Mega Genomics Limited reported total revenue of RMB164.2 million for 2024, an 8.5% increase from RMB151.3 million in 2023. Net profit rose by 50% year on year to RMB45.0 million, reflecting strengthened performance across the Group’s core genetic testing business. Operating cash inflow stood at RMB57.2 million, providing financial support to ongoing research and market expansion activities.
Driving Growth and Segment Performance Consumer genetic testing services generated RMB159.6 million in revenue, representing 97.2% of the Group’s total and a 47.3% jump from the prior year. Although revenue from cancer screening services declined to RMB4.6 million, the Group attributed this to a marketing strategy adjustment, with a focus on refining segment offerings. Cost measures contributed to improved margins, with cost of services falling from RMB63.0 million in 2023 to RMB44.9 million in 2024. This reduction, together with ongoing product innovation, bolstered overall profitability.
Industry Context and Strategic Focus China’s healthcare sector continued to exhibit demand growth amid market challenges. In response, the Group optimized its product mix and channeled resources toward research initiatives, fostering advancements in genetic testing solutions. Ongoing clinical validations for new testing kits in fields such as cancer screening and gene mutation assessments underscore the Group’s intent to broaden its reach. ESG considerations also featured prominently, with management indicating a commitment to social responsibility and improved accessibility of genetic testing services.
Corporate Governance and Risk Management The Board comprises three Executive Directors, one Non-executive Director, and three Independent Non-executive Directors, supported by Audit, Remuneration, and Nomination Committees. These committees oversee key areas of internal control, strategic planning, and disclosure compliance. Management’s financial administration and risk oversight experience underpins the Group’s approach to addressing potential regulatory, operational, and information security risks. The Audit Committee, chaired by an Independent Non-executive Director, supervises financial reporting integrity and risk control frameworks.
Capital Structure and Equity Changes The 2024 financials reflect share repurchase activities that adjusted share capital and treasury shares. As of 31 December 2024, the Group’s total equity reached RMB614.7 million, reflecting profit contributions of RMB45.0 million and the addition of share-based payment arrangements. This capital management initiative also aligns with the Group’s longer-term objective of enhancing shareholder value while ensuring prudent resource allocation.
Key Financial Highlights In the consolidated statement of profit or loss and other comprehensive income, profit before tax grew to RMB53.6 million from RMB36.2 million in 2023, and income tax expense rose to RMB8.6 million. Research costs decreased from RMB22.4 million in 2023 to RMB19.2 million in 2024, while administrative expenses were relatively stable at RMB22.9 million. Earnings per share advanced from RMB0.14 to RMB0.22, reflecting the stronger bottom-line results.
Outlook and Future Direction Having reinforced its core genetic testing offerings and shown resilience in an evolving market, Mega Genomics Limited intends to pursue cutting-edge research and development, strengthen collaboration with industry partners, and embed ESG principles within its strategic priorities. With expanding service networks and an enhanced product pipeline, the Group aims to leverage its operational momentum and deliver sustained value to its stakeholders in the genomics and healthcare fields.