LEVEL Business Summary

Level Biotechnology Inc. (3118.TWO) operates a dual-revenue model centered on biomedical product distribution and preclinical contract research organization (CRO) services. The distribution segment, which contributes approximately 81% of total revenue, acts as a leading Taiwanese intermediary for global brands such as Agilent and Thermo Fisher, supplying laboratory reagents, consumables, and precision instruments to a client base of over 6,000 academic and industrial entities. The remaining 19% of revenue is derived from its preclinical CRO division, providing a "one-stop-shop" for toxicology, pharmacology, and biocompatibility testing. As the largest private preclinical CRO in Taiwan, Level maintains a 2,350-ping SPF animal facility and holds AAALAC accreditation alongside GLP certifications from the US FDA, OECD, and Japan’s PMDA. It maintains a competitive edge over regional peers like Arich Enterprise (4173.TWO), Hi-Clearance (1788.TWO), and CHC Healthcare Group (4164.TW) by integrating its high-volume distribution logistics with specialized technical services for emerging sectors like cell therapy and nucleic acid drugs. The company was founded in 1989 by Chairman Chun Long Qiu (Qiu Chun-Long), a graduate of Yuanpei University of Medical Technology who transformed the firm from a trading house into a vertically integrated research partner. The current executive leadership includes General Manager Yeh Chia-Hsien, who assumed the role in May 2025 following a successful tenure as Vice President of Marketing, and Financial Vice President Lee Yi-Hsien, who oversees corporate strategy and investor relations. The board of directors is composed of industry veterans and representatives from major institutional investors, including Emerson Investment and Huiling Investment Co., Ltd., as well as long-standing director Chang Yung-Feng. This management team is characterized by its technical pedigree in laboratory sciences and a disciplined fiscal approach, resulting in a debt-free balance sheet and a consistent dividend policy as of March 2026. Their strategic focus on international regulatory compliance has positioned Level as a critical gateway for global pharmaceutical firms entering the Taiwanese research ecosystem.