证券研究报告 2025 年 08 月 24 日 湘财证券研究所 行业研究 疫苗行业周报 6 家疫苗企业发布中报，关注中报业绩表现 相关研究： 1. 《疫苗领域创新突破 国内外 进展显著》20250810 2. 《首款疫苗产品通过商保创 新药目录审查，有望开辟创新疫 苗新支付通道》20250817 行业评级：增持（维持） 近十二个月行业表现 -10 0 10 20 30 40 24/08 24/11 25/02 25/05 沪深300_累计 疫苗_累计 | % | 1 个月 | 3 个月 | 12 个月 | | --- | --- | --- | --- | | 相对收益 | -1 | 3 | -12 | | 绝对收益 | 5 | 17 | 20 | 注：相对收益与沪深 300 相比 分析师：许雯 证书编号：S0500517110001 Tel：021-50293534 Email：xw3315@xcsc.com 地址：上海市浦东新区银城路88号 中国人寿金融中心10楼 核心要点： 国内外疫苗动态 （1）国药集团中国生物武汉生物制品研究所研制的口服六价重配轮状病毒减 毒活疫苗（Vero 细胞）正式获得国家药品监 ...

Core Viewpoint - Kangtai Biological (300601) has received approval from the National Medical Products Administration for clinical trials of its trivalent influenza virus split vaccine, indicating a significant advancement in its product pipeline [1] Company Summary - The trivalent influenza virus split vaccine is developed in collaboration with Lanzhou Bailing Biotechnology Co., Ltd. [1] - The vaccine is intended for individuals aged 3 years and older, aiming to stimulate the immune system to produce antibodies against influenza viruses [1] Industry Summary - The approval for clinical trials reflects ongoing efforts in the biopharmaceutical industry to enhance vaccine development, particularly in response to seasonal influenza outbreaks [1]

康泰生物8月18日晚间发布公告称，深圳康泰生物制品股份有限公司关于三价流感病毒裂解疫苗获得药 物临床试验批准通知书的公告。公司和兰州百灵生物技术有限公司研发的三价流感病毒裂解疫苗 （MDCK细胞）近日获得国家药品监督管理局出具的《药物临床试验批准通知书》，根据《中华人民共 和国药品管理法》《中华人民共和国疫苗管理法》及有关规定，经审查，本品符合药品注册的有关要 求，同意本品进行临床试验。 （文章来源：每日经济新闻） ...

Core Viewpoint - Kangtai Biological (300601.SZ) has received approval from the National Medical Products Administration for its trivalent influenza virus split vaccine (MDCK cell) for clinical trials, marking a significant step in its vaccine development efforts [1] Company Summary - The trivalent influenza virus split vaccine is designed for individuals aged 3 years and older, aiming to stimulate the immune system to produce antibodies against influenza viruses [1] - This vaccine is intended for the prevention of influenza caused by vaccine-related strains of the virus [1] - Currently, there are no approved trivalent influenza virus split vaccines (MDCK cell) available in the domestic market [1] Industry Summary - The approval of this vaccine follows the precedent set by international manufacturers such as Seqirus, which have successfully launched MDCK cell-based influenza vaccines [1] - The development of this vaccine could enhance the competitive landscape of influenza prevention in the domestic market [1]

康泰生物公告，近日公司和兰州百灵生物技术有限公司研发的三价流感病毒裂解疫苗（MDCK细胞）获 得国家药品监督管理局出具的《药物临床试验批准通知书》。该疫苗适用于3周岁及以上人群，可刺激 机体产生抗流感病毒的免疫力，用于预防疫苗相关型别的流感病毒引起的流行性感冒。公司将尽快开展 相关临床试验工作。若该疫苗研发成功，将有利于进一步丰富公司产品布局，增强公司的核心竞争力和 市场地位。 ...

Group 1 - China Energy Construction won a major coal-fired power project with a bid amount of approximately 14.586 billion yuan, involving six 660 MW supercritical coal-fired generating units and supporting environmental facilities, with a total construction period of about 36.5 months [1] - Taiji Industry plans to repurchase company shares with a total amount not less than 1 billion yuan and not exceeding 1.2 billion yuan, with a maximum repurchase price of 10.38 yuan per share [1] - Youxun Technology won a project from State Grid with a bid amount of approximately 176 million yuan, accounting for 17.44% of the company's audited revenue for 2024 [2] Group 2 - Daili New Materials established an investment fund with a total subscribed capital of 163.3 million yuan, with Daili contributing 10 million yuan, accounting for 6.12% of the fund [4] - Wanyi Technology received a government subsidy of 2.3475 million yuan, which has been confirmed and classified according to relevant accounting standards [6] - Anke Biotech received a drug registration certificate for Acetate Atosiban Injection, which is used for treating preterm labor [7] Group 3 - Renfu Pharmaceutical received a drug registration certificate for Progesterone Soft Capsules, which are used to treat functional disorders caused by progesterone deficiency [9] - Linyang Energy is a recommended candidate for a major contract with State Grid, with a total expected bid amount of approximately 165 million yuan [11] - Hongtian Technology plans to invest 200 million to 300 million yuan to establish a wholly-owned subsidiary in Gansu Province [28] Group 4 - Hunan Xiang Electric received a total of 40 million yuan in government subsidies, which accounts for 16.07% of the company's audited net profit for 2024 [44] - Nengke Technology plans to repurchase shares with a total amount not less than 10 million yuan and not exceeding 20 million yuan, with a maximum repurchase price of 43.00 yuan per share [46] - Xiamen XGMA received 10 million yuan in historical debt repayment, which is expected to increase the company's net profit for 2025 by 3.186 million yuan [48]