Today, Chaileedo learned that Shandong Freda Biotechnology Co., Ltd. (referred to as “Freda Biotechnology”) recently held its 2023 Annual Shareholders’ Meeting and announced the completion of the election for the new Board of Directors and Supervisory Board. Gao Chunming was elected as the Chairman of Freda Biotechnology.
According to publicly available information, the newly appointed chairman, Gao Chunming, is 56 years old, born in July 1968. He is a member of the Communist Party of China and holds a college degree. He has served as the General Manager of Freda Biotechnology and Assistant General Manager and Deputy General Manager of Shandong Freda Pharmaceutical Group Co., Ltd.
According to an announcement released by Lushang Freda Pharmaceutical Co., Ltd., the former chairman of Freda Biotechnology, Jia Qingwen, is 53 years old. From January 2019 to January 2021, he served as the General Manager of Shandong Freda Pharmaceutical Group Co., Ltd. From September 2021 to September 2023, he served as the Secretary and Chairman of the Party Committee of Shandong Freda Pharmaceutical Group Co., Ltd. From January 2022 to the present, he has served as the Secretary and Chairman of Lushang Freda Pharmaceutical Co., Ltd.
At the shareholders’ meeting, Gao Chunming expressed heartfelt thanks to all shareholders for their long-term support for the development of Freda Biotechnology, and stated that after the dividend distribution, the company’s cumulative dividend amount reached 373.6 million yuan ($51.45 million), far exceeding the industry average. In order to further consolidate and enhance Freda Biotechnology’s market position, the company will increase its investment in fixed assets and plan to invest nearly 120 million yuan ($16.53 million) in the construction of clean workshops and three-dimensional warehouses in the industrial park.
According to the disclosed financial report, the operating income of Freda Biotechnology’s parent company, Lushang Freda Pharmaceutical Co., Ltd. (referred to as “Lushang Freda”), in 2023 was 4.578 billion yuan, a year-on-year decrease of 64.65%. The net profit attributable to shareholders of the listed company was 303 million yuan ($41.73 million), a year-on-year increase of 567.44%. Among them, the revenue of the cosmetics division operated by Freda Biotechnology was 2.416 billion yuan ($332.7 million), a year-on-year increase of 22.71%. The annual revenue of its two major brands, Yilian and Dr. Aier, were 857 million yuan ($118 million) and 1.348 billion yuan ($185.6 million), respectively, with year-on-year growth rates of 20.35% and 27.33%.
In addition, in the first quarter of this year, Lushang Freda achieved operating revenue of 891 million yuan ($112.7 million), a year-on-year decrease of 29.99%, and a net profit attributable to the parent company of 59.0367 million yuan ($8.13 million), a year-on-year decrease of 54.35%. The cosmetics division achieved revenue of 544 million yuan ($74.92 million) in the first quarter of this year, a year-on-year increase of 15.12%. The revenue of the Dr. Alva reached 294 million yuan ($40.49 million), a year-on-year increase of 20.63%, and the revenue of the Rellet reached 200 million yuan ($27.54 million), a year-on-year increase of 17.45%
