证券代码：301207 证券简称：华兰疫苗 公告编号：2025-045 《2025 年第三季度报告》具体内容详见公司同日披露于《证券时报》、《中国 证券报》、《上海证券报》及巨潮资讯网（www.cninfo.com.cn）的 2025-046 号公告。 华兰生物疫苗股份有限公司 第二届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 华兰生物疫苗股份有限公司（以下简称"公司"）第二届董事会第十七次会议于 2025年10月17日以电话或电子邮件方式发出通知，于2025年10月29日以通讯表决方 式召开，会议应出席董事9名，实际出席董事9名。会议的召集和召开符合《公司法》 和《公司章程》的有关规定。 二、董事会会议审议情况 1、会议以 9 票同意，0 票反对，0 票弃权的表决结果通过了《2025 年第三季度 报告》。 公司严格按照《证券法》及《深圳证券交易所创业板股票上市规则》等有关规 定，完成了 2025 年第三季度报告的编制工作。公司董事、高级管理人员对该报告签 署了书面确认意见。 该议案已经公司第二届董事会 ...

Financial Performance - Revenue for Q3 2025 was CNY 746,025,122.57, a decrease of 19.07% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 111,511,443.25, down 53.94% year-on-year[5] - Basic earnings per share decreased by 53.64% to CNY 0.1874[5] - Total operating revenue decreased to ¥805,986,896.84 from ¥957,363,018.62, representing a decline of approximately 15.8% year-over-year[18] - Net profit for the period was ¥132,308,600.05, down from ¥267,359,727.86, indicating a decrease of about 50.6% compared to the previous year[19] - Operating profit fell to ¥139,351,616.48 from ¥305,871,419.40, a decrease of approximately 54.5% year-over-year[19] - The basic earnings per share decreased to ¥0.2224 from ¥0.4463, reflecting a decline of about 50%[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,179,369,720.73, a decrease of 4.57% from the end of the previous year[5] - Total assets decreased to ¥7,179,369,720.73 from ¥7,523,255,843.58, a reduction of about 4.6%[18] - Total liabilities slightly decreased to ¥1,504,528,077.23 from ¥1,510,111,321.68, showing a decline of approximately 0.4%[18] - The company's equity attributable to shareholders decreased to ¥5,674,841,643.50 from ¥6,013,144,521.90, a drop of about 5.6%[18] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 181,964,118.25, down 48.11% year-on-year[5] - Operating cash flow for the current period is ¥181,964,118.25, a decrease of 48.0% compared to ¥350,644,555.60 in the previous period[20] - The company reported cash received from operating activities totaling ¥865,490,687.86, down 34.1% from ¥1,314,347,439.35[20] - The company’s cash flow from operating activities was impacted by a significant reduction in cash received from sales, which totaled ¥840,417,243.67, down 35.2% from ¥1,295,544,904.55[20] - Cash and cash equivalents at the end of the period increased to ¥854,136,140.42, up from ¥531,251,202.49 in the previous period[21] - The company experienced a 100% reduction in short-term borrowings, repaying CNY 300,183,333.33 during the period[8] Expenses - R&D expenses increased by 38.84% to CNY 111,781,220.66 due to higher clinical trial costs[8] - Management expenses decreased by 36.43% to CNY 52,945,493.02, primarily due to reduced inventory write-offs[8] - Research and development expenses increased to ¥111,781,220.66, up from ¥80,510,272.88, reflecting a growth of approximately 38.7% year-over-year[18] - Cash paid for purchasing goods and services was ¥125,460,323.97, a decrease of 41.6% compared to ¥214,925,416.84[20] Shareholder Information - Total number of common shareholders at the end of the reporting period was 17,147[10] - The largest shareholder, Hualan Biological Engineering, holds 67.38% of shares, totaling 405,000,000 shares[10] - The company has a repurchase account holding 6,027,467 shares, representing 1.00% of total shares, ranking it as the 5th largest shareholder[11] - The top two shareholders are identified as acting in concert, indicating a potential influence on company decisions[11] - The company has no preferred shareholders or changes in restricted shares during the reporting period[12] Other Financial Metrics - The weighted average return on equity was 1.85%, down 2.06% from the previous year[5] - Deferred income tax assets decreased to ¥204,762,701.06 from ¥212,727,411.11, a reduction of approximately 3.5%[18] - Other non-current assets decreased to ¥1,174,869,156.97 from ¥1,214,773,182.18, indicating a decline of about 3.3%[18] Investment Activities - Investment cash inflow decreased significantly to ¥6,262,680,030.87 from ¥14,744,165,919.04, representing a decline of 57.6%[20] - Net cash flow from investment activities improved to ¥489,074,624.74, compared to a negative cash flow of ¥33,805,690.23 in the previous period[21] - The company did not receive any cash from new investments during the current period, contrasting with ¥16,281,000.00 received in the previous period[21] Audit Status - The company’s financial report for the third quarter was not audited[22]

