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Kindstar Globalgene Announces FY2021 Annual Results, Revenue Increases to RMB930.67 Million

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HONG KONG, Mar 25, 2022 - (ACN Newswire) - Kindstar Globalgene Technology, Inc. ("Kindstar Globalgene" or the "Company", together with its subsidiaries, collectively the "Group"; stock code: 9960.HK), a leading independent esoteric clinical testing service provider in China, today announced its audited annual results for the year ended 31 December 2021 ("2021" or the "Year").

During the period under review, the Group recorded total revenue of RMB930.67 million, representing a year-on-year increase of 4.4%. Revenue from non-COVID-19-related testing services was RMB868.57 million, an increase of 12.3%. The Group's consolidated gross profit was up by 5.4% year-on-year to RMB485.77 million, while the consolidated gross profit margin rose by 0.5% year-on-year to 52.2%. Cash and cash equivalents amounted to RMB1,796.7 million, a growth of 113.6% year-on-year. The non-COVID-19-related testing services segment recorded results of RMB197.18 million, an increase of 17.5% year-on-year. The Board has resolved not to distribute a dividend for FY2021.

Focused on specialty esoteric testing services and vigorously developed related services in six major specialty areas

Since its inception in 2003, the Group has been focusing on esoteric clinical testing services and is one of the first companies in China entering the esoteric testing service industry. During the period under review, the Group covered more than 3000 hospitals, in which over 60% are Class III hospitals, added three new laboratories and its esoteric testing volume exceeded 1.68 million, with positive growth in all six major esoteric testing specialty areas.

-- Hematology testing: The Group introduced 50 new testing items and added the Shanghai Xinnuo Baishi Medical Laboratory. During the period, the Group achieved revenue of RMB535.27 million and segment results of RMB152.57 million, representing a year-on-year increase of 14% and 15.7%, respectively.
-- Neurology testing: The Group launched six new projects covering diseases such as Alzheimer's disease and myasthenia [gravis] and also added 143 partnering Class III hospitals. The Group recorded revenue of RMB89.85 million and segment results of RMB14.06 million during the period, a year-on-year increase of 18.2 and 11.6%, respectively.
-- Maternity-related testing: The Group added the diagnosis of gestational syndromes during the period, and recorded revenue of RMB52.25 million and segment results of RMB3.55 million, representing a year-on-year increase of 0.2% and 0.5%, respectively.
-- Genetic disease and rare disease testing: During the period, the Group realized revenue of RMB43.50 million and segment results of RMB5.43 million, representing a year-on-year increase of 20.2% and 126.4%, respectively. Sales of multiple steroid hormone tests doubled year-on-year.
-- Infectious disease testing: The Group introduced 28 new testing items and added the Wuhan Kindstar Zhenyuan Medical Laboratory, achieving revenue of RMB51.97 million and segment results of [RMB]9.78 million during the period, representing a year-on-year increase of 3% and 33.2%, respectively.
-- Oncology testing: The Group launched new testing service items for various types of cancer, including intestinal cancer, cervical cancer, bladder cancer and liver cancer, achieving revenue of RMB8.62 million and segment results of RMB0.83 million during the period, 13.4% and 82.5% higher than the same period last year.
-- Others: The Group added more than 20 scientific research service projects in the areas of research services, CRO and new testing services, achieving revenue of RMB19.46 million and segment results of RMB5.99 million during the period, representing a year-on-year growth of 36.1% and 35.1%, respectively.

Persistent R&D investment to develop and expand new specialty esoteric testing business lines

As at 31 December 2021, the Group's R&D expenses amounted to RMB90.33 million, a year-on-year increase of 20.0%.The Group had 112 new R&D projects, 17 patents were pending or granted and 23 scientific research articles were published throughout the year. During the period under review, the Group stepped up its efforts in promoting the development of specialty esoteric testing services in China and expanding the scope of such services to cover cardiovascular diseases, ophthalmology, rheumatology and immunology.

