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. tumors, 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 large-scale pharmaceutical markets China, the United States, Europe and Japan, as well as rapidly developing emerging markets. As far as the Chinese market is concerned, the Group has established a huge national sales and distribution network. In the first half of 2024, its products will be sold to 31 provinces, autonomous regions and municipalities directly under the Central Government. The Group carries out sales, marketing and distribution work through about 1,000 sales and marketing personnel and a network of about 1,650 dealers across the country, which together enabled the Group to sell its products to more than 21,450 hospitals. As far as the global market is concerned, 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 partner relationships, with more than 50 partners worldwide. The Group's research and development (“R&D”) activities are comprised of four chemical platforms, namely long-acting and sustained-release technology, liposome and targeted drug delivery, transdermal drug delivery systems, and novel compounds. The Group has expanded its R&D capabilities to the biological field supported by the four cutting-edge platforms of Shandong Boan Biotechnology Co., Ltd. (“Boan Biology”), namely the whole-human antibody-transgenic mouse and bacteriophage display technology platform, the bispecific T-cell bridging system technology platform, the antibody-conjugated drug (“ADC”) technology platform and cell therapy platform. The Group balances clinical development risks by strategically allocating resources to develop proven compounds and novel drugs, biosimilars and proprietary formulations of innovative biopharmaceuticals. The Group believes that its R&D capabilities will become the Group's long-term competitiveness and the driving force for future growth and development. As of June 30, 2024, the Group's R&D team consists of 720 employees, including 66 doctorates and 351 master's degrees in medicine, pharmaceuticals and other related fields. As of June 30, 2024, the Group has obtained a total of 272 patents and 66 patents are in the application stage in China, and a total of 552 patents have been obtained overseas and 123 patents are in the application stage. The Group will continue to invest in products developed in the four strategic treatment fields of oncology, central nervous system, cardiovascular and metabolism. As of June 30, 2024, the Group has 27 products under development in China at various stages of development. The drugs under development include 18 types of tumor products, 5 types of central nervous system products, and 4 other products. In addition, the Group has 11 products under development in the US, Europe and Japan at various stages of development.
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