Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company's HPV vaccine sales are under pressure, but the newly introduced shingles vaccine is expected to gradually increase in volume [6] - In H1 2024, the company reported revenue of 18.258 billion yuan, a year-on-year decrease of 25.31%, and a net profit attributable to shareholders of 2.234 billion yuan, down 47.55% [6][7] - The company has expanded its sales team significantly, with a 39.51% increase in sales personnel, which is expected to support the launch of new products [6] Financial Performance - In H1 2024, the company's revenue from agency products was 17.592 billion yuan, a decrease of 25.40% year-on-year, primarily due to unmet market promotion expectations [6] - The company’s R&D investment reached 570 million yuan in H1 2024, accounting for 103% of its self-developed product revenue [6] - The company forecasts revenues of 40.730 billion yuan, 40.833 billion yuan, and 41.691 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of -23.03%, 0.25%, and 2.10% [7] Product Development - The company has a total of 32 self-developed projects, with several products making positive progress in clinical trials [6] - The company has achieved nationwide coverage of over 20,000 terminal usage units for its shingles vaccine, which was first approved for sale in March 2024 [6] Market Position - Despite the decline in HPV vaccine sales, the company maintains a high market share and has a clear competitive advantage through product differentiation [6]

Financial Performance - The company's operating revenue for the reporting period was ¥18,258,441,511.25, a decrease of 25.31% compared to the same period last year[14]. - The net profit attributable to shareholders was ¥2,234,319,364.61, down 47.55% year-on-year[14]. - The net cash flow from operating activities was -¥307,321,841.89, a decline of 114.12% compared to the previous year[14]. - The basic earnings per share decreased to ¥0.9322, a drop of 47.48% compared to the previous year[14]. - The weighted average return on net assets was 6.88%, down 9.44% from the previous year[14]. - The company reported a net profit of 2.230 billion yuan after deducting non-recurring gains and losses, a decrease of 47.04% year-on-year[29]. - The company achieved a revenue of 18.258 billion yuan in the first half of 2024, a decrease of 25.31% compared to the same period last year[29]. - The net profit attributable to shareholders was 2.234 billion yuan, down 47.55% year-on-year[29]. Research and Development - The company invested CNY 570 million in R&D during the reporting period, with the number of R&D personnel increasing to 979[30]. - The company has multiple projects in the pipeline, including a quadrivalent recombinant norovirus vaccine entering phase III clinical trials and a 26-valent pneumococcal conjugate vaccine in phase I/II trials[30]. - The company has established three major R&D and production bases and an innovation incubation center, employing 979 R&D personnel to strengthen its independent research capabilities[40]. - The company has developed nine major R&D technology platforms, covering various advanced technologies, to enhance its core R&D capabilities[41]. - The company is focusing on technological innovation to enhance its production capabilities and strengthen its market network[39]. - The company is committed to enhancing its patent application and registration processes to strengthen its intellectual property portfolio[45]. Market Strategy and Positioning - The company emphasizes a dual-driven development model of "technology & market" to meet public health needs and enhance its product offerings[22]. - The company is actively involved in the prevention and treatment of infectious diseases, providing diverse disease protection options for the public[24]. - The company is positioned in the biopharmaceutical industry, which is supported by national policies aimed at promoting high-quality development[18]. - The global biopharmaceutical market is experiencing growth, driven by the demand for vaccines and biotechnological innovations[18]. - The Chinese vaccine market has significant growth potential, with per capita spending on vaccines still much lower than in developed countries[19]. - The company is actively pursuing internationalization strategies and product globalization, enhancing partnerships with organizations like WHO, Gavi, and UNICEF to improve vaccine accessibility and affordability[38]. Compliance and Risk Management - The company emphasizes compliance and industry governance, which is essential for sustainable development and market competitiveness[21]. - The company has established a compliance management framework to ensure adherence to laws and regulations, enhancing operational integrity[36]. - The company emphasizes risk management in accounts receivable to mitigate bad debt risks as sales scale increases[63]. - The company emphasizes a risk management approach in product development, focusing on reducing uncertainties in research and registration processes[3]. Shareholder and Investor Relations - The company reported a plan not to distribute cash