-- Cardiovascular diseases: The Group focused on the R&D of biomarkers for cardiovascular diseases such as coronary heart disease, acute myocarditis and acute myocardial infarction. It also conducted verification studies on the clinical value of biomarkers.
-- Ophthalmology: The Group actively explored opportunities in ophthalmic structured esoteric testing services and its R&D covered testing solutions for hereditary oculopathy, infectious oculopathy and autoimmune oculopathy.
-- Rheumatology and immunology: The Group began the initial development of six types of disease and drug detection projects, covering sicca syndrome, rheumatoid arthritis, ankylosing spondylitis, gout, antiphospholipid syndrome and allopurinol detection.

Entered the IVD reagents field and optimized immune repertoire deployment

Wuhan Haixi Life Science Technology Co., Ltd., which the group owns a controlling stake, is a high-tech enterprise based on the R&D, manufacturing and sales of esoteric testing reagents providing systematic, comprehensive "high-precision and cutting edge" testing reagent products. The Group's main products, namely reagent kits for JAK2 genes and V617F mutations (PCR-fluorescent probe method) and reagent kits for leukemia fusion genes qualitative testing (PCR-fluorescent probe method) will enter the clinical trial stage of NMPA registration. During the period under review, the Group established its business presence in the field of IVD reagent kits in the upstream industry chain by holding shares in Wuhan Haixi Life Science Technology Co., Ltd.

As an important next-generation sequencing technology, the immune repertoire sequencing technology may bring disruptive changes to the industry in the future. During the period under review, the Group established Wuhan Kindstar Biotechnology Co., Ltd., which will focus on the application and development of the immune repertoire technology in multiple disciplines and explore the biopharmaceutical and immunotherapy pathways. In addition, to further improve its immune repertoire layout, the Group invested in Shenzhen Neoimmune Co., Ltd., a leading immune repertoire enterprise in China. Looking ahead, the two parties will commence strategic cooperation in the immune repertoire segment.

Strategy and Prospects

The Group will continue to consolidate its leading position in esoteric hematology testing in China and replicate its successful experience in hematology to expedite the growth of its specialty esoteric testing business in areas such as genetic diseases, rare diseases, infectious diseases, oncology and neurology. In the next three to five years, the Group will enter several new areas of specialty esoteric testing. At the same time, the Group is also committed to building strong relationships with a wide range of participants in the clinical esoteric testing industry (including doctors, hospitals, pharmaceutical companies, contract research institutions, academic institutions and regulatory agencies), deepening existing strategic partnerships, and expanding the existing cooperation network. Since its listing, the Group has attached great importance to opportunities for horizontal and vertical integration in the industrial chain. In the future, the Group will steadily achieve a strategic and forward-looking layout through investment, integration and empowerment, in order to boost its growth.

Huang Shiang, Chairman and Chief Executive Officer of Kindstar Globalgene, expressed full confidence in the future of China's esoteric clinical testing industry. He said, "Due to increasing public health awareness and an aging population in China, the demand for clinical tests has continued to increase. In recent years, China's esoteric clinical testing market has been growing faster than its routine testing market, and the Company has strived to develop and introduce advanced technologies to meet the enormous unmet medical demand in the country. Looking ahead, we will actively overcome the various uncertainties caused by the COVID-19 pandemic, while continuing to work hard to maintain the steady growth of our existing esoteric clinical tests, and develop and launch new services in specialty areas, thereby contributing to the precise diagnosis and advancement of treatments in specialty areas in China."

Kindstar Globalgene 2021 Annual Results Announcement:
https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0325/2022032501238.pdf

Infographics for Kindstar Globalgene 2021 Annual Results Announcement:
https://mp.weixin.qq.com/s/h1rKtS_79dJ-Symd7Prz0w

