07/09/2022
China's zero-Covid strategy of endless testing and lockdowns has hammered its economy and taken a toll on company profits, but it has delivered a windfall for test makers.
Twelve of China's top Covid testing firms have recently posted huge increases in both revenues and net profits for the first half of this year.
Andon Health, which supplies Covid test kits both at home and abroad, reported that its net profit skyrocketed by 27,728% in the first six months of 2022, reaching 15.24 billion yuan ($2.2 billion). It was the biggest increase recorded by any listed company in mainland China.
China's zero-Covid strategy of endless testings and lockdowns has hammered its economy and taken a toll on company profits, but it has delivered a windfall for test makers.
