停牌6年后科兴生物要退市

Core Points - Company signed two PDP projects with the Brazilian Ministry of Health to supply approximately 60 million doses of varicella and rabies vaccines over the next 10 years, valued at over $700 million (approximately 5 billion RMB) [2] - This contract represents the largest international order in terms of duration and value obtained by a Chinese vaccine company to date [2] - Company is facing a delisting crisis due to failure to submit the 2024 annual report on time, receiving a delisting notice from NASDAQ [2][4] Company Background - Founded in 2001, the company became the first Chinese vaccine enterprise to be listed on NASDAQ through a reverse merger in 2003 [4] - The company experienced significant revenue growth during the pandemic, with 2021 revenue reaching $19.4 billion and net profit of $14.46 billion [4][5] - Internal power struggles have been ongoing since 2016, with key figures involved in disputes over control of the company [5][6] Financial Situation - As of July 2025, the company has cash reserves of $10.3 billion and announced a dividend plan totaling $7.448 billion (approximately 53 billion RMB) [6] - The dividend plan is structured in three phases, with the first phase already paid out, raising concerns about the sustainability of the company's financial health given its current market capitalization of only $390 million [6]