The research team at Chongqing Zhifei Biological Products Co Ltd in Hefei is conducting experiments. (Photo/Jiang Rensheng and Jiang Lingfeng)
Chongqing - Chinese vaccine maker Chongqing Zhifei Biological Products Co Ltd held its first meeting of the sixth board of directors on September 20. The meeting approved Jiang Lingfeng's appointment as the company's president.
Prior to this, Jiang served as the vice chairman and vice president of Zhifei. This decision indicates the board's strong recognition of this "new generation" successor, who was born in the 1980s.
Follow father to entrepreneurship
In 2002, when his father, Jiang Rensheng, resigned from his job to start a business, those around him were skeptical. However, 22-year-old Jiang Lingfeng was not surprised; he knew this idea had been rooted in his father's mind for a long time.
Since childhood, Jiang Lingfeng has often heard his father speak about his experiences in disease control work, witnessing many villagers struggling due to illnesses like poliomyelitis and tuberculosis, which not only harmed children's health but also burdened families with debt.
His father frequently lamented that many tragedies could be avoided if effective vaccines were more widely available. Having changed his fate through education in a small village, Jiang Rensheng could deeply empathize with the plight of his fellow villagers.
"I admire you, Dad," Jiang Lingfeng sincerely expressed his happiness for his father.
In 2003, after graduating from Guangxi University with a law degree, Jiang Lingfeng aimed for a stable job as his father's fledgling company faced significant pressure.
"Starting a business is a perilous adventure, especially in biotech, with long investment cycles and low success rates," his father explained. Jiang Rensheng decided to set up a research and production base in Beijing, a risky move for the still-struggling Zhifei.
While his father approached uncharted markets, Jiang Lingfeng found himself in a comfortable job with predictable hours, but he felt his future was limited. After several discussions with his father, he decided in 2005 to resign and join the family business.
Jiang Rensheng welcomed this decision, stating, "I never interfere with his choices, whether in studies or jobs, but I'm glad he chose to join me in entrepreneurship." However, he insisted that Jiang Lingfeng start at the grassroots level, just like every other employee.
Aware of his shortcomings in the biotech field, Jiang Lingfeng began in marketing, traveling with his father to secure contracts.
He was struck by his father's habit of always carrying a book, reading whenever possible, and taking notes. This practice inspired Jiang Lingfeng to do the same, believing reading enhances understanding and discernment.
Recognizing his lack of expertise, Jiang Lingfeng focused on management skills, committing to a continuous learning mindset. In his spare time, he pursued further studies at Guangxi University and Peking University's Guanghua School of Management, feeling that his analytical thinking and practical management skills had significantly improved.
Focusing on management skills
In 2005, Zhifei made its first significant profit by exclusively distributing the group A and group C meningococcal polysaccharide vaccine from Lanzhou Institute of Biological Products Co Ltd.
In 2011, the company secured exclusive rights for Merck in China, with the nine-valent HPV vaccine becoming especially popular. This product directly propelled the company's performance.
While the agency business generated considerable revenue, Jiang Rensheng consistently emphasized to his son that independent research and development was the core competitiveness.
Enhancing R&D capabilities and building a stable talent system were crucial, and Jiang Lingfeng played a key role in this process.
In 2008, when Zhifei acquired Anhui Longcom, Jiang Lingfeng was one of the management team sent to Hefei, Anhui province. During his 18 months there, he implemented talent selection and improved the compensation and incentive system, successfully gathering talents and boosting morale, thus laying a solid foundation for Longcom's rapid growth. Years later, the subsidiary's team grew to over a thousand, taking on significant roles in vaccine development.
In 2009, Jiang Lingfeng was dispatched to Beijing to manage the subsidiary Beijing Zhifei Lvzhu Biopharmaceutical, where he stayed for nine years. Although this facility had an advanced vaccine R&D center and a modern production base, it faced challenges in talent recruitment.
Realizing this was unsustainable, Jiang Lingfeng believed attracting talent required genuine commitment. He pushed for improvements in compensation and benefits, providing employees with more supportive services.
These management improvements enhanced employee cohesion. Jiang Rensheng approved of his son’s approach, stating, "As a business manager, learning to utilize and retain talent is essential."
He noted that Jiang Lingfeng had explored many human resource management and compensation strategies, leading to a significantly lower talent turnover rate in R&D and production compared to the industry average.
Looking ahead to new opportunities
In 2018, Jiang Lingfeng was transferred back to Zhifei headquarters as vice president, and five months later, he became vice chairman.
"Once I entered the management team, my responsibilities increased significantly," Jiang Lingfeng noted. He believed the industry should adhere to a long-term perspective, avoiding trends and instead considering what products to sell a decade from now while proactively identifying the next "blue ocean."
The company also turned its attention to a new area: the shingles vaccine.
Individuals who have had chickenpox carry the varicella-zoster virus, which can remain dormant in the body. The virus can reactivate as they age and immune function declines, causing shingles. This condition not only leads to skin lesions but also results in neuropathic pain, which can reach levels 9 to 10—more intense than childbirth.
Research shows that 99.5 percent of adults over 50 test positive for the varicella-zoster virus, and approximately one-third will experience shingles in their lifetime.
In 2023, Zhifei partnered with pharmaceutical giant GlaxoSmithKline to distribute its recombinant zoster vaccine. Jiang Lingfeng undertook significant work in negotiations, stating, “This product has a shingles protection efficacy of 97.2 percent in subjects aged 50 and older and 91.3 percent in those aged 70 and older, far exceeding other products and showing great potential.”
Like his father, Jiang Lingfeng emphasizes self-developed products in addition to distribution. To date, Zhifei has established major R&D bases in Beijing, Hefei, and Chongqing, along with multiple research centers, investing over 2 billion yuan ($280.62 million) annually in innovative research.
At the Beijing Innovation Incubation Center, the company invests 200 to 300 million yuan yearly in basic research, focusing on cutting-edge vaccine technologies and original technological innovations. "This funding has no strict requirements and allows for failure; we need to have a margin for error in innovation," Jiang Lingfeng explained.
Zhifei's R&D base in Chongqing has attracted over 8 billion yuan in investments from the Jiang family and more than 4 billion yuan through public financing. It has successfully incubated over a dozen tech-driven companies focusing on oncology, autoimmune diseases, metabolic disorders, neurodegenerative diseases, and cardiovascular diseases. The company is actively accelerating the conversion of laboratory research into market-ready products.
Currently, one of their self-developed products is in the market approval review stage, two have completed clinical trials, and several major products are expected to be launched in the next 3 to 5 years.
Despite achieving significant successes with his team, Jiang Lingfeng maintains a humble, learning mindset. He shows great respect for professionals' opinions when making major decisions.
Having assumed the role of president, Jiang Lingfeng faces a crucial moment for Zhifei's transformation and market expansion. Can he shoulder this heavy responsibility?
In response, Jiang Rensheng evaluated his son as "steady and assured," while Jiang Lingfeng remarked, "The road ahead is long and arduous. I will strive relentlessly to meet expectations."
(She Zhenfang, a reporter from Chongqing Daily, contributed the Chinese version of this report.)