By Fineline Cube 
WuXi XDC (HKG: 2268) reported interim results for the first half of 2026 on Aug. 24, with total revenue reaching RMB 3.701 billion, up 41.5% year‑on‑year at constant exchange rates (CER). Adjusted net profit attributable to parent company shareholders grew 37.4% YoY to RMB 1.027 billion, as the company cemented its position as a leading ADC CRDMO service provider.
H1 2026 Financial Highlights
| Item | 2026 H1 | YoY Change |
|---|---|---|
| Total Revenue | RMB 3.701 billion | +41.5% (CER) |
| Adjusted Net Profit (attributable) | RMB 1.027 billion | +37.4% |
| Service Order Backlog | ~USD 2.0 billion | +50.4% |
| Total Order Backlog (incl. potential milestones) | ~USD 2.2 billion | +62.2% |
Growth Drivers
- ADC Market Tailwind: Revenue growth was primarily driven by the continued active development of the global ADC and broader bioconjugate market, alongside the Group’s strengthened market share as a leading ADC CRDMO provider.
- Customer Base Expansion: The cumulative customer base exceeded 810, with 15 of the world’s top 20 multinational pharmaceutical companies now in collaboration with the Group.
Operational Metrics – Record First Half
| Metric | 2026 H1 |
|---|---|
| Integrated CMC (iCMC) Projects | 328 total |
| New Projects Signed in H1 | 51 (historical high) |
| Integrated ADC Projects | 286 |
| Integrated XDC Projects | 42 (increased) |
| Cumulative Customers | 810+ |
| Top‑20 Pharma Collaborations | 15 of 20 |
The 51 new iCMC projects signed in the first half set a new historical high, underscoring accelerating demand for WuXi XDC’s integrated development and manufacturing capabilities.
Strategic Outlook
- Backlog Visibility: With an outstanding service order backlog of approximately USD 2.0 billion (+50.4% YoY) — rising to roughly USD 2.2 billion (+62.2% YoY) including potential milestone payments — WuXi XDC enters the second half with strong revenue visibility.
- Bioconjugate Super‑Cycle: As ADCs continue to dominate oncology deal‑making and clinical pipelines globally, contract development and manufacturing organizations with end‑to‑end bioconjugate capabilities remain among the sector’s key beneficiaries.
- Platform Diversification: The growth of integrated XDC projects to 42 signals rising traction beyond classic ADCs, as next‑generation conjugate modalities broaden WuXi XDC’s addressable market.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding WuXi XDC’s revenue growth, order backlog and market outlook. Actual results may differ due to risks including project execution, customer spending, exchange rate movements and competitive dynamics.-Fineline Info & Tech