Luye Pharmaceutical Group Co., Ltd. (“the Company”, together with its subsidiaries, collectively the “Group”) is committed to the development, production, promotion and sale of innovative drugs in the four largest and fastest growing treatment fields (i.e., oncology, central nervous system (“central nervous system”), cardiovascular system, and digestion and metabolism) in the People's Republic of China (“China”), the United States of America (“the United States”), Europe and other countries or regions. The Group's product portfolio includes more than 30 products, covering more than 80 countries and regions around the world, including the large pharmaceutical markets China, the United States, Europe and Japan, as well as rapidly developing emerging markets. The Group has established a huge national sales and distribution network. In the first half of 2023, its products were sold to 31 provinces, autonomous regions and municipalities across the country. The Group carries out sales, marketing and distribution work through a network of about 1,000 sales and marketing personnel and about 1,760 dealers across the country, and has jointly enabled the Group to sell its products to more than 21,660 hospitals. The Group's business covers 80 countries and regions, including the United States, European Union (“EU”) countries, Japan, the Association of Southeast Asian Nations (“ASEAN”), Latin America, the Gulf Cooperation Council (“GCC”) region and other emerging countries or regions. The Group also has strong sales partnership relationships, with more than 50 partners worldwide. The Group's research and development (“R&D”) activities are comprised of four chemical drug platforms, namely long-acting and sustained-release technology, liposomal and targeted delivery, transdermal drug delivery systems, and novel compounds. The Group has expanded its R&D capabilities to the biological field supported by Boan Biotech's three cutting-edge platforms, namely the Whole-Human Antibody Transgenic Mouse and Phage Display Technology Platform, the Bispecific T Cell Coupling System Technology Platform, and the Antibody-Coupling Drug (“ADC”) Technology Platform. The Group strategically allocates resources to develop proven compounds and novel drugs, biosimilars and proprietary formulations for novel antibody products to balance clinical development risks. The Group believes that its R&D capabilities will be the driving force for the Group's long-term competitiveness and future growth and development. As of June 30, 2023, the Group's R&D team comprised 908 employees, including 79 PhDs and 447 masters in medicine, pharmaceuticals and other related fields. As of June 30, 2023, the Group obtained a total of 272 patents in China and 74 patents in the application stage, 481 patents overseas, and 186 patents in the application stage. The Group intends to continue investing in products developed in the four strategic treatment areas of oncology, central nervous system, cardiovascular, and digestion and metabolism. As of June 30, 2023, the Group has 39 products under development in China at various stages of development. The drugs under development include 13 oncology products, 12 central nervous system products, and 7 other products. In addition, the Group has 15 products under development in the US, Europe and Japan at various stages of development.
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