BioNexus Gene Lab Corp

Listed Company

BGLCCIK 0001737523NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Medical LaboratoriesWyomingFY ends Dec 31

Period

FY 2025

Revenue

$7.42M

Net Income

$-2.98M

Total Assets

$9.25M

Equity

$8.61M

Shares Out

2.42M

Op. Cash Flow

$-1.84M

Business

BioNexus Gene Lab Corp operates two principal businesses through its wholly owned subsidiaries: Chemrex, a wholesale distributor of chemical raw materials, and MRNA Scientific, a molecular diagnostics lab developing RNA‑based liquid biopsy tests. It offers FRP and other resins and composites for industrial, medical, appliance, aero, automotive and electronic manufacturers, and non‑invasive blood tests that analyze RNA biomarkers to screen for multiple cancers, inflammatory diseases and osteoarthritis. Its key segments are the Chemical Raw Material business (Chemrex) and the MRNA Diagnostics business (MRNA Scientific). The company sells FRP products via distributors and direct sales to manufacturers across Southeast Asia (including Malaysia, Indonesia and Vietnam) and provides diagnostic screening through partnerships with healthcare providers, hospitals, laboratories and sample collection centers.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
REVENUE (including $68,104 and $112,556 of revenue from related party for the year ended December 31, 2025 and 2024 respectively)	7	10	10	11	13
COST OF REVENUE (including $9,503 and $297,736 of cost of revenue from related party for the year ended December 31, 2025 and 2024, respectively)	−6	−8	−8	−10	−11
GROSS PROFIT	1	1	1	1	2
Dividend income	22,112	68,130	61,409	—	—
Interest income	83,888	147,641	68,675	—	—
Fair value gain on investments in equity securities	0	69,476	306,614	—	—
Gain on disposal of investments in equity securities	27,201	38,409	—	—	—
Reversal of expected credit losses	144,767	2	0	—	—
Gain from foreign exchange	94,664	0	—	—	—
Others	59,485	59,405	42,093	179,283	66,491
TOTAL OTHER INCOME	432,117	2	486,036	—	—
Sales and marketing	−2	−2	−596,858	—	—
Research and development	−50,670	−47,511	−54,982	—	—
General and administrative (including $4,206 and $1,969 of rental expenses to related party for the year ended December 31, 2025 and 2024, respectively)	−2	−2	−2	−2	−1
Share-based compensation	−794,770	−141,000	—	—	—
Fair value loss on investments in equity securities	−93,965	0	—	—	—
Provision for expected credit losses	−271,211	−883,533	—	—	—
TOTAL OPERATING EXPENSES	−4	−5	−4	—	—
LOSS FROM OPERATIONS	−3	−2	−3	−291,177	1
FINANCE COSTS	−19,542	−21,146	−13,929	—	—
LOSS BEFORE TAXES	−3	−2	−3	−303,656	1
Deferred tax	0	−12,305	17,359	—	−26,736
Income tax	0	15,799	—	—	—
Tax expense	0	3,494	−21,526	−52,310	−291,283
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	−3	−2	−3	−355,966	751,571
Foreign currency translation gain	434,251	122,294	—	—	—
COMPREHENSIVE LOSS	−3	−1	−3	−664,766	517,625
Earnings per share - Basic and diluted	−1.61	−0.9	—	—	—
Weighted average number of common stocks outstanding, Basic and Diluted #	2	2	—	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2022 2022-12-31
Cash and bank balances	2	2	—	—	—
Fixed deposits placed with financial institutions (including $1,553,322 and $1,490,461 of fixed deposits with original maturities more than 3 months as of December 31, 2025 and December 31, 2024 respectively)	2	3	—	—	—
Trade receivables, net of allowance for credit losses of $703,995 and $517,877 as of December 31, 2025 and December 31, 2024 respectively (including $31,420 and $47,272 of trade receivables from related party as of December 31, 2025 and December 31, 2024 respectively)	505,885	1	—	—	—
Other receivables, deposits and prepayments	81,728	203,660	—	—	—
Other assets	83,333	0	—	—	—
Tax recoverable	61,384	84,167	57,588	—	31,551
Inventories (including goods in transit of $Nil and $188,797 as of December 31, 2025 and December 31, 2024 respectively)	676,703	1	1	—	977,807
Total current assets	5	7	8	—	6
Operating lease right-of-use assets	177,737	215,243	141,544	141,544	55,730
Property, plant and equipment, net	2	2	2	—	2
Investments in equity securities	2	1	—	—	—
Total non-current assets	4	3	3	—	3
TOTAL ASSETS	9	10	11	—	9
Trade payables	2,335	2	—	—	—
Other payables and accrued liabilities	401,611	284,108	180,912	—	103,370
Current portion of operating lease liabilities	59,147	50,816	34,632	—	16,569
Advance payment from customer	8,385	95,879	0	—	23,123
Amount owing to directors	49,479	17,174	—	—	—
Total current liabilities	520,957	2	2	—	2
Non-current portion of operating lease liabilities	116,899	159,741	98,763	—	40,206
Total non-current liability	116,899	159,741	111,018	—	71,072
TOTAL LIABILITIES	637,856	2	2	—	2
As at December 31, 2025, common stock, no par value; 300,000,000 shares authorized and 2,417,314 shares outstanding, and preferred stock, no par value; 30,000,000 shares authorized and no shares outstanding. As at December 31, 2024, common stock, no par value; 300,000,000 shares authorized and 1,796,766 shares outstanding, and preferred stock, no par value; 30,000,000 share authorized and no shares outstanding (on a post-reverse stock split basis)*.	20	17	17	—	11
Additional paid in capital	−5	−5	−5	—	−5
Accumulated deficit	−6	−3	−2	—	1
Accumulated other comprehensive losses	−120,749	−555,000	−677,294	—	−409,062
TOTAL STOCKHOLDERS' EQUITY	9	8	10	—	7
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	9	10	11	—	9

