When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

Caixin reported on August 22nd (Reporter He Fan) that in the era of serious internal competition for the bivalent HPV vaccine, the decline in sales revenue of this vaccine has become an enduring shadow for Beijing Wantai Biological Pharmacy Enterprise (603392.SH). As a result, the company's revenue and net income attributable to the parent have decreased significantly, and the performance has declined for 6 consecutive quarters. It is worth noting that the revenue from the diagnosis division of the company exceeds that of the vaccine division, and overseas income has grown to a certain extent. The company has announced that the 9-valent HPV vaccine is now ready for commercial production.

This evening, Beijing Wantai Biological Pharmacy Enterprise disclosed its semi-annual report for 2024, achieving operating income of 13.66 billion yuan in H1, a year-on-year decrease of 67.19%; achieving net income attributable to the parent of 2.6 billion yuan, a year-on-year decrease of 84.7%. This is basically in line with the content of the performance pre-reduction announcement made in July. It is worth noting that since Q1 last year, the total revenue and net income of Beijing Wantai Biological Pharmacy Enterprise have declined for 6 consecutive quarters.

Beijing Wantai Biological Pharmacy Enterprise stated in the semi-annual report that the decrease in operating income is mainly due to the continued impact of the expansion of the 9-valent cervical cancer vaccine on the bivalent cervical cancer vaccine, as well as market competition, inventory reduction, and other factors, leading to a decline in sales revenue compared to the same period last year.

Looking at the quarterly breakdown, Beijing Wantai Biological Pharmacy Enterprise achieved a total revenue of 7.53 billion yuan, a decrease of 73.93% year-on-year, and achieved a net income attributable to the parent of 1.26 billion yuan, a decrease of 89.90% year-on-year. According to calculations by Caixin reporters, the company achieved a total revenue of 6.14 billion yuan in Q2, a decrease of 51.96% year-on-year, and achieved a net income attributable to the parent of 1.35 billion yuan, a decrease of 70.54% year-on-year.

In terms of revenue generated from contracts, the revenue from the diagnosis division of Beijing Wantai Biological Pharmacy Enterprise exceeded that of the vaccine division. Specifically, the revenue from the diagnosis division was approximately 82.7 billion yuan, an increase of 8.34% compared to the same period last year, accounting for 60.54% of the total revenue. The revenue from the vaccine sector was 52.6 billion yuan, a decrease of 84.47% year-on-year, accounting for 38.51% of the total revenue.

In terms of operating regions, the overseas income of Beijing Wantai Biological Pharmacy Enterprise has increased significantly, reaching 720 million yuan, a year-on-year increase of 69.3%. The company stated that, driven by the Belt and Road Initiative concept, its vaccine products have been exported to multiple countries along the route. Currently, the vaccine products have obtained market approval in 19 countries, and sales have been achieved in 7 countries, including 5 national projects.

In the first half of this year, the price of the bivalent HPV vaccine has experienced multiple price reductions. On August 2nd, Walvax Biotechnology's subsidiary Zerun Biotechnology won the bid for the HPV vaccine procurement project in Shandong Province at a price of 27.5 yuan/dose, setting a new low for the purchase price of the bivalent HPV vaccine.

With weak sales of the bivalent HPV vaccine, Beijing Wantai Biological's nine-valent HPV vaccine has attracted much attention. According to the semi-annual report, the company has completed Phase III clinical trials and specimen testing for the V8 visit of the nine-valent HPV vaccine, and the unblinding of the main results is consistent with expectations. In addition, the production conditions for the commercialization of the vaccine are in place, and the application for market approval is progressing as planned. On August 13th, Beijing Wantai Biological announced that the company's nine-valent HPV vaccine has been included in the priority review list of the Drug Evaluation Center of the National Medical Products Administration.