重庆智飞生物制品股份有限公司 募集资金管理制度 重庆智飞生物制品股份有限公司 募集资金管理制度 第一章 总则 第一条 为规范重庆智飞生物制品股份有限公司（以下简称"公司"）对募 集资金的使用和管理，提高募集资金的使用效益，维护公司、股东及债权人的合 法权益，现根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 募集资金监管规则》等法律、行政法规、部门规章、规范性文件、深圳证券交易 所的相关规定（以下简称"法律法规"）和《重庆智飞生物制品股份有限公司章 程》（以下简称"《公司章程》"），结合公司实际情况，制定本制度。 第二条 本制度所称"募集资金"，是指公司通过发行股票或者其他具有股 权性质的证券，向投资者募集并用于特定用途的资金，但不包括公司实施股权激 励计划募集的资金。 第三条 公司董事会应当持续关注募集资金存放、管理和使用情况，有效防 范投资风险，提高募集资金使用效益。 公司的董事、高级管理人员应当勤勉尽责，确保公司募集资金安全，不得操 控公司擅自或变相改变募集资金用途。 第四条 公司会计部门应当对募集资金的使用情况设立台账，详细记录募集 资金的支出情况和募集资金项目的投入情况。 公司内部审计 ...

重庆智飞生物制品股份有限公司 内部审计制度 重庆智飞生物制品股份有限公司 内部审计制度 第一章 总 则 第一条 为进一步规范重庆智飞生物制品股份有限公司（以下简称"公司"） 内部审计工作，提高内部审计工作质量，保护投资者合法权益，促进公司持续健 康发展，依据《中华人民共和国审计法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 等法律、行政法规、部门规章、规范性文件、深圳证券交易所的相关规定（以下 简称"法律法规"）和《重庆智飞生物制品股份有限公司章程》（以下简称"《公 司章程》"），结合本公司的实际情况，制定本制度。 第二条 本制度所称内部审计，是指公司内部设立的内部审计部门或人员依 据国家有关法律法规、财务会计制度和公司内部管理规定，对公司各内部机构、 控股子公司及具有重大影响的参股公司的内部控制制度的建立和实施、对其内部 控制和风险管理的有效性、财务信息的真实性和完整性以及经营活动的效率和效 果等开展的监督和评价工作。 第三条 本制度所称内部控制，是指公司董事会、高级管理人员及其他有关 人员为实现下列目标而提供合理保证的过程： （一）遵守 ...

智飞生物公告，第三季度营收为27.05亿元，同比下降40.26%；净利润亏损6.01亿元，下降556.79%。前 三季度营收为76.27亿元，同比下降66.53%；净利润亏损12.06亿元，下降156.86%。 ...

Financial Performance - The company's revenue for Q3 2025 was ¥2,704,787,498.73, a decrease of 40.26% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥601,112,699.06, representing a decline of 556.79% year-on-year[3]. - The company reported a basic earnings per share of -¥0.2511, a decrease of 556.79% year-on-year[3]. - The company’s operating income for the year-to-date was ¥7,627,406,876.36, down 66.53% from the previous year[9]. - Total revenue for the current period is ¥7,627,406,876.36, a decrease of 66.6% compared to ¥22,786,387,624.05 in the previous period[18]. - The net profit for the current period is a loss of ¥1,219,476,713.57, compared to a profit of ¥2,093,999,456.09 in the previous period[19]. - The company reported a basic and diluted earnings per share of -0.5040, down from 0.8864 in the previous period[19]. Cash Flow - The net cash flow from operating activities reached ¥2,985,018,894.57, an increase of 201.18% compared to the previous year[3]. - The net cash flow from financing activities was -¥2,754,297,064.98, a decrease of 471.81% compared to the previous year, mainly due to increased loan repayments[10]. - The net cash flow from operating activities was CNY 2,985,018,894.57, a significant improvement compared to the previous period's negative cash flow of CNY -2,950,190,022.15[21]. - Total cash inflow from operating activities decreased to CNY 11,125,790,912.40 from CNY 28,722,137,303.55, representing a decline of approximately 61.2%[21]. - Cash outflow from operating activities also decreased to CNY 8,140,772,017.83 from CNY 31,672,327,325.70, a reduction of about 74.3%[21]. - The net cash flow from investing activities was CNY -439,564,883.74, an improvement from CNY -869,989,167.77 in the previous period[21]. - Cash inflow from financing activities increased to CNY 13,003,450,918.54 from CNY 10,349,312,326.46, marking an increase of approximately 25.4%[21]. - Cash outflow from financing activities rose to CNY 15,757,747,983.52 from CNY 9,608,538,204.40, an increase of about 64.0%[21]. - The cash and cash equivalents at the end of the period decreased to CNY 2,494,818,737.62 from CNY 3,262,918,108.95, a decline of approximately 23.5%[22]. - The company’s cash and cash equivalents net increase was CNY -209,250,629.34, a significant improvement from CNY -3,080,206,481.13 in the previous period[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥46,392,433,396.07, down 9.50% from the end of the previous year[3]. - Total current assets at the end of the reporting period amount to 36,113,056,421.78 RMB, down from 41,368,956,194.55 RMB at the beginning of the period, representing a decrease of approximately 12.5%[15]. - The company's total assets decreased to ¥46,392,433,396.07 from ¥51,261,907,524.36, a decline of 9.5%[17]. - Current liabilities decreased significantly to ¥12,884,692,048.47 from ¥18,850,993,178.50, a reduction of 31.6%[17]. - The company's total liabilities decreased to ¥16,785,730,973.03 from ¥20,435,728,387.75, a decline of 17.9%[17]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 131,557[12]. - Major shareholder Jiang Rensheng holds 48.44% of shares, totaling 1,159,573,500 shares, with 184,700,000 shares pledged[12]. - The company has a total of 289,893,375 unrestricted shares held by major shareholder Jiang Rensheng[13]. - The number of shareholders with voting rights restored for preferred shares is 0[12]. Other Notable Changes - The company experienced a significant increase in other receivables, which rose by 4238.76% to ¥475,804,737.80 due to payments made to suppliers[7]. - The company’s long-term borrowings increased by 149.11% to ¥3,094,161,871.06, primarily due to new bank loans[8]. - The company reported a significant increase in government subsidies recognized in profit or loss, which rose by 43.01% to ¥27,833,751.77[9]. - The company has made significant investments in intangible assets, with a current balance of ¥639,787,556.50, up from ¥346,246,140.47, indicating a focus on technology and data resources[17]. - The company has not reported any changes in the participation of major shareholders in margin trading or securities lending[14]. - The company has not disclosed any new product developments or market expansion strategies in the current report[14]. - There are no significant changes in the status of restricted shares or any new mergers and acquisitions reported[14].

