HONG KONG -- China's COVID-testing companies face stiff headwinds after Beijing's abrupt U-turn on its virus policies, with many likely to suffer from shrinking business following the end of mass compulsory testing.
A slew of Chinese providers of COVID testing services and rapid antigen tests saw net profit attributable to shareholders jump for the first nine months of 2022. One surged as much as 31 times year on year, research by Nikkei Asia shows.
