This article only represents the author's own views.

As the Covid pandemic wraps in China, demand has suddenly plummeted for vaccines that briefly lifted names like Sinopharm (1099.HK) and Sinovac to global fame, bringing their stocks back to earth as well.

Another Chinese vaccine maker that got a Covid boost, CanSino Biologics Inc. (6185.HK; 688185.SH), was also feeling the post-pandemic pain in a preliminary annual results report released last week that showed it logged a 902 million yuan ($130 million) loss last year. That marked a stunning reversal from 2021, when it recorded its first-ever profit of 1.91 billion yuan on surging demand for its vaccines. Its revenue also plunged last year to about 1 billion yuan, down roughly three-quarters from nearly 4.3 billion yuan during better times for the company in 2021.