Gelonghui, March 25 | Goli Pharmaceutical-B (01672.HK) announced that for the year ended December 31, 2023, the company's revenue increased 4.6% from approximately RMB 54.1 million in the previous year to approximately RMB 56.6 million. The Group's total revenue (including revenue and other revenue and revenue) increased by 45.2% from approximately RMB 166.1 million in the previous year to approximately RMB 241.2 million. The Group's loss during the year was reduced from RMB 314.8 million in the previous year to RMB 144.7 million, mainly due to (i) an increase in product sales revenue; (ii) a decrease in sales costs due to improved inventory management; and (iii) an increase in the Group's other revenue and earnings, mainly due to bank interest income and income from the initial public sale of Sagimet Biosciences in the NASDAQ stock market in 2023.

The Group's R&D costs decreased by 18.8% from approximately RMB 267.1 million in the previous year to approximately RMB 216.8 million in the same year, mainly due to (i) increased R&D efficiency for clinical and pre-clinical projects; and (ii) reduced depreciation and amortization costs for intangible assets.