Financial Performance - The company's revenue for 2023 reached approximately ¥40.34 billion, representing a 2.51% increase compared to ¥39.35 billion in 2022[20]. - Net profit attributable to shareholders for 2023 was approximately ¥9.61 billion, a 9.00% increase from ¥8.81 billion in 2022[20]. - The net profit after deducting non-recurring gains and losses was approximately ¥9.75 billion, reflecting a 16.81% increase from ¥8.34 billion in 2022[20]. - The net cash flow from operating activities for 2023 was approximately ¥13.39 billion, an increase of 26.10% compared to ¥10.62 billion in 2022[20]. - The total assets at the end of 2023 were approximately ¥73.67 billion, a 13.88% increase from ¥64.69 billion at the end of 2022[20]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥55.12 billion, an 18.31% increase from ¥46.59 billion at the end of 2022[20]. - Basic earnings per share for 2023 were ¥3.27, an increase of 8.64% from ¥3.01 in 2022[21]. - The diluted earnings per share for 2023 were ¥3.24, reflecting a 14.89% increase from ¥2.82 in 2022[21]. - The weighted average return on net assets for 2023 was 18.99%, a decrease of 1.63 percentage points from 20.62% in 2022[21]. - The company achieved operating revenue of RMB 40,340,806,877.04, a year-on-year increase of 2.51%[44]. - Gross profit reached RMB 1,661,200,720, representing a 13.18% increase compared to the same period last year, with a gross margin of 41.17%, up 3.88 percentage points[45]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 9.8336 per 10 shares, totaling RMB 2,882,031,329.68 (including tax) to shareholders[4]. - The cash dividend represents 30% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is RMB 9,606,749,135.07[142]. - The company has established a profit distribution policy ensuring that cash dividends in any three consecutive years will not be less than 30% of the average distributable profit for those years[140]. - The company is committed to a sustainable profit distribution mechanism that considers strategic development goals, shareholder interests, and cash flow conditions[140]. Business Operations and Strategy - The company plans to continue expanding its market presence and investing in new product development and technologies[19]. - The company is focusing on enhancing global business synergies and accelerating its globalization efforts[45]. - The company aims to enhance its service capabilities and expand its business scale globally, focusing on integrated new drug R&D and production services[78]. - The company plans to strengthen its digital transformation and improve data utilization to enhance operational efficiency[81]. - The company will continue to invest in cutting-edge technologies, including peptide drugs, oligonucleotide drugs, and targeted protein degradation technology (PROTAC)[81]. - The company is focused on developing and selecting talent suitable for various business scenarios to enhance the quality of its management team[139]. Client and Market Engagement - The company added over 1,200 new clients in 2023, with active clients exceeding 6,000, indicating a strong demand for services globally[30]. - Revenue from U.S. clients amounted to CNY 26.13 billion, a year-on-year increase of 42% when excluding specific commercial production projects[30]. - Revenue from the top 20 global pharmaceutical companies reached CNY 16.11 billion, with a year-on-year growth of 44% when excluding specific commercial production projects[30]. - The company’s revenue from existing clients accounted for 98% of total revenue, amounting to CNY 39.63 billion, which is a 30% increase when excluding specific commercial production projects[30]. Risks and Challenges - The company faces risks related to a potential decline in demand for pharmaceutical research services, which could negatively impact business if industry trends slow or outsourcing ratios decrease[83]. - Regulatory changes in the pharmaceutical research services industry pose a risk, as the company must adapt to evolving policies and regulations in various countries[84]. - Increased competition in the global pharmaceutical research services market may threaten the company's market position if it fails to enhance its research and commercial advantages[85]. - Global operations expose the company to risks from international policy changes, geopolitical tensions, and unforeseen events that could disrupt business continuity[87]. - Currency exchange rate fluctuations, particularly a significant appreciation of the RMB, could lead to increased costs and reduced order volumes[90]. Governance and Compliance - The company has established a complete and independent governance structure, ensuring independence in assets, personnel, finance, organization, and business from the actual controller[95]. - The company has implemented measures to prevent the actual controller and related parties from occupying company funds, ensuring financial independence[96]. - The company has a robust internal management and control system to safeguard shareholder rights and ensure stable development[94]. - The company has not engaged in any related party transactions that would compromise its independence[96]. - The company reported no penalties from securities regulatory agencies in the past three years[121]. Environmental Responsibility - The company invested 14.6138 million yuan in environmental protection during the reporting period[151]. - The company has established a mechanism for environmental protection and is compliant with relevant regulations[151]. - The company’s wastewater treatment facilities across various locations are operating normally and effectively managing waste, ensuring compliance with environmental standards[196]. - The company has implemented a waste management program to oversee the generation, collection, classification, and disposal of industrial solid waste and hazardous waste[165]. - The company’s noise levels at the project boundary meet the Class 2 standards of the Industrial Enterprise Boundary Environmental Noise Emission Standards[165].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company reported a revenue of approximately 40.34 billion RMB in 2023, representing a year-on-year growth of 2.51%, and a net profit attributable to shareholders of approximately 9.61 billion RMB, which is a 9% increase year-on-year [1] - The company has seen a significant increase in orders, with a year-on-year growth of 18% in hand orders, excluding specific commercial production projects [1] - Revenue from U.S. clients reached 26.13 billion RMB, growing 42% year-on-year, while revenue from European clients was 4.70 billion RMB, up 12% year-on-year [1] - The company has a high customer loyalty rate, with 98% of revenue coming from existing clients, totaling 39.63 billion RMB, which is a 30% increase year-on-year [1] - The company successfully delivered over 420,000 new compounds and added 1,255 new molecules during the reporting period, contributing to revenue growth [1] - The production capacity for peptides has rapidly increased, with the number of oligonucleotide and peptide D&M molecules rising by 41% to 267, and the total volume of peptide solid-phase synthesis reactors increasing fivefold to 32,000 liters [1] - The company achieved a decrease in operating costs, with a year-on-year decline of 3.84% in operating costs, 4.18% in selling expenses, and 10.74% in R&D expenses [1] - The company plans to distribute a cash dividend of 9.8336 RMB per 10 shares to all shareholders, totaling approximately 2.88 billion RMB, with a dividend yield of about 1.8% [1] Financial Summary - The company expects net profits attributable to shareholders for 2024, 2025, and 2026 to be 10.1 billion RMB, 11.2 billion RMB, and 13 billion RMB respectively, with corresponding P/E ratios of 15, 14, and 12 times [1][4] - The revenue growth rate is projected to be 0.11% in 2024, followed by 17.38% in 2025 and 18.69% in 2026 [4] - The net profit growth rate is expected to be 6.02% in 2024, 10% in 2025, and 15.86% in 2026 [4]

