CH BIOTECH SER(08037) is expected to have a shareholder's net loss of approximately HK$180 million in 2024.

CH BIOTECH SER (08037) announced that the group is expected to incur a net loss attributable to owners of the company of approximately HK$180 million for the year ending December 31, 2024, compared to a net loss of approximately HK$95.447 million for the year ending December 31, 2023. The net loss attributable to owners of the company is expected to increase significantly by approximately HK$84.553 million. The board of directors believes that the increase in net loss for the 2024 financial year is mainly attributed to: a decrease in demand for COVID-19 nucleic acid testing, increased market competition in the post-epidemic era for medical laboratory testing services and health screening services resulting in a decrease in revenue; one-time write-offs of properties, factories, and equipment related to the closure of COVID-19 nucleic acid testing facilities amounting to approximately HK$161.69 million and inventory write-offs of approximately HK$50.89 million; a one-time loss of approximately HK$259.88 million due to the impact of a typhoon on the boron neutron capture therapy project in Hainan, China in October 2024; a one-time deferred loss of approximately HK$269.93 million related to convertible bonds issued in 2022; an increase in research and development costs for chimeric antigen receptor T-cell division by approximately HK$42.68 million; and an increase in financing costs of approximately HK$63.43 million due to additional bank and other borrowings for general working capital and the boron neutron capture therapy project.