Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company reported a significant increase in revenue, achieving 303 million yuan in the first half of 2024, a year-on-year growth of 1071.20%. Excluding the impact of estimated returns of COVID-19 vaccines from the previous year, the revenue growth is 15.36% [6] - The net profit attributable to the parent company narrowed by 73.22% to -225 million yuan in the same period, indicating improved operational efficiency and cost control [6] - The sales revenue from the company's two types of meningococcal vaccines reached approximately 260 million yuan, a growth of about 18% year-on-year, with ongoing clinical trials for expanding age indications [6] - The company is progressing well in its pipeline development, with several products at various clinical trial stages, including PCV13i and DTcP vaccines [6] Summary by Sections Financial Performance - In the first half of 2024, the company achieved a revenue of 303 million yuan, with a year-on-year increase of 1071.20%. The net profit loss narrowed to -225 million yuan, a reduction of 73.22% [6] - For Q2 2024, the revenue was 189 million yuan, reflecting a year-on-year growth of 353.40%, with a net profit loss of -55 million yuan, a 92.12% reduction in loss compared to the previous year [6] Cost Management - The company has improved its cost management, with sales expenses decreasing by 12.70% year-on-year to 112 million yuan, and the sales expense ratio at 37.07% [6] - Management expenses were reduced by 38.45% year-on-year to 84 million yuan, with a management expense ratio of 27.52% [6] - R&D expenses decreased by 45.06% year-on-year to 186 million yuan, with an R&D expense ratio of 61.27% [6] Product Sales and Market Expansion - The sales revenue from meningococcal vaccines grew by 18% year-on-year, with ongoing market introduction efforts [6] - The company is conducting clinical trials for expanding the age indication for MCV4 vaccines, which could significantly increase market potential if approved [6] Pipeline Development - As of the first half of 2024, the company has several products in various stages of clinical trials, including PCV13i, DTcP, and Tdcp vaccines [6] - The company has received acceptance for the market application of PCV13i and is progressing with other vaccine candidates [6] Earnings Forecast and Valuation - The company is expected to generate revenues of 840 million yuan, 1.16 billion yuan, and 1.98 billion yuan for 2024, 2025, and 2026, respectively, with corresponding year-on-year growth rates of 135%, 38%, and 70% [7] - The estimated reasonable value range for the company's stock is between 59.85 and 68.68 yuan per share, corresponding to a market capitalization of 14.81 billion to 16.99 billion yuan [7]

证券代码：688185 证券简称：康希诺 公告编号：2024-044 康希诺生物股份公司 关于参加 2024 年半年度制药及生物制品专场 集体业绩说明会的公告 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个别及连带责任。 重要内容提示： 说明会召开时间：2024年9月18日（星期三）14:00-16:00 （二）会议召开地点：上证路演中心 说 明 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com） 说明会议召开方式：网络文字互动 投资者可于2024年9月17日（星期二）16:00前将需要了解和关注的问题发 送至康希诺生物股份公司（以下简称"公司"）邮箱ir@cansinotech.com，公司将在 说明会上对投资者普遍关注的问题进行回答。 公司于 2024 年 8 月 30 日发布 2024 年半年度报告，为便于广大投资者更全 面深入地了解公司 2024 年半年度经营成果、财务状况，公司参与了由上海证券 交易所主办的 2024 年半年 ...

编号：2024-008 证券代码：688185 证券简称：康希诺 康希诺生物股份公司 投资者关系活动记录表 | --- | --- | --- | --- | |------------|----------------------------|----------------|------------------------------------------------------------| | | | | | | | □ 特定对象调研 □分析师会议 | | | | 投资者关系 | □ 媒体采访 □业绩说明会 | | | | 活动类别 | □ 新闻发布会 | □路演活动 | | | | □ 现场参观 | | √其他（业绩交流会、 | | | Amundi 、 | Ariose Capital | 、 | | 参与单位名 | Franklin 、 | | Fidelity、Manulife、Millennium、New Silk Road、Point | | 称及人员姓 | 72 | | 、淡水泉、东方资管、国源信达、海富通基金、鲸域资产、人保资 | | 名 | | | 管、上海混沌投资、上海泾溪投资、 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年8月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06185 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 132,670,900 | RMB | | 1 RMB | | 132,670,900 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 132,670,900 | RMB | | 1 RMB | | 132,670,900 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- ...

