Annual Report 2024

MANAGEMENT DISCUSSION AND ANALYSIS 15 The United Laboratories International Holdings Limited Annual Report 2024 – In October, the first subject of Phase IIa clinical study of TUL12101 eye drops, a new class 1 drug , was enrolled in China. TUL12101 is a new generation of small molecule RASP (active aldehyde) inhibitor for the treatment of xerophthalmia. Currently, no other products adopting the same mechanism have been marketed in China and abroad. – In October, the marketing application for Insulin Degludec Injection was accepted by the National Medical Products Administration (NMPA). Insulin Degludec is a new generation of long-acting basal insulin analogs. The duration of action of the drug can be maintained for 42 hours, and it has the characteristics of stable glycemic control and high safety. Currently, Insulin Degludec is a Class B drug in the National Medical Insurance List (2023 Edition). – In December, the marketing of Mupirocin Ointment (Specification: 2% (5g:0.1g)) was approved by the NMPA. Mupirocin Ointment is a broad-spectrum antibiotic for skin infections caused by gram-positive cocci and is a Class A OTC topical dermatologic agent. Currently, Mupirocin Ointment is a Class B drug in the National Essential Drug List (2018 Edition) and Medical Insurance List (2023 Edition). – In December, Liraglutide Injection, Insulin Degludec Injection and Semaglutide Injection applied by the Group were approved as the first batch of segmented production pilot varieties of biological products in Guangdong. During the year, the Imipenem and Cilastatin Sodium for Injection (specification: 0.5g; 1.0g), Amoxicillin and Clavulanate Potassium Tablets (specification: 0.375g), Amoxicillin Granules (specification: 0.125g), Ceftazidime for Injection (specification: 1.0g) and Sodium Cefuroxime for Injection (specification: 0.75g; 1.5g) of the Group passed the consistency evaluation. The Group will continuously promote the new drug research and development and the progress of the consistency evaluation, providing patients with more safe and high-quality medication choices. FINANCIAL REVIEW Financial Results For the year ended 31 December 2024, the Group recorded revenue of approximately RMB13,758.9 million, kept stable as compared with 2023. Gross profit was RMB6,082.4 million, representing a year-on-year decrease of 4.0%. EBITDA was approximately RMB3,939.4 million, representing a year-on-year decrease of 0.9%. Profit attributable to owners of the Company was RMB2,659.7 million, representing a year-on-year decrease of 1.5%. Earnings per share were RMB146.39 cents. The Board recommended the payment of a final dividend of RMB28 cents per share and a special dividend of RMB12 cents for the year ended 31 December 2024. Together with the interim dividend of RMB16 cents per share already paid, the total dividend for the year was RMB56 cents per share.