Annual Report 2024

MANAGEMENT DISCUSSION AND ANALYSIS 11 The United Laboratories International Holdings Limited Annual Report 2024 BUSINESS REVIEW In 2024, the Group achieved satisfactory results in the research and development of new drugs, production and supply, sales and service. In addition, we promoted the construction of production capacity in an orderly manner, continued to deepen external cooperation and exchanges, and actively expand our international business. During the year, the Group recorded revenue of approximately RMB13,758.9 million, similar as compared with 2023. Our position in the industry remained strong and our businesses in all segments developed healthily. Intermediate Products and Bulk Medicine During the year, the intermediate products and bulk medicine segment recorded external sales of RMB2,658.7 million and RMB6,372.7 million, respectively, representing a year-on-year increase of 14.8% and decrease of 0.4%, respectively. Overseas export recorded stable sales of RMB2,643.4 million, and accounted for 19.2% of total revenue of the Group. The Group continued to improve the production costs of its upstream products, gaining industrial chain advantages. The Group remained the leader of intermediate products and bulk medicine in the PRC and overseas markets. In addition, the construction of Zhuhai Gaolan Port API Project and Inner Mongolia Guangda Lianfeng Bio-tech Co., Ltd. progressed smoothly. Mr. Leung Wing Hon Vice-Chairman