Core Insights - Kanghua Biotech reported a significant decline in revenue and net profit for the first three quarters of 2025, with revenue at 840 million yuan, down 20.78% year-on-year, and net profit at 189 million yuan, down 53.41% [1] Financial Performance - The company's revenue, excluding last year's one-time overseas licensing income from the six-valent Norovirus vaccine, decreased by 11.96% compared to the same period last year [1] - Sales revenue from non-immunization program vaccines also saw a decline of 11.97% year-on-year [1] - Net profit for the year-to-date period fell by 40.08% compared to the previous year [1]