Core Points - Hualan Vaccine's stock closed at 19.55 yuan, down 2.98%, currently in a broken state [1] - The company was listed on the Shenzhen Stock Exchange's ChiNext on February 18, 2022, with an initial public offering (IPO) price of 56.88 yuan per share [1][2] - The total amount raised from the IPO was 2.276 billion yuan, with a net amount of 2.244 billion yuan after deducting issuance costs [2] Fundraising and Projects - The company initially planned to raise 2.495 billion yuan, with funds allocated for various vaccine development projects, including influenza, rabies, and pneumonia vaccines [2] - The total issuance costs amounted to 31.5657 million yuan, with the underwriter, Huatai United Securities, receiving 22 million yuan in underwriting and sponsorship fees [2] Dividend Distribution - On May 30, 2023, Hualan Vaccine announced a dividend distribution plan for 2022, proposing a cash dividend of 3.00 yuan for every 10 shares and a capital reserve increase of 5 shares for every 10 shares [2]

Core Viewpoint - The upcoming flu season in 2025 is expected to be significant, with a different strain circulating compared to last year, leading to lower immunity among the public. Vaccination remains the most effective preventive measure, and there is a noticeable increase in vaccine demand across various regions [1][4][5]. Vaccine Supply and Demand - There is a surge in flu vaccine demand, particularly among parents for their children, leading to situations where appointments are available but vaccines are not [6][8]. - The government procurement price for trivalent vaccines has dropped to a historical low of 5.5 yuan per dose, while the price of quadrivalent vaccines has remained stable [2][12]. - Sanofi, a major overseas player, has resumed supply to the Chinese market after a 10-month hiatus, but this has not significantly impacted the market dynamics as domestic manufacturers continue to dominate [10][11]. Flu Activity and Trends - The flu season may start earlier than in previous years, with reports indicating an increase in flu cases, particularly in southern provinces [3][4]. - The predominant strain this year is H3N2, which poses a higher risk due to lower public immunity compared to last year's H1N1 strain [4][5]. Pricing Dynamics - The price of trivalent vaccines has decreased significantly, while quadrivalent vaccines have stabilized after a previous price war [12][13]. - The procurement prices for government-subsidized vaccines have varied, but the overall trend indicates a potential for future price adjustments due to market conditions [13][14]. Market Competition - The return of Sanofi to the Chinese market raises questions about competitive dynamics, but domestic manufacturers like Sinopharm, Beijing Kexing, and Hualan Biological remain the primary suppliers [10][11]. - The flu vaccine market is characterized as an incremental market with substantial demand, and companies do not view each other strictly as competitors [11]. Recommendations for Public Health - Health authorities continue to recommend annual flu vaccinations as the best preventive measure, alongside personal hygiene practices [5][6]. - Increased public awareness and education about the importance of flu vaccination are essential for improving vaccination rates [13].

Market Overview - The biopharmaceutical sector experienced a decline of 0.57% on October 22, with Aopumai leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable gainers in the biopharmaceutical sector included: - Wendi Pharmaceutical (688488) with a closing price of 14.77, up 4.01% [1] - Dongbao Bio (300239) at 5.78, up 2.66% [1] - Jinke (688670) at 17.03, up 2.59% [1] - Major decliners included: - Aopumai (688293) at 55.19, down 4.40% [2] - Wofu Bio (300357) at 31.63, down 3.18% [2] - Sanofi (688336) at 59.60, down 2.39% [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 192 million yuan from institutional investors, while retail investors contributed a net inflow of 53.82 million yuan [2] - Specific stock capital flows included: - Te Bao Bio (688278) with a net inflow of 19.00 million yuan from institutional investors [3] - Hualan Bio (002007) with a net inflow of 12.05 million yuan from institutional investors [3] - Aopumai (688293) with a net outflow of 4.40% from institutional investors [3]

证券之星消息，10月21日生物制品板块较上一交易日上涨1.16%，华兰疫苗领涨。当日上证指数报收于 3916.33，上涨1.36%。深证成指报收于13077.32，上涨2.06%。生物制品板块个股涨跌见下表： 从资金流向上来看，当日生物制品板块主力资金净流入1.39亿元，游资资金净流出9439.54万元，散户资 金净流出4501.94万元。生物制品板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 ...

