Chinese biotech firm BGI sees booming revenue, profits in first 3 quarters

Chinese biotech company BGI Genomics Co., Ltd. registered robust growth in its revenue and profits in the first three quarters on the back of rocketing demand for diagnostic kits.

The company reported 2.71 billion yuan (about 403 million U.S. dollars) in net profits for its parent company in the first nine months, soaring 901.68 percent year on year, according to its report filed with the Shenzhen Stock Exchange.

During the period, the firm raked in 6.75 billion yuan in operating revenue, up 225.82 percent year on year, said the report.

The enterprise attributed the growth to surging demand for diagnostic kits and detection services due to the COVID-19 epidemic, which has spurred its business in the fields of infection prevention and control and comprehensive solutions for precision medicine, the report said.

BGI provides services in areas including reproductive health, cancer prevention and control, pathogenic infection and precision medicine.