China-based Contract Research Organization (CRO) WuXi AppTec (SHA: 603259, HKG: 2359) released its 2024 financial results. The company reported an annual operating revenue of RMB 39.24 billion (USD 5.42 billion), marking a 5.2% year-on-year increase when excluding COVID-19 commercialized programs. Revenues for the fourth quarter reached RMB 11.54 billion (USD 1.6 billion), up 6.9% year-on-year. The net profit attributable to the parent company expanded by 9.0% to RMB 9.45 billion (USD 1.3 billion).
Business Division Performance
By business division, WuXi Chemistry saw its sales grow by 2.3% year-on-year to RMB 29.05 billion (USD 4.02 billion) in 2024, with the TIDES business (oligo and peptides) surging by 70.1% year-on-year. Excluding COVID-19 projects, the growth rate was 11.2%. The WuXi Testing unit reported RMB 5.67 billion (USD 784 million), down 19.1% year-on-year, while WuXi Biology recorded RMB 2.54 billion (USD 351 million), a decrease of 8.8% year-on-year.
Customer and Order Volume Highlights
The backlog for Continuing Operations reached RMB 49.31 billion (USD 682 million), up 47.0% year-on-year. The company added 1,000 new customers, bringing the total active customer base to 6,000. Revenue from the world’s top-20 pharmaceutical enterprises grew at a high rate of 24.1% year-on-year to RMB 16.64 billion (USD 2.3 billion), excluding COVID-19 projects.-Fineline Info & Tech
Leave a Reply