With severe outbreak of COVID-19 cases in Hong Kong, there has been a shortage of rapid antigen test kits in the market and a test kit costs over HK$120 in many cases, making them unaffordable for low-income families and nonprofit organizations. In response to the situation, Qiming Venture Partners joined hands with a number of major retailers and logistics companies in Hong Kong to introduce rapid antigen test kits from companies that are included in the EU’s Common List of COVID-19 Rapid Antigen Tests, about 20 million pieces per day, with a proposed retail price of HK$15 or less.
Retailers that have confirmed their participation include APITA, UNY, Citistore, U Select, FOTOMAX, Sasa, Ztore and Neigbuy. Hong Kong citizens can buy rapid antigen test kits through these retailers’ offline or online sales channels. At the same time, several major retailers are actively preparing to participate in the initiative. SF Express and Kerry Logistics are providing logistics services to nonprofit organizations for this initiative, while Lenovo has provided technical support.
Immediately after the shortage of rapid antigen test kits in Hong Kong, Qiming Venture Partners has reached out to many manufacturers through its extensive network, enabling these manufacturers to connect directly with the retailers. This way, affordable and reliable rapid antigen test kits can be provided to the public in a short period of time. To ensure test sensitivity, all manufacturers partnered achieve CT value of 25 or higher.
It is worth mentioning that, in addition to commercial organizations, local charities have purchased the test kits through this initiative, including the Lee Hysan Foundation and the Lee Man Tat and Choi May Ling Charitable Foundation.
All major retailers in Hong Kong are welcomed to participate in the initiative. Participating retailers are required to commit that the rapid antigen test kits can only be sold locally in Hong Kong and at retail price of HK$15 or less.
To participate in this initiative, please contact: RAT@qimingvc.com.
