9月4日，百克生物跌1.35%，截至发稿，报22.64元/股，成交9433.05万元，换手率1.00%，总市值93.65 亿元。百克生物股价已经连续8天下跌，区间累计跌幅10.69%。 资料显示，长春百克生物科技股份公司位于吉林省长春市朝阳区卓越大街138号，成立日期2004年3月4 日，上市日期2021年6月25日，公司主营业务涉及从事人用疫苗的研发、生产和销售。主营业务收入构 成为：销售商品100.00%。 从百克生物十大流通股东角度 数据显示，南方基金旗下1只基金位居百克生物十大流通股东。南方中证1000ETF（512100）二季度新 进十大流通股东，持有股数152.25万股，占流通股的比例为0.37%。根据测算，今日浮亏损失约47.2万 元。连续8天下跌期间浮亏损失412.61万元。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间6年303天，现任基金资产总规模949.76亿元，任职期间最佳基金回报 136.9%， 任职期间最差基金回报-16.81%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、 ...

Core Viewpoint - 百克生物's performance has significantly declined in 2024, primarily due to poor sales of its shingles vaccine, leading to a substantial drop in revenue and net profit [1][2]. Group 1: Financial Performance - In the first half of 2025, 百克生物 reported revenue of 285 million yuan, a year-on-year decrease of 53.93%, and a net profit of -73.57 million yuan, down 153.47% [1]. - The shingles vaccine sales in 2024 were only 251 million yuan, a dramatic decline of 71.54%, contributing to a 32.64% drop in overall revenue [2]. - The company produced 898,600 doses of the shingles vaccine in 2024 but sold only 200,400 doses, resulting in a 69.8% decrease in sales volume [2]. Group 2: Product Performance - 百克生物's revenue heavily relies on core products such as the chickenpox vaccine, shingles vaccine, and freeze-dried nasal flu vaccine [1]. - The shingles vaccine, which was launched in early 2023, initially contributed significantly to revenue, generating 883 million yuan in its first year [1]. - However, the sales of the shingles vaccine have faced challenges due to low public awareness and willingness to get vaccinated, leading to increased inventory levels by 79.97% [2][3]. Group 3: Market Challenges - The vaccine industry in China is facing multiple challenges, including a decline in the number of vaccine batches approved for non-immunization planning vaccines, with some products seeing a drop of over 50% [3]. - The market for traditional vaccines is becoming increasingly competitive, with more companies entering the market and price reductions for some vaccines [3]. - 百克生物 is also facing pressure from a declining birth rate, which reduces the market capacity for childhood vaccines [3]. Group 4: Future Prospects - 百克生物 is advancing the development of a restructured shingles vaccine amidst intense competition from over ten other companies [3]. - The company has a pipeline of 13 vaccines and 3 monoclonal antibodies, with R&D investment reaching 98.2 million yuan in the first half of the year, accounting for 34.47% of revenue [5]. - A new liquid formulation of the nasal flu vaccine has been approved, which could potentially boost sales if launched in time for the flu season [6].

Core Viewpoint - Baike Biotech (688276) held a performance briefing on September 1, 2025, to discuss its operating results and financial status for the first half of 2025, highlighting challenges in vaccine sales and strategies for recovery [1][2]. Financial Performance - In the first half of 2025, Baike Biotech achieved revenue of 285 million yuan, with a net loss of 73.57 million yuan and a non-recurring net loss of 82.23 million yuan [2]. - The decline in revenue and profit was attributed to external factors, intensified market competition, and decreased willingness among vaccine recipients to get vaccinated [2]. Research and Development - The company has established five core technology platforms for vaccine development, including virus large-scale culture technology, formulation and adjuvant technology, genetic engineering technology, bacterial vaccine technology, and mRNA vaccine technology [3]. - R&D investment in the first half of 2025 was 98.20 million yuan, accounting for 34.47% of revenue, a significant increase from 13.83% in the same period last year [3]. Pipeline Projects - Baike Biotech is focusing on 13 vaccine projects and 3 human monoclonal antibodies for infectious disease prevention [4]. - Key projects include the liquid nasal influenza vaccine, which has received production approval, and the DTP vaccine (three-component), currently in Phase III clinical trials [4]. - The company is also advancing several other vaccines and monoclonal antibodies through various stages of clinical trials, including rabies monoclonal antibody and HSV-2 vaccine [4].

建议关注公司现金流状况（货币资金/流动负债仅为23.54%） 证券之星价投圈财报分析工具显示： 业务评价：公司去年的ROIC为5.48%，资本回报率一般。去年的净利率为18.88%，算上全部成本后， 公司产品或服务的附加值高。从历史年报数据统计来看，公司上市以来中位数ROIC为15.21%，投资回 报也很好，其中最惨年份2022年的ROIC为4.68%，投资回报一般。公司历史上的财报相对良好（注：公 司上市时间不满10年，上市时间越长财务均分参考意义越大。）。 商业模式：公司业绩主要依靠研发及营销驱动。需要仔细研究这类驱动力背后的实际情况。 财报体检工具显示： 据证券之星公开数据整理，近期百克生物（688276）发布2025年中报。截至本报告期末，公司营业总收 入2.85亿元，同比下降53.93%，归母净利润-7357.34万元，同比下降153.47%。按单季度数据看，第二季 度营业总收入1.23亿元，同比下降64.78%，第二季度归母净利润-7463.77万元，同比下降196.88%。本报 告期百克生物三费占比上升明显，财务费用、销售费用和管理费用总和占总营收同比增幅达65.76%。 本次财报公布的各项数据 ...

