Glonghui, March 28 | Hualing Pharmaceutical announced its 2023 results. The company's first commercial product, dogliestine, was successfully included in the national medical insurance drug catalogue. The medical insurance payment standard is RMB 5.39 per tablet, which is equivalent to RMB 10.78 per day for taking medication twice a day according to approval, making it one of the most favorable prices for oral anti-diabetic drugs in medical insurance payment standards so far. The company has reached several milestones related to the development of doglitin in 2023 and received a non-refundable milestone payment of RMB 800 million. The new version of the national medical insurance drug catalogue was implemented on January 1 of this year. The company expects sales of dogliastine to increase after it is included in the national medical insurance drug catalogue. At the same time, the company also announced progress in new indications in combination with existing treatments and fixed dose combinations of doglitin and other oral antidiabetic drugs (OAD). Furthermore, the company is advancing second-generation GKA to phase I research in the US and developing clinical development plans for diabetic patients with obesity. In 2023, Hualing Pharmaceutical's total revenue was approximately RMB 76.6 million, and total other revenue was approximately RMB 130.6 million; R&D expenditure increased by about 32% to RMB 171.5 million in 2023; and pre-tax losses increased by 4% to approximately RMB 211.2 million. As of December 31, 2023, the company's cash balance was RMB 1,461 billion.