Recently, Hangzhou bori Technology Co., Ltd. (hereinafter referred to as bori Technology) submitted its listing application to the main board of the Hong Kong stock exchange. CICC is the exclusive sponsor. It is worth mentioning that the performance of bori technology has increased sharply in the past two years, and the growth trend has not stopped.

    It is understood that bori technology, established in 2002, is an enterprise specializing in the R & D, production, sales and service of life science instruments and reagents, mainly covering PCR products such as instruments, reagents and consumables.

    According to public data, the global PCR product market has further expanded and increased rapidly, from US $5.2 billion in 2015 to US $16.2 billion in 2020, with a CAGR of 19.3%. It is expected to reach US $38.8 billion by 2030.

    From 2015 to 2020, China's PCR product market grew rapidly, from US $400 million in 2015 to US $2.7 billion in 2020, with a CAGR of 43.0%.

    At present, bori technology has developed and mass produced real-time fluorescence quantitative PCR analyzer, automatic nucleic acid purification instrument, gene amplification instrument, nucleic acid purification reagent, various PCR detection reagents and sample preservation solution. According to public data, in 2020, the company's domestic sales ranked third in China's PCR equipment market with a market share of 18.5%, and its overseas sales ranked first among Chinese companies exporting PCR equipment.

    Under the epidemic situation, bori technology has not been affected, but also developed solutions from sample sampling and preservation to nucleic acid extraction and detection. Based on this, the performance has increased significantly. In terms of performance, from 2018 to 2020, bori technology achieved operating revenue of RMB 70.859 million, RMB 144.323 million and RMB 123.369 million respectively, and net profit of RMB 2.772 million, RMB 30.1422 million and RMB 217.428 million respectively.

    In recent three years, the performance of bori technology has shown a continuous upward trend. In 2018, the revenue of bori technology was less than 100 million yuan, and the net profit was only more than 2 million yuan. However, by 2020, its revenue exceeded 1.2 billion yuan, and the net profit exceeded 200 million yuan, a year-on-year increase of 621.35%.

    From January to March 2021, bori technology realized an operating revenue of 542.67 million yuan and a net profit of 264.4 million yuan. In the first three months of 2021 alone, the net profit realized by bori technology exceeded that of the whole year of 2020.

    From the perspective of products, bori technology mainly has two major businesses: instruments and reagents. Benefiting from the increased market demand of these two businesses, bori technology's performance has increased significantly.

    From 2018 to 2020 and from January to March 2021, the sales revenue generated by the instrument was 64.181 million yuan, 112.769 million yuan, 67.4537 million yuan and 290.847 million yuan respectively, and the sales revenue generated by the reagent was 6.498 million yuan, 31.167 million yuan, 51.9972 million yuan and 24.1092 million yuan respectively, accounting for 99.8%, 99.7%, 96.8% and 98% of the main business in the current period.

    In addition, the rapid growth of PCR product market is also one of the reasons.

    PCR products are mainly used in all stages of PCR detection. PCR detection is a detection method that enlarges the target fragment in the test sample enough for analysis. It is used in clinical scenes and various non clinical scenes, such as animal disease detection, customs quarantine and scientific research. In addition, the company's products can also be used in all scenarios of molecular detection. Molecular testing is a kind of test to check several genes, proteins or other molecules in tissue, blood or other body fluid samples in the laboratory.

    Novel coronavirus pneumonia may not be maintained at the same level during the epidemic period, which may lead to significant adverse effects on the company's operation, profitability and profitability, if the epidemic is controlled globally, the company said.

    According to the ownership structure, he Xianhan, as the chairman of the company, is the controlling shareholder and actual controller of the company. He owns about 58.58% of the total issued shares, including about 41.35% of the direct interests and about 8.61% and 8.61% of the indirect interests respectively through the leading factor and boriji chain.