Group 1 - Wantaibio (603392.SH) reported its Q3 2025 results, with 12 institutional investors holding a total of 731 million shares, representing 57.77% of the total share capital [1] - The top ten institutional investors include major entities such as YS Health, Hong Kong Central Clearing, and various index funds, collectively holding 57.76% of shares, a decrease of 2.67 percentage points from the previous quarter [1] Group 2 - In the public fund sector, four funds increased their holdings, including Huaxia National Bio-Medical Index Fund and others, with a slight increase in holding percentage [2] - Five public funds reduced their holdings, with a total decrease of 0.10%, including funds like China National Bio-Medical Index A and others [2] - One new public fund was disclosed this period, while 253 funds were not disclosed compared to the previous quarter, indicating significant turnover in fund disclosures [2]

Core Insights - The company reported a significant decline in revenue and net profit for the first three quarters of 2025, with total revenue at 1.5 billion yuan, down 23.1% year-on-year, and a net loss of 173 million yuan, a decrease of 165.0% compared to the previous year [1][1][1] Financial Performance - In Q3 2025, the company achieved revenue of 655 million yuan, reflecting a year-on-year increase of 12.5% [1] - The net profit attributable to shareholders for Q3 was a loss of 29.38 million yuan, marking a decline of 576.3% year-on-year [1] - The adjusted net profit loss for Q3 widened to 65.01 million yuan from a loss of 22.52 million yuan in the same period last year [1] Asset and Equity Position - As of the end of Q3, the company's total assets stood at 14.371 billion yuan, a decrease of 2.2% from the end of the previous year [1] - The net assets attributable to shareholders were 12.089 billion yuan, down 1.4% from the end of the previous year [1] Business Development - The company highlighted its business developments in the Q3 report, focusing on vaccine research and production, as well as in vitro diagnostic (IVD) product development and related services [1] - During the reporting period, the company launched a nine-valent HPV vaccine and received approval for nine nucleic acid testing kits for respiratory pathogens, enhancing its molecular diagnostic product line [1] - The company also introduced a comprehensive nucleic acid testing solution for respiratory diseases, catering to various medical scenarios and improving testing efficiency [1]

证券代码：603392 证券简称：万泰生物 公告编号：2025-052 北京万泰生物药业股份有限公司 关于全资子公司出售资产暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 交易内容：北京万泰生物药业股份有限公司（以下简称"公司"）拟将全 资子公司杭州万泰生物技术有限公司（以下简称"杭州万泰"）名下持有的无法 再利用的装修类长期待摊费用及固定资产出售给养生堂有限公司(以下简称"养 生堂")。杭州万泰拟与养生堂签署《资产转让协议》，本次交易价格为 18,958.52 万元（不含增值税，下同），系根据评估机构出具的《资产评估报告》确定。 养生堂为公司控股股东，杭州万泰为公司全资子公司，本次交易构成关 联交易，但不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 本次交易已经公司第六届董事会独立董事第一次专门会议、第六届董事 会审计委员会第九次会议、第六届董事会第十一次会议和第六届监事会第十一次 会议审议通过，无需提交公司股东会审议。 截至本次关联交易，过去 12 个月内公司与同一关联人进行的 ...

证券代码：603392 证券简称：万泰生物 公告编号：2025-053 北京万泰生物药业股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 11 日（星期二）上午 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 4 日（星期二）至 11 月 10 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wtzqb@ystwt.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 北京万泰生物药业股份有限公司（以下简称"公司"）已于 2025 年 10 月 30 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财 ...

证券代码：603392 证券简称：万泰生物 公告编号：2025-051 北京万泰生物药业股份有限公司 第六届监事会第十一次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 北京万泰生物药业股份有限公司（以下简称"公司"）于2025年10月26日以 电子邮件方式向全体监事发出第六届监事会第十一次会议召开通知和会议材料。 本次会议于2025年10月29日以通讯方式召开。本次会议由公司监事会主席邢庆超 先生主持，应出席监事3人，实际出席监事3人。本次会议的出席人数、召开和表 决方式符合《公司法》等法律、法规及《公司章程》的相关规定，合法有效。 二、监事会会议审议情况 1、审议通过了《关于公司2025年第三季度报告的议案》 监事会认为： 限公司(以下简称"养生堂")。杭州万泰拟与养生堂签署《资产转让协议》，本 次交易价格为18,958.52万元（不含增值税），系根据评估机构浙江中联资产评估 有限公司出具的《资产评估报告》确定。 具体内容详见公司于指定信息披露媒体披露的《北京万泰生物药业股份有限 公司 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：603392 证券简称：万泰生物 公告编号：2025-050 北京万泰生物药业股份有限公司 第六届董事会第十一次会议决议公告 该议案已经第六届董事会审计委员会审议通过。 2、审议通过了《关于全资子公司出售资产暨关联交易的议案》 同意公司全资子公司杭州万泰生物技术有限公司（以下简称"杭州万泰"） 将其名下持有的无法再利用的装修类长期待摊费用及固定资产出售给养生堂有 限公司(以下简称"养生堂")。杭州万泰拟与养生堂签署《资产转让协议》，本 次交易价格为 18,958.52 万元（不含增值税），系根据评估机构浙江中联资产评 估有限公司出具的《资产评估报告》确定。 具体内容详见公司于指定信息披露媒体披露的《北京万泰生物药业股份有限 公司关于全资子公司出售资产暨关联交易的公告》（公告编号：2025-052）。 表决结果：同意 5 票、反对 0 票、弃权 0 票。 一、董事会会议召开情况 北京万泰生物药业股份有限公司（以下简称"公司"）于2025年10月26日以 电子邮件方式向全体 ...