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2024, representing a 15% increase compared to the same period last year[1]. - The company's revenue for the first half of 2024 reached ¥303,431,446.47, a significant increase of 1,071.20% compared to ¥25,907,807.50 in the same period last year[15]. - The company achieved a revenue of approximately 262.72 million CNY from the sales of its meningococcal vaccine, an 18.00% increase from 222.65 million CNY in the previous year[18]. - The total revenue for the reporting period increased by 15.36% compared to the previous year, excluding the impact of COVID-19 vaccine returns[18]. - The company reported a total operating revenue for the first half of 2024 reached ¥303,431,446.47, a significant increase from ¥25,907,807.50 in the same period of 2023, reflecting a growth of approximately 1,067%[149]. - The company achieved a gross profit margin of approximately 74.7% in the first half of 2024, compared to 27.5% in the same period of 2023, indicating improved profitability[152]. - The net profit attributable to shareholders was -¥225,373,885.84, improving from -¥841,429,076.81 year-on-year[15]. - The net loss attributable to shareholders of the parent company was 225.37 million CNY, a significant reduction of 616.06 million CNY compared to the previous year[18]. - The company reported a significant increase in revenue for the first half of 2024, achieving a total of $500 million, representing a 25% growth year-over-year[104]. - The company expects a revenue growth of 10% for the second half of 2024, driven by new product launches and market expansion strategies[1]. Research and Development - Research and development expenses increased by 25% to RMB 300 million, focusing on new vaccine technologies[1]. - The company reported a total R&D investment of approximately ¥248.34 million, a decrease of 26.85% compared to the previous year, with R&D expenses accounting for 81.85% of operating income[51]. - Research and development expenses decreased to approximately ¥139.53 million from ¥275.04 million year-over-year, a reduction of about 49%[152]. - The company is committed to increasing R&D investment to accelerate product pipeline development and build a talent team[26]. - The company has developed innovative vaccines, including the inhaled COVID-19 vaccine, which has received emergency use authorization[22]. - The company has established five major technology platforms for vaccine development, enhancing its competitive product portfolio[44]. - The company has developed advanced vaccine technologies, including viral vector vaccines, synthetic vaccines, and mRNA vaccines, enhancing its R&D capabilities[43][47]. - The company is focusing on self-research and external collaborations to enhance its vaccine pipeline and competitiveness[26]. - The company is actively promoting its meningococcal vaccine products and expanding its CDMO business[18]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by the end of 2025[1]. - A strategic partnership was announced with a leading pharmaceutical company to enhance distribution channels, expected to improve logistics efficiency by 15%[1]. - The company is exploring acquisition opportunities in the biotech sector to diversify its product portfolio[1]. - The company is expanding its international presence with a focus on Southeast Asia, the Middle East, North Africa, and South America for its quadrivalent meningococcal vaccine[67]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $200 million allocated for potential deals[106]. - The company is preparing for WHO PQ certification to explore the feasibility of international organization procurement for its innovative products[67]. - The company has established a comprehensive commercial operation center to expand its marketing network and improve product reputation[30]. Financial Position and Assets - The total assets decreased by 12.71% to ¥8,134,571,015.15 from ¥9,318,769,372.66 at the end of the previous year[15]. - The total assets at the end of the reporting period were ¥8,163,973,413.87, with overseas assets accounting for 5.33% of total assets[78]. - The company's total liabilities decreased by 31.33% to ¥462,528,796.20, mainly due to the exclusion of Shangyao Kangxino from the group's consolidated scope[77]. - The company's total comprehensive income for the period was ¥319,434.35, reflecting a significant change due to foreign currency translation differences[78]. - The company's total equity attributable to shareholders decreased from ¥5,274,604,094.18 to ¥5,059,547,135.34, a decline of about 4.1%[145]. - The company's cash and cash equivalents were reported at CNY 1.99 billion, down from CNY 2.82 billion, reflecting a decline of 29.3%[143]. - The company's long-term equity investments decreased to CNY 17.36 million, down by 4.4% from CNY 18.17 million[143]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition, which could impact future performance[1]. - The company faces risks related to competition, financial performance, and regulatory changes in the vaccine industry[71]. - The company is facing a lawsuit from Belcher Farmaceutica Ltda. claiming approximately 167 million Brazilian Reais (about 220 million RMB) for losses related to the cancellation of a vaccine registration agreement in Brazil[121]. - The company has engaged a professional legal team to respond to the lawsuit, believing the chances of Belcher's claims being supported by the Brazilian court are low[121]. Corporate Governance and Shareholder Matters - The company held its first extraordinary general meeting on February 21, 2024, where several proposals were approved, including amendments to the company's articles of association and the remuneration plans for the board of directors[87]. - The annual general meeting on June 27, 2024, approved the 2023 annual report and financial audit report, along with a proposal for profit distribution[88]. - The company did not distribute profits or increase capital reserves in the first half of 2024, indicating a focus on reinvestment or other strategic initiatives[92]. - The company has maintained a stable management structure with recent changes in board members, which may impact strategic direction moving forward[90]. - The company has not disclosed any updates on stock incentive plans or employee stock ownership plans, suggesting a potential focus on other forms of employee engagement[91]. - The company has proposed to increase or renew bank credit limits for 2024, indicating a strategy to enhance liquidity and financial flexibility[88]. Environmental Responsibility - The company invested 939,700 CNY in environmental protection during the reporting period[95]. - The company reduced carbon emissions by 8,194.9 tons through various carbon reduction measures[99]. - The company has established an environmental management system and has not faced any administrative penalties related to environmental issues during the reporting period[96]. - The company has implemented energy-saving measures, including optimizing cold storage operations and increasing the use of clean energy[98]. - The company’s long-term commitment to environmental responsibility has achieved compliance in wastewater and waste gas emissions[96]. Legal and Compliance - The company has not experienced any major litigation or arbitration matters during the reporting period[120]. - The company has confirmed that there are no issues regarding the integrity of the company or its controlling shareholders during the reporting period[119]. - The company has not issued any non-standard audit opinions for the previous annual report[119]. - The company has fully provided for impairment on loans to a related party, reflecting uncertainty in the recovery of these loans[123].

