According to the Zhitong Finance App, Boan Biotech (06955) announced its annual results for the year ended December 31, 2023. The group achieved revenue of 618 million yuan (RMB, same below) during the period, an increase of 19.8% over the previous year; losses attributable to shareholders were 119 million yuan, a year-on-year decrease of 64.02%; and the basic loss per share was 0.23 yuan.

The announcement stated that during the reporting period, with active marketing strategies and efficient sales execution capabilities, the group has established a professional commercialization team, thereby quickly gaining a foothold in the domestic market and laying a solid foundation for the company's subsequent transformation. With the commercialization of the two products, the Group's revenue increased rapidly during the reporting period.

As of the date of this announcement, the Group's two products (BA1101) and Boyoubei (BA6101)) have been successfully listed in mainland China (excluding Hong Kong, Macao and Taiwan regions of the People's Republic of China). The Group's revenue increased year over year during the reporting period, proving that the Group can continue to bring its biologics product portfolio to market and maintain market share. In December 2023, Boyunuo included all 5 of its indications in the latest China National Medical Insurance Drug Catalogue. As of the date of this announcement, Boyunuo has been sold to 1,688 medical institutions and channels, including 322 hospitals. In January 2023, Boyoubei obtained a medical insurance drug catalogue code. As of the date of this announcement, Boyoubei has sold to 642 hospitals and more than 820 pharmacies. Furthermore, the Group has granted Chia Tai Pharmaceuticals (Qingdao) Co., Ltd. (Chia Tai Qingdao) the exclusive right to commercialize Boyoubei in mainland China. The Group has carried out a number of post-marketing clinical observational studies on these two products. The Group believes that with medical insurance coverage, the accumulation of more clinical data, broader market coverage, and various external collaborations with experienced partners, the Group's business will continue to grow steadily.

The Group continues to consolidate the Group's R&D capabilities and industry influence. As of December 31, 2023, the Group's R&D team has 303 experienced members, covering various R&D functions such as biopharmaceutical discovery research, biotechnology research, biopharmaceutical analysis research, bioactivity research, non-clinical research, pilot process research, clinical research, regulatory matters, project management and intellectual property. From the beginning of 2023 to the date of this announcement, the Group has been granted 10 new patents worldwide and published 4 new international research papers. As of the date of this announcement, the Group has been granted 35 patents and 45 pending patent applications worldwide, and has published 15 international research papers.

The Group has sufficient production capacity to meet the current commercial demand for products. As of the date of this announcement, the Group's commercial production capacity was 9000 L, and the pilot production capacity was 700 L. The Group's multiple production lines are under construction, including production lines with a pilot production capacity of 4*500L and 1*2000L, and two commercial production lines with a production capacity of 3*2000L. In January 2024, the Group obtained GMP certification from Anvisa for the Group's biological product Boyuno, covering pharmaceutical solutions and injections. As a member of the global Drug Inspection Cooperation Program (PIC/S), ANVISA conducted a comprehensive GMP inspection over a period of five days by two Brazilian inspectors and an observer from the National Drug Administration. The inspection involves many aspects, including production workshops, quality systems, QC laboratories, public engineering and training systems. This inspection passed “zero defects”. ANVISA GMP certification is a key step in Boyuno's subsequent approval for listing, and lays a solid foundation for the Group's future global commercialization of biological products. In addition, the Group has built an intelligent data environment from production, document management, training, warehousing and other aspects to promote the integration of production data, flexible manufacturing, and intelligent management, improve production efficiency and flexibility in production and operation, optimize production costs, and ensure drug quality and patient safety. At the 2023 Pharmaceutical Industry Digital Intelligence Summit (PHDI), the Group won the “Pharmaceutical Enterprise Digital Intelligence Transformation and Intelligent Production Leading Award”.