Core Viewpoint - Green Bamboo Bio-B (02480) announced that its core product LZ901 demonstrated superior cellular immunogenicity and safety compared to GSK's Shingrix® in a head-to-head clinical trial for adults aged 50 and above [1] Market Reaction - Following the announcement, Green Bamboo Bio's stock rose over 8% on August 18 and 19, reaching a peak price of 28 HKD, the highest in 15 months [1] - Despite the positive news, trading volume remains low, with 11 months in the past 21 recording less than 200,000 shares traded [1] Financial Performance - For the first half of 2025, the company reported zero revenue from product commercialization, with other income at 4.85 million RMB, a 50.2% decrease from the previous year [2][3] - The net loss narrowed to 77.57 million RMB, a 29.4% reduction year-on-year, while R&D expenses decreased by 37.5% to 5.03 million RMB [2][4] Clinical Data and Product Potential - LZ901 showed a CD4⁺ T cell response rate of 83.0% and a CD8⁺ T cell response rate of 46.8%, significantly outperforming Shingrix® [4] - The adverse reaction rate for LZ901 was 41.1%, much lower than Shingrix®'s 87.9%, indicating a strong safety profile [4][5] Market Challenges - The market for shingles vaccines is expected to grow to 12.6 billion USD by 2030, driven by an aging population and increasing awareness [8] - However, the penetration rate of shingles vaccines in China remains low due to weak public awareness and high prices [8][9] Competitive Landscape - Currently, the shingles vaccine market is dominated by GSK's Shingrix, with a significant drop in domestic approvals for shingles vaccines [9] - Green Bamboo Bio plans to price LZ901 between 500 to 800 RMB per dose, potentially impacting initial commercialization profits [9]