证券代码：688185 证券简称：康希诺 公告编号：2024-040 康希诺生物股份公司 第三届监事会第四次会议决议公告 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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 康希诺生物股份公司（以下简称"公司"）第三届监事会第四次会议于 2024 年 8 月 29 日在公司会议室以现场及通讯的方式召开，会议通知已于会议召开 10 日前以电子邮件形式送达全体监事。本次会议由监事会主席肖治召集，应到监事 3 人，实到监事 3 人。会议的召集、召开和表决程序符合《中华人民共和国公司 法》等法律法规及规范性文件和《康希诺生物股份公司章程》的规定，合法有效。 二、监事会会议审议情况 经与会监事审议，逐项表决，形成决议如下： 表决结果：同意 3 票，反对 0 票，弃权 0 票。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《2024 年半年度募集资金存放与实际使用情况专项报告》（公告编号：2024-041）。 （三）《关于使用暂时闲置募集资金进行现金管理的议案》 表决结果：同意 ...

证券代码：688185 证券简称：康希诺 公告编号：2024-039 康希诺生物股份公司 关于参加 2024 年度天津辖区上市公司半年报业绩说明会 暨投资者网上集体接待日活动的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2024 年 9 月 3 日（周二）15:00-16:30 会议召开方式：本次活动将采用网络远程的方式举行，投资者可以登录"全景 路演"（http://rs.p5w.net）参与本次互动交流。 一、会议类型 为进一步加强与投资者的互动交流，康希诺生物股份公司（以下简称"公司"） 将参加由天津证监局、天津上市公司协会与深圳市全景网络有限公司共同举办的 "2024 年度天津辖区上市公司半年报业绩说明会暨投资者网上集体接待日"活动。公 司将围绕 2024 年半年度经营情况等投资者所关心的问题，通过互动平台与投资者进 行沟通交流。 二、会议召开的时间、方式 1、召开时间：2024 年 9 月 3 日（周二）15:00-16:30。 2、召开方式：本次活动将采用网络远程的方式举 ...

董事會會議通告 康 希 諾 生 物 股 份 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈，董 事 會 會 議將於2024年8月29日（星 期 四）舉 行，藉 以（其 中 包 括）考 慮 及 批 准 本 公 司 及 其 附 屬公司截至2024年6月30日止六個月的中期業績及其發佈，以及建議派發中期股 息（如 有）。 承董事會命 康希諾生物股份公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本通告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CanSino Biologics Inc. 康希諾生物股份公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6185） 香港，2024年8月16日 於本通告日期，董事會包括執行董事Xuefeng YU博士、Shou Bai CHAO博士及王靖 女士；非執行董事李志成先生；以及獨立非執行董事桂水發先生、劉建忠先生及 張耀樑先生。 Xuefeng YU 董事長 ...

证券代码：688185 证券简称：康希诺 康希诺生物股份公司 投资者关系活动记录表 编号：2024-007 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系 □新闻发布会 □路演活动 活动类别 □现场参观 √其他（近况交流会、策略会、IR 电话 等） 参与单位名 博时基金、东方证券资管、国海富兰克林基金、汇添富基金、混沌 称及人员姓 投资、嘉实基金、金鹰基金、凯石基金、盘京投资、鹏华基金、申万 名 菱信基金、永赢基金等约 50 名投资者 时间 2024 年 7 月 地点 上海、天津 上市公司接 董事会秘书：崔进先生 证券事务代表：孙畅女士 待人员姓名 1 投资者关系以往投资者关系记录表涉及的问题，如无重要更新，本次 活动主要内 记录表中不再做重复回答。 1、公司四价流脑结合疫苗上半年商业化情况？市场教育工 容介绍 作开展情况？ 公司上半年四价流脑结合疫苗的商业化进程按计划推进， 逐步提升市场渗透率。不同于辉瑞以肺炎结合疫苗进入中国市 场进行了多年市场教育工作，为后续国产同类疫苗上市后的商 业化打下基础的情况，公司的四价流脑结合疫苗，类似于辉瑞 刚刚进入中国市场推广七价肺炎结合疫苗的情形，需要 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 康希諾生物股份公司 呈交日期: 2024年8月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06185 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 132,670,900 | RMB | | 1 RMB | | 132,670,900 | | 增加 / 減少 (-) | | | | 0 | | RMB | | | | 本月底結存 | | | 132,670,900 | RMB | | 1 RMB | | 132,670,900 | | 2. 股份分類 | 普通股 | 股份類別 | A ...