According to Zhitong Finance App, Federal Pharmaceuticals (03933) announced its 2023 annual results announcement, with revenue of about 13.74 billion yuan (RMB, same below), up 21.2% year on year; annual profit attributable to company owners of 2,701 billion yuan, up 70.9% year on year; basic profit per share 148.67 points; proposed final dividend of 28 points per share and special dividend of 12 points per share, along with the annual dividend of 52 points per share.

According to the announcement, GLP-1 drugs are booming, major products continue to emerge, and the expansion of many new indications has further spawned huge market potential. Focusing on the GLP-1 target, the Group has laid out a differentiated product pipeline combining innovative drugs and biosimilar drugs. During the year, the Class 1 innovative drug UBT251 injection was approved for clinical trials in China and the US, and the group became the first domestic company and the second in the world to be approved for clinical trials of the three long-acting GLP-1 (glucagon-like peptide-1) /GIP (glucose-dependent insulin-promoting polypeptides) /GCG (glucagon) agonists prepared by chemically synthesizing polypeptides; simeglutide injections and liraglutide injections have also made positive progress. The Group focuses on the fields of metabolism, autoimmunity, ophthalmology and anti-infection, and continues to expand the pipeline of new drugs being developed. TUL12101 eye drops, a new class 1 drug to treat dry eye syndrome, and TUL01101 tablets, a new class 1 drug to treat moderate to severe atopic dermatitis, were approved for clinical trials during the year. This year, the Group invested 808.3 million yuan in R&D, an increase of 36.2% over the previous year.

Innovation is the fundamental driving force for enterprise development. Relying on a complete R&D system and mature R&D platform, the Group will continue to promote the R&D and marketing process of new drugs, expand the layout of research fields from an international perspective, improve the high-end talent team building, and continuously enhance the Group's competitiveness and creativity.

During the year, market prices for intermediates and APIs rose steadily, driven by a recovery in demand represented by overseas markets. Overall, the domestic market showed a good trend of maintaining steady growth and accelerating development in overseas markets. By establishing trade relationships with BRICS countries and countries along the “Belt and Road” and continuing to expand global sales networks and cooperation channels, the Group's upstream products have covered nearly 80 countries and regions around the world, serving more than 600 customers in China and the world. We will continue to strive to build a leading global antibiotic raw material enterprise.

In November 2023, the group began construction of an API project at Gaolan Port in the Federation of Zhuhai. The project will realize the production of products such as sterile cephalosporin APIs and sterile enzyme inhibitor APIs. Build an intensive, automated, intelligent and large-scale pharmaceutical production base, promote industrial upgrading, and help the Group develop with high quality.