华兰生物疫苗股份有限公司投资者关系活动记录表 编号：20250827 证券代码：301207 证券简称：华兰疫苗 | | □特定对象调研 分析师会议 | | --- | --- | | 投资者关 | □媒体采访 □业绩说明会 | | 系活动类 | □新闻发布会 □路演活动 | | 别 | □现场参观 | | | ☑ 其他：线上会议 | | | 国泰海通郑琴、谈嘉程、彭娉，国联民生陈翠琼、开源证券阮帅、Huagai | | | Xincheng Healthcare Investment Holdings Limited 罗英、东吴证券邹行 | | | 健、华泰证券许泽昊、西藏合众易晟投资管理有限责任公司张友彬、广发证 | | | 券姚铁睿、天风证券张中华、中邮医药岑峻宇、盛丽华，爱建证券章孝林、 | | | 招商自营邱捷铭、宏利基金赵岩、西部证券徐子悦、华安医药李雨涵、长盛 | | | 基金洪靖怡、中金公司全芳、中信建投刘若飞、国盛证券王彦迪、兴业证券 | | | 高尹伟业、China Shandong Hi-Speed Capital Limited 崔硕、深圳市尚诚 | | | 资产管理有限责任公司黄向 ...

Core Viewpoint - The vaccine industry is currently facing multiple challenges, including weak market demand, declining public vaccination willingness, intensified price competition, and policy adjustments, leading to widespread performance pressure among domestic and international vaccine companies [1][2]. Group 1: Company Performance - Zhifei Biological's mid-year report shows a significant revenue decline, with a net loss of 597 million yuan, a shift from profit to loss year-on-year [1]. - The company has invested over 5.1 billion yuan in R&D over the past five years, with R&D expenditure reaching 635 million yuan in the first half of this year, an increase compared to the previous year [2]. Group 2: Market Dynamics - The competitive landscape is intensifying, particularly among leading companies in popular vaccine categories, with domestic alternatives like Wantai Biological's HPV vaccine priced at 499 yuan, only 40% of the price of Zhifei's previously popular HPV vaccine [1]. - The biopharmaceutical industry is transitioning from a post-pandemic adjustment phase to a structural growth phase, driven by technological breakthroughs, pipeline advancements, and internationalization [2]. Group 3: Innovation and Collaboration - The company is focusing on technological innovation to navigate the current market challenges, with several projects in clinical trials and registration stages, including vaccines for rabies, influenza, and pneumonia [2]. - Zhifei is optimizing its supply chain and collaborating closely with partners like GSK and Merck to adapt to market changes and enhance supply chain resilience [3]. Group 4: Market Outlook - The recent launch of a higher-standard quadrivalent influenza vaccine has begun commercial rollout, with successful entry into multiple provinces, indicating a positive market outlook [3]. - Analysts predict a new wave of data catalysts in China's biopharmaceutical sector, enhancing the global competitiveness of innovative drug products and improving the outlook for innovation-driven companies [3].