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−3	−2	—	—	—
Amortization of right-of-use asset	56,434	48,983	—	—	—
Allowances for expected credit losses	271,211	883,533	6,261	4,165	3,809
Recoveries for expected credit losses	−144,767	−2	—	—	—
Bad debts written off	0	6,344	—	—	—
Depreciation of property, plant and equipment	111,873	104,160	83,253	91,427	91,282
Dividend income	−22,112	−68,130	—	—	—
Fair value loss/(gain) on investments in equity securities, net	93,965	−69,476	—	—	—
Loss arising from settlement of supplier contract dispute	0	29,534	0	—	—
Gain on disposal of investments in equity securities	−27,201	−38,409	—	—	—
Loss on lease termination	0	1,384	0	—	—
Impairment on property	0	40,173	—	—	—
Operating loss before working capital changes	−2	−2	—	—	—
Inventories	711,921	−250,854	−160,387	544,108	−345,745
Trade, other receivables and other assets	782,841	147,760	—	—	—
Trade and other payables	−1	204,342	−381,293	−119,695	−1
Advance payment from customer	−87,494	95,879	−23,123	−7,184	30,307
Operating lease liabilities	−34,511	−42,895	76,620	−126,686	−20,169
Tax recoverable/(liabilities)	22,783	−38,834	−44,648	—	—
Net cash used in operating activities	−2	−2	−2	551,822	9,161
Acquisition of investments in equity securities	−9,159	−492,732	—	—	—
Dividend income	22,112	68,130	—	—	—
Change in fixed deposits placed with original maturities more than three months	−62,860	−78,835	—	—	—
Purchase of plant and equipment	−36,971	−226,989	−149,398	0	−3,162
Proceeds from disposal of investments in equity securities	1	1	—	—	—
Proceeds from settlement of supplier contract dispute	0	79,851	—	—	—
Net cash generated from investing activities	944,751	418,202	−2	−450,498	−490,574
Advances from Directors	32,305	3,975	—	—	—
Cash paid for fractional shares in reverse stock split	−775	0	—	—	—
Share subscription	267,311	0	—	—	—
Net cash generated from financing activities	298,841	3,975	6	108,168	−28,222
Foreign currency translation adjustment	194,207	40,339	−259,679	−214,547	−154,138
NET CHANGE IN CASH AND CASH EQUIVALENTS	−400,583	−2	2	−5,055	−663,773
Fixed deposits placed with financial institutions with original maturities of three months or less	103,014	1	2	2	2
Cash and bank balances	2	2	—	—	—
Cash and cash equivalents, end of financial year	2	3	5	—	—
Interest paid	−6,865	−9,351	−8,877	−12,479	−12,973
Income tax refunded	43,655	0	312	—	0
Income tax paid	−14,823	−40,380	−66,973	−170,447	−226,770
Acquisition of investment via share exchange	−2	0	—	—	—

Filings

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