dividends or bonus shares for the current period[2]. - The company has implemented an employee stock ownership plan involving 1,923 core employees, holding a total of 43,650,000 shares, representing 1.82% of the total share capital[74]. - The company is committed to enhancing investor returns and has increased its dividend distribution, which was approved at the 2023 annual general meeting[70]. - The company has established a communication platform for investors, conducting an online performance briefing on May 14, 2024[70]. - The company has actively engaged with investors through various channels to enhance transparency and trust[70]. Environmental Responsibility - The company has adhered to environmental protection laws and is committed to sustainable development practices[78]. - The company has implemented measures to ensure that volatile phenol emissions remain below detection limits[84]. - The company is actively monitoring and managing wastewater quality to meet environmental regulations and standards[84]. - The company has achieved 100% compliance in waste disposal, ensuring no environmental pollution incidents occurred during the reporting period[88]. - The company emphasizes the importance of environmental protection and employee health, continuously exploring energy-saving and resource-conserving operational models[89]. Product Development and Innovation - The company has launched a new recombinant shingles vaccine, which received its first batch of approval in March 2024 and is currently in the initial market promotion phase[28]. - The company is focusing on expanding its product pipeline with several vaccines in preclinical research, including the respiratory syncytial virus (RSV) vaccine and the recombinant MERS virus vaccine[45]. - The company is actively promoting the recombinant shingles vaccine, achieving coverage in over 20,000 terminal usage units nationwide[32]. - The company is committed to innovation and has established high-tech research and production bases to continuously develop new bacterial and viral products[22]. Sales and Marketing - The company has established a comprehensive sales and promotion network to mitigate risks associated with product sales[3]. - The sales team grew to 4,749 members, a 39.51% increase year-over-year, enhancing market coverage and service efficiency[31]. - The marketing network covers all 31 provinces and municipalities in China, reaching over 30,000 grassroots health service points[49]. - The company is focused on compliance and industry governance, which is essential for sustainable development and market competitiveness[21]. Corporate Governance - The company has executed its "Quality Return Dual Improvement" action plan, emphasizing shareholder returns and corporate governance[70]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[90]. - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[97]. - The company did not engage in any major litigation or arbitration matters during the reporting period[99].

证券代码：300122 证券简称：智飞生物 公告编号：2024-46 提名人重庆智飞生物制品股份有限公司董事会现就提名龚涛为重庆智飞生 物制品股份有限公司第六届董事会独立董事候选人发表公开声明。被提名人 已书面同意作为重庆智飞生物制品股份有限公司第六届董事会独立董事候选 人(参见该独立董事候选人声明)。本次提名是在充分了解被提名人职业、学 历、职称、详细的工作经历、全部兼职、有无重大失信等不良记录等情况 后作出的，本提名人认为被提名人符合相关法律、行政法规、部门规章、规 范性文件和深圳证券交易所业务规则对独立董事候选人任职资格及独立性 的要求，具体声明并承诺如下事项： 一、被提名人已经通过重庆智飞生物制品股份有限公司第五届董事会提 名委员会或者独立董事专门会议资格审查，提名人与被提名人不存在利害 关系或者其他可能影响独立履职情形的密切关系。 √是 □否 如否，请详细说明：______________________________ 二、被提名人不存在《中华人民共和国公司法》第一百七十八条等规 定不得担任公司董事的情形。 √是 □否 三、被提名人符合中国证监会《上市公司独立董事管理办法》和深 圳证券交易所业务规 ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-40 重庆智飞生物制品股份有限公司 第五届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1、本次董事会于 2024 年 8 月 19 日以电子邮件的方式向董事发出通知。 2、本次会议于 2024 年 8 月 28 日 10:00 在公司会议室以现场结合通讯方式 召开。 二、董事会会议审议情况 经过各位董事认真审议，本次会议形成如下决议： 1、审议通过了《2024 年半年度报告》及《2024 年半年度报告摘要》 公司《2024 年半年度报告》及《2024 年半年度报告摘要》的编制程序符合 法律、法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了公司 的实际经营情况。 具体内容详见当日发布在中国证监会指定信息披露网站巨潮资讯网的公司 《2024 年半年度报告》及《2024 年半年度报告摘要》。 本议案已经公司董事会审计委员会审议通过。 表决结果：赞成 9 票，反对 0 票，弃权 0 票，本议案获得通过。 3、本次会议应出席并参加表决的董事 ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-43 关于召开 2024 年第二次临时股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、召开会议的基本情况 1、股东大会届次：本次股东大会为重庆智飞生物制品股份有限公司（以下 简称"公司"）2024 年第二次临时股东大会。 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：经公司第五届董事会第十八次会议审议通过， 公司召开 2024 年第二次临时股东大会，会议的召集符合有关法律、行政法规、 部门规章、规范性文件、深圳证券交易所业务规则和公司章程等的规定。 4、会议召开的日期、时间： （1）现场会议召开日期和时间：2024 年 9 月 20 日（星期五）14:30； （2）网络投票日期和时间：2024 年 9 月 20 日。其中，通过深圳证券交易 所交易系统进行网络投票的时间为 2024 年 9 月 20 日 9:15-9:25、9:30-11:30， 13:00-15:00；通过深圳证券交易所互联网系统投票的具体时间为 2024 年 9 月 20 日 9:15-15: ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-44 提名人重庆智飞生物制品股份有限公司董事会现就提名袁林为重庆智飞生 物制品股份有限公司第六届董事会独立董事候选人发表公开声明。被提名人 已书面同意作为重庆智飞生物制品股份有限公司第六届董事会独立董事候选 人(参见该独立董事候选人声明)。本次提名是在充分了解被提名人职业、学 历、职称、详细的工作经历、全部兼职、有无重大失信等不良记录等情况 后作出的，本提名人认为被提名人符合相关法律、行政法规、部门规章、规 范性文件和深圳证券交易所业务规则对独立董事候选人任职资格及独立性 的要求，具体声明并承诺如下事项： 一、被提名人已经通过重庆智飞生物制品股份有限公司第五届董事会提 名委员会或者独立董事专门会议资格审查，提名人与被提名人不存在利害 关系或者其他可能影响独立履职情形的密切关系。 √是 □否 如否，请详细说明：______________________________ 二、被提名人不存在《中华人民共和国公司法》第一百七十八条等规 定不得担任公司董事的情形。 √是 □否 如否，请详细说明：______________________________ ...

