康华生物(300841) - 康华生物调研活动信息

Group 1: Market Overview - The market share of the human diploid cell rabies vaccine was approximately 4% in 2018 and 2019, increasing to 5%-6% in 2020 [3] - Factors contributing to the growth of the rabies vaccine market include the expansion of pet ownership, increased public awareness of vaccine safety, and rising income levels [3] Group 2: Sales Performance - The company expects a sales growth rate exceeding 100% in 2020 compared to 2019, despite a slight decrease in Q4 sales compared to the previous year [4][6] - The sales expense ratio has significantly decreased in 2020 compared to previous years due to increased public awareness and market expansion [5] Group 3: Production Capacity - The company anticipates a production capacity of 2 million doses to be validated by the regulatory authority by the end of 2020, with a target of reaching 5 million doses in 2021 [4][6] - The production cycle involves multiple quality checks and regulatory approvals, which can introduce uncertainties in the sales timeline [4] Group 4: Research and Development - The company has eight major research projects, with two expected to enter clinical trials by the end of next year [5] - Future vaccine development includes genetic engineering vaccines for diphtheria and rotavirus, as well as bacterial vaccines for tetanus and pneumonia [5] Group 5: Distribution and Coverage - As of Q3 2020, the company has expanded its business to cover 1,600 disease control centers across 31 provinces in China [5] - The company aims to further extend its marketing channels to vaccine administration points [5]