Financial Performance - Total revenue for Q3 2025 was ¥654,808,087.04, representing a year-on-year increase of 12.50%[3] - The total profit for Q3 2025 was -¥46,173,564.84, a decrease of 138.31% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2025 was -¥29,383,823.61, reflecting a decline of 576.34% year-on-year[3] - Basic earnings per share for Q3 2025 was -¥0.02, a decrease of 500.00% from the same period last year[4] - Total operating revenue for the first three quarters of 2025 was CNY 1,498,369,947.13, a decrease of 23.1% compared to CNY 1,948,111,396.63 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was a loss of CNY 173,891,354.56, compared to a profit of CNY 270,486,136.27 in the same period of 2024[20] - The total comprehensive income attributable to the parent company was -¥173,421,950.63, compared to ¥266,649,096.74 in the previous year, reflecting a significant decline[21] - Basic and diluted earnings per share were both -¥0.14, down from ¥0.21 in the same period last year[21] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥7,284,554.67, down 96.32% compared to the previous year[3] - The net cash flow from operating activities for the first three quarters of 2025 was ¥7,284,554.67, a significant decrease from ¥197,795,259.27 in the same period of 2024[24] - The total cash outflow from operating activities was ¥1,913,768,403.48, compared to ¥2,684,463,229.33 in the same period of 2024, showing a decrease[24] - Cash and cash equivalents were CNY 2,339,511,140.44 as of September 30, 2025, compared to CNY 2,387,852,812.94 at the end of 2024[16] - The total cash and cash equivalents at the end of the period were ¥1,963,806,758.56, down from ¥2,516,340,519.43 at the end of the previous year[25] Shareholder Information - The total number of common shareholders at the end of the reporting period was 41,996[9] - The largest shareholder, Yangshengtang Co., Ltd., holds 705,807,928 shares, accounting for 55.79% of total shares[10] - Shareholders' equity attributable to the parent company was ¥12,089,453,978.52, down 1.41% from the end of the previous year[4] - The company's equity attributable to shareholders was CNY 12,089,453,978.52 as of September 30, 2025, compared to CNY 12,262,802,018.66 at the end of 2024[17] Research and Development - The company has increased its R&D investment to provide comprehensive solutions for medical laboratories, driving steady growth in its diagnostic business[11] - Research and development expenses for the first three quarters of 2025 amounted to CNY 445,519,959.69, a decrease of 38.7% from CNY 726,214,438.31 in 2024[20] - The company has launched a new respiratory pathogen nucleic acid detection kit, enhancing its molecular diagnostic product line[12] Market and Product Development - The company experienced a significant decline in profit due to market adjustments and government procurement affecting the vaccine and IVD sectors[7] - The international business of the HPV vaccine has seen robust growth, with approximately 15.05 million doses exported, a threefold increase compared to 2024 and sixfold compared to 2023[13] - The company has achieved market access for its HPV vaccine in 24 overseas countries, expanding its international footprint[13] - The company is focusing on "differentiated innovation" to strengthen its market share amid increasing industry competition[11] - The Wan 600 automated chemiluminescence immunoassay analyzer has been introduced to top hospitals, increasing penetration in high-end clients[12] - The company has received a gold patent award for its core technology in the HPV vaccine, showcasing its leadership in biotechnological innovation[13] - The company is actively pursuing regulatory approvals for new products to establish a compliant foundation for future large-scale sales[12] Liabilities and Financial Position - Total assets at the end of Q3 2025 were ¥14,370,757,786.98, a decrease of 2.17% from the end of the previous year[4] - Total liabilities as of September 30, 2025, were CNY 2,097,612,719.45, down from CNY 2,241,436,443.70 at the end of 2024[17] - The company's inventory as of September 30, 2025, was CNY 831,259,366.79, slightly down from CNY 863,192,935.30 at the end of 2024[16] Investment Activities - Total cash inflow from investment activities was ¥4,087,759,401.77, compared to ¥3,951,015,258.14 in the previous year, indicating a slight increase[25] - The net cash flow from financing activities was ¥11,183,715.36, a recovery from a negative cash flow of -¥619,648,639.93 in the same period last year[25] Other Information - The company reported a decrease in cash received from sales due to a decline in product sales volume, impacting overall cash flow[8] - The company did not execute any mergers or acquisitions during the reporting period[26] - The company reported a financial income of CNY 11,342,308.57 for the first three quarters of 2025, compared to a financial expense of CNY 41,812,576.41 in the same period of 2024[20] - The company reported a net loss attributable to minority shareholders of -¥469,403.93, compared to a profit of ¥3,837,039.53 in the previous year[21]