法定代表人：蒋仁生 主管会计工作负责人：李振敬 会计机构负责人：蒋彩莲 | 非经营性资金占 | | 占用方与上市公司的 | 上市公司核 | 2024 年期初占用 | 2024年 1-6月占用 | 2024 年 1-6 月占 | 2024 年 1-6 月偿 | 2024 年 6 月末 | 占用 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 用 | 资金占用方名称 | 关联关系 | 算的会计科 目 | 资金余额 | 累计发生金额 （不含利息） | 用资金的利息 (如有） | 还累计发生金额 | 占用资金余额 | 形成原因 | 占用性质 | | 现大股东 | | | | | | | | | | | | 及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前大股东 | | | | | | | | | | | | 及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 总计 | | | | | | ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-47 声明人龚涛作为重庆智飞生物制品股份有限公司第六届董事会独立董事候 选人，已充分了解并同意由提名人重庆智飞生物制品股份有限公司董事会提名 为重庆智飞生物制品股份有限公司(以下简称该公司)第六届董事会独立董事候 选人。现公开声明和保证，本人与该公司之间不存在任何影响本人独立性 的关系，且符合相关法律、行政法规、部门规章、规范性文件和深圳证券 交易所业务规则对独立董事候选人任职资格及独立性的要求，具体声明并 承诺如下事项： 一、本人已经通过重庆智飞生物制品股份有限公司第五届董事会提名委 员会或者独立董事专门会议资格审查，提名人与本人不存在利害关系或者 其他可能影响独立履职情形的密切关系。 √是 □否 如否，请详细说明：______________________________ 二、本人不存在《中华人民共和国公司法》第一百七十八条等规定不 得担任公司董事的情形。 √是 否 如否，请详细说明：______________________________ 三、本人符合中国证监会《上市公司独立董事管理办法》和深圳证券 交易所业务规则规定的独立董事任职资 ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-45 声明人袁林作为重庆智飞生物制品股份有限公司第六届董事会独立董事候 选人，已充分了解并同意由提名人重庆智飞生物制品股份有限公司董事会提名 为重庆智飞生物制品股份有限公司(以下简称该公司)第六届董事会独立董事候 选人。现公开声明和保证，本人与该公司之间不存在任何影响本人独立性 的关系，且符合相关法律、行政法规、部门规章、规范性文件和深圳证券 交易所业务规则对独立董事候选人任职资格及独立性的要求，具体声明并 承诺如下事项： 一、本人已经通过重庆智飞生物制品股份有限公司第五届董事会提名委 员会或者独立董事专门会议资格审查，提名人与本人不存在利害关系或者 其他可能影响独立履职情形的密切关系。 √是 □否 如否，请详细说明：______________________________ 二、本人不存在《中华人民共和国公司法》第一百七十八条等规定不 得担任公司董事的情形。 √是 否 如否，请详细说明：______________________________ 三、本人符合中国证监会《上市公司独立董事管理办法》和深圳证券 交易所业务规则规定的独立董事任职资 ...

证券代码：300122 证券简称：智飞生物 公告编号：2024-41 重庆智飞生物制品股份有限公司 1、本次监事会于 2024 年 8 月 19 日以电子邮件的方式向监事发出通知。 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 2、本次会议于 2024 年 8 月 28 日 11：00 在公司会议室以现场表决方式召 开。 一、监事会会议召开情况 二、监事会会议审议情况 3、本次会议应出席并参加表决的监事 3 人，实际出席并参加表决的监事 3 人。 经过认真审议，本次会议形成了如下决议： 4、本次会议由公司监事会主席徐海萍女士主持。 第五届监事会第十二次会议决议的公告 5、本次会议的召集、召开和表决程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定。 经审核，监事会认为：董事会编制和审核公司2024年半年度报告及摘要的程 序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映 了公司的实际情况，不存在任何虚假记载、误导性陈述或重大遗漏。 具体内容详见当日发布在中国证监会指定信息披露网站巨潮资讯网的公司 《2024年半年度报告》及 ...