Asymchem Laboratories (Tianjin) Co., Ltd. (ASYMCHEM) released its audited results for the year ended 31 December 2025, reporting solid top- and bottom-line expansion driven by rapid gains in emerging contract development and manufacturing (CDMO) services.

Revenue climbed 14.91% year on year to RMB 6.67 billion, with growth of 16.78% on a constant-currency basis. Gross profit grew 16.46% to RMB 2.77 billion, lifting gross margin by 0.56 percentage points to 41.59%.

Net profit attributable to shareholders rose 19.35% to RMB 1.13 billion, while non-IFRS adjusted net profit surged 56.09% to RMB 1.25 billion, reflecting stronger operating leverage and lower equity-incentive expenses. Basic and diluted earnings per share increased to RMB 3.16 from RMB 2.69.

Segment performance diverged: • Small-Molecule CDMO revenue edged up 3.59% to RMB 4.73 billion (46.45% margin). • Emerging businesses—including peptide, oligonucleotide, ADC, biologics, drug-product CDMO, CRO and synthetic biology—expanded 57.30% to RMB 1.93 billion, with gross margin improving 8.47 points to 29.65%.

Geographically, overseas customers contributed RMB 4.92 billion, up 14.85%, while domestic sales reached RMB 1.75 billion, up 15.24%. The overseas share remained just under 74%.

Order momentum stayed robust: the year-end backlog stood at USD 1.39 billion, a 31.65% increase, supported by rapid growth in chemical and biological macromolecule pipelines.

Operating metrics showed disciplined cost control: selling and marketing expenses fell 13.54% to RMB 210.44 million and administrative expenses declined 6.91% to RMB 801.87 million. R&D investment totalled RMB 593.26 million, representing 8.89% of revenue.

The balance sheet remained strong. Total assets grew 5.13% to RMB 20.28 billion, cash and bank balances reached RMB 6.32 billion (+9.18%), and the gearing ratio was contained at 12.98%. Capital expenditure for the year was RMB 1.27 billion, mainly for capacity expansion in emerging modalities.

The Board recommended a final dividend of RMB 1.30 per 10 Shares (tax inclusive), amounting to approximately RMB 467.64 million and implying a payout ratio of about 41%.

Management guides for 2026 revenue growth of 19–22%, underpinned by continued scale-up in peptide, oligonucleotide and biologic CDMO services, further overseas capacity build-out and sustained momentum in small-molecule projects.