China Biotech Services Holdings Limited provided earnings guidance for the six months ended 30 June 2023. For the period, the Group is expected to record a net loss attributable to the owners of the Company of approximately HKD 30,000,000 (the "Loss") for the 2023 Interim Period. In contrast to the Loss, the Group recorded a net profit attributable to the owners of the Company of approximately HKD 68,220,000 for the corresponding period in 2022.

The Board considers that the Loss was mainly attributable to the declines in the demand for the Group's COVID-19 nucleic acid testing services as well as the rapid antigen test kits following to the relaxation and subsequent removal of COVID-19 quarantine requirements imposed by the relevant government authorities.