Core Viewpoint - The A-share market is experiencing a surge in flu-related stocks, driven by rising flu activity in southern provinces and the emergence of the H3N2 strain, which has led to increased investor interest in pharmaceutical companies [1][2] Company Performance - **Jinshi Yiyao**: Increased by 13.44%, with a total market value of 4.644 billion [2] - **Guangji Pharmaceutical**: Rose by 9.97%, total market value of 2.448 billion [2] - **Te Yi Pharmaceutical**: Gained 8.78%, market value of 5.209 billion [2] - **Hualan Biological Engineering**: Up by 8.59%, with a market value of 12.9 billion [2] - **Lingkang Pharmaceutical**: Increased by 7.01%, market value of 4.291 billion [2] - **Hengdi Pharmaceutical**: Rose by 6.60%, market value of 5.466 billion [2] - **Innotec**: Increased by 5.37%, market value of 4.459 billion [2] - **Weikang Pharmaceutical**: Up by 4.76%, market value of 3.471 billion [2] - **Yirui Biological**: Increased by 4.67%, market value of 4.359 billion [2] Market Trends - The China CDC reported a slow increase in respiratory disease cases nationwide, with flu activity rising in southern provinces and remaining low in northern regions [1] - Experts suggest that the flu season may arrive earlier this year, with a potential increase in infection rates due to lower immunity against the H3N2 strain [1]

Core Viewpoint - The flu-related stocks experienced a significant surge on October 21, with notable increases in companies such as Te Yi Pharmaceutical, Jinshi Yao, and Hualan Vaccine, driven by rising flu activity in southern China and predictions of an earlier flu season this year [1][4]. Group 1: Stock Performance - Te Yi Pharmaceutical reached a trading limit with a price of 10.27, reflecting a 9.96% increase [2] - Jinshi Yao saw a price increase to 11.73, marking a 15.11% rise [2] - Hualan Vaccine's stock rose to 22.15, showing an 11.87% increase [2] - New Ganjing's stock price increased to 23.72, with a rise of 11.41% [2] - Other companies like Hengdi Pharmaceutical and Xiangrikui also followed the upward trend [1]. Group 2: Flu Activity and Predictions - The China CDC reported an increase in flu activity in southern provinces, indicating a potential early onset of the flu season this year [4] - Experts noted that the predominant flu strain this year is H3N2, differing from last year's H1N1 strain, which may lead to lower immunity levels in the population [5]. Group 3: Vaccination Recommendations - Vaccination is emphasized as the most effective method to prevent flu and reduce severe cases, with recommendations for individuals to get vaccinated between September and November [8] - The flu vaccine needs to be administered annually due to the rapid mutation of the virus, ensuring protection against the current year's strains [8][9]. - High-risk groups, including children under 5, the elderly, and individuals with chronic health conditions, are advised to prioritize vaccination [12].

Group 1 - The core viewpoint of the article highlights a significant rise in flu-related stocks, with companies like Te Yi Pharmaceutical hitting the daily limit, and others like Jinshi Yao, Hualan Vaccine, and Xin Ganjing seeing increases of over 10% [1][2] - The flu activity in southern China is on the rise, with experts predicting an earlier flu season this year compared to last, and the circulating strain being different from the previous year [2][3] - The predominant strain this year is H3N2, which may lead to lower immunity in the population compared to last year's H1N1 strain, necessitating increased attention [4][5] Group 2 - Vaccination is emphasized as the most effective method to prevent flu and reduce severe cases, with recommendations for vaccination between September and November to ensure effective immunity before peak season [6][7] - The article discusses the differences between trivalent and quadrivalent flu vaccines, noting that while quadrivalent vaccines cover an additional strain, the practical difference in effectiveness is minimal [10] - High-risk groups, including children under 5, the elderly over 65, pregnant women, and those with chronic health conditions, are advised to prioritize flu vaccination [12]

Core Viewpoint - The article highlights the rising flu activity in southern China, with predictions of an earlier flu season this year compared to last, primarily driven by the different circulating strain, H3N2, which the public has lower immunity against [2][3]. Group 1: Flu Activity and Strain Information - The current flu season is characterized by the predominance of the H3N2 strain, contrasting with last year's H1N1 strain, indicating a need for heightened awareness due to lower public immunity [3]. - Clinical symptoms of H3N2 include high fever, cough, sore throat, body aches, fatigue, and headache, which are similar to other flu strains [3]. Group 2: Vaccination Recommendations - Vaccination is emphasized as the most effective method to prevent flu and reduce severe cases, with the recommended vaccination period being from September to November to ensure immunity before peak season [5]. - Annual vaccination is necessary due to the rapid mutation of flu viruses, which may differ from year to year, thus requiring updated protection [6]. - High-risk groups, including children under 5, the elderly over 65, pregnant women, and those with chronic health conditions, are advised to receive vaccinations promptly [10]. Group 3: Vaccine Types and Administration - The available flu vaccines in China include inactivated (split) vaccines (trivalent/quadrivalent), inactivated (subunit) vaccines (trivalent/quadrivalent), and live attenuated vaccines (trivalent, nasal spray) [8]. - The difference between trivalent and quadrivalent vaccines lies in the number of virus strains they protect against, with quadrivalent covering an additional B strain, although the practical effectiveness may not differ significantly [8].