Core Viewpoint - The Chinese government has officially included the HPV vaccine in the national immunization program, initiating centralized procurement for the bivalent HPV vaccine, with a total procurement quantity of 15.4465 million doses and a budget of approximately 425 million yuan [1][3]. Group 1: Procurement Details - The centralized procurement for the bivalent HPV vaccine is set for October to December 2025, with a unit price of approximately 27.5 yuan per dose, which is expected to cover 7.72325 million girls aged 9 to 14 years [1][2]. - The procurement is managed by the Chinese Center for Disease Control and Prevention, with a total budget of 424.78 million yuan [2]. Group 2: Market Analysis - The market for the bivalent HPV vaccine consists of two segments: the existing market for girls aged 9 to 14 and the annual new entrants into this age group [5]. - From 2025 to 2030, the female population aged 9 to 14 is projected to be approximately 48.9 million to 43.7 million, with a cumulative incremental market size estimated at around 1.6 billion yuan [5][6]. - The total market size for the national immunization program from 2025 to 2030 is expected to be around 3.8 billion yuan, considering both the existing and incremental markets [8][9]. Group 3: Competitive Landscape - A price war has emerged between Watson Bio and Wantai Bio over the bivalent HPV vaccine, with the winning bid price dropping from an initial range of 329 to 344 yuan per dose to the current price of 27.5 yuan [9][10]. - The competitive dynamics shifted significantly after the National Health Commission announced plans to promote free HPV vaccinations, leading to rapid market expansion [9]. - Wantai Bio has engaged in aggressive pricing strategies, with bids as low as 63 yuan per dose in 2024, indicating a continued trend of price reductions in the market [10].

Core Insights - Beijing Zhongke Gene Technology Co., Ltd. (Zhongke Gene) has disclosed its progress report on the guidance for its initial public offering (IPO) [2] - The guidance agreement with Guotai Junan was signed in March 2021, with the guidance period set from July 2025 to September 2025 [2] Company Overview - Zhongke Gene was established on April 22, 2016, and specializes in third-party veterinary testing services, veterinary diagnostic products, and related biological materials [2] - The company is one of the first independent third-party veterinary testing laboratories in China to obtain CMA certification [2] - The registered capital of Zhongke Gene is 93.2819 million yuan [2] Ownership Structure - The actual controller of Zhongke Gene is Zhang Xuke, who holds a total shareholding ratio of 35.58% and a voting power of 78.48% [2] - Other shareholders include PlaiKe, CITIC Agriculture, Da'an Gene, and Wantai Biological Pharmacy [2] Leadership Profile - Zhang Xuke has a bachelor's degree and is a researcher with special government allowances [4] - He has held various positions, including veterinarian at the Luoyang Railway Veterinary Quarantine Station and executive director at Luoyang PlaiKe Biological Engineering Co., Ltd. [4] - Currently, he serves as the chairman of the fifth board of directors of PlaiKe and holds several leadership roles in veterinary associations [4]

北 京 万 泰 生 物 药 业 股 份 有 限 公 司 2025 年第一次临时股东会会议资料 股票简称：万泰生物 股票代码：603392 2025 年 10 月 1 北京万泰生物药业股份有限公司 2025年第一次临时股东会会议资料 北京万泰生物药业股份有限公司 2025年第一次临时股东会会议资料 北京万泰生物药业股份有限公司 会议资料目录 三、会议议案 议案 1：《关于变更部分回购股份用途并注销的议案》 2 一、股东会须知 二、会议议程 北京万泰生物药业股份有限公司 2025年第一次临时股东会会议资料 2025 年第一次临时股东会须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司股东会规则》以及《北京万泰生物药业股份有限公司章程》《北京万泰生物 药业股份有限公司股东会议事规则》的相关规定，特制定 2025 年第一次临时股 东会会议须知： 一、为确认出席会议的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次会议的严肃性和正常秩序，切 ...