WALVAX(SZ:300142) Shang Hai Zheng Quan Bao·2025-04-11 20:36Core Viewpoint - The company is a leading biopharmaceutical enterprise in China, specializing in the research, development, production, and sales of human vaccines, with a mission to create accessible and high-quality innovative vaccine products for global health [2][3]. Company Overview - The company has developed a comprehensive portfolio of vaccines, including the 13-valent pneumococcal conjugate vaccine and the HPV vaccine, maintaining a leading market share in China since their launch [3][4]. - The company has exported its vaccine products to 22 countries and regions, contributing significantly to public health both domestically and internationally [2]. Product Sales - In 2024, the company achieved sales revenue of 2.54 billion yuan from its self-developed vaccines, accounting for 90.10% of total revenue, despite increasing competition in the global vaccine market [7]. - The 13-valent pneumococcal conjugate vaccine continues to hold the top market share in China, while the dual-valent HPV vaccine focuses on government procurement projects to enhance accessibility for young girls [7]. Product Production and Approval - The company successfully produced and approved 24,639,153 doses of its vaccines in 2024, ensuring a stable market supply while balancing inventory and sales [8]. New Product Development and Registration - The company invested 24.82% of its revenue in R&D in 2024, focusing on innovative vaccine development through collaboration with academic institutions and research organizations [9]. - The company is advancing several vaccine candidates, including the mRNA vaccine for COVID-19 variants, which has completed necessary clinical trials and is in the process of registration [10][11]. Export and International Cooperation - The company achieved overseas business revenue of 570 million yuan in 2024, marking a 98% year-on-year increase, with significant exports to new markets such as Afghanistan and Burkina Faso [12]. - The company’s dual-valent HPV vaccine received WHO prequalification, enhancing its procurement eligibility for international organizations [13]. Industrialization and Management Improvement - The company completed the construction of its production expansion project and implemented a digital management system for its entire product line, enhancing operational efficiency [16]. - The company is optimizing its governance structure and internal controls to support sustainable development and risk management [18][19]. Financial Data and Shareholder Information - The company has completed share buybacks and capital reductions, enhancing shareholder returns without significantly impacting its operational capabilities [30][27].