康乐卫士发行费用总额为2,737.59万元（超额配售选择权行使前）；3,008.02万元（若超额配售选 择权全额行使后），其中中信证券、国信证券获得承销保荐费1,902.83万元（超额配售选择权行使 前）；2,173.25万元（超额配售选择权全额行使后）。 2023年5月17日，康乐卫士公告分红方案，每10股转增10股，除权除息日为2023年5月26日。 中国经济网北京10月9日讯 康乐卫士(920575.BJ)今日收报12.27元，跌幅5.54%。目前该股处于破 发状态。 康乐卫士在北交所发行数量7,000,000股（不含超额配售选择权）；8,050,000股（全额行使超额配 售选择权后），保荐机构（主承销商）为中信证券股份有限公司，保荐代表人胡朝峰、赵洞天，联席主 承销商为国信证券股份有限公司。 康乐卫士于2023年3月15日在北交所上市，发行价为42.00元，该股上市首日开盘破发，截至收盘 报35.52元，跌幅15.43%。 超额配售选择权行使前，康乐卫士募集资金总额为29,400.00万元，扣除发行费用2,737.59万元 （不含增值税）后，募集资金净额为26,662.41万元。公司募集资金净额比原计 ...

致敬所有为消除宫颈癌而努力的人。 文 ｜ 于精京 编辑 ｜ 方婷 封面来源 ｜ Unsplash "天价"HPV疫苗时代 当"HPV疫苗免费"消息一出，很多人的感受是："太好了，终于来了！"以及"怎么才来？" 最直接的原因很简单：价格。 2021年双十一前后，某电商平台HPV九价疫苗套餐的价格显示： 3针疫苗6300元，折合下来一针2100元。 地球上每两分钟就有一名妇女因宫颈癌死亡。 在中国，仅2022年就有15.6万新发宫颈癌病例，近6万人因此失去生命，约占全球总数的20%。 幸运的是，宫颈癌已经是一个且唯一一个能通过疫苗来预防的癌症， 这个疫苗就是我们常说的HPV疫苗。 请观看36氪原创视频 也欢迎关注36氪视频号 即便价格如此昂贵，HPV疫苗套餐还是供不应求。很多时候在网上抢到了疫苗套餐，但到了指定的医院，护士也会告诉你：没苗了。 作为世界卫生组织最建议接种、预防效果最好的9-14岁年龄段女孩， 2022年，中国的首针接种率只有4%，而全球同龄段的平均接种率是61.6%。 这一年， HPV疫苗其实已经面世16年了。 2006年，默沙东的HPV疫苗在美国上市，但要想引进中国，得先拿到我们自己的临床数据。 ...

Core Insights - China National Pharmaceutical Group's subsidiary, China Biological Products, has received approval for its quadrivalent HPV vaccine "Aiweijia," marking a significant milestone as China becomes one of the few countries capable of independently developing such vaccines [2] - The vaccine offers protection against low-risk HPV types 6 and 11, addressing the limitations of existing domestic bivalent vaccines that only cover high-risk types 16 and 18 [2] - Phase III clinical trials show that "Aiweijia" has a 100% efficacy rate in preventing cervical CIN2 and above lesions, with safety and effectiveness validated [2] Industry Overview - Cervical cancer is the second deadliest female reproductive cancer, with nearly 600,000 new cases and approximately 300,000 deaths globally each year, primarily linked to HPV infections [3] - The global HPV vaccine market was valued at $6 billion in 2021, with Merck leading the market with $5.673 billion in revenue [7] - The HPV vaccine market is projected to grow at an annual rate of 8%, potentially reaching nearly $10 billion by 2027 [8] Competitive Landscape - Domestic HPV vaccines from companies like Wantai Biological Pharmacy and Watson Biotech have broken the import monopoly, offering lower prices and sufficient supply [9] - The first domestic nine-valent HPV vaccine is expected to be approved by 2025, positioning China as the second country to supply this vaccine independently [9] - The National Health Commission's inclusion of HPV vaccines in the national immunization program is anticipated to increase vaccination rates significantly [11]

（原标题：HPV疫苗免费接种落地，宫颈癌"无痛"筛查如何补位？） 21世纪经济报道 记者闫硕 宫颈癌是常见的妇科恶性肿瘤之一, 也是中低收入国家女性癌症死亡的主要原因。而高危型人乳头瘤病 毒（HPV）持续感染是引起宫颈癌的主要病因。 研究显示，70%以上高级别子宫颈上皮内病变和宫颈癌与HPV16、18相关。我国女性高危型HPV（HR- HPV）感染率为12.1%，最常见的型别包括HPV52、58、53、16、51。我国女性HPV感染有两个高峰， 分别为17~24岁和40~44岁。 近日，国务院新闻办宣布HPV疫苗正式纳入国家免疫规划，为适龄女生免费接种。政策的落地提升了社 会对宫颈癌防控的关注，但也伴随新的挑战：疫苗覆盖型别有限，且预防性疫苗主要针对尚未感染病毒 的年轻女性，其降低宫颈癌发病率的群体效应往往需要十年甚至二十年以上才能体现。 目前35-64岁女性仍是宫颈癌的高风险人群，仅依赖疫苗难以在短期内缓解疾病负担，因此筛查在现阶 段具有不可替代的重要意义。 在具体的筛查方案中，自取样技术经过20多年的研究已被全球广泛认可，是提升筛查覆盖率的有效方式 之一。比如，尿液检测具有无创、便捷、易于女性接受等优势， ...

