Core Viewpoint - Jiangsu Zhonghui Yuantong Biotechnology Co., Ltd. (Zhonghui Bio) reported significant growth in its first interim performance announcement post-IPO, driven by the commercialization of its core product, the quadrivalent influenza virus subunit vaccine, Hui Er Kang Xin® [1] Financial Performance - The company achieved a revenue of 71.12 million yuan in the first half of the year, representing a year-on-year increase of 918.91% [1] - Sales costs decreased by 18.3% year-on-year, while gross margin improved to 85.5% [1] - Losses narrowed by 22% compared to the previous year, indicating ongoing improvement in profitability [1] Product Development and Market Penetration - The quadrivalent influenza virus subunit vaccine, Hui Er Kang Xin®, is the first and only approved quadrivalent influenza subunit vaccine in China, with a 100% batch release qualification rate since its commercialization began in September 2023 [2] - The product's market coverage has expanded to 30 provinces, with over 1,100 county-level CDC collaborations, enhancing market penetration [2] - The vaccine's strategy for full population coverage has made significant progress, with an application for infants aged 6-35 months expected to be approved by Q3 2025 [2] Research and Development Pipeline - The lyophilized human rabies vaccine has entered the final clinical stage, showing good safety characteristics in Phase I trials [3] - The company has a diversified pipeline of 11 vaccines, with multiple key milestones expected between 2025 and 2026 [4] - The 23-valent pneumococcal polysaccharide vaccine has entered Phase III clinical sample preparation, while the recombinant shingles vaccine has commenced Phase II trials [4] Global Expansion Strategy - The company is building a global sales network, with plans to enter markets in Indonesia, Thailand, and Uruguay by 2025, and expand to Canada, Singapore, Mexico, and Hong Kong by 2026 [5] - The company has received registration certificates in Macau and is progressing smoothly with registration in the Philippines [5] - The R&D team is well-supported, with a significant portion of staff holding advanced degrees, ensuring robust pipeline advancement [5]
中慧生物(02627)2025 年中期业绩报告：商业化加速兑现 研发管线梯次突破