Kangtai biology expects the net profit in the first half of this year to fall by at least 60%< Br > < div class= "contheight" > < / div > on July 24, Shenzhen Kangtai Biological Products Co., Ltd. (Kangtai biological, 300601) issued a semi annual performance forecast for this year, saying that the net profit attributable to shareholders of Listed Companies in the first half of the year was 100 million to 130 million yuan, a decrease of 70.29% to 61.37% over the same period last year; Deduct non net profit of 65.9022 million yuan to 95.9022 million yuan, a decrease of 77.74% to 67.61% over the same period last year< Img alt= "semi annual report forecast data of Kangtai biology" style= "width:600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/207/486/128.png ">

semi annual report forecast data of Kangtai biology

for the reason for the sharp decline in net profit, Kangtai biology said that the main reason was the impairment of assets related to covid-19 inactivated vaccine and the expensing of phase III clinical expenditure. Or affected by the above news, the share price of Kangtai biology fell sharply on July 25, with a maximum decline of more than 9%. As of noon, it fell 6.41% to 35.75 yuan / share, with a market value of 40.06 billion yuan.

< / div > in the morning of July 25, the news contacted Kangtai biological securities department as an investor. The staff stressed that the reason for the decline in net profit was subject to the announcement,” the environment of the new crown (epidemic) including some changes in demand “.
< div class=" contheight "> < / div > Kangtai biology introduced in the latest performance forecast that since the second quarter, the vaccination environment of covid-19 at home and abroad has changed greatly, the demand for covid-19 vaccine has decreased rapidly, and the sales volume of covid-19 vaccine of the company has declined rapidly; the company’s covid-19 inactivated vaccine is still in the phase III clinical stage overseas, and the uncovering of phase III clinical data in Ukraine has been delayed due to the impact of the Russian Ukrainian war, and the subsequent sales have great uncertainty.

< / div > in addition, Kangtai biological made an asset impairment provision of 414589.3 million yuan for the inventory goods, raw and auxiliary materials, self-made semi-finished products related to covid-19 vaccine with signs of impairment and the development expenditure of covid-19 vaccine by the end of March 2022; in addition, the expense treatment of the research and development expenditure of covid-19 inactivated vaccine occurred in the second quarter was 140.22 million yuan; the total profit decreased by 5548093 yuan for the provision of asset impairment and the expense treatment of confirmed research and development expenditure The net profit decreased by 451.6 million yuan considering the impact of additional deduction< Br > < div class= "contheight" > < / div > Kangtai biological was founded in September 1992, headquartered in Shenzhen, and started with vaccines. It was listed on the growth enterprise market of Shenzhen Stock Exchange on February 7, 2017, with a maximum market value of more than 100 billion. The 2021 annual report shows that the main products of Kangtai biology include recombinant hepatitis B vaccine (Saccharomyces cerevisiae), 13 valent pneumococcal polysaccharide conjugate vaccine, Haemophilus influenzae type b conjugate vaccine, measles rubella combined attenuated live vaccine, acellular pertussis, Haemophilus influenzae type B combined vaccine, 23 valent pneumococcal polysaccharide vaccine, etc< Br > < div class= "contheight" > < /div> in contrast to the expected decline in net profit in the first half of the year, Kangtai biology expects an operating revenue of 1.8278439 billion yuan in the first half of the year, an increase of 73.72% year-on-year. In addition, the company’s performance increased significantly in the first quarter of this year, with a main revenue of 871 million yuan, an increase of 214.6% year-on-year; The net profit attributable to the parent company was 274 million yuan, an increase of 987.71% year-on-year; Deduct non net profit of 248 million yuan, an increase of 2763.78% year-on-year< Br > < div class= "contheight" > < / div > the reason for the sharp decline in net profit in the first half of the year and the increase in revenue, Kangtai biology said that the sales revenue of its main product tetralogy vaccine (Note: acellular DPT Haemophilus influenzae type B combined vaccine, which is used for the prevention of infectious diseases caused by pertussis, diphtheria, Clostridium tetanus and Haemophilus influenzae type B in infants over 3 months old) increased by about 60.13% year-on-year, The sales revenue of hepatitis B vaccine increased by about 20.76% over the same period last year. The company’s newly launched 13 price pneumococcal polysaccharide conjugate vaccine gradually increased in volume< Br > < div class= "contheight" > < / div > since the global COVID-19, Kangtai biology has successively deployed covid-19 vaccines with three technical routes in different forms, which has driven its share price up, with the highest share price of more than 150 yuan / share in early August 2020< Img alt= "three covid-19 vaccines of Kangtai biological layout" style= "width:600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/207/486/577.png ">

the three covid-19 vaccines distributed by Kangtai biology < / P > the first is inactivated vaccine: on September 29, 2020, Kangtai biology announced that its new covid-19 inactivated vaccine obtained the approval of clinical trials. The vaccine was urgently used in China in May 2021, and has since been approved for homologous enhanced immunization; the second is adenovirus vector vaccine: in August 2020, Kangtai biology and AstraZeneca signed an exclusive licensing cooperation framework agreement for the mainland Chinese market , actively promote the R & D, production, supply and commercialization of the chadox1 adenovirus vector vaccine cooperated by AstraZeneca and Oxford University in the Chinese mainland market through technology transfer; The third is recombinant VSV vector vaccine. In September 2020, when it was disclosed that the inactivated vaccine was approved for clinical trials, Kangtai biology mentioned that the vaccine was in the pre clinical research stage< Br > < div class= "contheight" > < / div > although the inactivated vaccine of Kangtai biology has been launched in China in the middle of 2021, Kangtai biology has not disclosed the data related to the batch issuance or sales of covid-19 vaccine in the 2021 annual report, this year’s first quarter report and the latest semi annual report< Br > < div class= "contheight" > < / div > the 2021 annual report shows that the company’s recombinant novel coronavirus vaccine (Y25 adenovirus vector) obtained the emergency use authorization from the national drug and food administration of Indonesia in October 2021, and achieved export. On July 25, the reporter contacted Kangtai biosecurities department as an investor. The staff said on the phone that the recombinant novel coronavirus vaccine (Y25 adenovirus vector) is the new coronavirus vaccine cooperated with AstraZeneca. As for the recombinant VSV vector vaccine, there is no new progress. At present, the company mainly promotes two new coronavirus vaccines, inactivated and adenovirus vector< Br > < div class= "contheight" > < / div > according to the latest performance forecast, the performance of Kangtai biology is affected by the research and development of covid-19 vaccine. The above staff said that it is not clear whether the company will reduce its investment in covid-19 vaccine in the future.