(Yicai Global) Nov. 1 -- Human papillomavirus vaccine producers Beijing Wantai Biological Pharmacy and Walvax Biotechnology were the only two listed Chinese vaccine makers to make more money in the nine months ended Sept. 30, while Covid-19 jab makers racked up the biggest losses, according to the latest data.

Wantai’s profit more than tripled in the first three quarters from the same period last year due to strong sales of its bivalent HPV vaccines, buoyed by a free government inoculation program, according to its latest earnings report. The Beijing-based company’s Covid-19 detection reagents were also in high demand.

By contrast, Covid-19 vaccine makers were hammered by plummeting sales worldwide amid a waning pandemic and stiff competition, according to the third-quarter reports released by 13 listed vaccine makers so far.

CanSino Biologics’ net profit crumbled 135.5 percent in the third quarter from the same period last year to rack up losses of CNY474 million (USD64.9 million), according to the company’s latest earnings report. While Shenzhen Kangtai Biological Products recorded a 80.4 percent dive in net profit over the period.

The demand for Covid-19 vaccines has plunged, Tianjin-based CanSino said. Growth has slowed substantially and there is even surplus supply in some regions. Expired vaccines are being discarded in some overseas countries and even developing nations are no longer accepting Covid-19 vaccine donations. Meanwhile there are many more products on the market.

CanSino has a new inhaled Covid-19 vaccine which has recently been released on the market in China as a booster jab. It remains to be seen if this can boost the company’s performance. CanSino has made an impairment provision of CNY526 million (USD72 million) for its Covid-19 vaccine-related assets, it said.

Influenza vaccine maker Hualan Biological Bacterin’s net profit dipped 4.4 percent in the first nine months from a year earlier. This is a big turnaround from the first half, when the Xinxiang, central Henan province-based company’s net profit surged 11-fold. The company’s influenza jabs did well in the summer during an outbreak of the disease in south China. But demand had ebbed by the third quarter and profit plunged 30.9 percent quarter on quarter.

Hualan’s share price [SHE:301207] was trading down 1.2 percent at CNY40.21 (USD5.50) as of 12.40 p.m. China time. Yesterday it plunged over 13 percent.

Editor: Kim Taylor