China Biotech Services Holdings Limited provided earnings guidance for the third quarter 2019. For the quarter, the company expects to record a net loss of not less than HKD 60,000,000 for the 2019 Third Quarter Period as compared to the net loss of approximately HKD 47,866,000 recorded for the corresponding period in 2018. The increase in net loss for the 2019 Third Quarter Period was mainly attributable to (i) decrease in revenue due to economic downturn and keen competition; (ii) decrease in gross profit due to increase raw material, staff costs and other direct costs in medical laboratory testing and health check services; and (iii) increase in administrative expenses of approximately HKD 9,300,000 due to increase in amortization of intangible assets, research and development costs and legal and professional fee for corporate activities.