Posted on 11/03/2022 6:58:52 PM PDT by nickcarraway
Several of China's largest medical testing companies have posted big increases in profit for the first three quarters of the year, as the country's strict zero-COVID policy boosts spending in a minority of sectors while depressing the broader economy.
Over the past two weeks, at least six such companies have reported a soaring jump in earnings.
Shanghai Labway reported a 241 per cent year-on-year increase in net profit between January and September to 604 million yuan (US$82.70 million) while Guangdong Hybribio recorded a 130 per cent increase over that same period to 1.49 billion yuan, according to stock exchange statements.
(Excerpt) Read more at channelnewsasia.com ...
This will keep happening as long as 10% goes to the Big Guy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.