登录新浪财经APP 搜索【信披】查看更多考评等级 【导读】金迪克总经理张建辉因病逝世，享年67岁 中国基金报记者 晨曦 9月10日晚间，金迪克发布公告称，收到公司总经理张建辉家属通知，张建辉因病于近日不幸逝世，享年67岁。 金迪克称，张建辉自2015年起一直为公司或公司前身江苏金迪克生物技术有限公司的主要股东之一，并于2023年10月被聘任为公司总经理。张建辉长期伴 随并支持公司发展壮大，在担任公司总经理期间，勤勉尽责、恪尽职守，认真履行了作为公司高级管理人员应尽的责任和义务，为公司经营发展做出了重 要贡献。 金迪克董事会、监事会、高级管理人员及全体员工对张建辉为公司所做的努力和贡献深表感谢，对张建辉的逝世致以沉痛哀悼，并向其家属致以深切慰 问。 截至该公告披露日，张建辉持有金迪克股份568万余股，占总股本的4.61%。2025年中报显示，张建辉为金迪克第三大股东。 | 序号 | 股东名称 | | 持股数量(股) | 占总股本比例(%) | | --- | --- | --- | --- | --- | | 1 | 张良斌 (1) (2) 实控人 | 董监高 | 37,869,008 | 30.74 | | ...

Core Viewpoint - Zhonghui Yuantong Biotech has submitted its application for listing on the Hong Kong Stock Exchange, reporting an increase in revenue due to the commercialization of its main product, but the company remains in a loss position with ongoing financial pressures [1][4]. Financial Performance - The company reported revenues of 0.5 million yuan, 2.6 million yuan, and 41.3 thousand yuan for the years 2023, 2024, and the first three months of 2025, respectively, with a significant increase in 2024 attributed to the approval of its core product [9]. - Despite the revenue increase, the company reported net losses of 4.25 billion yuan, 2.6 billion yuan, and 870 million yuan for the same periods, primarily due to high R&D and sales expenses [9]. Product Overview - Zhonghui Yuantong Biotech has 13 product lines, with the quadrivalent influenza virus subunit vaccine being the only product that has been commercialized [7]. - The quadrivalent influenza vaccine is priced at 319 yuan, significantly higher than competitors' products, which have been priced as low as 100 yuan [8]. Market Competition - The influenza vaccine market is highly competitive, with 25 types of vaccines currently available in China, including 13 trivalent and 12 quadrivalent vaccines [8]. - The company faces challenges in gaining market acceptance for its higher-priced vaccine amid a recent price war among traditional vaccine manufacturers [8]. Cash Flow and Receivables - The company has a high level of accounts receivable, with trade receivables of 2.8 billion yuan and 2.2 billion yuan for 2024 and the first quarter of 2025, respectively, which exceeds its total revenue [10]. - The average collection period for accounts receivable is 252.1 days, significantly longer than the industry average of 112 days [10]. Funding and Financial Strain - Zhonghui Yuantong Biotech has undergone multiple rounds of financing and has relied heavily on bank loans, accumulating 3.8 billion yuan in new bank loans in 2023 and 7.7 billion yuan in 2024 [12]. - The company's financial expenses have increased significantly, with 2024 expenses reaching 17.71 million yuan, a 168% increase year-on-year [12]. Strategic Decisions - The company previously planned to list on the A-share market in 2021 but withdrew its application, citing the active fundraising environment in the Hong Kong biotech sector and strategic considerations for future international market opportunities [13].

Core Viewpoint - The vaccine industry is undergoing significant adjustments, and the company is focusing on high R&D investment, risk mitigation, and diversified business layout to navigate through the industry volatility and share in the market recovery benefits [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 26.07 billion yuan and a net profit attributable to shareholders of 2.018 billion yuan; in Q1 2025, the operating revenue was 2.374 billion yuan [2]. - The company's self-developed product revenue reached 1.182 billion yuan in 2024, a year-on-year increase of 14.98%; the net cash flow from operating activities in Q1 2025 was 304 million yuan, up 107.12% year-on-year [3]. - The accounts receivable balance decreased from 27.059 billion yuan at the beginning of 2024 to 14.645 billion yuan in Q1 2025, addressing a common industry issue [3]. R&D Investment and Product Pipeline - The company invested 1.391 billion yuan in R&D in 2024, with the number of R&D personnel increasing to 1,072, and cumulative R&D investment exceeding 5.1 billion yuan over the past five years [3]. - Significant progress has been made in self-developed pipelines, including the approval of the quadrivalent influenza virus split vaccine and the acceptance of production registration applications for the freeze-dried human rabies vaccine and trivalent influenza virus split vaccine [3][4]. Market Strategy and Risk Mitigation - The company has optimized its strategic cooperation with GlaxoSmithKline (GSK) to enhance flexibility in procurement and supply of the shingles vaccine, extending exclusive rights until the end of 2034 [5][6]. - Adjustments in collaboration with Merck have been made to phase the delivery schedule based on consumer demand, improving supply chain efficiency and risk resilience [6]. - The company has taken significant steps to gain control over Chanan Bio, expanding its pipeline in GLP-1 and insulin analogs to mitigate single-business risks [6][7]. Global Expansion - The company is actively pursuing overseas clinical trials and registrations, with products like the tuberculosis diagnostic reagent "Yika" approved in Indonesia and the 23-valent pneumonia vaccine receiving GMP certification in the Philippines [7].

智飞生物（300122）2024年度克服行业整体景气周期下行的不利影响，展现出坚韧不拔的经营韧性和稳健的发展态势——公司2024年实现营业收入260.70 亿元、实现归母净利润20.18亿元，继续保持较高水平；当期综合毛利率27.38%，同比逆势走高。 值得指出的是，2024年智飞生物研发投入高达13.91亿元，占营业收入的5.34%，占自主产品营业收入的比例高达117.68%；期末研发人员数量进一步提升 至1072人，无论是研发投入规模还是研发人员总数均创新高，充分展现出公司在研发方面的决心和担当。 必须看到，研发创新正持续为智飞生物守护大众健康注入强劲动力，并引领生物制药行业迈向新高度。 在市场拓展方面，智飞早已赢得了包括默沙东和葛兰素史克的青睐与长期合作，"硬实力"不断成为其创新驱动可持续发展的鲜明底色。 事实上，最近五年智飞生物累计研发投入已突破51亿元。高强度的研发投入正为公司带来源源不断的管线突破：截至2024年末，公司自主研发项目共计34 项(不含新冠系列项目)，其中处于临床试验及申请注册阶段的项目已有19项。2024年以来，公司在肺炎疫苗矩阵、流脑疫苗矩阵、肠道疫苗矩阵、成人疫 苗矩阵等多个关 ...