康泰生物前三季度海外收入同比增长逾三倍

Core Insights - Shenzhen Kangtai Biological Products Co., Ltd. reported a revenue of 2.063 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 2.24% [1] - The company achieved a net cash flow from operating activities of 362 million yuan, marking a significant increase of 53.45% compared to the previous year [1] - R&D expenses reached 420 million yuan, up 34.74% year-on-year, constituting 20.36% of the current revenue, indicating a strong commitment to innovation [1] Financial Performance - The company maintained a robust financial performance with a cumulative net cash flow from operating activities of approximately 2.2 billion yuan from 2022 to 2024, providing a solid foundation for sustainable development [2] - The overseas revenue for the first three quarters was 41.9 million yuan, showing a remarkable growth of 324.27% [2] International Strategy - The approval of Kangtai's "dual carrier" 13-valent pneumonia vaccine for local production in Indonesia marks the company's first overseas technology transfer project, initiating a new chapter in commercial exports [2] - The company has successfully registered its 13-valent pneumonia vaccine in Nicaragua and its varicella vaccine in Pakistan, expanding its presence in key global markets [2] - Kangtai's international footprint now spans over 20 countries, with ongoing collaborations in densely populated regions aligned with the Belt and Road Initiative [2] Future Outlook - The company aims to enhance its commercialization capabilities for existing products and potential innovative vaccines through deepening overseas collaborations and technology transfers [3] - Kangtai is committed to advancing its vision of becoming a global innovative biopharmaceutical enterprise amid increasing market competition [3]