MGI Tech Co., Ltd. (hereinafter referred to as "MGI Tech") recently disclosed during institutional research that the company delivered strong performance across key areas in the first three quarters of 2025, including order backlog, platform replacement, and core product installations, laying a solid foundation for future growth.
At the product level, MGI Tech’s core sequencers demonstrated robust installation growth, driven by strong demand for high-end equipment. The T1+ sequencer, launched in March this year, has gained significant industry recognition, with installations accelerating rapidly. In the Europe-Africa region, quarterly installations of the DNBSEQ-T series doubled year-over-year. In the U.S., the DNBSEQ-T7 series led sales, with combined revenue from T7 instruments and sequencing reagents accounting for 72% of the region’s core business income. The sustained growth in installations ensures recurring revenue from consumables and reaffirms the global recognition of MGI Tech’s high-end products.
Regarding order backlog, as of October 20, 2025, the company’s backlog reached RMB 770 million. Domestic orders accounted for RMB 520 million (68%), while overseas orders totaled RMB 250 million (32%). By business line, full-length sequencing—the core pillar—contributed RMB 580 million (75%), followed by multi-omics (RMB 90 million) and intelligent automation (RMB 100 million), reflecting steady momentum in emerging segments.
Additionally, MGI Tech has accelerated platform replacement this year, further consolidating its domestic market leadership. Nearly 400 sequencers have been shipped for replacement purposes, and public bidding data shows that the company secured over 70% of high-throughput sequencer contracts before October 1, 2025, far outpacing overseas competitors’ 15% share.
By sector, research service providers adopted replacements fastest, with shipments rising ~20% YoY in the first three quarters. Public institutions like hospitals and CDC centers will proceed with procurement after budget approvals by year-end. While clinical replacements face longer cycles (3–5 years due to certification processes), long-term potential remains clear.
Notably, MGI Tech’s replacement strategy integrates long-read and short-read sequencing with multi-omics solutions, offering comprehensive upgrades to enhance market competitiveness.
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