China’s major Covid-testing companies reported colossal profit gains in the first half of 2022, CNN reported.
Covid test kit supplier Andon Health reported a net profit increase of 27,728% to $2.2 billion, said the report, breaking a record for any listed company in mainland China. Meanwhile, Hangzhou-based Assure Tech saw a 1,324% profit increase, it said, with 10 other major firms reporting profit gains between 55% and 376%.
Read the full report: CNN
Read more:
China Banks Face Profit Squeeze From Covid, Property Crisis
China’s Covid Restrictions Affect 49 Cities, Shanghai Forum Off
China-Russia Trade Surges Despite Global Demand Slump