About Kindstar Globalgene Technology, Inc.
Kindstar Globalgene Technology, Inc. ("Kindstar Globalgene" or the "Group"; stock code: 9960.HK) is a leading independent esoteric clinical testing service provider and a major provider of hematology esoteric testing services in China. It has built a comprehensive testing portfolio, a broad hospital network and advanced technology platforms and also boasts the largest esoteric testing portfolio among all independent esoteric testing providers in China, with more than 3,500 tests on its service menu and offering one of the most extensive hematology testing portfolios worldwide, including over 2,300 testing items in the field. The Group primarily targets specialty areas with substantial growth potential or that can create significant synergies with its esoteric hematology testing services, including genetic diseases and rare diseases, infectious diseases, oncology and neurology. The Group was listed on the Main Board of the Hong Kong Stock Exchange on 16 July 2021. Over the past 18 years, the Company has developed more than 1,100 testing items entirely in-house, and introduced approximately 2,400 testing items developed by or under license from third parties. The Group serves more than 3,000 hospitals in China, of which more than 1,500 are Class III hospitals, including all of the top 20 hospitals in the nation. The Group's mission is to offer a broad range of high-quality specialty testing services to patients and physicians worldwide, and to promote the application of precision diagnostics and medicine.

The Group's website: https://www.kindstar.com.cn/tc/



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comKindstar Globalgene Technology, Inc. ("Kindstar Globalgene" or the "Company", together with its subsidiaries, collectively the "Group"; stock code: 9960.HK), a leading independent esoteric clinical testing service provider in China, today announced its audited annual results for the year ended 31 December 2021 ("2021" or the "Year").

Analog Design Acceleration for Chiplet Interface IP

Compared to the automation of digital design, the development of automation for analog has taken a much more arduous path. Over the decades there have been many projects both academic and commercial to accelerate and improve the process for analog design. One of the most interesting efforts in this area is being spearheaded by … Read More

The post Analog Design Acceleration for Chiplet Interface IP appeared first on SemiWiki.

The resurrection of tellurium as an elemental two-dimensional semiconductor

Purdue University researchers review the recent progress in synthesizing atomically thin Te two-dimensional (2D) films and one-dimensional (1D) nanowires, including applications in field-effect transistors & potential for building ultra-scaled CMOS circuits.

The post The resurrection of tellurium as an elemental two-dimensional semiconductor appeared first on Semiconductor Engineering.

Set up a text summarization project with Hugging Face Transformers: Part 2

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How Are Some Leaders Able to Connect With Their Communities, Followers, and Stakeholders in Ways That Others Struggle?

Tag Template - News Hub PROMarch 23, 2022 – Even with the deluge of leadership books on the market, a superintendent of a large school ... Read more
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Research infrastructures found to have an astronomical impact on astronomy’s carbon footprint

Study finds that research facilities emit at least 1.2 million tonnes of carbon dioxide equivalent every year

The post Research infrastructures found to have an astronomical impact on astronomy’s carbon footprint appeared first on Physics World.

Value Research Center (VRC) authors Value Model integrating ESG and Sustainability Measures

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KYOTO, Japan, Mar 23, 2022 - (JCN Newswire) - The Value Research Center (VRC) launched an integrated Value Model of ESG and Sustainability measures in a new white paper issued today. With the shift from short term, profit-focused thinking towards long-term, sustainable, value-focused thinking, businesses globally need to answer a fundamental question: "What value are you providing our collective future?"

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A Value Model for Responsible Business: The new Value Research Center (VRC) white paper was officially released today. The VRC initiative is aimed at improving company performance and social impact.

The VRC at Doshisha University was established in November 2021 to develop a Value Model that could guide any company to answer this question, so ensuring a more sustainable future. The VRC published its initial white paper, "Valuing Value", in June 2021, integrating 357 impact measurements from 15 of the world's top ESG and sustainability frameworks and developing a 7-stakeholder, 27-theme, 80-goal model to help businesses objectively and transparently measure and manage the value impacts that they have on their key stakeholders.

The VRC's new white paper entitled "A Value Model for Responsible Business", integrates an additional 346 impact measurements from 6 new frameworks into the initial model. These 6 frameworks include the International Sustainability Standards Board (ISSB) Prototype Climate-related disclosures; Task Force on Climate-related Financial Disclosure (TCFD) guidance on metrics, targets and transition plans; Stockholm Resilience Center's Planetary Boundaries; United Nations Development Program (UNDP) SDG Impact Standards for Enterprises; International Finance Corporation (IFC) Performance Standards; and Science Based Targets initiative (SBTi) climate disclosures.

