Core Viewpoint - Hualan Biological's influenza vaccine has been removed from the World Health Organization's prequalification list, but the company asserts that this will not impact its overseas sales or overall performance [1]. Company Summary - Hualan Biological's influenza vaccine was first prequalified by the WHO in 2015, making it the first domestic influenza vaccine to receive this certification [4]. - The company plans to withdraw its three-valent influenza vaccine from the WHO prequalification list due to the age of its production facility, which has been in operation for 18 years [1]. - Hualan Biological's vaccine production capacity is robust, with the new production facilities (3/4/5/6) capable of producing 100 million doses of influenza vaccine annually [1]. Financial Performance - In 2024, Hualan Biological reported total revenue of 4.379 billion yuan, a year-on-year decrease of 18.02% [4]. - Vaccine products contributed 1.117 billion yuan to the total revenue, accounting for 25.51%, while blood products contributed 3.245 billion yuan, making up 74.12% of total revenue [4]. - The company's overseas business contributed only 1.727 million yuan, representing 0.04% of total revenue, indicating a strong focus on domestic operations [7]. Market Dynamics - The domestic influenza vaccine market is experiencing a price war, with significant price reductions initiated by major players, including Hualan Biological [10]. - Hualan's influenza vaccine prices have been reduced by approximately 30%, with specific products now priced at 88 yuan per dose for the four-valent influenza vaccine [10]. - The low vaccination rate in China, currently around 3%, is a significant barrier to market growth, with industry experts suggesting that lower prices could enhance vaccination uptake [10].