Hybribio Biotech' s net profit grows to 120.62% in 2022

January-December 2022 results rose significantly, with net profit attributable to shareholders of the listed company amounting to CNY 1,720 million to 1,880 million, representing a year-on-year net profit growth of 101.84% to 120.62%.

During the reporting period, the management of the Company conscientiously implemented the annual business plan formulated by the Board of Directors, continued to promote the integrated business model of "nucleic acid testing products + medical testing services", and continued to implement the "Nucleic Acid 99 Strategy" and "B53 Nucleic Acid". The company continues to implement the "Nucleic Acid 99 Strategy" and the "B53 Nucleic Acid Remote Strategic Service Program", and actively utilize their product technology and market advantages to strengthen market expansion. During the reporting period, the Company's products were widely used in public health prevention and control, maternal and child health and other fields. Its third-party medical laboratories (including Hong Kong) actively responded to the epidemic prevention and control policy and participated in the new crown nucleic acid testing, which led to rapid growth in testing service revenue and sales of related nucleic acid testing reagents and supporting consumables, and the related business achieved rapid development.

In December 2022, due to the adjustment of the COVID-19 prevention and control measures, the demand for COVID-19 nucleic acid testing dropped sharply, resulting in the risk of a decline in the value of the Company's relevant inventories. Based on the principle of prudence, the Company made a provision for the decline in value of relevant inventories in conjunction with the net realizable value of inventories.

During the reporting period, the estimated impact of non-recurring gains and losses on the Company's net profit amounted to approximately RMB9.5 million, which had no significant impact on the earnings for the period.

About Hybribio:

Hybribio (Stock code: 300639.SZ) is the leading supplier of nucleic acid molecular diagnostic products in China, with a complete operation chain, from research and development, production, to sales. In 2017, Hybribio was listed in GEM of Shenzhen Stock Exchange.

It developed its IVD platform based on patented technology - “Flow-through Hybridization”, which has been licensed by The University of Hong Kong，and established two major R&D lines - infectious pathogen detection and genetic disease detection. Its products, which have been approved by NMPA and have obtained CE-IVD licenses, have been extensively used in medical and research laboratories in European and Asian countries. Working with partners from different countries, the sales and marketing teams aim for providing an effective strategic marketing plan catered for different markets. More than 25 countries in Asia Pacific, South East Asia, Middle East, Europe, Africa, and South America use the company` s IVD products for national screening, clinical and research purposes. So far, Hybribio’s diagnostic reagents have been exported to nearly 30 countries.

The core patented technology of Hybribio obtained "the Gold Medal of China Patent Award" in 2016, and the competitive product of Hybribio’s HPV diagnostic reagent passed the World Health Organization's External Quality Assessment for four consecutive years (all 100% consistent).  

Three As – authentic, accurate, and affordable - have been the core values of our product, which have made them one of the biggest molecular diagnostic companies in China. They provide product and services to over 1800 hospitals and medical institutes in China. Over 180 scientists and technical personnel are stationed in China and Hong Kong, providing on-site technical training and after-sales technical service support.

Taking advantage of the accumulated experience in the field of molecular diagnosis and their R & D technology in the past 16 years, shortly after the outbreak of COVID-19, Hybribio has successfully developed two nucleic acid detection kits for novel coronavirus COVID-19, applying the fluorescence RT-PCR method and Sanger sequencing method respectively. The two kits were used to quickly recognize, identify suspected patients, to distinguish patients between influenza and novel coronavirus, and to assist medical institutions and disease control departments to take timely and effective prevention and control measures. On March 4th, the COVID-19 Real-Time PCR Kit of Hybribio was CE-certified by the European Union.

Hybribio has 20 Medical Laboratories all over China, and 18 of them (Guangzhou, Beijing, Chongqing, Jinan, Xi'an, Chengdu, Nanchang, Kunming, Zhengzhou, Wuhan, Taiyuan, Shanghai, Fuzhou, Guiyang, Hefei, Changsha, Shenyang, Xianggang) have obtained the qualification of COVID-19 testing.

The government of Guangdong province has entrusted 6 Medical Laboratories to undertake the screening of COVID-19 and Hybribio is one of them. The negative and positive samples detected by the Guangzhou Hybribio Medical Laboratory have been reviewed by the department of Provincial Center for Disease Control and Prevention, and the compliance rate was 100%.

One of its core corporate goals is to foster a long-lasting cooperative relationship with our partners. It is their mission to provide the local community with quality service and comprehensive diagnosis. By incorporating their strength and service to our list of collaborations, the company hopes it will bring one step closer to their goal.