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China’s Covid Testing Firms See Profits Skyrocket – CNN

Covid test kit supplier Andon Health reported a net profit increase of 27,728%, breaking a record for any listed company in mainland China, CNN said


A Chinese think tank has said the country's zero-Covid policy should be changed
The zero-Covid policy must be changed so that China avoids 'an economic stall', the research group said on Monday. File photo: Reuters.

 

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

 

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Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.

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