Investment Rating - The report maintains a "Buy" rating for WuXi AppTec (603259.SH) [3] Core Views - The company achieved a revenue of 40.34 billion RMB in 2023, a year-on-year increase of 2.5%, and a net profit attributable to shareholders of 9.607 billion RMB, up 9.0% year-on-year [1] - Excluding COVID-19 related projects, the overall revenue growth was 25.6%, with major pharmaceutical companies contributing approximately 40% of total revenue [1] - The company expects revenue in 2024 to reach between 38.3 billion and 40.5 billion RMB, with a projected growth rate of 2.7% to 8.6% [1] Financial Performance - In 2023, the adjusted Non-IFRS net profit was 10.9 billion RMB, reflecting a 15.5% year-on-year increase [1] - The chemical business revenue was 29.17 billion RMB, with a year-on-year growth of 1.1%, and a significant increase of 36.1% when excluding COVID-19 projects [1] - The TIDES business, focusing on oligonucleotides and peptides, saw a revenue increase of 64.4%, reaching 3.41 billion RMB [1][2] Revenue Breakdown - The testing business generated 6.54 billion RMB, a year-on-year increase of 14.4% [1] - The biological services segment reported a revenue of 2.55 billion RMB, up 3.1% year-on-year [1] - The ATU segment's revenue was 1.31 billion RMB, showing a slight increase of 0.1% [1] Profitability and Efficiency - The adjusted Non-IFRS gross margins for the chemical, testing, and biological services segments improved by 3.9, 1.9, and 1.5 percentage points respectively [1] - The company anticipates maintaining a similar adjusted Non-IFRS net profit margin in 2024 as in the previous year [1] Earnings Forecast - The forecasted net profits for 2024-2026 are 10.26 billion RMB, 11.75 billion RMB, and 13.37 billion RMB, representing year-on-year growth rates of 6.8%, 14.5%, and 13.8% respectively [1][2]

