Zhitong Caijing APP learned that, according to the disclosure of HKSE on September 12, AIM Vaccine has submitted its prospectus to the main board. Previously, AIM Vaccine has officially announced its big progress—its mRNA COVID-19 vaccine has completed low-dose and medium-dose enrollment of adults at the Phase I Clinical Research Laboratory of Shulan (Hangzhou) Hospital, and the preliminary results indicated safety and good tolerance after vaccination. Also, AIM Vaccine has obtained clinical trial approval for its first-generation COVID-19 vaccine (targeting initial strains) under research. AIM Vaccine expects the clinical trials to accelerate the R&D of its second-generation mRNA COVID-19 vaccine and its second-generation inactivated Delta-specific COVID-19 vaccine, and plans to submit clinical trial application for these vaccines in the fourth quarter of 2021.

 

Right now, AIM Vaccine is cooperating with the Zhejiang Provincial Center for Disease Control and Prevention on the development of the second-generation inactivated Delta-specific COVID-19 vaccine. Also, through cooperation with Shanghai Public Health Clinical Center, it is developing two new broad-spectrum vaccines based on recombinant adenovirus vectors targeting coronaviruses (including COVID-19 and its variants) and flu.

 

The prospectus shows: the domestic lot release amount of AIM Vaccine reached 60 million in 2020, taking up 9.5% of the market share, which makes AIM Vaccine the second largest whole-industry-chain vaccine conglomerate in China (only next to CNBG).

 

Based on calculation of the global sales in 2020 (26.2 billion US dollars in total), AIM Vaccine’s vaccine combinations and vaccines under research include all of the top 10 vaccine products of the world. In 2020, judging by the lot release amount, AIM Vaccine is the largest hepatitis B vaccine supplier in China and the world, accounting for 59.4% of the Chinese market share. In China, all neonates must be inoculated with hepatitis B vaccine within 24 hours after birth; in 2020, about 81% of the newborn in China were inoculated with the recombinant hepatitis B vaccine (hansenula polymorpha) of AIM Vaccine. In 2020, AIM Vaccine is the second largest supplier of rabies vaccine for human use in China and the world, accounting for 24.7% or 21.6% of the Chinese market share, calculated on the basis of lot release amount and sales revenue.

 

AIM Vaccine is a vaccine conglomerate owning mRNA technology platform with products in clinical trials. Its COVID-19 vaccine combinations under research involve four technology roadmaps, including second-generation mRNA COVID-19 vaccine, inactivated COVID-19 vaccine, recombination protein COVID-19 vaccine, and broad-spectrum adenovirus vector COVID-19 vaccine. According to its official information, AIM Vaccine will focus on the R&D and production of COVID-19 vaccines in the future. Located at Ningbo Free Trade Zone, its inactivated COVID-19 vaccine P3 production workshop has already been completed, with an estimated annual production capacity of 500 million doses. Meanwhile, a national P3 laboratory of AIM Vaccine in the same area is under efficient construction.

 

In the financial aspect, in 2018, 2019 and 2020, the total revenue of AIM Vaccine is 1.111 billion yuan, 952 million yuan and 1.638 billion yuan respectively, with a gross margin of 866 million yuan, 733 million yuan and 1.354 billion yuan respectively. From 101 million yuan in 2018, its profit went up to 120 million yuan in 2019 and then 400 million yuan in 2020, with a compound annual growth rate of 98.7%. Based on calculation of net profit from 2018 to 2020, AIM Vaccine is among the Chinese vaccine enterprises with the highest profit growth rate in the past 3 years. Its diversified and comprehensive combinations of products and pipelines will satisfy the huge market demand in the future.

 

In the first half of 2021, AIM Vaccine recorded a loss, which is mainly attributable to the following aspects: one-time non-operating expense of return-on equity of 897 million yuan, an increase in R&D cost from 46.2 million yuan to 139.6 million yuan, and the development of diversified pipelines for 23 vaccines under research to meet the huge market demand for innovative vaccines.(Reported by: Zhang Jinliang)