Uni-Bio Science Group Limited Announces 2024 Annual Results

Record-Breaking Revenue of HK$553.0M and Net Profit of HK$82.8M

First-ever Dividend was HK$0.277 Cents Per Share

Strengthening Presence in Osteoporosis, Ophthalmology, and Aesthetic Medical Markets

 

(27 March 2024 – Hong Kong) A fully integrated biopharmaceutical company – Uni-Bio Science Group Limited (“Uni-Bio Science”, together with its subsidiaries referred to as the “Group”, stock code: 0690.HK), is pleased to announce its annual results for the year ended 31 December 2024 (the “Period”).

 

Key Accomplishments in 2024

During the Year, the Group achieved a spectrum of accomplishments, for both of its marketed products and innovative biologics. The key highlights include:

 

1. The Group recorded a 14.1% year-on-year (“YoY”) increase in revenue, reaching approximately HK$553.0 million. With its approval in January 2024 and subsequent launch in March 2024, Bogutai® achieved sales of HK$62.9 million, exceeding initial expectations.

 

2. Profit for the Year soared by16.8% YoY to approximately HK$82.8 million, marking a historic high. These results reaffirm the Group’s solid market position and its ability to deliver sustainable, high-quality growth as a leading biopharmaceutical company.

 

3. The board of directors (“Board”) has declared a dividend payment for 2024 of HK$0.277 cents per share, marking the historic first for the Company. This is particularly encouraging, as it represents an important milestone for a research-oriented biopharmaceutical company. The Board is also pleased to announce the approval and adoption of a dividend payout policy of no less than 20% of its net profit for the current year.

 

4. In January 2024, the China National Medical Products Administration (“NMPA”) officially approved the launch of Bogutai®, marking a major breakthrough for the Group in osteoporosis and orthopedic disease management. Since its market debut in early 2024, Bogutai® has gained remarkable traction, achieving a patient retention rate exceeding 70%.

 

5. In December 2024, the Group successful launch its self-developed medical aesthetics product, 肌顏態®. The recombinant collagen dressing, developed in collaboration with Chongqing Minji Medical Device Co., Ltd., received Class II medical device approval, reinforcing the Group’s commitment to innovative skin repair solutions.

 

6. In January 2024, the NMPA officially accepted the marketing application for Diquafosol Sodium eye drops, marking a key milestone in the Group’s ophthalmology drug pipeline. During the Year, the Group has already submitted additional data to the Center for Drug Evaluation (CDE). Diquafosol Sodium is expected to receive the marketing approval in the first half of 2025.

 

7. During the Year, the Group completed the pharmaceutical research and pre-Bioequivalence studies of Esaconazole sulfoate capsules. The formal Bioequivalence trials has been initiated in 2025 to accelerate the launch process.

 

8. In May 2024, the Group cooperated with Great Bay Bio (GBB) and Pebble Accelerator, a subsidiary of Tigermed to joint development of innovative weight reduction drugs, aiming to revolutionize the treatment of obesity. Through this collaboration, we seek to establish a comprehensive ecological industry chain, spanning from target discovery to antibody generation, druggability verification, process development, clinical pipeline, and ultimately, commercialization.

 

Annual Results

In 2024, the Group recorded a revenue of approximately HK$553.0 million, representing an increase of 14.1% YoY. The increase in revenue was mainly attributable to the favorable sales performance of the Group’s newly launched product Bogutai®. The Group’s newly launched product Bogutai® achieved sales of HK$62.9 million, exceeding initial expectations. Pinup® recorded a decrease of 2.9% in revenue from approximately HK$247.4 million to approximately HK$240.3 million for the Year. During the Year, the Group was re-selected for the centralized procurement, with a validity period of two years. However, the Group adopted a more selective approach to supplying hospitals in response to certain local policy adjustments. During the Year, revenue generated from GeneTime® was approximately HK$197.9 million, representing an increase of 6.7% YoY. The increase was attributed to the expansion of the Group’s hospital network and additional sales channels beyond hospitals, such as pharmacies and              e-commerce              platforms. GeneSoft® recorded an increase in revenue from approximately HK$41.3 million to approximately HK$42.5 million, representing an increase of 2.9% YoY. Revenue from Boshutai® declined from approximately HK$10.4 million to approximately HK$9.4 million, representing a decrease of 10.2%. During the Year, Boshutai® was successfully included in the centralized procurement by the Henan Seventeen Provinces Alliance and the procurement validity period is set for two years, which secured the Group with new in-hospital orders.

 

Gross profit was approximately HK$461.1 million, representing an increase of 17.4% as compared with approximately HK$392.8 million in 2023, and gross profit margin increased by 2.4 percentage points YoY to 83.4%. The Group has optimized its supply chain to enhance raw material procurement competitiveness, improve scaling efficiency, and reduce procurement and production costs, achieving greater economies of scale. Thanks to the Group’s diligent internal control, general and administrative expenses accounted for merely 9.2% of revenue in 2024 as compared with 9.8% in 2023. The selling and distribution expenses for the Year also decreased to 47.3% of revenue from 49.8% in 2023, mainly due to the marketing expenses decreased. The R&D expenses increased by47% YoY to approximately HK$52.3 million, aligning with the Group’s multi-pipeline research progress.

