MGI Tech reported first half 2026 revenue grew 19 percent year over year to 1.34 billion yuan ($199.4 million) from 1.15 billion yuan in the prior-year period.
According to the company’s semiannual report filed with the Shanghai Stock Exchange on Aug. 22, the Chinese sequencing and laboratory automation company’s fastest-growing segment was multiomics, where revenue rose 45 percent year over year to 162.2 million yuan.
Sequencing, including both short-read and long-read platforms, grew 18 percent year over year to 1.06 billion yuan. Laboratory automation revenue rose 4 percent year over year to 116.2 million yuan.
Within the sequencing segment, consumables revenue grew 16 percent year over year while instrument revenue fell 6 percent.
R&D expenses fell 29 percent to 277.6 million yuan from 392.7 million yuan a year earlier. The company attributed the decline to core R&D projects completed in 2025 moving into a maintenance phase.