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Despite the growth in the company's diagnostic business sector, the two-valent HPV vaccine sector of Beijing Wantai Biological Pharmacy Enterprise continues to adversely affect the company's performance due to market adjustments, government centralized procurement, and other factors. In addition, increased investment in the industrialization of the nine-valent HPV vaccine, the company's revenue and net income for the first three quarters have significantly decreased. On the other hand, the application for the listing of the nine-valent HPV vaccine by Beijing Wantai Biological Pharmacy Enterprise has been accepted, bringing it one step closer to market launch.

Tonight, Beijing Wantai Biological Pharmacy Enterprise released the third quarter report for 2024, achieving operating income of 1.948 billion yuan in the first three quarters, a year-on-year decrease of 60.79%; net income attributable to shareholders was 0.267 billion yuan, a year-on-year decline of 85.25%. In Q3 alone, operating income was 0.582 billion yuan, a year-on-year decrease of 27.72%; net income attributable to shareholders was 6.1686 million yuan, a year-on-year decline of 94.18%.

Beijing Wantai Biological Pharmacy Enterprise stated that the decline in revenue in the first three quarters was due to the continuous impact of the two-valent cervical cancer vaccine by the nine-valent cervical cancer vaccine, as well as market competition, inventory reduction, and other factors affecting sales revenue compared to the same period last year.

Furthermore, looking at the sectors separately, the vaccine sector's sales revenue and profits have declined compared to the same period last year due to market adjustments, government centralized procurement, expansion of the nine-valent HPV vaccine age range, and increased investment in the industrialization of the nine-valent HPV vaccine project, exceeding 40 million yuan from the same period last year. On the other hand, the diagnostic sector has maintained overall growth, benefiting from the accelerated progress of major projects like the assembly line, with the chemiluminescence product line maintaining rapid double-digit growth compared to the same period last year.

This year, the two-valent HPV vaccine has experienced several significant price reductions, entering a 'low-profit era.' In August, Walvax Biotechnology's subsidiary's two-valent HPV vaccine won the bid for the purchase project of the double-valent human papillomavirus (HPV) vaccine in Shandong Province at 27.5 yuan/dose, setting a new low price.

On the other hand, Beijing Wantai Biological Pharmacy Enterprise's highly anticipated nine-valent HPV vaccine has made new progress, getting closer to its market launch. On August 26, the company announced that its wholly-owned subsidiary, Wantai Canghai, along with Xiamen University, had their listing application for the nine-valent HPV vaccine received by the National Medical Products Administration Drug Evaluation Center.

Beijing Wantai Biological Pharmacy Enterprise is also preparing for the commercialization of the nine-valent HPV vaccine. At a semi-annual earnings conference held earlier, the company stated that the Phase II expansion project of the nine-valent cervical cancer vaccine is progressing as planned. The main equipment procurement and workshop purification decoration have been completed, and equipment commissioning and validation work are in progress.