Investment Rating - The report maintains a "Recommended" rating for WuXi AppTec (603259.SH) [2][4] Core Views - WuXi AppTec's revenue for 2023 reached 40.34 billion yuan, a year-on-year increase of 2.5%, with a 25.6% growth rate excluding COVID-19 related projects. The net profit attributable to shareholders was 9.61 billion yuan, up 9.0% year-on-year, and the adjusted net profit was 10.86 billion yuan, reflecting a 15.5% increase [1][2] - The company is expected to achieve revenue between 38.3 billion and 40.5 billion yuan in 2024, with a year-on-year growth of 2.7% to 8.6% excluding COVID-19 projects [1][2] Summary by Sections Financial Performance - WuXi Chemistry reported revenue of 29.17 billion yuan, a 1.1% increase, with a 36.1% growth rate excluding COVID-19 projects. The revenue from R&D was 7.55 billion yuan (+4.7%), while D&M revenue was 21.62 billion yuan (-0.1%), with a 55.1% growth rate excluding COVID-19 [1] - WuXi Testing generated revenue of 6.54 billion yuan (+14.4%), with laboratory analysis and testing revenue at 4.78 billion yuan (+15.3%) [1] - WuXi Biology's revenue was 2.55 billion yuan (+3.1%), with new molecular-related revenue accounting for 27.5% [1] - WuXi ATU's revenue was 1.31 billion yuan (+0.1%), supporting CAR-T therapy approvals [1] - WuXi DDSU's revenue decreased to 730 million yuan (-25.1%), but gross margin improved by 9.5 percentage points [1] Future Outlook - The company has a strong order backlog of 35.24 billion yuan, a 7.4% increase year-on-year, with 23.39 billion yuan expected to be recognized as revenue in 2024 [1] - Capital expenditure for 2024 is projected at 5 billion yuan, with free cash flow expected to reach 4-5 billion yuan [1] Valuation Metrics - The projected net profit for 2024-2026 is estimated at 9.58 billion, 10.96 billion, and 12.85 billion yuan, corresponding to PE ratios of 16, 14, and 12 times respectively [1][2]

FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 第 2 頁 共 5 頁 v 1.2.5 公司名稱： 無錫藥明康德新藥開發股份有限公司 呈交日期： 2024年3月18日 | 第一章節 | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | A | | | | | 於香港聯交所上市(註11) | 否 | | | | | 證券代號 (如於香港聯交所上市) | | | 說明 | | 於上海證券交易所上市 | | | | | | | | | | | | 發行股份 (註6及7) | 股份數目 | | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | | | 每股發行價 (註1及7) | | 上一個營業日 的每股收市價 (註5) | | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | | | 於 ...

根據業務的發展需要，本公司董事會於2024年3月18日第三屆董事會第九次會 議議決將動用分配至兩個募投項目（分別為「擴大本集團的海外業務及全球併購」 和「建設常熟研發一體化」項目（「募投項目」））之餘下配售新H股募集資金淨額 的預期日期從2023年12月31日延長至2025年12月31日（「延期」）。 WUXI APPTEC CO., LTD. * 無錫藥明康德新藥開發股份有限公司 配售新H股的基本情況 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2359） 動用分配至募投項目之 餘下配售新H股募集資金淨額 預期時間表延期 茲提述無錫藥明康德新藥開發股份有限公司（「本公司」）於2020年7月29日和 2020年8月5日刊發有關（其中包括）配售68,205,400股新H股（「配售新H股」）的公 告（「該等公告」）。除非文義另有所指，否則該等公告已界定的詞語在本公告中 具有相同涵義。 以上數據若出現 ...

無錫藥明康德新藥開發股份有限公司 董事會提名委員會議事規則 （2024年修訂） 無錫藥明康德新藥開發股份有限公司 董事會提名委員會議事規則 第一章 總則 第一條 為規範無錫藥明康德新藥開發股份有限公司（以下簡稱「公司」）董事、 高級管理人員的選聘工作，優化董事會組成，完善公司治理結構，根據《中華 人民共和國公司法》、《上市公司治理準則》、《上市公司獨立董事管理辦法》、 《董事會專門委員會實施細則(2) — 董事會提名委員會實施細則指引》、《香港聯 合交易所有限公司證券上市規則》以及《無錫藥明康德新藥開發股份有限公司 章程》（以下簡稱「《公司章程》」）、《無錫藥明康德新藥開發股份有限公司董事 會議事規則》的相關規定，公司董事會特設立提名委員會，並制定本規則。 第二條 提名委員會是董事會下設的專門工作機構，主要負責對公司董事和高 級管理人員的人選、條件、標準和程序提出建議。 第三條 本規則所稱高級管理人員同《公司章程》中的定義範圍。 第九條 當委員會人數低於本規則規定人數時，董事會應當根據本規則規定補 足委員人數。 第十條 提名委員會可以下設提名工作小組（以下簡稱「工作組」）作為日常辦事 機構，由公司負責人力資源 ...