证券代码：300122 证券简称：智飞生物 重庆智飞生物制品股份有限公司 3、CA111 注射液获得临床试验批准，大概什么时候能够上 市销售产生效益？ 答：您好，公司控股子公司宸安生物研制的 CA111 注射液 是一款葡萄糖依赖性胰岛素释放肽受体和胰高血糖素样肽-1 受 体的双重激动剂，于近期获得国家药品监督管理局药物临床试验 批准通知书。药品的研发和行政审批主要有以下几个阶段：临床 前研究；申请临床试验；开展临床试验；申请生产文号；上市销 售。公司将根据研发进展情况及时履行信息披露义务。谢谢！ 4、代理进口疫苗打就送的活动，对去库存有效果如何？ 答：您好，公司积极响应政府号召参加惠民项目，提高民众 对疾病预防的知晓率，促进提升民众接种意愿。公司经营业绩及 财务数据请持续关注公司的定期报告。谢谢！ 5、智飞生物正处在一个关键的转型期：从"超级代理商"向 "研发市场"双轮驱动的创新型疫苗企业转变。但是公司的很多新 的产品都还没有能够正式产生效益，当前业绩亏损较大，股价跌 幅也很大，三季度业绩会不会有所提升？ 答：您好，公司经营业绩及财务数据请持续关注公司的定期 报告。公司已建立北京、安徽、重庆三大研产基地及一个 ...

来源：市场资讯 （来源：动脉新医药） 编者按： 全球视野下的跨国药企深度洞察——创新、博弈与中国答卷 在全球医药产业发展的宏大叙事中，跨国药企始终扮演着关键角色——他们既是科学前沿的探索者，也 是大多市场规则的塑造者，更是各国医疗生态的重要参与者。从FDA到EMA再到NMPA ，从成熟市场 到新兴市场，跨国药企的战略抉择不仅关乎企业自身的兴衰，更深刻影响着全球患者的健康福祉。而在 这一版图中，中国市场也正从"可选项"到"必选项"再升级为"决胜场"，其独特的政策环境、临床需求和 创新潜力，为跨国药企提供了前所未有的机遇与挑战。 我们拟打造《跨国药企洞察》栏目，致力于以全球视野观察跨国药企的发展逻辑，既关注MNC巨头的 顶层战略——辉瑞如何平衡新冠红利后的增长焦虑，强生怎样通过拆分重塑竞争力；也聚焦区域市场的 关键战役——中国医保谈判中的定价艺术，ADC领域中日韩创新药企的竞合博弈；更试图揭示行业本 质问题：在细胞与基因治疗、GLP-1等颠覆性技术浪潮下，未来诸多面临"专利断崖"的跨国药企护城河 是正在加固还是被瓦解？ 与此同时，中国篇章亦无疑是这一洞察的核心维度。无论是将中国纳入全球早期研发体系，还是以"中 国 ...

中国经济网北京9月23日讯 康乐卫士(833575.BJ)今日收报12.98元，跌幅11.76%，总市值36.47亿 元。目前该股处于破发状态。 康乐卫士于2023年3月15日在北交所上市，发行价为42.00元，该股上市首日开盘破发，截至收盘报 35.52元，跌幅15.43%。 康乐卫士在北交所发行数量7,000,000股（不含超额配售选择权）；8,050,000股（全额行使超额配售 选择权后），保荐机构（主承销商）为中信证券股份有限公司，保荐代表人胡朝峰、赵洞天，联席主承 销商为国信证券股份有限公司。 超额配售选择权行使前，康乐卫士募集资金总额为29,400.00万元，扣除发行费用2,737.59万元（不 含增值税）后，募集资金净额为26,662.41万元。公司募集资金净额比原计划少3,337.59万元。2023年2月 28日公司招股书显示，康乐卫士拟募集资金30,000.00万元，用于HPV疫苗研发项目、昆明生产基地代建 回购项目。 康乐卫士发行费用总额为2,737.59万元（超额配售选择权行使前）；3,008.02万元（若超额配售选择 权全额行使后），其中中信证券、国信证券获得承销保荐费1,902.83 ...

