WuXi AppTec (603259) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic highlights and industry context

• Announced a positive profit alert for 2025, with final results and 2026 guidance to be disclosed in March.

• Emphasized the integrated CRDMO platform supporting drug development from discovery to commercial manufacturing.

• Noted strong industry demand, especially in GLP-1 and peptide drugs, and ongoing challenges in biotech development cycles.

• Focuses on three core business segments: Wuxi Chemistry, Wuxi Biology, and Wuxi Testing, providing end-to-end solutions.

• Stressed commitment to operational excellence, customer focus, and global expansion.

Financial performance and growth

• Achieved record 2025 revenue of RMB 45.5 billion, up 21.4% YoY, and adjusted net profit of RMB 15 billion, up 41.3%, with a net profit margin of 32.9%, up 5.9 percentage points.

• Backlog exceeded RMB 55 billion, supporting future growth.

• Free cash flow reached a new record, with CapEx expected at RMB 5.5–6 billion in 2025.

• Basic earnings per share improved nearly 10x since IPO, with RMB 20 billion returned to shareholders via dividends and buybacks.

• Returned RMB 7 billion to shareholders in 2025 via dividends and buybacks, over 70% of 2024 net profit.

Operational achievements and capacity expansion

• Expanded small molecule API reactor volume to over 4 million liters and solid phase peptide synthesizer capacity to 100,000+ liters.

• Supported 3,400+ molecules in the CDMO pipeline, with 621 added in the first three quarters of 2025.

• Supported 16% of global clinical stage small molecule new drugs and 27% of FDA-approved small molecule drugs in 2025.

• Tides business expected to grow revenue by over 90% in 2025, with further capacity investments planned for 2026.

• Currently supports 24 GLP-1 drugs, securing 25% market share in this fast-growing segment.