WUXI BIO (02269) announced its 2025 interim results, reporting revenue of approximately 9.953 billion yuan, representing a year-on-year increase of 16.1%. Gross profit reached approximately 4.253 billion yuan, up 27% year-on-year. Net profit attributable to owners was approximately 2.339 billion yuan, marking a 56% year-on-year increase. Adjusted net profit attributable to owners stood at approximately 2.389 billion yuan, up 6.2% year-on-year. Basic earnings per share was 0.58 yuan.
According to the announcement, the revenue growth was primarily attributed to: (i) the successful execution of the "Follow and Win the Molecule" strategy, along with leading technology platforms, industry-best project delivery timelines, and excellent project execution track record driving the group's revenue growth; (ii) based on rapidly developing technology platforms such as ADC (antibody-drug conjugates) and bispecific antibodies, the group expanded its service offerings to the biologics industry, including discovery research, pre-IND development, and clinical and commercial manufacturing; (iii) increased research service revenue generated by the group's multiple advanced technologies; and (iv) the group's utilization of existing and new capacity, including capacity ramp-up at European manufacturing facilities.
During the first half of 2025, the group added a record number of new integrated projects. The group added 86 new integrated projects during the reporting period, bringing the total to 864. As of June 30, 2025, the group's preclinical projects and early clinical projects increased to 429 and 344 respectively, demonstrating the group's sustainable development capabilities. The group's late-stage clinical and commercial manufacturing businesses also achieved steady growth, with project numbers reaching 67 and 24 respectively as of June 30, 2025.
Additionally, through executing the "Win the Molecule" strategy, the group successfully secured 9 external projects during the reporting period, including 2 late-stage clinical projects, further unleashing growth momentum.
The group's total order backlog increased to $20.3 billion as of June 30, 2025, including $11.4 billion in outstanding service orders and $9.0 billion in outstanding potential milestone payment orders. Meanwhile, the group's three-year order backlog increased to $4.2 billion as of June 30, 2025. The timing and probability of revenue recognition from potential milestone payment orders may vary, as they are subject to factors such as project success rates and project progress that may be beyond the group's complete control.