新甘肃·每日甘肃网记者 张春燕 作为西北首个将适龄女童HPV疫苗接种纳入省级为民实事的省份，甘肃省始终把妇女儿童健康保障摆在民 生工作突出位置。2025年以来，全省上下锚定"为10万名适龄女童提供HPV疫苗接种服务"的民生目标，秉 持"知情、自愿、补贴"原则，构建跨部门协同、全流程保障、广覆盖宣传的工作体系，稳步推进疫苗接种 各项工作。截至2025年12月底，全省适龄女童HPV疫苗首针接种达100678人。 省级层面强化权威引领，省妇联联合疾控专家制作科普短视频5期、宣传长图和科普三折页2万份，印制宣 传海报7000份，针对热点问题进行权威解答；联合主流媒体开展深度宣传，扩大项目社会影响力。各市 州、各县区创新宣传形式，打造特色品牌：陇南市通过县区融媒体发布科普信息610条，线上阅读量超6.7 万次，入户宣传8.7万户；酒泉市瓜州县开通"校医+班主任双岗答疑"专线，对未签约家长实行"一户一 策"沟通，开展"健康课堂进家庭"活动…… 针对特殊群体和重点区域，各地开展精准化宣传服务。张掖市山丹县针对留守儿童多的实际，推出线上一 对一政策答疑、线上签署同意书等举措；陇南市成县、定西市临洮县组织妇联干部、网格员开展" ...

Group 1 - Chinese commercial aerospace companies are actively expanding into overseas markets, utilizing "rideshare launch" models to reduce costs and attract international clients from countries like Egypt, Nepal, and the UAE. The domestic launch cost has decreased to 50,000-60,000 yuan per kilogram, but still lags behind SpaceX, which has a competitive edge due to its high-frequency launches and Starlink project [3][4]. - The home appliance and light manufacturing industries are expected to face pressure on both domestic and foreign sales in 2026, with a potential recovery in overseas sales in the latter half of the year. Emerging markets are anticipated to show stronger demand compared to developed markets, particularly in Latin America and Southeast Asia [5]. - China's automotive exports are projected to reach 5.859 million units in 2024, maintaining the top position globally, with a shift from vehicle exports to a more comprehensive output of technology, brand, and supply chain solutions. This transition reflects a move from "selling products" to "building brands" [6][7]. Group 2 - The development of autonomous driving technology in China is being propelled by high-quality growth initiatives and strategic policies, with companies like Baidu Apollo enhancing safety standards and promoting technology exports. The industry is evolving into a collaborative ecosystem that drives innovation and reliability [7][8]. - The Chinese潮玩 (trendy toy) industry is rapidly globalizing, with brands like Pop Mart and 52TOYS successfully entering overseas markets through localized strategies and partnerships. The market share of Chinese潮玩 in the overseas market is projected to grow from 3% in 2020 to 18% by 2025 [9]. - Chinese companies are increasingly investing in the European market, particularly in renewable energy and high-tech sectors, while facing challenges such as national security reviews and compliance issues. Differentiated strategies and localized investments are essential for success [10]. Group 3 - Amazon's global store initiative aims to cultivate 200 cross-border brands in Shandong over the next three years, focusing on AI-driven strategies and innovative measures to enhance logistics efficiency and support local sellers [11]. - The Chinese commercial vehicle sector is transitioning from product trade to a comprehensive service model, emphasizing lifecycle services and local adaptation. The export of Chinese commercial vehicles to the EU has seen a 42% year-on-year increase [18]. - The digital culture industry in China is experiencing rapid growth, with online games, films, and literature becoming key components of global cultural exchange. The industry is encouraged to enhance IP development and international collaboration to overcome cultural barriers [17].

