Key Takeaways:
- Revenue RMB 28.9 billion, up 38.9% year over year
- Net profit RMB 11.08 billion, up 33.7% year over year
- Order backlog RMB 66.43 billion, up 25.2% as of June 30
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WuXi AppTec H1 profit jumps 33.7% as order backlog grows 25.2%
WuXi AppTec reported H1 net profit of RMB 11.08 billion, up 33.7% year over year, on revenue of RMB 28.9 billion.
The Shanghai-headquartered contract research organization said first-half revenue rose 38.9% from a year earlier, according to its interim results announcement. The company did not disclose an interim dividend or earnings per share figure in the release.
Order backlog from continuing operations reached RMB 66.43 billion as of June 30, up 25.2% year over year, pointing to sustained demand for its drug development and manufacturing services.
The results extend a recovery that began in 2025. WuXi AppTec's Class H shares on the Hong Kong exchange reported first-quarter earnings per share of 1.81 yuan, beating the 1.39 yuan forecast and up 32.5% from a year earlier, per TipRanks data. The company's second-quarter report is scheduled for Aug 3.
Founded in 2000 by chairman and chief executive Ge Li, WuXi AppTec operates more than 100 facilities across Asia, North America and Europe. Its American depositary shares trade on OTC Markets under the ticker WUXIF, alongside listings on the Hong Kong and Shanghai exchanges.
The company provides end-to-end services spanning discovery biology, medicinal chemistry, preclinical safety assessment, clinical trial support and large-scale manufacturing of small molecules, biologics and advanced therapies. Major sites in Wuxi, Suzhou, Shanghai, Philadelphia and St. Paul's, Ireland, serve clients from emerging biotech firms to large pharmaceutical corporations.
The order backlog growth points to continued momentum for WuXi AppTec's contract development and manufacturing business. The company competes with peers including WuXi Biologics and Pharmaron in China's CRO sector.
Analysts have kept a positive stance on the stock. Nomura maintains a Buy rating on the Class H shares, and Morgan Stanley also holds a Buy rating, according to recent research notes. The consensus view reflects confidence that the order pipeline will convert into revenue through 2026.
The 25.2% backlog expansion gives management visibility into second-half revenue, a key metric for investors tracking the Chinese CRO sector's recovery. The Aug 3 earnings call will test whether the growth rate holds as clients weigh supply-chain diversification beyond China.
This article is for informational purposes only and does not constitute investment advice.
