Key Takeaways:
WuXi Biologics reported H1 revenue of RMB 11.8 billion, up 18.4 percent, and adjusted net profit up 38.4 percent to RMB 3.3 billion.
The results echo strength across the WuXi group. "Our strong first-half 2026 performance reflects the continued execution of our long-term strategy and increasing global demand for integrated bioconjugate CRDMO services," Dr. Jimmy Li, chief executive of WuXi XDC, said in a separate release.
Adjusted gross profit reached RMB 5.7 billion, with adjusted gross margin of 48.4 percent, up 280 basis points from a year earlier. Revenue growth was 23.4 percent on a US-dollar basis, reflecting a contract book largely denominated in dollars. The CRDMO platform added a record 169 new integrated projects in the first half, bringing the total to 1,064.
Total unfilled orders stood at $25.1 billion as of June 30, with orders due within three years at $5.5 billion, up about 30 percent year over year. The backlog is the central gauge of future revenue for contract manufacturers, whose income depends on clients advancing molecules through clinical and commercial stages. The record intake of 169 projects in a single half shows the breadth of demand across biologics, from monoclonal antibodies to antibody-drug conjugates and bispecifics. The company did not disclose earnings per share or an interim dividend.
Sister company WuXi XDC, which focuses on antibody-drug conjugates, posted a 37 percent rise in first-half revenue to RMB 3.7 billion and a 37.4 percent gain in adjusted net profit, with its service backlog growing 50.4 percent to about $2 billion. The two results point to sustained demand for Chinese contract research, development and manufacturing services even as US lawmakers weigh restrictions on biotech outsourcing.
The 38.4 percent profit growth and $25.1 billion backlog signal sustained demand for WuXi Biologics' end-to-end services, a positive read for the broader Chinese CRDMO sector. Investors will watch full-year guidance and any update on US-China trade restrictions affecting biotech outsourcing.
This article is for informational purposes only and does not constitute investment advice.
