Group 1 - The core viewpoint of the articles highlights the resilience and robust development of Zhifei Biological Products Co., Ltd. in overcoming the adverse effects of the industry's overall downturn in 2024, achieving a revenue of 26.07 billion yuan and a net profit of 2.018 billion yuan, with a comprehensive gross margin of 27.38%, which increased year-on-year [1] - The company has made significant investments in research and development, totaling 1.391 billion yuan in 2024, which accounts for 5.34% of its revenue and 117.68% of its self-developed product revenue, indicating a strong commitment to innovation [1][2] - Over the past five years, the cumulative R&D investment has exceeded 5.1 billion yuan, leading to breakthroughs in various vaccine matrices and the approval of multiple vaccine products, including the quadrivalent influenza virus split vaccine [2] Group 2 - As of the end of 2024, the company has 34 self-developed projects, with 19 in clinical trials or registration stages, showcasing a strong pipeline of innovative products [2] - The company has established long-term collaborations with major pharmaceutical firms such as Merck and GlaxoSmithKline, enhancing its market position and innovation capabilities [4] - Zhifei Biological emphasizes its mission to protect public health through continuous innovation and a dual-driven strategy focusing on technology and market development [4]