Group 1 - The company, Changchun Baike Biotechnology Co., Ltd., expects a net profit attributable to shareholders of the parent company to be between -220 million to -280 million yuan for the year 2025, indicating a loss compared to the previous year [1] - The main reason for the performance change is a significant decline in revenue from the company's main products, particularly the sales of the herpes zoster live attenuated vaccine, which decreased due to factors such as disease awareness and vaccine consumption willingness [1] - The company is actively promoting public awareness of herpes zoster prevention and has adjusted vaccine pricing to enhance vaccination rates, resulting in a decrease in the unit price of the herpes zoster vaccine [1] Group 2 - The company is facing challenges due to a decline in newborn birth rates and increased market competition, leading to a reduction in sales of the varicella live attenuated vaccine [1] - To address these challenges, the company is implementing various marketing initiatives to activate market potential, including optimizing pricing strategies and expanding product promotion channels [1] - The company is committed to innovation in research and development, with a diversified pipeline that includes children's vaccines, adult vaccines, multi-valent vaccines, therapeutic vaccines, and monoclonal antibodies, aiming to lay a solid foundation for future growth [1]

Core Viewpoint - Zhonghui Biotech-B (02627) has seen a stock increase of over 7%, currently at 46.5 HKD with a trading volume of 18.84 million HKD, following a recommendation from health experts for annual flu vaccinations for all individuals over 6 months old without contraindications [1] Group 1: Product and Market Performance - Huiliankangxin is the first and only quadrivalent subunit flu vaccine in China, offering comprehensive protection, high purity of antigen components, and lower risk of adverse reactions compared to split vaccines [1] - The product was approved for domestic market launch in 2023, targeting individuals aged 3 and above, with plans to expand to those over 6 months old by 2025 [1] - Projected revenue for 2024 is 260 million RMB, representing a year-on-year growth of 398% [1] Group 2: Company Development and Strategy - The company has developed a comprehensive vaccine development support platform and proprietary technology platform, aligning with international trends through years of research [1] - The company is advancing both innovative vaccine research and traditional vaccine upgrades, creating a rich pipeline of vaccines [1] - In addition to the quadrivalent flu vaccine and human diploid cell rabies vaccine, the company is actively developing 11 other vaccines to address unmet public health needs and market gaps [1]

Core Viewpoint - The company, Zhifei Biological, is expected to face significant losses in 2025, with a projected pre-loss of between 10.698 billion and 13.726 billion yuan due to declining vaccination willingness and increased vaccine hesitancy in the industry [2] Group 1: Financial Performance - The losses are primarily attributed to lower-than-expected sales of main products and the need to write down inventory and accounts receivable to reflect true financial conditions [2] - Excluding the impact of these write-downs, the company's performance would appear relatively better, indicating a strategic financial optimization rather than operational disorder [2] - The company reported a net cash flow from operating activities of 2.985 billion yuan in Q3 2025, a year-on-year increase of 201.18%, indicating improved cash flow health [3] Group 2: Business Operations - Zhifei Biological is solidifying its operational foundation through a dual-driven model of agency and self-research, with significant product approvals expanding market coverage [3] - The company has received approval for the male indication of the nine-valent HPV vaccine, becoming the first in China to cover both genders, and has expanded the indication for the recombinant shingles vaccine [3] Group 3: Research and Development - As of Q3 2025, the company has 34 self-research projects, with 21 in various stages of clinical trials or application for market approval, indicating a robust pipeline for future growth [4] - The company is advancing in both preventive and therapeutic areas, with significant progress in clinical trials for its dual-target agonist for weight loss and blood sugar reduction [4] Group 4: International Expansion - The company is also pursuing internationalization, with its self-developed vaccines undergoing clinical trials in countries like Bangladesh and Australia, marking a step towards global market presence [4] - The international development of vaccines is expected to complement domestic operations and enhance overall growth prospects [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 所產生或因依賴該等內容而引致的任何損失承擔任何責任。 自願公告 三葉草生物啟動 RSV - hMPV - PIV3 呼吸道聯合疫苗候選產品 2 期臨床試驗 本公告由三葉草生物製藥有限公司（「本公司」或「三葉草生物」，連同其附屬公司統 稱「本集團」）董事（「董事」）會（「董事會」）自願作出，以知會本公司股東及潛在投 資者本集團最新的業務發展狀況。 本公司欣然宣佈，基於本公司自研獨有的 Trimer-Tag（蛋白質三聚體化）疫苗研發平 臺開發的 Pre-F 三聚體亞單位重組蛋白呼吸道聯合疫苗候選產品 SCB-1022 (RSV+hMPV) 與 SCB-1033 (RSV+hMPV+PIV3) 在澳大利亞已完成首批受試者入組， 正式啟動 2 期臨床試驗。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 三葉草生物製藥有限公司 董事長 梁朋博士 中國上海，2026 年 1 月 12 日 於本公告日期，董事會包括執行董事梁朋博士及梁果先生；非執行 ...

