Companies in the GBA | A Fortune Global 500 company with the slogan of “Benefit Mankind”

南方财经全媒体记者 杨雨莱 广州报道

E-type personality or I-type, MBTI, constellations, blood types…People are endlessly fascinated by dissecting themselves in myriad ways. But what truly determines our core personality? The ultimate answer is genes.

Genetics, hailed as the next game changer is the foundation of the most widely used technology of gene sequencing. Now what’s “gene sequencing”? To put it simply: Imagine the coronavirus as a beaded bracelet, each bead represents a unique gene with a specific function. Gene sequencing is akin to deciphering the sequence of these beads, then, zoom in to check how those basic groups are arrayed. When the basic group’s array is shown, the nucleotide sequence of the coronavirus will be revealed entirely.

The prospects of gene sequencing is promising, with an estimated global market exceeding 40 billion US dollars in 2026. China has over 16,000 companies dedicated to gene testing, led by BGI Genomics and Berry Genomics. Today, our story is about BGI, a Fortune Global 500 firm. 

The history of BGI Genomics, is the first chapter of China’s gene sequencing development. In the 1990s, the “Human Genome Project (HGP)” was launched. One Chinese researcher, along with several others, was part of this project. This man’s name is Wang Jian. In 1999, he founded China’s first genetic firm, BGI Genomics. 

BGI’s slogan is “Using Genetic Technology to Benefit Mankind”. But what problems can genetic technology solve for mankind, exactly? According to Yin Ye, CEO of BGI, they can be boiled down to three things: First, to detect birth defects. Second, to diagnose gene mutations, or tumors. Third, to detect exotic invasive infections, such as COVID-19.

And these are the core businesses of BGI. From noninvasive prenatal screening and assisted reproduction, to tumor diagnosis and treatment, then to genetic disease detection and COVID-19 tests, BGI stands at the forefront of genomics research and clinical applications. In the first half of 2023 alone, genomics application brought BGI a revenue of 2.07 billion yuan.

However, BGI’s journey has not been without challenges. Recently, the company was embroiled in controversy of selling counterfeit products, and its profitability encountered a major setback, as profit dropped by 90% in the first half of 2023. Its CEO Yin Ye, a prominent online influencer, has also been taunted and labeled as a “pseudoscience peddler and attention seeker”.

But before all these, BGI had been through even darker hours. Gene sequencing has a relatively high technical barrier, and extremely high costs. From 2011 to 2012, the industry was hit by supply constraints of upstream equipment. However, this in turn accelerated the independent R&D of gene sequencers in China. Today, there are only three companies in two countries that are capable of mass production of high-throughput gene sequencer with clinical application. BGI is one of the three. 

Nurtured by the inclusive and innovative soil of the Greater Bay Area, early in 2007, BGI had its core lab included in Shenzhen’s ten basic research institutions with government support. Being lifted from the mire through innovation, BGI knew better than anyone that R&D is its top priority. In the first half of 2023, its R&D investment reached 283 million yuan, with a year-on-year growth of 3.14%.

BGI has also taken the initiative to expand overseas. Launching over 100 Huo-Yan labs for COVID-19 nucleic acid testing with testing products used in over 180 countries and regions worldwide. In 2022, BGI’s revenue from Asia-Pacific, Europe, America, and Africa accounted for 48.6% of its total revenue.

Despite being constantly caught in controversies, BGI never stops exploring the mystery of life. As Yin Ye puts it, “Life is so beautiful, yet we know so little”. Perhaps we’ve only just scratched the surface of the grand tapestry of genetics.

出品：南财国际传播中心 21新媒体中心 创意互动中心

策划统筹：于晓娜 丁青云

内容统筹：谭婷 陈思颖

责任编辑：刘巷

执行统筹：黄欣然 

设计统筹：林军明

视频统筹：白宇航

监制：施诗

英文翻译&配音：李莹亮

海外运营监制: 黄燕淑

海外运营内容统筹: 黄子豪

运营支持：曾静娇

审校：魏雯静 黄志明