超额配售选择权行使前，康乐卫士募集资金总额为29,400.00万元，扣除发行费用2,737.59万元(不含增值 税)后，募集资金净额为26,662.41万元。公司募集资金净额比原计划少3,337.59万元。2023年2月28日公 司招股书显示，康乐卫士拟募集资金30,000.00万元，用于HPV疫苗研发项目、昆明生产基地代建回购项 目。 康乐卫士发行费用总额为2,737.59万元(超额配售选择权行使前)；3,008.02万元(若超额配售选择权全额行 使后)，其中中信证券、国信证券获得承销保荐费1,902.83万元(超额配售选择权行使前)；2,173.25万元 (超额配售选择权全额行使后)。 中国经济网北京9月22日讯康乐卫士(833575.BJ)今日股价截至收盘报14.71元，跌幅6.9%。目前该股处于 破发状态。 康乐卫士于2023年3月15日在北交所上市，发行价为42.00元，该股上市首日开盘破发，截至收盘报35.52 元，跌幅15.43%。 康乐卫士在北交所发行数量7,000,000股(不含超额配售选择权)；8,050,000股(全额行使超额配售选择权 后)，保荐机构(主承销商)为中信证券股份有限公司， ...

Core Viewpoint - Zhifei Biological, once thriving on the agency of Merck's HPV vaccine, is now facing multiple challenges including high inventory, difficult receivables, and transformation issues, resulting in its worst interim performance since its listing in 2010 [2][3]. Financial Performance - In the first half of 2025, Zhifei Biological reported revenue of 4.919 billion yuan, a year-on-year decline of 73.06%. The net profit attributable to shareholders was a loss of 599 million yuan, a year-on-year decrease of 126.72%, marking the first half-year loss since the company's listing [3][5]. - The company has been in a continuous loss state for four consecutive quarters [5]. Business Model Challenges - The "agency + self-developed" business model has revealed several risks amid industry fluctuations. The agency business is heavily reliant on upstream suppliers, and any changes in their strategies can directly impact performance. Additionally, the long development cycle and high investment in self-developed products pose risks of product shortages if new products are not timely launched [7]. - Balancing agency introduction and self-development is crucial for domestic vaccine companies. While agency business can quickly enrich the product line, it is essential to choose products with market potential and technological advantages [7]. Dependency on HPV Vaccine - Zhifei Biological's business is highly dependent on the agency of Merck's HPV vaccine, which contributed approximately 68% of revenue in 2024. The company faces two core challenges: increasing channel conflicts as international manufacturers collaborate directly with local firms, and relatively low contribution from self-developed products, which accounts for less than 20% of revenue [8]. Decline in Product Sales - In the first half of 2025, the batch issuance volume of core agency products significantly declined, particularly the four-valent HPV vaccine, which dropped from 466,000 units in the first half of 2024 to 0 units, a decrease of 100%. The nine-valent HPV vaccine issuance fell from 18.272 million units to 4.239 million units, a decline of 76.8% [10][11]. - The revenue from agency products halved, decreasing from 51.89 billion yuan in 2023 to 24.67 billion yuan in 2024, and further down to 4.37 billion yuan in the first half of 2025, a year-on-year decrease of 75.2% [12]. Self-Developed Products - Self-developed product revenue in the first half of 2025 was 500 million yuan, accounting for 10.15% of total revenue, with a gross margin of 78.50%, although this was an 8.06 percentage point decline year-on-year [14]. - The batch issuance volume of self-developed products like ACYW135 and Hib vaccines saw significant declines, with Hib vaccine issuance down 66.46% year-on-year [15][16]. R&D Investment - The company has historically maintained a low R&D expense ratio, below 4%, compared to peers. Although the R&D expense ratio reached 8.5% in the first half of 2025, this was primarily due to a significant drop in revenue [17]. - The projected annual R&D investment for 2025 is approximately 1.27 billion yuan, which is less than the previous year's 1.391 billion yuan [17].

Core Viewpoint - The white paper titled "Practices and Achievements in Promoting Women's Comprehensive Development in New Era China" highlights significant advancements in women's and children's health in China, positioning the country among the top in global middle and high-income nations in key health indicators [1][8]. Group 1: Health Service System - China has continuously improved its maternal and child health service system, integrating it into a healthcare network that covers a population of 1.4 billion [4]. - The maternal and child health service system is centered around maternal and child health institutions, supported by grassroots medical facilities, large hospitals, and research institutions [4]. Group 2: Health Institutions and Services - There are currently 3,081 maternal and child health institutions, 3,491 critical maternal care centers, and 3,221 critical newborn care centers across the country [5]. - Over 2,600 secondary and higher-level traditional Chinese medicine hospitals have established gynecology departments, enhancing the availability of services [5]. - The "Internet + Maternal and Child Health" service model has been developed, significantly improving the level of service equity [5]. Group 3: Health Initiatives and Strategies - The government is focusing on tackling major health issues such as cervical and breast cancer through comprehensive prevention strategies, including health education and HPV vaccination [6]. - By 2025, the government plans to introduce HPV vaccination services for eligible girls and include the HPV vaccine in the national immunization program [6]. Group 4: Health Education and Goals - The "Healthy China Mother Action" initiative promotes health knowledge dissemination and employs multiple measures to enhance maternal and child health levels [8]. - China's maternal and child health core indicators are among the best globally, achieving relevant targets of the United Nations 2030 Sustainable Development Agenda ahead of schedule [8].