 

The Group achieved another year of record-breaking profit of approximately HK$82.8 million for the Year, marking an impressive increase of 16.8% YoY. This remarkable achievement was fueled by the successfully launch of the new product Bogutai®, along with the consistent demand for other marketed drugs, stringent cost management, and ongoing supply chain enhancements. This sustained profitability strengthened the Group’s foundation for long-term success in the years ahead.

 

Prospects

Recent advancements in biotechnology, coupled with strong government support, position China's pharmaceutical landscape for substantial growth, with a projected compound annual growth rate (CAGR) of 7.5% from 2024 to 2032, according to the IMARC Group. This expansion is driven by technological innovations and a growing elderly population increasingly susceptible to chronic conditions such as diabetes, which boosts pharmaceutical demand. Concurrently, the aesthetic medical sector is emerging as a significant market force, with forecasts indicating a CAGR of 10% to 15% from 2024 to 2027, primarily fueled by rising beauty standards and increased spending among individuals with moderate to high incomes. With the two industries being the Group’s core R&D focuses going forward, it showcases a great potential for the Group to rapidly grow and capture the market shares.

 

Mr. Kingsley Leung, Chairman of Uni-Bio Science commented, “I am proud to announce that we have reached significant milestones this year, both financially and operationally. As our efforts begin to bear fruit, I am deeply grateful for the unwavering, long-term support of our shareholders. In recognition of this, I am delighted to share two landmark decisions: the declaration of our inaugural dividend and the establishment of a forward-looking dividend payout policy of no less than 20% of its net profit for the current year. These actions reaffirm our steadfast commitment to delivering on our objectives while creating and sustaining value for our shareholders.

 

Looking forward, we remain steadfast in our commitment to innovation and seizing opportunities within both the pharmaceutical and aesthetic medical sectors. Our vision has consistently focused on diversifying our product offerings while leveraging our strengths in endocrinology, ophthalmology, and dermatology. We are delighted to announce the successful launch of Bogutai® Following this milestone, we will continue to develop best-in-class products, including a PTH microneedle formulation that is less invasive and offers higher bioavailability, as well as a novel antibody drug for weight loss. Significant advancements have also been made in our series of EGF products. Preparations for pilot plant testing of the EGF hydrogel are underway, and Diquafosol Sodium Eye Drop slated for launch in the second quarter of 2025. Additionally, The formal Bioequivalence trials for Esaconazole sulfoate capsules has been initiated in 2025 to accelerate the launch process.

 

In the aesthetic medical segment, we are excited about the launch of肌顏態® in late December 2024. Building on this momentum, we will accelerate the introduction of other new product lines in 2025 based on Skbrella™ FN. Additionally, we plan to introduce collagen and beauty peptides as advanced skincare raw materials this year. By leveraging our expertise in GeneTime® and 肌顏態®, we aim to create a comprehensive skincare solution for emergency skin repair and stabilization. To foster our product innovation, we are utilizing two new key technology platforms: advanced synthetic biology platform and hydrogel technology. These platforms are expected to drive our product expansion.

 

To enhance our reach and support product launches, we are expanding our sales channels beyond traditional public and private hospital networks to include pharmacies, online platforms, and aesthetic medical institutions. We are also exploring international markets to bolster our global presence. By adopting a diversified distribution strategy, the Group aims to secure future sales growth while reducing its dependence on regional markets and traditional channels. In support of our company's growth, the infrastructure for our new factory in Dongguan was fully completed in 2024, marking a significant milestone in our expansion plans. A state-of-the-art BFS packaging line has also been featured, which we believe will enable the Group to command a premium in the market. With these strategic focuses and our commitment to rapid advancement, the Group is well-positioned to solidify its leadership in these dynamic industries and achieve lasting success in the years ahead.”

 

About UNI-Bio Science Group Limited

 

Uni-Bio Science Group Limited is principally engaged in the research and development, manufacture and sales of pharmaceutical products. The research and development center is fully equipped with a complete system for the development of genetically-engineered products with a pilot plant test base which is in line with NMPA requirements. The Group also has three GMP manufacturing bases in Beijing, Dongguan and Shenzhen. The Group also has a highly efficient commercialization platform and marketing network. The Group focuses on the development of novel treatments and innovative drugs addressing the therapeutic areas of endocrine such as diabetes and osteoporosis, ophthalmology and dermatology.

 

Uni-Bio Science Group Limited was listed on the Main Board of the Hong Kong Stock Exchange on November 12, 2001. Stock code: 0690.

 

For further information, please contact: ir@uni-bioscience.com