China Biotech Services Holdings Limited provided group earnings guidance for the nine months ended September 30, 2023. The board of directors of the company informed the shareholders of the company and potential investors that based on the latest information currently available to the Board including the unaudited consolidated management accounts of the Group for the nine months ended 30 September 2023, the Group is expected to record a net loss attributable to the owners of the Company of approximately HKD 65,000,000 for the 2023 third quarter period. In contrast to the Loss, the Group recorded a net profit attributable to the owners of the Company of approximately HKD 159,516,000 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 of COVID-19 quarantine requirements by the relevant government authorities.