Chongqing Zhifei Biological Products Co., Ltd. (hereinafter referred to as Zhifei Biotechnology) 300122 is a well-known enterprise in China's independent research and development and import of vaccines, and was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange in September 2010. At the end of 2022, the total assets were 38 billion yuan, the revenue was 38.3 billion yuan, the net profit was 7.5 billion yuan, the stock price was 64 yuan in December 2023, and the company's market value was 154 billion yuan, as of September 30, 2023, the total assets of Zhifei Biotechnology have increased to 49.3 billion yuan, and the revenue from January to September has exceeded the total amount of last year to 39.3 billion yuan, and the net profit is 6.5 billion yuan.
The origin of Zhifei Biotech has to start from 2002, when Jiang Rensheng, Liu Junhui, Wu Guanjiang, Yu Nong, and Yang Jinye came to Chongqing from Chengdu to buy Chongqing Jinxin Biological Products Co., Ltd., which has vaccine qualifications, and Zhifei Biotech has developed and grown on the basis of this vaccine factory. In the early days of taking over the company in 2002, Jiang Rensheng held 35 shares7%, Yu Nong 30%, Liu Junhui 14%, Wu Guanjiang 133%, Yang Jinye 7%; At the end of 2003, Yu Nong, Liu Junhui and Yang Jinye withdrew, Jiang Rensheng, Jiang Lingfeng and other family members held as much as 70% of the shares, and Wu Guanjiang and his wife held 29%; At the beginning of the listing in 2010, Jiang Rensheng's family members held 62% of the shares, and Wu Guanjiang held 26%; At present, Jiang Rensheng, Jiang Lingfeng and other family members hold 5442%, Wu Guanjiang and his wife only 455%。
Liu Junhui left in 2003 and participated in the entrepreneurial development of Yunnan Walvax Biotech, Walvax Biotech was also listed in 2010, Walvax Biotech is currently worth about 36 billion yuan, and Liu Junhui's shareholding in the early stage of listing was 1139%, and 4% after many times, is the largest shareholder. Wu Guanjiang began to leave Zhifei Biotechnology in 2014 and founded Shenzhen Three Generations Science and Technology, mainly in the field of vaccination + Internet, and developed the Xiaodou Miao children's vaccine app, and Zhifei veteran Yu Nong is currently following Wu Guanjiang to start a business. These people are indeed the biggest names in the vaccine industry, and they can shine no matter what platform they are on.
According to its 2022 annual report, Zhifei's 2022 independent products AC conjugate vaccine and ACYW135 vaccine were signed in batches of 13.73 million, with sales revenue of 3.3 billion yuan and a gross profit margin of 86%; *The HPV vaccine and rota-shaped vaccine were signed in batches of 39.97 million, with revenue of 35 billion yuan, accounting for 91% of the total revenue, and the gross profit margin of the product was 29%. Zhifei Biotech is the exclusive domestic supplier of Merck, with a purchase amount of 22.6 billion yuan in 2022.
In 2022, the HPV vaccine will be signed in batches of 29.51 million pieces, including 14.03 million quadrivalent vaccines, 800 yuan of imported quadrivalent vaccines, and an income of 11 billion yuan. 15.48 million 9-valent vaccines, 1,300 yuan of imported 9-valent vaccines, and 20.1 billion yuan in revenue. In the first half of 2023, 20.94 million quadrivalent and nine-valent vaccines have been signed, reaching 70% of the total in 2022, which is also the main reason for the significant increase in Zhifei's annual revenue in 2023.
At present, a large number of domestic vaccines have been developed and entered the clinical stage, Wantai Biologics bivalent vaccine and Walvax Biologics bivalent vaccine have been successfully marketed, Wantai Biologics bivalent vaccine will be signed in batches of up to 27 million in 2022, Walvax Biologics bivalent vaccines will also reach 5 million, and it is expected that Wantai Biologics bivalent vaccines will maintain 27 million in batches in 2023, and Walvax Biologics bivalent vaccines will reach 10 million. The nine-valent vaccine developed by Wantai Biotech, Watson Biotech, Kangle Guard, Ruike Biotech and Shanghai Bowei has basically entered the clinical stage, and the output and ** will determine the HPV vaccine market in the next five years.