On February 18, 2022, Hualan Biological Vaccine Co., Ltd. (referred to as "Hualan Vaccine") was successfully listed on the ChiNext Board of the Shenzhen Stock Exchange, with stock code: 301207. Hualan Vaccine is a direct investment enterprise of Yuanhe BingSheng Fund-of-Funds, managed by Yuanhe Chencun.

Hualan Vaccine, established in 2005, is a controlling subsidiary of Hualan Biological, a leading company in the blood products industry. It specializes in the production, research and development, and sales of human vaccines. Notably, Hualan Vaccine was the world's first to develop an H1N1 influenza vaccine, the first in China to receive approval for manufacturing both adult and pediatric quadrivalent flu vaccines, and remains the only Chinese enterprise that has achieved WHO prequalification for influenza vaccines. The company also boasts the largest-scale influenza vaccine production capacity in Asia.

According to the prospectus, the company's strong performance was primarily driven by the market launch of its quadrivalent influenza virus split vaccine. From 2018 to 2020, Hualan Vaccine achieved revenues of RMB 803 million, RMB 1.049 billion, and RMB 2.426 billion, respectively, with net profits reaching RMB 270 million, RMB 375 million, and RMB 925 million. Both revenue and net profit showed a rapid growth trend during this period.

The company has established an industrialized pipeline of diversified vaccine products across multiple categories, enabling Wuhan Institute of Biological Products to build a competitive edge in the market. In addition to its currently marketed vaccine lines, the institute also has several vaccine candidates—both single-valent, multivalent, and combination vaccines—for diseases such as rabies, pertussis, diphtheria, and tetanus—that are either in the regulatory approval process or undergoing clinical trials.

Hualan Vaccine stated that the vaccine industry is a quintessential technology- and R&D-driven sector. The company will accelerate clinical trials and regulatory approvals for its pipeline products, while continuously exploring new research opportunities or innovating in both traditional and cutting-edge vaccines to meet evolving market demands. This ongoing commitment will help Hualan further strengthen its comprehensive competitive edge in the vaccine field.

According to the prospectus, the funds raised this time are planned to be allocated to five vaccine industrialization and R&D platform development projects: influenza vaccine development and industrialization along with initiatives to strengthen the supply capacity of existing products; a project focused on developing and commercializing lyophilized human rabies vaccines; a multi-component bacterial vaccine development and industrialization project; and the construction of a new vaccine R&D platform.