Beijing News (Reporter Liu Xu) On April 23, Chongqing Zhifei Biological Products Co., Ltd. released its 2023 annual report. The company achieved operating revenue of 52.918 billion yuan, an increase of 38.30% over the same period last year; net profit attributable to shareholders of the listed company was 8.07 billion yuan, an increase of 7.04% over the same period last year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 7.915 billion yuan, an increase of 5.40% over the same period last year.
Of which, self-developed products generated revenue of 1.028 billion yuan, a year-on-year decrease of 68.70%, accounting for 1.94% of total revenue; agency products generated revenue of 51.885 billion yuan, a year-on-year increase of 48.35%, accounting for 98.05% of total revenue.
Chongqing Zhifei Biological Products Co., Ltd. stated that during the reporting period, due to objective factors, the market environment for the company's COVID-19 vaccine has changed, with sales and production volumes significantly declining compared to the same period last year. However, the growth of the company’s businesses outside of the COVID-19 vaccine remains robust. The production and sales of self-developed products are proceeding steadily, while procurement and promotional sales of agency products have progressed smoothly, showing a substantial increase compared to the same period last year.
Chongqing Zhifei Biological Products Co., Ltd. has 13 products currently on the market, and 1 product conditionally approved for marketing, including vaccine products for the prevention of meningitis, cervical cancer, pneumonia, rotavirus, herpes zoster, and other infectious diseases.
In terms of agency products, on January 21, 2023, Chongqing Zhifei Biological Products Co., Ltd. signed the "Supply, Distribution, and Co-Promotion Agreement" with Merck & Co., Inc. MSD will exclusively supply the agreement products to Zhifei Biological and authorize Zhifei Biological to import, distribute, and promote the agreement products within the agreed region according to the agreement. During the validity period of the agreement, the company will continue to purchase HPV vaccines, pentavalent rotavirus vaccines, and other agreement products from MSD as per the agreement, with the total basic procurement amount for the agreement products exceeding 100 billion yuan. On October 8, 2023, Zhifei Biological signed the "Exclusive Distribution and Joint Promotion Agreement" with GSK Biologicals and GSK Hong Kong (collectively referred to as "GSK"). GSK will exclusively supply the recombinant shingles vaccine to Zhifei Biological and authorize Zhifei Biological to market, promote, import, and distribute the relevant products within the cooperation region as agreed. For the years 2024-2026, the minimum annual procurement amounts for the recombinant shingles vaccine are set at 3.44 billion yuan, 6.88 billion yuan, and 10.32 billion yuan, respectively. The year 2024 will be the first year for Zhifei Biological to act as the distributor for GSK’s recombinant shingles vaccine.
In 2023, Chongqing Zhifei Biological Products Co., Ltd. invested 1.345 billion yuan in R&D, representing a 20.82% increase from the same period last year. To date, the company has a total of 31 self-developed projects (excluding COVID-19 related projects), 17 of which are in clinical trials or in the application and registration phase.
On the same day, Chongqing Zhifei Biological Products Co., Ltd. disclosed its Q1 2024 report, with operating revenue of 11.396 billion yuan, a year-on-year increase of 2%; net profit attributable to shareholders of the listed company was 1.458 billion yuan, a year-on-year decrease of 28.26%; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.455 billion yuan, a year-on-year decrease of 28.36%.
Proofread by Wang Xin