BCHT(SH:688276)2025-10-30 08:35Financial Performance - The company's operating revenue for Q3 2025 was ¥189,546,595.31, a decrease of 53.50% compared to the same period last year[3]. - The total profit for the period was -¥104,969,647.34, reflecting a decline of 187.09% year-over-year[3]. - The net profit attributable to shareholders was -¥84,677,091.89, down 179.31% from the previous year[3]. - The basic earnings per share for the period was -¥0.20, a decline of 176.92% compared to the same period last year[3]. - The net profit for the first three quarters of 2025 was -158,250,519.93 RMB, compared to a net profit of 244,369,819.42 RMB in the same period of 2024, representing a significant decline[32]. - Operating profit for the current period was -226,720,962.84 RMB, a decrease from 283,707,576.25 RMB in the previous year[32]. - Total comprehensive income for the first three quarters of 2025 was -167,252,623.54 RMB, compared to 223,606,855.63 RMB in the same period of 2024[33]. - The company's total revenue for the first three quarters of 2025 was ¥474,411,792.53, a decrease of 53.8% compared to ¥1,026,012,316.58 in the same period of 2024[42]. - Operating profit for the first three quarters of 2025 was a loss of ¥500,145,675.71, compared to a profit of ¥286,862,678.73 in the first three quarters of 2024[42]. - Net profit for the first three quarters of 2025 was a loss of ¥388,894,096.21, while the net profit for the same period in 2024 was ¥247,493,581.24[42]. Revenue and Sales - The company's revenue decreased due to returns of the shingles vaccine and a reduction in sales of the varicella vaccine, with a total revenue impact of approximately 14,386.23 million RMB from the shingles vaccine[13]. - The sales volume of the shingles vaccine for the period was 65,400 doses, leading to a revenue decrease of 14,386.23 million RMB, with estimated returns impacting revenue by 30,879.8 million RMB[14][15]. - The varicella vaccine sales volume decreased by 1,339,700 doses, resulting in a revenue decline of 14,037.30 million RMB, attributed to increased competition and changes in local immunization policies[16]. Research and Development - Research and development expenses amounted to ¥79,697,327.78, representing 42.05% of operating revenue, an increase of 34.45 percentage points[4]. - Research and development expenses increased to 138,541,423.72 RMB in 2025 from 116,503,270.72 RMB in 2024, indicating a focus on innovation[32]. - The company is focusing on developing a combined DTPa-Hib vaccine, which, if approved, will enhance its vaccine product pipeline and provide new growth opportunities[22][24]. - The company received approval for the liquid nasal influenza vaccine, which is expected to enhance the company's product structure and core competitiveness[18][19]. - The liquid nasal influenza vaccine is designed for individuals aged 3 to 17 years and aims to provide a more convenient vaccination option[18]. - The company also obtained approval for the clinical trial of the acellular pertussis-diphtheria-tetanus combined vaccine, which addresses public health needs and aims to improve vaccination coverage[20]. - The company is conducting clinical research to expand the eligible population for the liquid nasal influenza vaccine, enhancing its vaccine pipeline[19]. Financial Position - The total assets at the end of the reporting period were ¥5,210,196,644.05, a slight increase of 0.10% from the end of the previous year[4]. - The company's total assets as of September 30, 2025, were ¥5,278,313,448.12, compared to ¥5,503,880,417.19 as of December 31, 2024[39]. - The company's total liabilities rose to CNY 1,252,597,411.50 as of September 30, 2025, compared to CNY 987,120,567.56 at the end of 2024, indicating an increase of approximately 27%[29]. - Total liabilities as of September 30, 2025, were ¥1,250,110,065.86, an increase from ¥984,884,421.21 as of December 31, 2024[39]. - The company's long-term equity investments increased significantly to CNY 359,471,539.14 as of September 30, 2025, from CNY 33,482,864.39 at the end of 2024[27]. - The total equity of the company as of September 30, 2025, was ¥4,028,203,382.26, compared to ¥4,518,995,995.98 as of December 31, 2024[40]. Cash Flow and Investments - The net cash flow from operating activities was -¥14,809,350.60, a decrease of 106.46% year-to-date[3]. - Cash flow from operating activities for the first three quarters of 2025 was -14,809,350.60 RMB, down from 229,104,857.16 RMB in 2024[36]. - The company’s cash and cash equivalents decreased to CNY 157,439,788.29 as of September 30, 2025, from CNY 344,869,136.24 at the end of 2024, representing a decline of approximately 54.4%[27]. - The ending cash and cash equivalents balance for the first three quarters of 2025 was $157.33 million, down 42.1% from $272.23 million in 2024[46]. - Cash outflow from investment activities in the first three quarters of 2025 was $286.79 million, a decrease of 26.9% from $392.33 million in 2024[46]. - Cash inflow from borrowings in the first three quarters of 2025 was $269.08 million, slightly up from $256.08 million in 2024[46]. - Cash outflow for repaying debts in the first three quarters of 2025 was $75.83 million, a decrease of 64.7% from $213.97 million in 2024[46]. Shareholder Information - The company reported a total of 10,824 common shareholders at the end of the reporting period[10]. - The largest shareholder, Changchun High-tech Industry (Group) Co., Ltd., holds 41.46% of the shares[10]. Strategic Outlook - The company warns investors about the uncertainties associated with the clinical trials of its new vaccines, emphasizing the potential risks involved[22][24]. - The overall performance reflects challenges in vaccine sales but also highlights strategic advancements in product development and regulatory approvals[12][13]. - The company aims to mitigate investment risks associated with the uncertain timeline for the market launch of the liquid nasal influenza vaccine[19]. - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[47]. - The board of directors announced the financial results on October 29, 2025[48].