Professor Philip Sugai, Director of the VRC, says "Our team analyzed hundreds of existing impact measurements and organized these into 27 common themes, with 81 goals that any company, regardless of their size, industry or location can use to measure, manage and use to consistently increase the value they create for their stakeholders. Unlike existing ESG or sustainability reporting models, the VRC Value Model offers companies the ability to track their actual stakeholder impacts, using this data to create forward-looking strategies aimed at further increasing the value they create for and with these stakeholders."

Masato Yamazaki, Professor Emeritus of Economics at Aquinas College, Grand Rapids, Michigan, and VRC operating council member, said "The Value Model that our VRC research team offers is a more advanced approach than any other sustainability model or approach in existence today, since it can automatically help identify the root causes of the problems companies face via well-developed assessment tools."

"What is needed in sustainability efforts today goes beyond simple reporting," says Dr. Kumar Iyer, Mentor for Value Creation and VRC operating council member. "The VRC Value Model is based on objective metrics and quantifiable indicators which can be independently verified. This is uniquely different from any other sustainability reporting approach as it is directly linked to creating social impact."

The white paper is available for download at the VRC website:
https://www.valueresearchcenter.com/2022whitepaper

About the Value Research Center (VRC)

The Value Research Center (VRC) was officially established at Doshisha University in Kyoto, Japan in November 2021. The VRC aims to research and develop an open, accessible and transparent system for measuring, monitoring, assessing and reporting on value creation (destruction) impacts that organizations of any size make on the 7 stakeholder groups including (1) the organization itself, (2) shareholders or owners, (3) customers, (4) employees, (5) partners, (6) the society within which it operates, and (7) the planet.

Learn more about the VRC and its projects at https://www.valueresearchcenter.com, or email Philip Sugai at
info@valueresearchcenter.com

* Webinar, March 25 - IAFOR discusses the white paper with VRC Director Philip Sugai
Dr. Joseph Haldane, Chairman & CEO of the International Academic Forum (IAFOR) will discuss the contents of this new white paper with VRC Director Prof. Philip Sugai in a Webinar on Friday, March 25, 5:00 - 6:00 pm JST, in collaboration with the new ESG-IREC Research Center at Osaka University. This webinar will be free to attend, and reservations can be made at: https://tinyurl.com/IRC-VRC-20220325

About the IAFOR Research Center (IRC)
IRC aims to provide a research centre to nurture various international and interdisciplinary research policies that use the extensive networks of both Osaka University and IAFOR. https://iafor.org/.

About the ESG-IREC Research Center
The Osaka University Graduate School of International Public Policy - ESG Integration Research and Education Center (ESG-IREC) conducts research on practically implemented "ESG integration" models in corporate business activities for the creation of a more sustainable future. https://www.osipp.osaka-u.ac.jp/en/.


Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comThe Value Research Center (VRC) launched an integrated Value Model of ESG and Sustainability measures in a new white paper issued today. With the shift from short term, profit-focused thinking towards long-term, sustainable, value-focused thinking, businesses globally need to answer a fundamental question: "What value are you providing our collective future?"

US Department of Justice reframes controversial China Initiative

The US’s China Initiative has been expanded to focus not only on individual scientists with links to China but also on other foreign governments

The post US Department of Justice reframes controversial China Initiative appeared first on Physics World.

NCVirtual E-lert for Mar. 21, 2022 (Registration for 22-23 Opens March 31)

An item from a US-based K-12 online learning program. 2021-2022 Guide 2022-2023 Guide Grade Reporting      Parent App      March 21, 2022 Greetings, everyone! Registration for the 2022-2023 school years opens on March 31. See all the details in our 2022-2023 Academic Year section below. We also have details on our Partnership Course Program, […]

Flat-surface-assisted and self-regulated oxidation resistance of Cu(111)

Researchers develop copper thin films that are semi-permanently oxidation resistant because they consist of flat surfaces with only occasional mono-atomic steps.

The post Flat-surface-assisted and self-regulated oxidation resistance of Cu(111) appeared first on Semiconductor Engineering.

And the Oscar Goes to: How Swarm AI’s Predictions Beat Movie Critics’ Choices

The tech takes its cue from nature, helped turn $20 into $11,000 in horse races
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