华东医药：2024年年度报告（英文版）

2024 Annual Report April 2025 A Letter to theShareholders Distinguished shareholders, Time tempers our original aspiration, and transformation propels us forward. Asthe tides of era surge, we persevere like determined climbers, moving with deliberatepersistence and rising with steadfast strides. The year 2024 marked a year of formidablechallenges and steady yet significant progress for Huadong Medicine Co., Ltd.(“Huadong Medicine”, “we”or“the Company”).We successfully completed our 7ththree-year plan,marked significant strides in innovation and transformation, andadvanced our R&D pipelines to the acceptance phase. Moreover,all four of our corebusiness segments achieved accelerated growth, a direct testament to the dedicationand perseverance behind these results. The Company is now operating on a high-quality development trajectory, with revenue and net profit attributable to shareholdershaving grown by 21.24% and 52.59% respectively since 2021, continually setting newhistorical records. Our team maintains strategic focus while strengthening foundationalcapabilities,renewing the Company’s vibrant image and driving continuoustransformation. As we look back on our journey, each step has been illuminated by innovation,leading to a thriving ecosystem of novel products and solutions. Since 2024, we haveachieved successive historicbreakthroughs in innovative product approvals, markedby pioneering industry-first milestones: Elahere®, China’s first FRα-targeting ADC forplatinum-resistant ovarian cancer, was successfully approved;SAILEXINemerged asChina’s first biosimilar of Ustekinumab Injection; and the world’s first bedside renalfunction assessment device, having secured approval overseas, is on the verge of fullapproval in China. In the meantime, Rilonacept for Injection (ARCALYST®), aglobally innovative product used for thetreatment of Recurrent Pericarditis (RP) andCryopyrin-Associated Periodic Syndromes(CAPS),secured approval in China,thereby addressing critical unmet needs in the treatment of relevant rare diseases. Our CAR-T debut product zevorcabtagene autoleucel injection has demonstratedremarkablecommercial performance,while the ovarian cancer PARP inhibitorSenaparib Capsules successfully completed its debut on the Chinese market. HuadongMedicine is now actively embedding its innovation capabilities and therapeuticadvantages into the Chinese and global innovative medicine landscape. Through relentless innovation, we have strengthened our endogenous R&Dcapabilities, expanding our proprietary pipelines to over 80 innovative medicines. Keyadvancements includeaccelerated clinical development of GLP-1 receptor agonists(HDM1002 tablets and HDM1005 injection), FDA Orphan Drug designation for ourproprietary ADC HDM2005, and consistent presentation of breakthrough research atpremier global scientific forums. Ouropen innovation ecosystem continues to flourishthrough strategic collaborations. In 2024, the Company acquired all stake of HengbaPharma and established strategic cooperation with renowned bio-pharmaceuticalenterprises such as Imunopharm, Huisheng Pharma, Qyuns Therapeutics, Auzone, andIMBiologics Corp. from the Republic of Korea on CD19-targeting autologous CAR-TIM19 injection, Ganagliflozin Proline Tablets, Shangkeling, QX005N, and EdaravoneTablets (TTYP01). These endeavors have continuously enhanced our presence andlayout across innovative medicine pipelines in all therapeutic fields. Through collaborative synergy, we are driving integrated development across allbusiness segments. The pharmaceutical industry segment maintains steady growthmomentum, while the global aesthetic medicine business continues its expansion. Theoptical RF therapy system Renotion®(V20) and premium hyaluronic acid filler MaiLi®Extreme have successfully approved in China. Key products, including MaiLi®,Ellansé®, and KIO015, have initiated clinical registration processes in the U.S. and EU,demonstrating the growing potential of our injections and aesthetic device portfolio inthe aesthetic medicine field. The pharmaceutical business segment is diversifying itsbusiness models through retail network optimization and CSO service upgrades,further enhancing its professional service capabilities. In the industrial microbiologysegment, we have transitioned from exploration to implementation, focusing on four strategicpillars:xRNA,APIs&Intermediates,Health&Biomaterials,and AnimalHealth. We have witnessed a doubled increase in our international customer base andsignificant potential for rapid growth. Amidst the competitive tides of the industry, we navigate with both humility anddetermination. Rolling out its 8th three-year plan in 2025, the Company ushers in itscrucial mid-stream rapids, where the waters run deepest and the course demands ourutmost skill. This journey follows no easy path, but rather requires sustainedandmeasured progress. Our R&D innovations must still prove their mettle in themarketplace, for this is not yet the