Core Insights - A total of 490 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of October 29 [1] - The stock with the longest continuous net outflow is Zhongju Gaoxin, with 31 days of outflows, followed by Hengshen New Materials with 21 days [1] - The largest total net outflow amount is from China Merchants Bank, with a cumulative outflow of 3.093 billion yuan over 12 days [1] Group 1: Stocks with Longest Net Outflows - Zhongju Gaoxin has seen net outflows for 31 days, with a total outflow of 559 million yuan and a cumulative decline of 6.91% [1] - Hengshen New Materials has recorded net outflows for 21 days, totaling 197 million yuan, with a decline of 9.80% [3] - China Merchants Bank has the highest net outflow amount of 3.093 billion yuan over 12 days, with a net outflow ratio of 6.98% and a cumulative increase of 1.65% [1] Group 2: Other Notable Stocks - Guotai Junan has experienced net outflows for 10 days, amounting to 1.877 billion yuan, with a net outflow ratio of 7.89% and a cumulative increase of 2.70% [1] - Shengbang Co. has seen net outflows for 12 days, totaling 1.826 billion yuan, with a net outflow ratio of 9.52% and a cumulative decline of 10.65% [1] - Huajian Group has recorded net outflows for 6 days, with a total outflow of 1.713 billion yuan and a significant decline of 40.29% [1] Group 3: Stocks with Significant Outflow Ratios - Jianan Intelligent has the highest net outflow ratio at 14.74%, with a decline of 2.98% over the past 5 days [1] - Other notable stocks with high outflow ratios include Huayi Development at 11.91% and Pianzaihuang at 11.84% [1] - The overall trend indicates a significant outflow of funds from various sectors, reflecting investor sentiment and market conditions [1]

Core Viewpoint - The domestic vaccine industry is experiencing significant pressure due to economic downturns, declining birth rates, reduced vaccination willingness, and intensified market competition, leading to frequent executive changes among companies [1][3]. Group 1: Executive Changes - Sun Wanfeng has resigned from his position as employee representative director and vice president of Baike Bio, but will continue as assistant to the chairman [1]. - There are rumors of changes in the management of Kangtai Bio, but the company has confirmed that Vice President Yu Bing remains in his position [1]. - Frequent executive turnover is noted in the domestic vaccine industry, with several companies undergoing leadership changes since late 2024 [3]. Group 2: Financial Performance - In the first half of 2025, only 5 out of 10 listed vaccine companies in A-shares reported revenue growth, with only 3 achieving positive net profit growth [3]. - Baike Bio reported a revenue of 284.9 million yuan with a net loss of 73.57 million yuan, marking a year-on-year revenue decline of 53.93% and a net profit decline of 153.47% [4]. - Kangtai Bio's revenue was 1.392 billion yuan with a net profit of 37.53 million yuan, showing a revenue growth of 15.81% but a significant net profit decline of 77.30% [4]. Group 3: Market Competition - The HPV vaccine market is experiencing aggressive price competition, with prices for the bivalent HPV vaccine dropping below 100 yuan, and the lowest price recorded at 27.5 yuan per dose [5]. - The flu vaccine market is also seeing price reductions, with prices for quadrivalent flu vaccines dropping from 128 yuan to 88 yuan per dose [6]. - The pneumococcal vaccine market is highly competitive, with Pfizer withdrawing from the market due to intense competition from domestic products [6]. Group 4: Growth Opportunities - Despite the challenges, there are structural growth opportunities in the vaccine market, exemplified by Olin Bio's adsorbed tetanus vaccine, which achieved a revenue growth of 35.17% in the first half of 2025 [7].

