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Dear colleagues,
2020 is certain to be an unforgettable year for all of us.
The COVID-19 pandemic has caused in major changes in China and around the world, and posed the greatest challenges that our business has ever faced. However, in facing these challenges, our colleagues have demonstrated exceptional resilience and determination, and have worked tremendously well together in overcoming them. Thanks to your amazing efforts, Luye Life Sciences Group has maintained healthy development, and all business sectors are operating smoothly.
On behalf of the Board of Directors of Luye Life Sciences Group, I wish to express my heartfelt gratitude to all the hardworking people at Luye, and to give my sincerest thanks to all of our customers and partners, as well as government workers, for their care and support for Luye.
With the pandemic posing a serious threat to people's health and livelihoods, we feel the call of our mission and duty to support people's healthcare needs more deeply than ever before. The Group immediately made a donation to support Wuhan after the initial outbreak. We also actively delved into our life science expertise to contribute in the fight against the virus. Despite a series of hurdles, we never swayed from the path of putting patients first, nor spared any effort in guaranteeing the clinical supply of our medicines to meet our patients’ healthcare needs.
In 2020, while maintaining the healthy operation of our business, Luye Pharma has focused on key R&D projects and made a number of breakthroughs. Multiple new drugs have made it through into late clinical development stages and NDA filing, meanwhile, further strategic cooperation with partners was made possible for further business development opportunities. In terms of overseas business, we achieved good results in building our international commercial infrastructure, effectively increasing the market coverage of our existing products and laying a solid foundation for the market access of our future products.
In 2020, Luye Medical optimized business models according to the needs of patients, including the exploration of new opportunities in online mental health services in Australia and the acceleration of efforts to bring the leading Australian mental health service system to China, through Mindfront Health. Our diagnostics business made contributions to the global fight against the virus by making an all-out effort to enhance its COVID-19 testing capacity, and getting in house-developed COVID-19 testing reagents approved in multiple countries and regions for emergency use.
My dear colleagues, every industry alike is facing difficulties under the pandemic. Although the challenges are unprecedented, history tells us that strategic opportunities arise in every major crisis. On the one hand, we can view this crisis as an opportunity to cement our foundation, to comprehensively reflect on our management system, and to further improve our organizational capability and management efficiency. On the other, with the global impact of the pandemic expected to last for a considerable period of time, we should think preemptively, identify potential risks in advance, make changes and innovations closely aligned with our strategic goals, and ensure that the main targets for each business sector are achieved in 2021.
In 2021, our pharmaceutical business is expected to launch multiple new products in the fields of the central nervous system and oncology. We will work full steam ahead to accelerate the launch of these products so that more patients can benefit from effective therapies sooner. We will continue to move decisively down the road of "innovation" and "internationalization". We will go deeper and adopt more locally relevant approaches based on our existing international footprint to drive business growth in various overseas markets. Innovation and R&D are at the core of our competitiveness. We must take action for the future, and speed up our transformation and upgrades centered on cutting-edge technologies.
In 2021, our medical business will make strides in providing value-based healthcare, exceptional services in certain specialized areas, and digital health services. Our diagnostics business will become more focused on the strategic direction of virus and pathogen diagnosis, and integrate diagnostic solutions across different technological platforms to help improve the efficiency and quality of clinical decision making.
The past development and future planning for Luye Life Sciences Group’s four business sectors, pharmaceuticals, medical services, diagnostics, and new technology investment and development, as well as our relentless efforts to become better at what we do, all clearly point to our original aspiration: We strive to provide better products, technologies and services along the patient service value chain to better meet patients’ needs and improve their experience throughout their disease management journey. This is where our value lies and where our mission is derived from. Moving forward, we will continue to explore opportunities for integration along the life sciences industry chain, double down on realizing technical and commercial synergies, and create new value for the future development of the Group.
For all of us at Luye, COVID-19 has inspired deeper thought about our responsibilities as a healthcare company. We must always keep patients and customers at the forefront of our minds, and must remain "Passionate for Life" in everything we do. This is why we exist. This is our core value, and one which brings everyone at Luye all over the world together.
Looking ahead into 2021, we believe that we are still in a golden age of opportunity for the healthcare industry. Let us seek out the opportunities amid the crisis to open new horizons amid these changes. Let us embrace the new year with confidence and courage.
Lastly, I wish all colleagues and your loved ones around the world health and happiness in 2021. Happy New Year!
Chairman of the Board, Luye Life Sciences Group