising from government policies [1][5]. Group 1: Financial Performance - In 2024, the company achieved revenue of 30.13 billion yuan, with a year-on-year growth of 3.48%, while net profit attributable to shareholders was -6.01 billion yuan [1]. - Q4 2024 saw significant revenue growth of 61.6% year-on-year, reaching 11.43 billion yuan [1]. - For Q1 2025, revenue declined by 14.3% year-on-year to 4.55 billion yuan, with net profit at -1.33 billion yuan [1]. Group 2: Business Segments - The gene sequencing business generated revenue of 23.48 billion yuan in 2024, reflecting a 2.5% year-on-year increase, with instrument revenue at 9.60 billion yuan (+6.9% year-on-year) and reagent revenue at 13.73 billion yuan (+1.4% year-on-year) [2]. - The laboratory automation segment reported revenue of 2.09 billion yuan, with over 500 new installations, indicating a shift away from pandemic-related demand [2]. - New business revenue reached 4.0 billion yuan, excluding pandemic-related income, marking a 57.1% year-on-year increase, with single-cell related revenue growing by 172.0% [2]. Group 3: Market Position and Outlook - The domestic gene sequencing business performed well in 2024, with revenue of 16.07 billion yuan (+11.4% year-on-year) and a market share of 63.8% in new installations [3]. - The overseas segment faced challenges, with a revenue decline of 12.7% year-on-year to 7.41 billion yuan, but opportunities for growth exist due to competitive pricing and channel advantages [3]. Group 4: Cost Management and Profitability - The company's gross margin improved to 55.9% in 2024, with specific margins for gene sequencing, laboratory automation, and new businesses at 60.3%, 44.4%, and 35.5% respectively [4]. - R&D expenses decreased by 18.0% year-on-year to 7.46 billion yuan in 2024, while sales and management expenses increased [4]. - In Q1 2025, sales, management, and R&D expenses decreased by 10.5%, 9.2%, and 32.8% year-on-year respectively [4]. Group 5: Revenue Forecast and Valuation - Revenue projections for 2025-2027 have been adjusted to 36.65 billion yuan, 46.91 billion yuan, and 51.47 billion yuan, reflecting an 11% downward revision for 2025 and 2026 [5]. - The company is positioned as a leading domestic player in the gene sequencing equipment sector, with a target price of 88.0 yuan for 2025, based on a 10x price-to-sales ratio [5].