When facing thousands of listed company announcements every day, which ones should you read? What are the key points to take away from the dozens or hundreds of pages of material announcements? Are the many professional terms in the announcements bullish or bearish? Check out Caixin's "Quick Read Announcement" column, where our reporters across the country will provide you with accurate, fast and professional interpretations on the night of the announcement.

In the context of the serious internal competition of the bivalent HPV vaccine, the decrease in sales revenue has become a lingering shadow for Beijing Wantai Biological. As a result, the company's revenue and net income attributable to owners of the parent company have decreased significantly, and performance has declined for six consecutive quarters. Looking closer, the diagnostic division's revenue exceeded the vaccine division's, and overseas revenue saw some growth compared to the previous year. The company currently states that the commercial production conditions for the nine-valent HPV vaccine have been met.

Beijing Wantai Biological disclosed its 2024 semi-annual report tonight, with the company achieving revenue of 1.366 billion yuan in H1, a year-on-year decrease of 67.19%; and net income attributable to owners of the parent company of 0.26 billion yuan, a year-on-year decrease of 84.7%. This is consistent with the pre-announcement of the semi-annual performance decline in July. It is worth noting that since Q1 of last year, the company's total revenue and net income have declined for six consecutive quarters.

In the semi-annual report, Beijing Wantai Biological stated that the decline in revenue was mainly due to the continued impact of the expansion of the nine-valent cervical cancer vaccine on the bivalent cervical cancer vaccine, as well as market competition and inventory reduction factors, resulting in a decline in sales revenue compared to the same period last year.

Looking at the quarterly figures, Beijing Wantai Biological achieved total revenue of 0.753 billion yuan in Q1, a year-on-year decrease of 73.93%, and net income attributable to owners of the parent company of 0.126 billion yuan, a year-on-year decrease of 89.90%. According to calculations by Caixin, the company achieved total revenue of 0.614 billion yuan in Q2, a year-on-year decrease of 51.96%, and net income attributable to owners of the parent company of 0.135 billion yuan, a year-on-year decrease of 70.54%.

In terms of revenue generated from contracts, the revenue of the diagnostic division exceeded the revenue of the vaccine division for Beijing Wantai Biological. Specifically, the revenue of the diagnostic division is approximately 0.827 billion yuan, an increase of 8.34% compared to the same period last year, accounting for 60.54% of the total revenue, while the revenue of the vaccine sector is 0.526 billion yuan, a year-on-year decrease of 84.47%, accounting for 38.51% of the total revenue.

Looking at the operating regions, Beijing Wantai Biological has seen a significant increase in overseas revenue, reaching 0.072 billion yuan, with a year-on-year growth rate of 69.3%. The company states that under the promotion of the Belt and Road Initiative concept, its vaccine products have been exported to multiple countries along the route. Currently, the vaccine products have obtained market approval in 19 countries, and sales have been achieved in 7 countries, including 5 projects at the national level.

In the first half of this year, the price of bivalent HPV vaccine has experienced multiple price reductions. On August 2nd, Zerun Biotechnology, a subsidiary of Walvax Biotechnology, won the bid for the HPV vaccine procurement project in Shandong Province at a price of 27.5 yuan per dose, setting a new low for the purchase price of bivalent HPV vaccine.

In the case of weak sales of bivalent HPV vaccine, the progress of Wantai Biopharmaceutical's nine-valent HPV vaccine has attracted much attention. According to the semi-annual report, the company's nine-valent HPV vaccine has completed the specimen testing for the III phase clinical trial V8 visit as planned, and the unblinding of the main results is in line with expectations. In addition, the production conditions for the commercialization of this vaccine are already in place, and the application for listing is progressing as planned. On August 13, Wantai Biopharmaceutical announced that the company's nine-valent HPV vaccine is proposed to be included in the priority review variety public notice list by the Drug Evaluation Center of the National Medical Products Administration.