Core viewpoints

On August 18, the company released its semi-annual report of 2023, and its revenue was basically the same as that of the same period last year; the profit side declined, mainly due to the continuous strengthening of R & D investment and the opening of new R & D pipelines compared with the same period last year. The company's adsorption tetanus vaccine as the main product is expected to continue to release, driving performance growth; AC-Hib triple vaccine has entered the production registration stage, which is expected to bring new performance increments after listing; recombinant Staphylococcus aureus vaccine III phase clinical progress smoothly, broad market prospects. Other innovative vaccine R & D pipelines are progressing smoothly, and the company's competitiveness is expected to continue to enhance in the future.

Event

The company released its semi-annual report for 2023, and its performance was in line with expectations.

On August 18, the company released its semi-annual report of 2023, achieving: 1) operating income of 233 million yuan, up 0.21% from the same period last year; 2) net profit of 29 million yuan, down 8.04% from the same period last year; 3) deducting non-return net profit of 20 million yuan, down 22.74% from the same period last year; 4) basic earnings per share of 0.07 yuan. The performance was in line with previous expectations.

Brief comment

The main products are sold steadily, and the increase in R & D investment affects the profit end.

2023Q2 achieved operating income of 166 million yuan, down 7.17% from the same period last year; net profit of 25 million yuan, down 34.76% from the same period last year; deducting 17 million of non-return net profit