Beijing Wantai Biological Pharmacy Enterprise (603392.SH) is expected to see a sharp drop of over 90% in net profit in 2024, with a significant decline in revenue from the vaccine sector. However, overseas revenue is expected to increase by 55%.

Beijing Wantai Biological Pharmacy Enterprise (603392.SH) has announced that, according to preliminary calculations by the finance department, it is expected to achieve a net profit attributable to the owners of the parent company of 86 million to 120 million yuan in the year 2024. This is a decrease of 1.16168 billion to 1.12768 billion yuan compared to the same period last year, a year-on-year decrease of 93.11% to 90.38%. It is also expected that the net profit attributable to the owners of the parent company, excluding non-recurring gains and losses, will be -220 million to -155 million yuan in 2024. This is a decrease of 1.29822 billion to 1.23322 billion yuan compared to the same period last year, a year-on-year decrease of 120.40% to 114.38%. During the reporting period, the company's vaccine sector experienced a significant decrease in sales revenue and profit due to market adjustments, government procurement changes, and the expansion of the nine-valent HPV vaccine age range, resulting in a loss in net profit. On the other hand, the company saw a 55% increase in overseas business revenue compared to the same period last year through various international sales promotion channels. The diagnostic sector benefited from the acceleration of major projects such as production lines and collaborations with top 300 hospitals nationwide, excluding COVID-19 related business, resulting in a rapid growth in sales revenue and profit compared to the same period last year.