Year in Review

Reflecting on the past year, 2023 indeed stands out as a remarkable chapter in Sirio's history. This year, we celebrated Sirio’s 30th anniversary—a journey of success defined by innovative product launches, strategic partnerships, and substantial growth.

In 2023, Sirio achieved significant milestones, expanding its market reach, entering new territories, and solidifying a stronger global presence. The acquisition of Best Formulations, a leading nutritional supplements contract manufacturer in the US, extended Sirio's contract manufacturing capabilities to three continents, aligning seamlessly with our global strategy of delivering innovative, high-quality products worldwide. The integration of Best Formulations not only enhances our capacity but also fosters global R&D collaboration, provides local market insights, and diversifies our products and services. Notably, in October 2023, Best Formulations introduced gummy manufacturing capabilities, leveraging Sirio's 16 years of experience in delighting customers with the best-tasting gummies in the market.

Sirio also made notable advances in expanding our market reach in other regions like Latin America. Our participation in key events, such as Food Ingredients South America in Brazil in August, opened new market opportunities. Additionally, our presence at events like Expo West, NBJ Summit, Expo East, and SupplySide West allowed us to connect with customers face-to-face, building relationships based on trust.

Recognizing the importance of corporate responsibility, Sirio has taken substantial steps toward sustainability. The implementation of eco-friendly practices reflects our commitment to environmental stewardship. At the NBJ Summit, our Attendee Bag Sponsorship featured bags made from eco-friendly rPET recycled fabric with webbing crafted from recycled plastic bottles. In 2023, Sirio Pharma and Best Formulations achieved a silver rating in the EcoVadis sustainability audit. Additionally, Sirio Pharma and Sirio Europe were honored with the prestigious Friend of the Sea Certification for a wide range of fish oil softgel products. Making significant strides in our commitment to sustainable and responsible business practices remains a top priority.

Staying at the forefront of technological advancements, Sirio has made great progress toward innovation and efficiency, fully automating our Ma’anshan warehouse. This significant technology investment is not just a leap forward in our capabilities; it is a testament to our commitment to sustainable practices. By automating our warehouse operations, we are not only enhancing accuracy and reducing turnaround times but also optimizing resource usage. Our commitment to technological innovation has positioned Sirio as a pioneer in adopting transformative solutions.

Strategic collaborations with key industry players were instrumental in strengthening our position in the market. For instance, Sirio Europe's partnership with Lonza to launch a UC-II? gummy product reflects the success of these alliances, promoting knowledge exchange and the development of mutually beneficial solutions.

?In 2023, Sirio made substantial investments in the professional development and well-being of our employees. Training programs, mentorship initiatives, and engagement activities were implemented to ensure our team remains motivated, skilled, and passionate about contributing to Sirio's success.

As we reflect on the achievements of 2023, we express gratitude to every member of the Sirio family—employees, partners, and stakeholders—for their unwavering support and commitment. The challenges we faced only strengthened our resolve, and the successes we celebrated are a testament to the collective effort of a remarkable team.

Looking ahead to 2024, we are excited about the opportunities that lie ahead and are confident that, together, we will continue to achieve new heights of success.