Baige Bio: Loss of 263 million yuan in 2025, turning from profit to loss year-on-year.

Baike Biotech disclosed its annual report on April 21st, achieving operating income of 605 million yuan in 2025, a year-on-year decrease of 50.77%; net loss attributable to shareholders was 263 million yuan, compared to a profit of 232 million yuan in the same period last year, turning from profit to loss year-on-year. During the reporting period, the company's main product operating income declined significantly due to factors such as intensified industry competition, insufficient willingness of the public to be vaccinated, and a decrease in the birth rate of newborns. Among them, the herpes zoster vaccine experienced returns due to various factors such as the recognition of vaccine recipients of the disease and their willingness to consume the vaccine, and some confirmed revenue for the herpes zoster vaccine that had not been administered before the expiration date; at the same time, in order to enhance public awareness of prevention of herpes zoster and increase the vaccination rate, the company actively promoted projects to benefit the people, actively adjusted prices, and reduced the unit price of the herpes zoster vaccine. In addition, the sales volume of chickenpox vaccine decreased year-on-year due to the decrease in the birth rate of newborns and intensified market competition.