Apeloa pharma wins drug approval, guarantees subsidiary loan

Apeloa Pharmaceutical has obtained a drug registration certificate for Levocarnitine Injection, a Class 4 chemical drug. The drug is approved for patients with chronic renal failure undergoing hemodialysis who experience carnitine deficiency, addressing symptoms such as cardiomyopathy and arrhythmia. The company’s cumulative R&D investment for this product totals RMB 3.7629 million. In 2024, the Chinese market size for Levocarnitine Injection reached 103 million units, with sales of RMB 965 million.

In a separate development, Apeloa Pharmaceutical has provided a joint and several liability guarantee for a RMB 50 million short-term working capital loan to its wholly-owned subsidiary, Zhejiang Apeloa Jiayuan Pharmaceutical Co., Ltd. The one-year guarantee supports a loan from the Agricultural Bank of China. This action aligns with the company's previously approved resolution to provide financing guarantees for its subsidiaries, totaling up to RMB 7.1 bn.

The company's board believes this guarantee, with an outstanding balance of RMB 393.217 million (representing 58.32% of Apeloa Pharmaceutical's net assets as of 2024 audited figures), is manageable and will not pose significant financial risks, supporting the subsidiary’s daily operations.