Chinese Covid-Vaccine Makers Predict Strong Profits for 2021

Major Chinese vaccine makers are expecting to report a major surge in profits last year on the back of the nationwide Covid-19 inoculation program that has seen more than 3 billion doses administered, the biggest such rollout in the world.

Tianjin-based CanSino Biologics Inc. (688185.SH), which makes a single-dose vaccine, estimated it would book 1.85 billion yuan ($290.6 million) to 2 billion yuan in net profits attributable to shareholders in 2021, a reversal from a net loss of 397 million yuan for the previous year, according to a Saturday company filing.