Core Viewpoint - The A-share vaccine sector is expected to underperform, with a projected increase of 9% by December 28, 2025, lagging behind the broader market by 10 percentage points, indicating a weak overall performance in the sector [1] Group 1: Industry Overview - The 2026 investment strategy for the vaccine sector focuses on three main lines: pipeline realization, technological breakthroughs, and valuation recovery, while avoiding highly competitive products like bivalent HPV and traditional rabies vaccines [1] - Key areas of focus include vaccines with high technological barriers, multi-valent options, potential for business development collaborations, and favorable competitive landscapes, such as RSV vaccines [1] Group 2: Company Highlights - **CanSino Biologics**: The DTcP-Hib-MCV4 combination vaccine and inhaled tuberculosis vaccine (5-type adenovirus vector) are in Phase I clinical trials. The quadrivalent meningococcal conjugate vaccine was exported to Indonesia in September, marking a significant achievement post-COVID vaccine exports. The PCV13i vaccine has gained access in over half of China's provinces and started vaccinations in October. Several vaccines are advancing towards commercialization, with multiple NDA applications submitted [2] - **Aimee Vaccine**: The PCV13, PPSV23, and rabies vaccines are in the final stages of market entry. Aimee has 20 vaccines in development, with 15 products having received 23 clinical approvals. The PCV13 has submitted for market registration, and the iterative rabies vaccine is also in the registration process. The PPSV23 has completed Phase III clinical serum testing and is moving towards statistical unblinding [3] - **Clover Biopharmaceuticals**: The respiratory combined vaccine (RSV-hMPV-PIV3) has gained global attention, with positive Phase I clinical trial results in older adults. This vaccine is expected to advance to Phase II trials in the first half of 2026, addressing unmet clinical needs related to RSV and enhancing immune protection through repeat vaccinations [4] Group 3: Investment Recommendations - Suggested stocks in the Hong Kong vaccine sector include CanSino, Clover Biopharmaceuticals-B, and Aimee Vaccine, indicating potential investment opportunities in these companies [4]

记者获悉，从2025年3月设立至今，上海生物医药产业并购基金已完成三单投资，9个月时间已完成34% 投资额。 新华财经上海12月30日电（记者 王淑娟）2025年以来，A股市场并购交易浪潮涌动，并购基金成为一股 关键力量。作为上海市国资基金矩阵中的重要组成部分，上海生物医药产业并购基金备受关注。记者获 悉，从2025年3月设立至今，上海生物医药产业并购基金已完成三单投资，9个月时间已完成34%投资 额。 自2024年9月证监会发布"并购六条"以来，由地方国资或上市公司作为发起方设立的并购基金渐成趋 势。2025年3月，上海生物医药产业并购基金正式宣告成立，首期规模50亿元，由上实集团旗下上实资 本作为基金管理人。 据刘大伟介绍，上海生物医药产业并购基金有三种投资策略，第一类是控股型收购，要拿到公司的控股 权；第二类是做积极主动型投资，通过少数股权投资极大地影响公司董事会，对公司的治理产生重大影 响，改善投资人对公司治理的信心。提升国资股东入股之后，对国资未来发展的预期；第三类是基于管 线与资产进行重组。 在29日举办的"2025地方国资上市公司并购重组与高质量发展论坛暨第42期国资大讲坛（特别专 场）"上，上 ...

Group 1: Industry Overview - The Chinese innovative drug industry is experiencing a significant recovery in 2025, with record high external BD totals and an increase in the number of drug approvals [1][2] - Despite the positive trends, there are concerns about the sustainability of the market, high valuations of some companies, and the potential for structural differentiation in the industry [2][3] Group 2: IPO Market - The IPO market for innovative drug companies has seen a resurgence, with many firms successfully listing on the Hong Kong stock exchange and exceeding fundraising expectations [3][4] - However, the market experienced a downturn in December, with initial public offerings facing challenges such as market sentiment cooling and stricter regulatory scrutiny [4] Group 3: Commercial Insurance and Drug Pricing - The introduction of a commercial insurance directory for innovative drugs aims to address the payment challenges associated with high-priced therapies, with 24 drugs participating in price negotiations [4][5] - The negotiated price reductions for these drugs range from 15% to 50%, but the effectiveness of this new payment model in promoting clinical use remains to be seen [5] Group 4: BD Opportunities and Challenges - The trend of significant BD transactions continues, with companies like 3SBio and Innovent Biologics leading the way, prompting speculation about the next major BD opportunities [6][7] - There is a growing concern about the legal risks associated with BD transactions, as the industry may face an increase in litigation related to these deals [8] Group 5: Future Prospects and Uncertainties - Key questions remain regarding the future of companies like Summit, including potential acquisitions and the performance of their clinical trials [9][10] - The domestic vaccine sector is struggling, with significant declines in stock prices and ongoing challenges related to product differentiation and commercialization [11] - Geopolitical factors continue to pose risks to the innovative drug sector, with ongoing uncertainties regarding regulatory policies and market access [12] Group 6: Unexpected Developments - Some biotech companies have made surprising decisions, such as the acquisition of Lixte Biotechnology by China National Pharmaceutical Group, which deviated from expectations of an independent IPO [13][14] - The sudden dissolution of Run Biotech highlights the high-risk nature of the industry and the challenges of balancing short-term financial returns with long-term innovation [15]

