Group 1: Financial Performance - The company's operating revenue for the first half of 2025 was ¥59,961,774.27, representing a year-on-year increase of 68.77% [3] - The net profit attributable to shareholders decreased by 17.71% to ¥20,797,156.80 [3] - The net profit after deducting non-recurring gains and losses was -¥12,784,853.85, showing a year-on-year increase of 40.04% [3] - As of the end of the reporting period, total assets amounted to ¥6,912,395,737.39, with net assets attributable to shareholders at ¥5,918,534,037.40 [3] Group 2: Dividend Policy - The 2024 dividend plan is to distribute ¥2 per 10 shares, with a total cash dividend of ¥8 per 10 shares for 2025 [4] - The average annual net profit attributable to shareholders over the past three years was ¥5.284 billion, with cumulative cash dividends of ¥706.4 million, resulting in a payout ratio of 133.69% [4] - The company aims to enhance the stability and predictability of cash dividends while increasing the average payout ratio [4] Group 3: Vaccine Industry Insights - The global human vaccine market grew from $27.7 billion in 2017 to $46 billion in 2021, with a compound annual growth rate (CAGR) of 13.5%, projected to reach $83.1 billion by 2025 and exceed $131 billion by 2030 [4] - In China, the overall vaccination rate for influenza vaccines is approximately 3%, significantly lower than the rates in developed countries [5] - The CDC reported that the vaccination rates for the 2023-2024 flu season in the U.S. were 55.4% for ages 6 months to 17 years, 44.9% for adults, and 69.7% for seniors aged 65 and above [5] Group 4: Market Strategy and Future Growth - The company has established a sales network covering over 2,500 disease control centers across more than 30 provinces, achieving over 70% coverage [5] - To improve accessibility and market competitiveness, the company adjusted the price of its quadrivalent influenza vaccine starting June 5, 2024 [6] - Future growth points include the development of rabies and tetanus vaccines, with the company also advancing clinical trials for new products like mRNA vaccines [6]