Core Insights - Mirxes Holding Company Limited (Mirxes) has demonstrated significant achievements in its core product commercialization, financial optimization, and R&D pipeline advancement as of June 30, 2025 [1] Financial Performance - Mirxes reported a revenue of $10.5 million for the first half of 2025, marking a 9.4% increase compared to the same period in 2024, driven by a 50% growth in the early detection and precision multi-omics segment [2] - The gross profit reached $7.1 million, a 102.9% increase year-on-year, with the gross margin improving from 49.0% to 67.6% [2] - The company reduced its losses by 36.3% to $28.23 million, aided by effective cost management and non-operating factors [2] - Cash and cash equivalents rose to $108 million following a global offering, significantly improving the company's financial structure with a debt-to-asset ratio reduced from 377.8% to 29.8% [2] Market Expansion - Mirxes is expanding its global market presence, with significant sales growth in China (revenue of $3.21 million, up 18.1%) and Southeast Asia (revenue of $7.26 million, with a 71.2% increase in early detection and precision multi-omics business) [3] - The company has initiated a nationwide early screening project in Japan and signed a memorandum of understanding with PT DIASTIKA BIOTEKINDO in Indonesia to advance cancer screening and molecular diagnostics [3] Product Pipeline and Competitive Advantage - Mirxes' GASTROClear, the world's first approved molecular diagnostic product for gastric cancer screening, is leading the market and has received regulatory approvals in Singapore and Thailand, as well as FDA breakthrough device designation [4] - The LUNGClear product is also performing well, contributing to revenue growth in Southeast Asia and Japan [4] - The company is advancing its R&D pipeline, with plans for the CRC-1 colorectal cancer detection product to complete prototype design in the second half of 2025 and initiate clinical trials in Singapore and China in 2026 [4] Industry Position - Mirxes holds 19 family patents and 63 pending applications, with GASTROClear included in Singapore's industry standards [5] - The company benefits from government support in Singapore, including R&D grants and tax incentives, ensuring continued innovation [6] - Mirxes was recently included in the Hang Seng Composite Index, enhancing its market influence and capital attention [6]

Core Viewpoint - Mirxes-B (02629) has seen a significant increase in stock price, reaching a new high of 40.66 HKD, which is over 70% higher than its IPO price of 23.3 HKD [1] Company Overview - Mirxes is a Singapore-based RNA biotechnology company focused on developing and commercializing precise, non-invasive, and affordable blood miRNA tests for early cancer and disease screening [1] - The flagship product, GASTROClear, is a blood miRNA-based molecular diagnostic kit for gastric cancer screening, approved in multiple countries including Singapore and the EU, and has received breakthrough medical device certification from the FDA in the US [1] - GASTROClear has completed a prospective clinical trial with a sample size of 9,472 in China and is currently in the registration application process [1] Market Position - Guoyuan International believes that the company has significant technological, product, and market advantages in the field of miRNA-based early cancer detection, positioning it as one of the global leaders in this sector [1] - Everbright Securities International previously noted the vast market potential for global cancer screening, highlighting high industry entry barriers [1] - GASTROClear is the only approved molecular diagnostic IVD product for gastric cancer screening in the global market, holding the largest market share (66.3%) in the Southeast Asian miRNA-based liquid biopsy gastric cancer screening market as of 2023 [1]