On February 28, GLONGHUI | China Biotech Services (08037.HK) announced that for the year ended 31 December 2023 (“Fiscal Year 2023”), the Group is expected to record a net loss attributable to the company owner of approximately HK$90 million in fiscal year 2023. Compared with losses, the Group recorded net profit attributable to company owners of approximately HK$258 million in the same period in 2022.
The Board believes that the losses recorded were mainly due to (i) the decline in demand for the Group's COVID-19 nucleic acid testing services and rapid antigen test kits due to the relaxation and subsequent cancellation of the COVID-19 quarantine regulations imposed by the relevant government authorities; and (ii) the increase in operating expenses of the Boron Neutron Capture Treatment Center (“Boron Neutron Capture Treatment Center”) in the Boao Lecheng International Medical Tourism Pilot Zone in China's Hainan Free Trade Port.