欧林生物筹备港股IPO：手握三款商业化产品，前三季度净利增超10倍

Core Viewpoint - Chengdu Olin Biotechnology Co., Ltd. has submitted its application for listing on the Hong Kong Stock Exchange, focusing on unmet medical needs in the fields of "super bacteria vaccines" and "adult vaccines" [3] Company Overview - Olin Biotechnology is a biopharmaceutical company with a strategic focus on developing vaccines for super bacteria and adult populations [3] - The company has commercialized three products: Tetanus Toxoid Vaccine, Hib Conjugate Vaccine, and AC Conjugate Vaccine [3] - Olin's Tetanus Toxoid Vaccine holds over 80% market share in China from 2022 to 2024 [4] Financial Performance - Revenue for Olin Biotechnology from 2022 to 2025 is projected as follows: 547 million CNY in 2022, 494 million CNY in 2023, 586 million CNY in 2024, and 305 million CNY in the first half of 2025 [4][5] - The company's profit and total comprehensive income for the same period are: 26.58 million CNY in 2022, 11.44 million CNY in 2023, 15.72 million CNY in 2024, and 13.23 million CNY in the first half of 2025 [4][5] - Gross profit margins are consistently high, ranging from 92.3% to 94.0% across the years [4] Market Position - Olin has established a sales network covering 30 provinces, municipalities, and autonomous regions in China, with over 8,100 vaccination points [3] - The company has direct commercial relationships with more than 2,000 district and county-level disease control centers [3] Recent Developments - As of November 26, 2025, Olin's stock price increased by 5.42% to 24.51 CNY, with a total market capitalization of 9.949 billion CNY [9][10] - The stock has shown significant volatility, with a 52-week high of 34.68 CNY and a low of 10.07 CNY [10]