1月28日晚间，云南沃森生物技术股份有限公司（以下简称"沃森生物"）发布2025年度业绩预告。公司 预计2025年实现营收24亿元至24.3亿元；归属于上市公司股东的净利润1.6亿元至1.9亿元，同比增长 13%至34%。 对于净利润的增长，沃森生物表示，公司国内疫苗产品收入降幅收窄，趋于平稳，国外疫苗产品收入持 续增长，出口疫苗产品收入较上年同期增长约35%；同时，公司不断强化降本增效等系列管控措施，运 营管理能力持续提升，报告期内归属于上市公司股东的净利润较上年同期增长。 国际化布局的深入推进，为沃森生物海外疫苗业务的增长注入了动力。截至2025年末，沃森生物疫苗产 品已累计出口至24个国家和地区，海外市场覆盖范围持续扩大。其中，公司核心产品23价肺炎疫苗成功 打入拉美市场，填补了公司在该区域市场的空白，为公司带来了稳定的出口增量。 目前，沃森生物的海外业务版图仍在扩张，公司正同步推进30余个国际产品注册项目，覆盖全球约20个 国家，涵盖肺炎疫苗、HPV疫苗等多款核心产品，为后续海外收入持续增长筑牢基底。 海南博鳌医疗科技有限公司总经理邓之东对《证券日报》记者表示："当前全球疫苗市场正处于结构优 化期，发 ...

Policy Developments - The 11th batch of national drug centralized procurement opened for bidding on October 27, involving 55 varieties across fields such as anti-infection and anti-tumor drugs. The procurement rules have been optimized to ensure clinical stability, quality assurance, and to prevent price collusion [1] Drug and Device Approvals - China Medical's subsidiary, Keyi Pharmaceutical, received a drug registration certificate for Fusidic Acid Cream, which is used for skin infections caused by Staphylococcus and Streptococcus. The drug has a projected domestic sales of approximately 500 million yuan in 2023 and 524 million yuan in 2024 [2] - Watson Bio's mRNA vaccine for respiratory syncytial virus has received clinical trial approval from the National Medical Products Administration. This vaccine is developed to prevent lower respiratory tract diseases caused by the virus, with no similar products approved in China yet [3] Financial Reports - Heng Rui Medicine reported a 25% year-on-year increase in net profit for the first three quarters of 2025, with total revenue of 23.188 billion yuan, a 14.85% increase [4] - Yiling Pharmaceutical reported a significant 80.33% year-on-year increase in net profit for the first three quarters of 2025, despite a 7.82% decline in total revenue [5] Capital Market Activities - Novartis signed a strategic cooperation agreement with Kangzhe Pharmaceutical for the exclusive import and commercial promotion of two ophthalmic drugs in China, effective from November 1, 2025. This agreement aligns with Novartis's strategy to focus on four core therapeutic areas [6][7] Industry Developments - The first biomanufacturing industry fund in Shanghai has been established, aiming to integrate resources from enterprises, universities, and research institutions to promote technological breakthroughs and business growth [9] Regulatory Issues - The Hunan Provincial Commission for Discipline Inspection reported on 15 cases of local officials interfering in hospital engineering and drug procurement, highlighting ongoing issues of corruption and misconduct in the healthcare sector [10]

Group 1 - Watson Bio has received approval from the National Medical Products Administration for a clinical trial of its respiratory syncytial virus mRNA vaccine, developed in collaboration with Fudan University and other partners [1] - The approval allows for clinical trials aimed at preventing lower respiratory tract diseases caused by respiratory syncytial virus, with a validity period of three years for the trial implementation [1] - As of the first half of 2025, Watson Bio's revenue composition shows that self-developed vaccines account for 94.82%, intermediate product revenue for 4.67%, and other business segments for 0.50% [1] Group 2 - The company has a market capitalization of 18.1 billion yuan [1]

证券日报网讯10月27日晚间，沃森生物（300142）发布公告称，公司、复旦大学、上海蓝鹊生物医药有 限公司及公司子公司玉溪沃森生物技术有限公司、北京沃森创新生物技术有限公司联合研发并共同申请 临床试验的呼吸道合胞病毒mRNA疫苗，于近日获得国家药品监督管理局签发的《药物临床试验批准通 知书》。 ...

Core Insights - Watson Bio has received approval from the National Medical Products Administration for a clinical trial of its mRNA vaccine targeting respiratory syncytial virus (RSV) [1][2] Group 1: Clinical Trial Approval - The clinical trial approval notification for the RSV mRNA vaccine was issued with the registration numbers 2025LP02790 and 2025LP02791 [1] - The vaccine is classified as a preventive biological product and aims to prevent lower respiratory tract diseases caused by RSV infection [1] Group 2: Vaccine Development - The vaccine is developed through a collaboration between Watson Bio, Fudan University, and Blue Magpie Biopharmaceuticals, utilizing a self-established mRNA vaccine technology platform [2] - The vaccine design is based on a highly conserved sequence of the RSV-A strain F protein, incorporating various mutations for optimized antigen expression [2]

