Annual Report 2023

MANAGEMENT DISCUSSION AND ANALYSIS 11 The United Laboratories International Holdings Limited Annual Report 2023 The operating results of each segment of the Group are summarised as follows: Intermediate Products and Bulk Medicine During the year, the intermediate products and bulk medicine segment recorded external sales of approximately RMB2,316.9 million and RMB6,399.2 million, respectively, representing a year-on-year increase of 44.9% and 23.7%, respectively. The rebound in demand represented by overseas markets has led to a steady rise in the market prices of intermediate products and bulk medicine related products. Overseas export recorded sales of RMB2,615.6 million, representing a year-on-year increase of 10.3% and accounted for 19.0% of total revenue of the Group. The Group continued to occupy a leading position in the domestic and export market of intermediate products and bulk medicine. The bulk medicine production base of the Group located in Gaolan Port, Zhuhai City, commenced construction in November 2023. The base plans to cover a total floor area of approximately 120,000 square meters. It will mainly construct three bulk medicine workshops for sterile cephalosporin, one workshop for sterile enzyme inhibitors, one workshop for ordinary chemical drug and a series of associated facilities. It will improve the intensive, automatic and intelligent level of the Group’s bulk medicine production, and expand the business scale. Finished Products During the year, the external sales of finished products was approximately RMB5,023.8 million, representing a year-on-year increase of 10.2%. Diabetic drugs recorded the sales revenue of approximately RMB1,117.6 million, representing a decrease of 4.9% year-on-year. Among them, the human insulin recorded the sales revenue of approximately RMB506.6 million. The insulin analog recorded the total sales revenue of approximately RMB611.0 million, and the sales volume remained rapid growth during the year. Antibiotic products, including veterinary drugs, recorded the sales revenue of RMB3,532.8 million, representing an increase of 15.3% year-on-year. In detail, the tazobactam sodium for injection recorded the sales revenue of RMB676.6 million, representing an increase of 0.6% year-on-year. Amoxicillin capsules recorded sales revenue of RMB546.9 million, representing a decrease of 5.5% year-on-year. During the year, the tazobactam sodium for injection of the Group (specification: 4.5g) successfully won the bid for the eighth batch of centralised drug procurement of the state.