WUXI XDC (02268) announced its interim results for the six months ended June 30, 2025, reporting revenue of RMB 2.7 billion, representing a 62.19% year-on-year increase. Net profit attributable to shareholders reached RMB 746 million, up 52.74% compared to the same period last year, with basic earnings per share of RMB 0.62.
The company attributed the revenue growth primarily to the continued robust development of the global antibody-drug conjugate (ADC) and broader bioconjugate drug markets, which drove increases in both client numbers and project count. As a leading ADC CRDMO service provider, the group's strong market position contributed to enhanced market share, while the steady advancement of projects to later-stage phases typically generates higher contract values.
Building on the solid foundation established in 2024, the group maintained rapid and steady business growth in the first half of 2025. As a leading player in the thriving and innovative global bioconjugate drug industry, the group aims to sustain its rapid business growth by providing world-class bioconjugate drug CRDMO services and empowering global partners to accelerate and transform ADC and broader bioconjugate drug development.
The group's CRDMO business demonstrated strong momentum in the first half of 2025, with continued positive business expansion and increased global client demand for its services. As of June 30, 2025, leveraging its comprehensive CRDMO capabilities and facilities equipped with "one-stop" functionality from drug discovery to commercialization, the group has cumulatively served 563 global clients through integrated services. The group has successfully secured 11 Process Performance Qualification (PPQ) projects and one commercial-stage project.
The company's exceptional performance earned it the "Best CDMO" award from World ADC for consecutive years in 2023 and 2024. These continuous accolades and achievements highlight the company's global leadership in providing technology-innovation-driven integrated services combined with robust chemistry, manufacturing, and controls (CMC) expertise for ADC and broader bioconjugate drugs.
To ensure readiness for continued market share expansion and to capitalize on growing global demand for bioconjugate drug CRDMO services, the group continued enhancing its production capacity and talent acquisition throughout the reporting period. The GMP release of the XDP3 formulation facility, expansion of the group's Wuxi base (including the under-construction XDP5 formulation facility), and construction of the new Singapore base are all progressing steadily as planned. Upon completion, these developments will provide additional monoclonal antibody, drug substance and drug product production lines, laboratory and office space.