百克生物2025年净利亏损2.72亿元，同比转亏

Core Viewpoint - Baike Biological (688276) reported a significant decline in its 2025 performance, with a revenue drop of 51.85% year-on-year and a net profit loss of 2.72 billion yuan, compared to a profit of 2.32 billion yuan in the previous year [1] Revenue Performance - The company achieved an operating income of 592 million yuan in 2025, marking a 51.85% decrease compared to the previous year [1] - The decline in revenue is attributed to various factors, including public awareness of diseases and willingness to consume vaccines [1] Profitability - Baike Biological reported a net profit of -272 million yuan for 2025, a shift from a profit of 232 million yuan in the previous year, indicating a transition from profit to loss [1] Contributing Factors - The revenue decline was influenced by the expiration of confirmed income from the herpes zoster live attenuated vaccine, which could not be administered, leading to returns [1] - To enhance public awareness of herpes zoster prevention and fulfill corporate social responsibility, the company actively promoted welfare projects and adjusted prices, resulting in a decrease in the unit price of the herpes zoster vaccine, further contributing to revenue decline [1] - Additionally, a decrease in the birth rate and intensified market competition led to a reduction in sales of the varicella live attenuated vaccine, which also impacted revenue negatively [1]