無錫藥明康德新藥開發股份有限公司 董事會薪酬與考核委員會議事規則 （2024年修訂） 無錫藥明康德新藥開發股份有限公司 董事會薪酬與考核委員會議事規則 第一章 總則 第一條 為進一步建立健全無錫藥明康德新藥開發股份有限公司（以下簡稱「公 司」）董事和高級管理人員的薪酬和考核管理制度，完善公司治理結構，根據《中 華人民共和國公司法》、《上市公司治理準則》、《上市公司獨立董事管理辦法》、 《董事會專門委員會實施細則(4) — 董事會薪酬與考核委員會實施細則指引》、 《香港聯合交易所有限公司證券上市規則》以及《無錫藥明康德新藥開發股份有 限公司章程》（以下簡稱「《公司章程》」）、《無錫藥明康德新藥開發股份有限公 司董事會議事規則》等相關規定，公司特設董事會薪酬與考核委員會，並制定 本規則。 第二條 薪酬與考核委員會是董事會下設的專門工作機構，主要工作是擬定公 司董事及高級管理人員的考核標準並進行考核；負責制定、審查公司董事及 高級管理人員薪酬政策與方案，對制定股權激勵方案進行研究和建議，對董事 會負責。 第三條 本規則所稱董事是指在本公司領取薪酬的董事；高級管理人員是指《公 司章程》所定義的由董事會聘任的高級管理人 ...

無錫藥明康德新藥開發股份有限公司 第一條 為適應無錫藥明康德新藥開發股份有限公司（以下簡稱「公司」）戰略發 展需要，增強公司核心競爭力，確定公司發展規劃，健全投資決策程序，加強 決策科學性，提高重大決策的效率和決策水平，完善公司治理結構，增強公司 核心競爭力，根據《中華人民共和國公司法》、《上市公司治理準則》、《董事會 專門委員會實施細則(1)—董事會戰略委員會實施細則指引》以及《無錫藥明康 德新藥開發股份有限公司章程》（以下簡稱「《公司章程》」）、《無錫藥明康德新 藥開發股份有限公司董事會議事規則》的相關規定，公司設立董事會戰略委員 會，並制定本規則。 第二條 戰略委員會是董事會下設的專門工作機構，主要工作是對公司長期發 展戰略和重大投資決策進行研究並提出建議。 董事會戰略委員會議事規則 （2024年修訂） 無錫藥明康德新藥開發股份有限公司 董事會戰略委員會議事規則 第一章 總則 第二章 人員組成 第三條 戰略委員會成員由5名董事組成，其中必須包括公司董事長。 第四條 戰略委員會委員由董事長提名，並由董事會選舉產生。 第五條 戰略委員會設主任委員（即召集人）一名，由公司董事長擔任，負責主 持委員會工作並召集 ...

无锡药明康德新药开发股份有限公司 对 2023 年度会计师事务所履职情况评估报告 无锡药明康德新药开发股份有限公司（以下简称"公司"）聘请德勤华永 会计师事务所（特殊普通合伙）（以下简称"德勤华永"）为公司 2023 年度境 内财务报告审计机构及内部控制审计机构，聘请德勤•关黄陈方会计师行（以下 简称"德勤香港"）为公司 2023 年度境外财务报告审计机构。根据相关法律、 法规及规章制度的规定，公司对会计师事务所 2023 年度履职情况评估如下： 一、2023 年度会计师事务所的基本情况 经审计，德勤华永和德勤香港认为公司财务报表在所有重大方面按照《企业 会计准则》和《国际会计准则》的规定编制，公允反映了公司 2023 年 12 月 31 日的合并及母公司财务状况以及 2023 年度的合并及母公司经营成果和现金流量； 公司按照《企业内部控制基本规范》和相关规定在所有方面保持了有效的财务报 告内部控制。德勤华永和德勤香港出具了标准无保留意见的审计报告。 三、总体评价 公司认为德勤华永和德勤香港在公司年报审计过程中坚持以公允、客观的态 度进行独立审计，表现了良好的职业操守和业务素质，按时完成了公司 2023 年 ...