Genovate Biotechnology CO., LTD.

Climate Impact & Sustainability Data (2023)

Replaced heavy oil with natural gas for boiler fuel, reducing environmental impact.
Implemented waste sorting and paper recycling policies.

Provided employees with comprehensive annual health checkups, including cancer screening.
Offered group insurance (including spouse/children coverage) and various welfare benefits.
Maintained harmonious labor-management relations through regular meetings and employee incentives.
Achieved “Accredited Healthy Workplace” designation from the Health Promotion Administration of MOHW.

Established an audit committee and a remuneration committee.
Implemented a comprehensive internal control system.
Consistently aligned planning and business strategies with corporate governance principles.
Completed board of directors' performance evaluation with a high overall score.

Long-term Goals:

Continuously generate profits, maintain sustainable operations, and fulfill corporate social responsibilities.

Medium-term Goals:

Implement the innovative R&D mode of industry-academia collaboration and industry alliances.
Enhance the company's value through strategic alliances.

Short-term Goals:

Invest in factory software and hardware to enhance PIC/S GMP production quality and expand production capacity.
Reduce raw material costs and improve production processes.
Expand into other biomedical product fields.

High risk in developing new drugs.
Long product development schedules.
Tightening of drug price reimbursements by the National Health Insurance.
Lack of experience in supplying and selling medicines to large hospitals.
Global supply chain remains turbulent due to geopolitical rivalries and conflicts.

Develop new drugs with lower risks, seeking joint development partners and government subsidies.
Effectively control product development schedules and collaborate with international pharmaceutical companies.
Actively expand into the international market and develop non-reimbursable items.
Cultivate relationships with main department doctors and patient associations.
Establish a flexible procurement system and conduct an exhaustive search for raw material suppliers.
Invest in new automated machinery and tools to enhance the production process.

Supplier Audits: 203 suppliers audited in 2023

Diverse procurement strategy with at least two suppliers for each main raw material.
Strict quality standards, inspection, and evaluation procedures for upstream and downstream manufacturers.

Frameworks Used: IFRS

Certifications: PIC/S GMP

Third-party Assurance: PricewaterhouseCoopers Taiwan

Accredited Healthy Workplace designation from the Health Promotion Administration of MOHW