华兰疫苗净利下降逾五成

Core Insights - Hualan Vaccine reported a significant decline in revenue and profit for the first three quarters of 2025, with total revenue of 806 million yuan, down 15.8% year-on-year, and a net profit of 132 million yuan, down 50.5% [1][2] Financial Performance - For the first three quarters of 2025, the company's operating cash flow net amount was 182 million yuan, a decrease of 48.1% year-on-year [1] - The gross profit margin for the first three quarters was 76.99%, down 4.06 percentage points year-on-year, while the net profit margin was 16.42%, down 11.51 percentage points [1] - In Q3 2025, revenue was 746 million yuan, a decline of 19.1% year-on-year, and net profit was 112 million yuan, down 53.9% [1] - The gross profit margin for Q3 2025 was 77.13%, down 4.14 percentage points year-on-year, and the net profit margin was 14.95%, down 11.31 percentage points [1] Asset and Shareholder Information - As of the end of Q3 2025, total assets were 7.179 billion yuan, a decrease of 4.6% from the end of the previous year, and net assets attributable to shareholders were 5.675 billion yuan, down 5.6% [1] - The company's cash and cash equivalents amounted to 854 million yuan, an increase of 37.09% year-on-year [1] - Accounts receivable stood at 1.348 billion yuan, indicating significant collection pressure [1] - By the end of Q3 2025, the total number of shareholders was 17,100, an increase of 273 from the end of the first half of the year, with an average holding value per shareholder rising to 605,700 yuan, an increase of 0.86% [2]