Kindstar Globalgene Technology, Inc. provides earnings guidance for the half year ended 30 June 2022. The total revenue of the Group for first half 2022 is expected to be within the range of RMB 613 million to RMB 660 million, representing an increase of approximately 40% to 50% as compared to the total revenue of the Group of approximately RMB 438.2 million for the six months ended June 30, 2021. Meanwhile, the Group is also expected to turn losses into profits for first half 2022 as compared to the corresponding period of 2021. The Company will make appropriate announcement as to the specific amount of the expected profit for first half 2022 in due course.
The improvements in the Group's financial results were mainly due to the fact that: the Group spared no effort to minimize the severe impact of COVID-19 pandemic in some cities in China, including Shanghai. As a result, the Group ' s specialty esoteric testing services still grew steadily despite the renewal of COVID-19 pandemic in the first half 2022; there was no substantial fair value loss on financial liabilities at fair value through profit or loss (FVTPL) comparing with the corresponding period of 2021; and the Group' s COVID-19-related testing segment achieved substantial growth with more frequent testing in some cities in China because of the renewal of COVID-19 pandemic in first half 2022.