Group 1 - The company reported a revenue of 285 million yuan for the first half of 2025, representing a year-on-year decrease of 53.93% [1] - The net profit attributable to shareholders was -73.57 million yuan [1] - The basic earnings per share were -0.18 yuan [1]

Core Insights - The company is closely monitoring market dynamics and is implementing innovative marketing strategies to enhance public awareness of related diseases and stimulate demand for vaccinations [1][2] - The approval of the nasal spray influenza live attenuated vaccine marks a significant addition to the company's product lineup, enhancing its core competitiveness [1] - The company is actively conducting clinical research to expand the target population for its influenza vaccine, aiming to include a broader age range [1] Research and Development - The company has 16 ongoing research projects, with 11 in clinical trial approval or registration stages, and has invested 98.2 million yuan, accounting for 34.47% of its revenue [2] - Several products in the pipeline have made significant progress, including the recombinant shingles vaccine and adjuvanted influenza vaccines, with some already receiving clinical trial approvals [2] - The company is exploring new marketing models in line with product characteristics and public health policies [2] Marketing and Public Engagement - The company is enhancing awareness of the shingles vaccine through academic promotion and public education, aiming to correct misconceptions and increase vaccination rates [3] - Collaborations with local governments are being pursued to integrate vaccines into public health projects, reducing the economic and psychological burdens of shingles on patients [3] - The company is expanding its overseas market presence through international industry exhibitions and is progressing with product registrations in countries like Russia [3]

Core Viewpoint - The company has faced significant challenges in sales and revenue due to external factors, including increased market competition and a decline in vaccination willingness among the public, particularly affecting the sales of its shingles vaccine [3]. Group 1: Company Overview - The company is engaged in the production and sale of vaccines, primarily focusing on varicella (chickenpox), shingles, and nasal spray influenza vaccines [3]. - The company has implemented innovative marketing strategies to enhance public awareness of disease prevention and stimulate demand for vaccinations [3]. Group 2: Financial Performance - In the first half of 2023, the company experienced a notable decline in sales revenue and net profit due to reduced sales and usage of the shingles vaccine, which was launched recently [3]. - The company anticipates a significant increase in revenue and net profit in 2023 and the first half of 2024, driven by the rapid market penetration of the shingles vaccine [3]. Group 3: Governance Changes - The company has proposed to abolish the supervisory board, transferring some of its powers to the audit committee of the board of directors, in accordance with relevant laws and regulations [16][18]. - The supervisory board will continue to fulfill its duties until the shareholders' meeting approves the cancellation of the supervisory board [17].

长春百克生物科技股份公司 股权激励管理办法 第一章 总则 第一条 为建立健全激励与约束机制，依据《中华人民共和国公司法》（以 下简称" 《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上 市公司股权激励管理办法》及其他法律、行政法规以及《长春百克生物科技股 份公司章程》（以下简称"《公司章程》"）的规定，制定本办法。 第二条 本办法所称股权激励是指公司以本公司股票为标的，对董事、高级 管理人员及公司认为应当激励的对公司经营业绩和未来发展有直接影响的其他 员工进行的长期性激励。 第三条 公司实行股权激励，应当符合法律、行政法规、《公司章程》和本 办法的规定，有利于公司的持续发展，不得损害公司利益。 公司的董事和高级管理人员在实行股权激励中应当诚实守信，勤勉尽责， 维护公司和全体股东的利益。 第四条 公司拟实施股权激励计划应按照相关规定聘请中介机构共同制定 激励方案。 第二章 一般规定 第五条 公司具有下列情形之一的，不得实行股权激励： （一）最近一个会计年度财务会计报告被注册会计师出具否定意见或者无 法表示意见的审计报告； （二）最近一个会计年度财务报告内部控制被注册会计师出具否定意见或 ...

（文章来源：北京商报） 北京商报讯（记者丁宁）8月29日晚间，百克生物（688276）发布2025年半年报显示，公司上半年实现 营业收入2.85亿元，同比下降53.93%；归属净利润-7357.34万元，上年同期1.38亿元，同比由盈转亏。 百克生物表示，报告期内营收下滑主要系报告期带状疱疹疫苗销量减少所致；净利下滑主要系报告期营 业收入下降，销售费用、研发费用占比提高所致。 ...

证券日报网讯 8月29日晚间，百克生物发布公告称，公司第六届监事会第四次会议审议通过了《全文及 摘要》等多项议案。 （文章来源：证券日报） ...