Core Viewpoint - The company is advancing the development of a higher-priced pneumonia conjugate vaccine product, leveraging its conjugate vaccine technology and extensive carrier protein reserves [1] Group 1: Vaccine Development - The 24-valent pneumococcal polysaccharide conjugate vaccine (CRM197/tetanus toxoid) has applied for clinical trials [1] - The PCV24 vaccine covers the major circulating serotypes of pneumococcus and utilizes a covalent binding method between polysaccharide antigens and protein carriers [1] - The vaccine is intended for administration to individuals aged 2 months (minimum 6 weeks) and older, targeting both infants and adults [1]

Core Viewpoint - The company announced that its 24-valent pneumococcal polysaccharide conjugate vaccine has received approval from the National Medical Products Administration for clinical trials aimed at preventing infections caused by 24 serotypes of pneumococcus [1] Group 1 - The vaccine, referred to as PCV24, covers the main circulating serotypes of pneumococcus [1] - It utilizes a covalent binding method between polysaccharide antigens and protein carriers, employing a dual carrier technology [1] - The vaccine is intended for administration to individuals aged 2 months (minimum 6 weeks) and older to prevent infections caused by the specified pneumococcal serotypes [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for the clinical trial of a 24-valent pneumococcal polysaccharide conjugate vaccine, indicating progress in vaccine development aimed at preventing infections caused by 24 serotypes of pneumococcus [1] Group 1 - The vaccine utilizes a covalent combination of polysaccharide antigens and protein carriers, employing dual carrier technology [1] - It is intended for administration to individuals aged 2 months (minimum 6 weeks) and older [1] - The development of the vaccine is characterized by significant challenges and lengthy timelines, requiring clinical trial applications, execution of clinical trials, and drug registration approval before market launch [1]

Core Viewpoint - The 100th anniversary of Gu Fangzhou's birth has been officially included in UNESCO's commemorative activities, highlighting his significant contributions to public health through the development of the oral polio vaccine, which has protected millions of children from poliomyelitis [1][20]. Group 1: Historical Context - In 1955, a large outbreak of poliomyelitis occurred in Jiangsu, quickly spreading to other cities, posing a severe threat to children under seven years old [3]. - Gu Fangzhou was tasked with developing a vaccine in 1957, marking the beginning of his lifelong commitment to combating poliomyelitis [5]. Group 2: Vaccine Development Process - In 1959, Gu Fangzhou and his team learned vaccine production techniques in the Soviet Union and returned to China to begin experimental production [7][8]. - Gu Fangzhou personally tested the vaccine and even used his own son as the first child subject in the trials, demonstrating his commitment to ensuring the vaccine's safety [10][12]. Group 3: Impact and Achievements - The first batch of 500 million doses of the vaccine was produced in December 1960, significantly reducing the incidence of poliomyelitis in China [12]. - By 2000, China was officially recognized as a polio-free country, marking a significant public health achievement [16]. Group 4: Legacy - Gu Fangzhou's innovative approach to vaccine formulation, including the creation of the sugar-coated vaccine, has left a lasting legacy in public health [13]. - His story and contributions have transcended national borders, becoming a shared human legacy recognized by UNESCO [20].

Group 1 - The stock of Kang Le Wei Shi (920575.BJ) closed at 8.27 yuan, with a decline of 4.83%, currently in a state of breaking issue [1] - Kang Le Wei Shi was listed on the Beijing Stock Exchange on March 15, 2023, with an initial offering price of 42.00 yuan, and the stock closed at 35.52 yuan on its first day, a drop of 15.43% [1] - The company issued 7,000,000 shares (excluding the overallotment option) and 8,050,000 shares (if the overallotment option is fully exercised) [1] Group 2 - The total amount of funds raised by Kang Le Wei Shi before the exercise of the overallotment option was 29,400,000 yuan, with a net amount of 26,662,410 yuan after deducting issuance costs of 2,737,590 yuan (excluding VAT) [1] - The net amount raised was 3,337,590 yuan less than the original plan of 30,000,000 yuan, which was intended for HPV vaccine research and the construction of a production base in Kunming [1] - The total issuance costs were 2,737,590 yuan (before the exercise of the overallotment option) and 3,008,020 yuan (if the overallotment option is fully exercised) [2] Group 3 - On May 17, 2023, Kang Le Wei Shi announced a dividend plan of 10 shares for every 10 shares, with the ex-dividend date set for May 26, 2023 [3]

Group 1: Vaccine Development Progress - The five-component vaccine is currently in Phase III clinical trials, making it the fastest progressing domestic five-component vaccine in China, aiming to break the import monopoly [1] - The recombinant hepatitis B vaccine for chronic hepatitis B patients has received clinical trial approval, targeting a population of approximately 75 million chronic HBV carriers in China [2] - The company is also developing a Klebsiella pneumoniae vaccine to address antibiotic-resistant bacteria, which is a significant global public health challenge [3] Group 2: Market Potential and Growth - The global chronic hepatitis B infection rate is approximately 254 million, with a prevalence rate of 5% to 7% in China, indicating a substantial unmet clinical need [2] - The hepatitis B virus drug market in China is projected to exceed 70 billion yuan by 2030, with an annual compound growth rate of 18% from 2019 to 2030 [2] - The adult vaccination market in China remains underdeveloped compared to developed countries, presenting significant growth opportunities as public awareness increases [3] Group 3: Research and Development Investment - In the first half of 2025, the company invested 334 million yuan in R&D, accounting for 23.96% of its revenue, a 41.52% increase from the same period in 2024 [4] - The company is advancing multiple vaccine candidates, including the four-valent influenza vaccine and the five-component vaccine, with several in various clinical trial phases [5] Group 4: International Expansion - The company is expanding its international presence through partnerships in over 20 countries, focusing on product registration and commercialization [6] - In the first three quarters of 2025, overseas revenue reached 41.9 million yuan, a 324.27% increase year-on-year [7] Group 5: Future Development Strategy - The company plans to enhance its market presence through "internal innovation + external expansion," focusing on core pipeline advantages and optimizing sales networks [8] - Continuous R&D investment will drive the development of multi-component, adult, innovative, and therapeutic vaccines, aiming to build a competitive product matrix [9] Group 6: Shareholder Returns - In June 2025, the company distributed cash dividends amounting to 101 million yuan, representing 49.85% of the net profit attributable to shareholders for 2024 [9] - Since its listing in 2017, the company has distributed a total of 1.885 billion yuan in cash dividends, accounting for 44.66% of the total net profit attributable to shareholders [9]