Walvax Biotechnology Co., Ltd, a Chinese vaccine manufacturer listed on the Shenzhen Stock Exchange (SHE: 300142), has released its financial report for the first half of 2024. The company reported operating revenue of RMB 1.433 billion, marking a significant year-on-year (YOY) decrease of 33.88%. The non-net profit attributable to the parent company was RMB 146 million, a substantial YOY decline of 65.39%. Total assets at the period’s end were recorded at RMB 15.086 billion, a slight YOY reduction of 3.22%.
Walvax commercializes a portfolio of 8 self-developed vaccines, including the 13-valent pneumococcal conjugate vaccine, bivalent HPV vaccine, 23-valent pneumococcal polysaccharide vaccine, Haemophilus influenzae type b conjugate vaccine, Group A and C meningococcal polysaccharide conjugate vaccine, ACYW135 meningococcal polysaccharide vaccine, Group A and C meningococcal polysaccharide vaccine, and adsorbed acellular pertussis combined vaccine. Notably, its COVID-19 mRNA vaccine, targeting the Omicron XBB.1.5 variant, has received emergency use authorization in China. Throughout the period, a total of 13,840,764 doses of Walvax’s marketed vaccines were approved for distribution. The 13-valent pneumococcal conjugate vaccine retains its leading market share in China, and the bivalent HPV vaccine has seen volume growth through the Huiminbao project.
The company’s revenue, 95.34% of which was generated from the production and sales of its vaccine products in the first half of the year, has been impacted by intensified industry competition and demographic and consumption habit shifts in the domestic market. Despite these challenges, Walvax has expanded its reach to overseas markets, with H1 2024 sales reaching a record high of RMB 299.81 million. Additionally, the company is progressing in the development of its nine-valent HPV vaccine, with its Phase III clinical trial well underway.- Flcube.com
