Hualan Vac(SZ:301207) Mei Ri Jing Ji Xin Wen·2025-08-28 13:40Core Viewpoint - Hualan Biological's revenue increased by 68.77% in the first half of 2025, despite a challenging environment for the vaccine industry, primarily driven by significant sales of rabies vaccines and a doubling of flu vaccine revenue [1][2][3]. Revenue Performance - Hualan Biological achieved a revenue of 59.96 million yuan in the first half of 2025, marking a year-on-year growth of 68.77% [1]. - The company's net profit attributable to shareholders was 20.80 million yuan, a decrease of 17.71% compared to the previous year [1]. - The flu vaccine revenue grew by 132.94%, contributing approximately 40% to the total revenue [2][3]. Market Dynamics - The domestic vaccine industry is undergoing a deep adjustment period due to price wars, particularly in the HPV vaccine segment, which has led to significant revenue declines for several companies [2]. - Hualan Biological's proactive sales efforts and increased market promotion have resulted in a notable rise in sales, especially for rabies vaccines [1][3]. Sales and Marketing Strategy - Sales expenses increased by 30.78% to 28.99 million yuan, reflecting the company's efforts to enhance market penetration and awareness [4]. - Hualan Biological's sales network covers over 30 provincial regions and more than 2,500 disease control centers, achieving a coverage rate of over 70% [4]. Future Growth Prospects - The company is focusing on expanding its product pipeline, with ongoing clinical trials for new vaccines, including a freeze-dried Hib vaccine and mRNA vaccines for flu and RSV [5]. - Hualan Biological aims to increase the sales revenue and market share of its rabies vaccine while enhancing public awareness of flu vaccination [5].