北京作为全国疫苗研发与生产的重要集聚地，拥有8家疫苗生产企业、品种占全国40%以上，生产供应 的疫苗数量居全国首位。记者从市药监局了解到，预计2026年一季度，北京市疫苗检验中心将开始承担 已获授权的京产9种疫苗批签发。 坐落于中关村生命科学园的北京市疫苗检验中心，建筑面积1.6万平方米，拥有疫苗检验所需的病毒疫 苗室、细菌疫苗室、动物实验室、微生物室和综合实验室共5个专业实验室以及配套设施，覆盖京产疫 苗在产品种全部检验项目。该中心可满足每年4000-4500批次的疫苗批签发检验需求，具备未来5-10年 新上市疫苗的批签发检验能力。与此同时，中心还可满足新型疫苗、新型抗体药物、细胞基因治疗产品 等生物新药研发需求，实现对本市生物制品创新研发的全链条质控技术支持。 转自：北京日报客户端 12月26日，北京市疫苗检验中心正式建成并揭牌投用，这也是全国首个疫苗检验单体建设项目。记者从 市药监局了解到，该中心可满足每年4000-4500批次的疫苗批签发检验需求，具备未来5-10年新上市疫 苗的批签发检验能力。 来源：北京日报客户端 ...

Core Viewpoint - The article highlights the low flu vaccine uptake in China, driven by widespread vaccine hesitancy among the population, including healthcare professionals, despite the availability of free vaccines for vulnerable groups [1][6][14]. Group 1: Vaccine Market Dynamics - The three main companies relying on flu vaccine sales in China are Hualan Biological (10.7 billion), Zhonghui Biological (2.6 billion), and Jindike (808 million), with a combined annual sales of approximately 14 billion [3]. - In contrast, the leading flu medication company, Dongyangguang Pharmaceutical, reported annual sales of around 26 billion for its flu drug Oseltamivir [3]. - The article notes a significant disparity between the sales of flu vaccines and flu medications, with the latter being preferred by consumers due to immediate symptom relief [3][13]. Group 2: Reasons for Vaccine Hesitancy - Vaccine hesitancy is attributed to several factors, including doubts about vaccine effectiveness and safety, as well as a lack of awareness regarding the severity of flu [9][10]. - Many individuals, including healthcare workers, express skepticism about the flu vaccine's ability to prevent infection, leading them to rely on medications instead [9][10]. - A study indicated that over half of social media users exhibit flu vaccine hesitancy, primarily due to distrust in vaccine efficacy and safety [10][11]. Group 3: Public Health Implications - The low flu vaccine uptake has resulted in significant public health concerns, with over 200,000 excess deaths related to flu annually in China [14]. - The Chinese flu vaccine uptake rate remains around 3%, which is significantly lower than global averages, highlighting the urgent need for improved public health strategies [14][16]. - Recent initiatives by health authorities aim to enhance vaccine accessibility and encourage healthcare workers to lead by example in promoting flu vaccination [16].

Core Viewpoint - The article highlights the stark contrast between the low sales of flu vaccines and the high sales of flu medications in China, primarily due to widespread vaccine hesitancy among the population, including healthcare professionals [2][10]. Vaccine Market Analysis - The annual sales of flu vaccines from three leading companies in China—Hualan Biological (10.7 billion), Zhonghui Biological (2.6 billion), and Jindike (808 million)—total approximately 1.4 billion, which is only about half of the annual sales of flu medication from Dongyangguang Pharmaceutical, which stands at around 2.6 billion [1][11]. - The flu vaccine uptake in China is extremely low, with a reported vaccination rate of only about 3%, significantly below global averages [11][12]. Vaccine Hesitancy Factors - Vaccine hesitancy is attributed to several factors, including doubts about vaccine safety and effectiveness, the perception that flu vaccines do not prevent infection due to the virus's constant mutation, and a preference for immediate medication over preventive measures [6][8]. - A study indicated that over half of social media users exhibit flu vaccine hesitancy, primarily due to distrust in vaccine efficacy and safety, exacerbated by misinformation [7][8]. Healthcare Professionals' Attitudes - Many healthcare professionals, including doctors, show reluctance to receive flu vaccinations, with some citing personal experiences and a belief in their own immunity as reasons for not vaccinating themselves or their children [3][4][6]. - A significant number of medical staff do not participate in vaccination programs, even when offered for free, indicating a broader issue of vaccine acceptance within the healthcare community [4][5]. Public Health Implications - The low vaccination rates have led to preventable illnesses and deaths, with estimates suggesting over 200,000 excess deaths annually due to flu-related complications in China [11]. - Recent initiatives by health authorities aim to improve vaccination rates by integrating flu vaccine prescriptions into routine medical care and encouraging healthcare workers to lead by example [12].

