Annual Report 2024

CHAIRMAN’S STATEMENT 8 The United Laboratories International Holdings Limited Annual Report 2024 In recent years, China’s aquaculture industry has been developing rapidly, and the degree of scale and intensification has been increasing. As national policies continue to strengthen the supervision and regulation of the animal healthcare industry, the animal healthcare market is booming with rising market demands. Relying on the advantages of its brand and industrial chain, the Group has promoted its animal healthcare business, actively expanding its product pipeline, launching new production capacity and expanding its presence in overseas markets. Through diversified business segments, product portfolio, business model, market distribution and continuous in-depth strategic cooperation with group customers, the Group is confident to seize market opportunities to gain a strong foothold in the fast-growing animal healthcare track. The Group has fully utilized its vertically integrated business model to continuously optimize its industrial structure and resource allocation. During the year, we continued to promote the construction of new production capacity and the upgrading of production lines. The active pharmaceutical ingredient project and the animal healthcare bases under construction progressed smoothly. We will promote the construction of intensive, automated, intelligent and large-scale production bases in an orderly manner to facilitate the high-quality development of the Group. Deepening Industrial Cooperation and Expanding the International Presence During the year, the Group entered into strategic coope r a t i on wi t h a numbe r o f domes t i c and overseas partners while accelerating the pace of internationalization. In March 2024, the Group signed a contract with New Zealand Riverland Foods Ltd., a pet food factory in New Zealand, to introduce New Zealand’s high-quality prescription wet food into the PRC, thus marching into the high-end pet food market. The Group has been actively expanding into overseas markets and obtained 6 overseas registration approvals for animal healthcare products. In the future, the Group will continue to promote overseas registration and market access for animal healthcare products, accelerate the improvement of its coverage network in global animal health markets such as Southeast Asia, Latin America, the Middle East and Africa, and achieve balanced development of its business in China and overseas. Me a nwh i l e , t h e G r o u p h a s e n t e r e d i n t o a comprehensive strategic cooperation with Sinopharm Group Co., Ltd.. Both sides will further strengthen collaboration in multiple fields and tracks, including the industrial chain, supply chain and innovation chain, to jointly build a large platform for future medicine and health. In respect of the overseas finished product business, the Group successfully won the tender for the procurement of human insulin from the Ministry of Health of Brazil at the end of the year. Going forward, we will take diabetic products as the core product, focus on promoting the deployment in countries and districts along the “Belt and Road”, thereby enhancing the contribution of the overseas finished product business.