By Fineline Cube 
China-based Contract Research Organization (CRO) WuXi AppTec (SHA: 603259, HKG: 2359) released its financial report for the first quarter of 2025. Revenues during Q1 stood at RMB 9.65 billion (USD 1.3 billion), up 21.0% year-on-year (YOY). Revenue from Continuing Operations reached RMB 9.39 billion (USD 1.3 billion), up 23.1% YOY. As of March 31, 2025, the backlog for Continuing Operations reached RMB 52.33 billion (USD 7.19 billion), up 47.1% YOY. The company’s small molecule Development and Manufacturing (D&M) pipeline reached 3,393 molecules, with an increase of 5 projects in Phase III and commercial stages during the first quarter of 2025.
Business Segment Performance
- WuXi Chemistry: Q1 revenue reached RMB 7.39 billion (USD 1 billion), up 32.9% YOY.
- TIDES Business (oligo and peptides): Revenues soared 187.6% YOY to RMB 2.24 billion (USD 3 billion). As of the end of March 2025, TIDES backlog was up 105.5% YOY.
- Lab Testing Services: Revenue declined 4.9% YOY to RMB 0.88 billion (USD 120 million), due to market impact as pricing gradually reflected in revenue along with backlog conversion.
- Clinical CRO & SMO: Revenue declined 2.2% YOY to RMB 0.41 billion (USD 56 million) due to market pricing impact. Within that, SMO revenue grew 5.5% YOY, maintaining the industry-leading position in China.
- WuXi Biology: Q1 revenue rose 8.2% YOY to RMB 0.61 billion (USD 84 million).-Fineline Info & Tech