Core Viewpoint - The price of the domestic varicella-zoster vaccine is being gradually reduced, with a significant price drop of over 66% from 1375 yuan to 464 yuan per dose, which may impact the company's revenue and market dynamics [1][2]. Group 1: Vaccine Pricing and Market Dynamics - Changchun Baike Biological Technology Co., Ltd. has adjusted the price of its varicella-zoster vaccine, reflecting a broader trend of price reductions in the industry to enhance public awareness and accessibility [1]. - The company has previously implemented discount pricing strategies, leading to reduced revenue and increased pressure on its financial performance [1][2]. - The global market features four varicella-zoster vaccines, with only two available in China, indicating a competitive landscape that may influence pricing strategies [1][9]. Group 2: Industry Challenges and Opportunities - The vaccine industry faces challenges such as competition, vaccine hesitancy, and consumer confidence, but long-term growth potential remains due to the low market penetration compared to developed countries [2]. - Public awareness of varicella-zoster disease is low, with a significant portion of the population unaware of the disease, which affects vaccination rates [4][5]. - A study indicated that the vaccination rate among adults aged 40 and older in China is only 0.79%, highlighting a significant opportunity for growth in the market [5]. Group 3: Financial Performance and Sales Trends - In 2023, the company produced 1.3512 million doses of the varicella-zoster vaccine, generating 880 million yuan in revenue, which was a key driver for a 70.3% increase in overall revenue [5]. - However, in 2024, revenue from the vaccine is projected to decline by 71.54% to 251 million yuan, with a significant drop in sales volume and an increase in inventory [5][6]. - The company's financial performance has shown a downward trend, with a 32.64% decrease in revenue and a 53.67% drop in net profit in 2024 compared to the previous year [6][7]. Group 4: Competitive Landscape and Future Strategies - The varicella-zoster vaccine market is becoming increasingly competitive, with GSK's vaccine still holding a significant market share despite a decrease in production [9][10]. - The company plans to enhance vaccine accessibility by integrating vaccination services with clinical medical systems and correcting public misconceptions about the disease [10]. - Baike Biological is also focusing on other vaccine projects, with ongoing clinical trials and new product developments aimed at diversifying its portfolio and improving market position [10].

薪酬审议"被遗忘"，股东监督形同虚设，这家曾市值千亿的疫苗明星企业，正在治理失序与业绩下滑的 双重压力下艰难前行。 近日，云南证监局与深交所相继向沃森生物下发《责令改正措施决定书》与《监管函》，直指公司在 2023年、2024年董事及高管薪酬未履行法定审议程序的违规行为。这一看似低级的程序疏漏，揭开了这 家生物科技公司治理结构背后的深层问题。 01 治理结构松散与监督缺位 根据《上市公司治理准则》第六十条规定，董事薪酬由股东大会决定，高管薪酬由董事会决定。然而， 沃森生物连续两年"忘记"了这一基本公司治理常识。 新质生产力会客厅联合创始发起人袁帅指出，这反映出公司内部治理结构的松散与监督机制的缺位。或 许是管理层对规则重视不足，存在侥幸心理；也可能是公司内部权力制衡失效，缺乏有效的内部监督力 量。 监管函件显示，沃森生物的行为违反了《创业板股票上市规则》及《上市公司自律监管指引》的相关规 定。 云南证监局已对公司采取责令改正的行政监管措施，并将此记录计入证券期货市场诚信档案。深交所也 明确表示，公司行为已违反上市规则多项条款。 实际上，这并非沃森生物首次在治理程序上"踩坑"。自2010年上市以来，该公司在"三 ...