Company: BGLC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001477932-25-002725
Chunk: 266

Company: BioNexus Gene Lab Corp
Filing Date: 2025-04-15
Form: 10-K
Item: Item 10
Chunk 266
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 reviewed by the Company’s Chief Executive Officer who is identified as the Chief Operating Decision Maker (“CODM”). The Company consists of three operating units, BioNexus Gene Lab Corp., MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd. which are determined as three reportable segments, as described below. These reportable segments offer different products and services, and are managed separately because they require different technology and marketing strategies. The following describes the operations in each of the Company’s reportable segments: ·Trading of industrial chemicals- Includes trading of industrial chemicals·Provision for genomic screening services- includes in commercializing proprietary blood-based diagnostic test for early disease detection·Investment holding- Investment holding The CODM evaluates the performance of each reportable segment based on operating income and key segment-specific metrics. There are no inter-segment revenue transactions between reportable segments. Except for investment holding activities and the revenue to the overseas customers as disclosed in Note 9, the Company’s revenue and principal operations are substantially confined within Malaysia. Pursuant to ASU 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures”, the financial information concerning the Company’s reportable segments is shown as below:

 F-25Table of Contents

BIONEXUS GENE LAB CORP.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2024 AND 2023

(Currency expressed in United States Dollars (“US$”))

(Audited)

  Provision for genomic screening services  Trading of industrial chemicals  Investment holding  Total   Year ended December 31, 2023              REVENUE $24,219  $9,746,587  $-  $9,770,806                  COST OF REVENUE  (19,851)  (8,421,457)  -   (8,441,308)                 GROSS PROFIT  4,368   1,325,130   -   1,329,498                  OTHER INCOME  19,629   466,407   -   486,036                  OPERATING EXPENSES                Sales and marketing  (18,884)  (569,896)