According to Zhitong Finance App News, Sihuan Pharmaceutical (00460) released its annual results for the year ended December 31, 2023, with total revenue of approximately RMB 1,8605 million; of these, revenue from medical and aesthetic products was RMB 449.9 billion, up about 200.3% year on year, mainly due to the full liberalization of domestic epidemic control and the gradual recovery of consumer demand, the Group's medical and aesthetic platform Qianyan Space achieved phased success through channel inventory cleaning, strategic cooperation with many medical and aesthetic institutions, and vigorously promoted the 3.0 version upgrade of the marketing strategy. We have successfully achieved a sharp recovery in medical and aesthetic sales revenue.

During the year, the Group always adhered to the “innovative drug+medical and aesthetic” two-wheel drive strategy, insisted on innovation, transformation and upgrading, and achieved remarkable results. In terms of the pharmaceutical business during the year, progress in R&D and clinical registration of various products achieved phased results, including the approval for listing of an innovative drug product and three biopharmaceutical products; sales in the medical and aesthetic business made positive progress, and sales revenue rebounded sharply. As the business progresses further actively, through full implementation of the two-wheel drive strategy, the company has further consolidated its strategic goal of building a leading medical, aesthetic and biopharmaceutical company in China.

During the year, through the business upgrade and development of the 3.0 marketing version, the Group's medical and aesthetic platform Beauty Space successfully achieved a sharp recovery in medical and aesthetic sales revenue, further consolidating its ability as an international medical and aesthetic platform integrating R&D, production and sales. During the year, Beauty Space launched the 3.0 era of refined medical and aesthetic operations, comprehensively strengthened cooperation with leading group hospitals and leading regional institutions, and increased the number of agents in empty areas to achieve full coverage of China's 34 provincial administrative districts. At the same time, Qiyan Space carried out activities through multiple dimensions such as products, live broadcasts, operations, and medical exchanges to enhance precise coverage of multi-level personnel such as doctors, operations, consulting, marketing, and management personnel. As of February 29, 2024, Beauty Space's sales channels have covered more than 350 cities and more than 4,700 medical and aesthetic institutions across the country, and the coverage rate for the top 500 medical and aesthetic institutions has reached 100%. Currently, Beauty Space has launched more than 40 medical and aesthetic products under development, and has basically completed the management of the entire life cycle of beauty lovers. Among them, the botulinum toxin already on the marketand Hyaluronic Acid Platinum EnmoisturizerIt has won the love and recognition of medical and aesthetic institutions and consumers.

During the year, Xuanzhu Biotech rapidly advanced the development of a number of products, and substantial progress was made in many products. Among them, amneprazole sodium enteric tablets (trade name: Anjiuwei)) As the first proton pump inhibitor (PPI) Class 1 innovative drug independently developed in China with independent intellectual property rights, it was approved for marketing by the State Drug Administration in June 2023, and successfully included in the national medical insurance catalogue in the year it was marketed.

R&D expenditure during the year was approximately RMB 577.7 million, down 38.3% from the previous year, mainly due to the completion of phase III clinical trials of several products independently developed by the Group (including innovative drugs, biopharmaceuticals and generic drugs). Some of these products were applied for listing or approved for listing at the end of 2023. At the same time, several R&D projects of Huisheng Biotech, a subsidiary of the Group, have been completed and reported for production.