By Fineline Cube WuXi AppTec (SHA: 603259, HKG: 2359) released preliminary 2025 performance data, projecting full‑year revenue of RMB 45.46 billion (USD 6.51 billion), up 15.8 % year‑on‑year (YOY), while net profit attributable to parent owners skyrocketed 102.6 % YOY to RMB 19.15 billion, boosted by investment income from equity sales and business divestments.
Preliminary 2025 Financial Highlights
| Metric | 2025E (RMB) | 2025E (USD) | YOY Growth |
|---|---|---|---|
| Total Revenue | 45.46 billion | 6.51 billion | +15.8 % |
| Continuing Operations Revenue | Not disclosed | Not disclosed | +21.4 % |
| Net Profit (Parent) | 19.15 billion | 2.74 billion | +102.6 % |
| Adjusted Non‑IFRS Net Profit | 14.96 billion | 2.14 billion | +41.3 % |
- Profit Surge Drivers:
- Sale of partial equity in an associate company
- Divestment of certain business segments
- Strong core CRO business growth (+21.4% continuing operations)
Market Context & Competitive Landscape
| Parameter | 2025E | 2025E (USD) | Market Position |
|---|---|---|---|
| WuXi AppTec Revenue | 45.46 billion | 6.51 billion | #1 China CRO, top 5 globally |
| LONZA Revenue | CHF 6.2 billion | 7.1 billion | #1 global CDMO |
| Catalent Revenue | $4.8 billion | 4.8 billion | #2 global CDMO |
| Samsung Biologics | ₩3.1 trillion | 2.3 billion | #3 global CDMO |
- CRO Market Growth: Global CRO market grew 12‑14 % in 2025; WuXi AppTec’s 21.4 % continuing ops growth significantly outpaced industry average
- China Market Share: WuXi AppTec commands 28 % of China’s CRO market, benefiting from domestic innovation wave
Strategic Implications
- Divestment Strategy: Asset sales demonstrate disciplined capital allocation, focusing on high‑margin core CRO services while monetizing non‑core investments
- Margin Expansion: Adjusted Non‑IFRS net profit margin of 32.9 % (vs. 27.1 % in 2024) reflects operational leverage and cost optimization
- Capital Deployment: $2.74 billion net profit provides firepower for global facility expansion and M&A in cell & gene therapy CDMO
- Client Base: Now serves all top 20 global pharma and 80 % of China biotech unicorns
Key Risks & Forward Guidance
- Geopolitical: US Biosecure Act scrutiny remains overhang; company maintained no material impact in 2025 guidance
- Currency: RMB depreciation boosted USD‑reported figures by ~3 %
- Annual Report: Audited 2025 annual report to be released March 24, 2026
Forward‑Looking Statements
This brief contains forward‑looking statements regarding audited results and 2026 guidance. Actual results may differ due to regulatory changes, client cancellations, and FX volatility.-Fineline Info & Tech