Core Insights - On October 23, Zhifei Biological experienced a 0.25% decline in stock price with a trading volume of 305 million yuan [1] - The company reported a net financing outflow of 450.14 million yuan on the same day, with a total financing and securities balance of 1.507 billion yuan [1][2] - For the first half of 2025, Zhifei Biological's revenue was 4.919 billion yuan, a year-on-year decrease of 73.06%, and the net profit attributable to shareholders was -597 million yuan, a decrease of 126.72% [2] Financing and Securities - On October 23, Zhifei Biological had a financing buy-in of 39.17 million yuan and a financing repayment of 43.67 million yuan, resulting in a net financing buy-in of -4.50 million yuan [1] - The current financing balance is 1.503 billion yuan, accounting for 3.11% of the circulating market value, which is below the 40th percentile level over the past year, indicating a low position [1] - The company had a securities lending balance of 354.49 million yuan, which is above the 70th percentile level over the past year, indicating a high position [1] Shareholder and Institutional Holdings - As of September 19, the number of shareholders for Zhifei Biological was 135,900, a decrease of 2.59% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 36.35 million shares, a decrease of 10.59 million shares from the previous period [2] - The company has distributed a total of 7.318 billion yuan in dividends since its A-share listing, with 3.194 billion yuan distributed in the last three years [2]

Core Points - The restructuring protein concept declined by 1.15%, ranking among the top declines in concept sectors as of the market close on October 23 [1] - Within the restructuring protein sector, major declines were observed in companies such as Haitai Biological, Maiwei Biological, and Yipinhong, while 14 stocks experienced price increases, with *ST Suwu, *ST Wanfang, and Kefu Medical leading the gains at 5.21%, 4.99%, and 2.90% respectively [1] Market Performance - The top-performing concept sectors today included Shenzhen State-Owned Enterprise Reform with a rise of 6.62%, while the restructuring protein sector faced a decline of 1.15% [2] - The restructuring protein sector saw a net outflow of 476 million yuan, with 37 stocks experiencing net outflows, and 6 stocks seeing outflows exceeding 30 million yuan [2] - Maiwei Biological led the net outflow with 69.48 million yuan, followed by Hualan Biological, BeiDa Pharmaceutical, and Zhifei Biological with outflows of 66.43 million yuan, 54.42 million yuan, and 33.70 million yuan respectively [2] Stock Performance - The top stocks with significant net outflows in the restructuring protein sector included: - Maiwei Biological: -5.53% with a turnover rate of 7.46% and a net outflow of 69.48 million yuan - Hualan Biological: -1.41% with a turnover rate of 1.37% and a net outflow of 66.43 million yuan - BeiDa Pharmaceutical: -3.26% with a turnover rate of 1.78% and a net outflow of 54.42 million yuan [3] - Conversely, the stocks with notable net inflows included: - SanSheng Guojian: +0.67% with a net inflow of 40.98 million yuan - Baipu Sais: +0.17% with a net inflow of 12.23 million yuan - Huiyu Pharmaceutical: +2.96% with a net inflow of 5.71 million yuan [4]

Core Viewpoint - The company, Zhifei Biological Products Co., Ltd., and its wholly-owned subsidiaries have recently obtained an invention patent certificate from the National Intellectual Property Administration of the People's Republic of China for a vaccine and its preparation method [1] Group 1 - The patent is titled "A Vaccine and Its Preparation Method" [1]

Core Viewpoint - Zhifei Biological announced the acquisition of an invention patent for a vaccine and its preparation method, indicating a significant advancement in its product development and potential market competitiveness [1] Company Summary - Zhifei Biological and its wholly-owned subsidiaries, Anhui Zhifei Longkema Biological Pharmaceutical Co., Ltd. and Beijing Zhifei Lvzhu Biological Pharmaceutical Co., Ltd., have recently obtained a patent certificate from the National Intellectual Property Administration of the People's Republic of China [1] - The patent is titled "A Vaccine and Its Preparation Method" with the patent number ZL202410156676.3, showcasing the company's innovation in vaccine technology [1]