Hualan Biological Vaccine Inc. (301207.SZ) issued a profit warning, with an estimated net profit of 200 million to 250 million yuan for the fiscal year 2024, a decrease of 70.93% to 76.74%.

Hualan Biological Vaccine Inc. (301207.SZ) announced its performance forecast for the year 2024, expecting a net profit attributable to shareholders of the listed company of 200 million to 250 million yuan, a year-on-year decrease of 70.93% to 76.74%. Reasons for the performance change: In order to improve the accessibility of flu vaccines, enhance product market competitiveness and market share, reduce the economic burden on the people and government, fulfill corporate social responsibility, and based on market conditions, the company adjusted the prices of its quadrivalent flu vaccine products in June 2024, with the prices of its main products lowered by over 40%. Due to factors such as fluctuations in vaccination rates, a decline in vaccine market demand, and reduced sales, the company's business development and profit level have been significantly impacted, leading to a noticeable decline in performance for the year 2024. The company has always adhered to an innovative positioning and high-quality development strategy, maintaining continuous investment in research and development of innovative vaccines, genetic engineering vaccines, and other technological platforms. It has increased research and development exploration for product innovation, as well as efforts in clinical product transformation and registration. The high research and development expenses have had a certain unfavorable impact on the company's net profit. For the year 2024, the company expects a non-recurring gain or loss to have an impact on net profit of approximately 90 million yuan, mainly due to the financial income generated from the company's investment of idle funds.