Core Viewpoint - Watson Bio has received clinical trial approval for its respiratory syncytial virus mRNA vaccine, developed in collaboration with Fudan University and Shanghai Bluebird Biopharmaceuticals, marking a significant step in the company's vaccine development efforts [1] Group 1: Vaccine Development - The mRNA vaccine is based on an independently developed mRNA vaccine technology platform aimed at preventing lower respiratory tract diseases caused by respiratory syncytial virus infections [1] - Currently, there are three respiratory syncytial virus vaccines available in foreign markets, while no similar products have been approved in China [1] Group 2: Clinical Trial and Market Impact - The vaccine has been approved to enter clinical trials; however, it is noted that this approval will not significantly impact the company's performance for the current fiscal year [1] - There remains uncertainty regarding the results of the subsequent confirmatory Phase III clinical trials and the drug application for market approval [1]

Core Viewpoint - Watson Bio (300142) is focusing on mRNA technology platform, synthetic biology manufacturing, microecological health, and functional nutrition intervention as key areas for development [1] Group 1: Business Developments - The company has submitted clinical trial applications for respiratory syncytial virus mRNA vaccine and lyophilized varicella-zoster virus mRNA vaccine to the National Medical Products Administration, which have been accepted [1] - Ongoing developments in synthetic biology manufacturing, microecological health, and functional nutrition intervention are being actively pursued [1] Group 2: Future Outlook - Investors are encouraged to keep an eye on the company's information disclosures for updates on the progress of various business initiatives [1]

Core Viewpoint - Watson Bio emphasizes the broad application prospects of mRNA technology, highlighting its advantages such as shorter R&D cycles, rapid iteration, and high efficacy [1] Company Developments - The company has been actively developing mRNA vaccines in collaboration with partners, gradually building and solidifying its mRNA vaccine technology platform over the past few years [1] - Recently, Watson Bio submitted clinical trial applications for respiratory syncytial virus mRNA vaccine and lyophilized varicella-zoster virus mRNA vaccine to the National Medical Products Administration, which has accepted these applications [1] Investment and Financial Impact - Watson Bio holds shares in Hong Kong-listed companies Saint No Pharmaceutical and Jiahe Biotech, with the impact on its net profit and related indicators being influenced by the stock price fluctuations of these companies [1]

Group 1 - The company Watson Bio is developing an mRNA vaccine for respiratory syncytial virus (RSV) in collaboration with partners [2] - The clinical research application for the RSV vaccine has been accepted as of August 2025 and is currently in the technical review stage [2]

Group 1: Machinery Industry - In July 2025, excavator sales in China exceeded expectations, with total sales reaching 17,138 units, a year-on-year increase of 25.2% [2] - Domestic sales accounted for 7,306 units, up 17.2%, while exports reached 9,832 units, marking a 31.9% increase [2] - The cumulative sales from January to July 2025 were 137,658 units, reflecting a 17.8% year-on-year growth, with domestic sales increasing by 22.3% [2] - The growth in domestic sales was attributed to accelerated exports of second-hand machines and the commencement of hydropower projects [2] - The semiconductor equipment sector saw global sales of $59.91 billion in June, a 19.6% year-on-year increase, driven by improved demand from consumer electronics and AI-related chips [3] - Japan's semiconductor manufacturing equipment shipments reached approximately 404.59 billion yen, up 17.6% year-on-year, indicating strong downstream demand [3] - The machinery industry maintains a "buy" rating, with a focus on companies benefiting from domestic demand recovery and strong export growth [5] Group 2: Real Estate Industry - Beijing's recent policy changes include the cancellation of purchase restrictions outside the Fifth Ring Road and enhanced support for public housing loans [7] - The new policy allows local families and single individuals to purchase unlimited properties outside the Fifth Ring Road, which is expected to stimulate demand [7] - In July 2025, new home sales in Beijing dropped by 31% year-on-year, indicating a need for policy adjustments to stabilize the market [9] - The real estate sector maintains a "buy" rating, with recommendations for leading developers with strong land acquisition capabilities and real estate agencies benefiting from increased second-hand home transactions [10] Group 3: Food and Beverage Industry - The food and beverage sector saw a 0.63% increase from August 4 to August 8, 2025, underperforming compared to the broader market indices [12] - The Consumer Price Index (CPI) for July 2025 remained flat year-on-year, with food prices decreasing by 1.6% [14] - The launch of a high-end product by Kweichow Moutai sold out within two minutes, indicating strong consumer interest in premium products [15] - The food and beverage industry maintains a "buy" rating, focusing on companies with stable demand and innovative product offerings [16] Group 4: Pharmaceutical Industry - Recent advancements in vaccine development include the acceptance of clinical trial applications for an mRNA vaccine targeting respiratory syncytial virus by Watson Bio [18] - The first phase of clinical trials for China's first HIV vaccine using the Tian Tan strain has been successfully completed, marking significant progress in vaccine research [19] - Pfizer reported a 10% year-on-year revenue increase in Q2 2025, driven by strong sales of its COVID-19 products [19] - The pharmaceutical industry maintains an "overweight" rating, with a focus on companies innovating in vaccine technology and expanding into international markets [23]