420亿蒋仁生，重庆首富宝座不稳

Core Insights - The wealth of the Jiang Rensheng family, associated with Zhifei Biological, has reached 42 billion yuan, making them the richest in Chongqing, despite a 4% increase from the previous year, their wealth has decreased by nearly 100 billion yuan compared to 2021 [2][35] - Zhifei Biological has reported a significant decline in performance, with a 66.53% drop in revenue and a net profit loss of 1.206 billion yuan in the first three quarters, marking the first time the company has reported a loss in this period since its listing [3][4][35] Financial Performance - In Q3, Zhifei Biological's revenue fell by 40% to 2.705 billion yuan, with a net profit loss of 601 million yuan, reflecting a 556.79% decline [4][5] - For the first three quarters, the company achieved a revenue of 7.627 billion yuan, down 66.53%, and a net profit loss of 1.206 billion yuan, a shift from profit to loss [4][5] - The company's cash flow from operating activities increased by 201.18% to 2.985 billion yuan due to reduced payments for agency product purchases [6] - Sales expenses decreased by 16.57% to 1.615 billion yuan, while R&D expenses fell by nearly 10% to 669 million yuan, which may impact the competitiveness of its products [7] Market Challenges - The decline in revenue is attributed to unmet market sales expectations, particularly in the HPV vaccine market, which is becoming saturated [5][11] - The company has seen a significant drop in the issuance of its HPV vaccines, with the four-valent HPV vaccine's issuance dropping to zero and the nine-valent vaccine's issuance down by 76.8% [16][18] - The performance of the company's restructured shingles vaccine has also been underwhelming, with only about 570,000 doses issued, a decrease of 64.24% [18] Ownership and Dividends - Jiang Rensheng and his son hold 48.44% and 5.41% of Zhifei Biological's shares, respectively, allowing them to benefit significantly from dividends [9] - The company has a history of generous dividends, totaling 7.318 billion yuan since 2010, with a dividend rate of 20.7%, although there are no plans for dividends this year [8]