MGI launched the IPO on the Science and Technology Innovation Board, planning to raise 2.528 billion yuan

On August 23, Shenzhen MGI Technology Co.

According to the prospectus, MGI plans to issue no more than about 41.

All-round layout around life digitization

Revenue compound growth rate of nearly 90%

According to public information, MGI is one of the few high-end manufacturers in the world, including Illumina and Thermo Fisher, capable of independently developing and mass-producing clinical-grade sequencers

In recent years, the growth trend of MGI’s main business has been obvious.

In terms of business and product structure, the revenue from the gene sequencer business is the main source of income for MGI's domestic operating revenue

In terms of overseas revenue, MGI actively expanded overseas markets, initially established a global marketing system, and its products were gradually recognized by overseas customers

R & D strength builds competition barriers

Accelerated penetration of overseas markets

As one of the few high-end manufacturers of clinical-grade sequencers in the world, MGI's continuous high R&D investment for many years is an important reason for the company's comparative advantage in competition with international giants, and it is also the company's long-term competitive position in the future.

From 2019 to 2021, MGI’s R&D expenses were 343 million yuan, 700 million yuan and 608 million yuan respectively, accounting for more than 20% of the operating income in each period on average

    The increasing R&D strength has also helped MGI to form a multi-level in-depth patent layout

    According to the prospectus, MGI signed a settlement agreement with Illumina on July 14, 2022, to settle all pending lawsuits in the United States

    MGI stated in the prospectus that the company will continue to strengthen product development and production in the future, promote product upgrades, and improve product qualification rates, delivery capabilities, and automation efficiency