Core Viewpoint - Wantai Biological's nine-valent HPV vaccine has been approved for market release, which may provide a turnaround for the company's pressured performance [1][10]. Group 1: Product Approval and Development - Wantai Biological's subsidiary, Xiamen Wantai Canghai Biotechnology Co., Ltd., has received approval for its nine-valent HPV vaccine, named Xinkening 9 [1]. - The nine-valent HPV vaccine covers seven high-risk types (HPV 16/18/31/33/45/52/58) and two low-risk types (HPV 6/11), effectively preventing related diseases [1]. - The company is the second globally and the first in China to apply for clinical trials for a domestic nine-valent cervical cancer vaccine, with the application process taking approximately 10 years [4][6]. Group 2: Financial Implications and Market Potential - As of May 2025, the cumulative R&D investment in the nine-valent HPV vaccine is approximately 1 billion yuan (unaudited) [5]. - Analysts predict that the nine-valent HPV vaccine could generate sales of up to 22.8 billion yuan, potentially becoming a core driver for the company's performance [10]. - The company has faced declining profits, with net profit dropping from 4.736 billion yuan in 2022 to 1.248 billion yuan in 2023, and projected to fall further to 106 million yuan in 2024 [11]. Group 3: Market Position and Competitive Landscape - The nine-valent HPV vaccine is expected to compete with the existing imported product, Merck's Gardasil 9, which was the only nine-valent HPV vaccine available until now [6]. - The vaccine is suitable for women aged 9-45, with different dosing schedules based on age [6]. - The pricing strategy for Wantai's vaccine remains undisclosed, but the imported version is priced at approximately 4,380 yuan for three doses [7][8]. Group 4: Shareholder Information - As of the first quarter of 2025, Zhong Shanshan directly holds 224 million shares of Wantai Biological, and his wholly-owned company, Yangshengtang, is the largest shareholder with 706 million shares, collectively holding about 73.5% of the total shares [12]. Group 5: Current Market Valuation - As of the latest closing, Wantai Biological's stock price is 71.24 yuan per share, with a total market capitalization of approximately 90.127 billion yuan [13].