FILE PHOTO: A technician operates at a hereditary screening lab of BGI, previously known as Beijing Genomics Institute, in Kunming, Yunnan province, China December 26,2018 REUTERS/Stringer/File image
SHANGHAI (Reuters) – China’s BGI Genomics Co stated on Tuesday it anticipates first-half net profit to be about 8 times the quantity reported in the same period last year after the worldwide pandemic developed a rise in demand for its coronavirus test kits.
The genomics company, which said it has distributed more than 35 million packages throughout 180 countries and areas, anticipated a net revenue of in between 1.53 to 1.63 billion yuan ($21832-$23266 million) in the six months to end-June, a jump of around 700%from 198 million yuan a year ago.
The novel coronavirus, which initially emerged in China late last year, has to date infected over 13 million people internationally and eliminated more than 575,000
The purchase of test packages from BGI– Beijing Genomics Institute – which has become one of the world’s biggest genomics companies over the previous two decades – has actually been questionable in some nations.
In May, the Australian government stated its purchase of 10 million coronavirus test sets from Chinese genomics business BGI will not run the risk of client privacy.
BGI Genomics Co is the listed subsidiary of BGI.
($ 1 = 7.0060 yuan)
Reporting by Brenda Goh; Editing by Ana Nicolaci da Costa
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