Shang Hai Zheng Quan Bao·2025-07-28 18:58Core Insights - The CXO (Contract Research Organization) industry is experiencing a significant recovery, as evidenced by WuXi AppTec's impressive performance in the first half of 2025 [1] - WuXi AppTec reported record-high revenue and net profit for the first half of 2025, with revenue increasing by 20.64% to 20.799 billion yuan and net profit rising by 101.92% to 8.561 billion yuan [1] - The company's second-quarter revenue surpassed 10 billion yuan for the first time, reaching 11.145 billion yuan, a year-on-year increase of 20.37% [1] Revenue Breakdown - WuXi AppTec's chemical business serves as the revenue "cornerstone," accounting for nearly 80% of total revenue [2] - The chemical business generated revenue of 16.301 billion yuan, reflecting a year-on-year growth of 33.51% [2] - The small molecule process development and manufacturing (D&M) segment maintained strong growth, achieving revenue of 8.68 billion yuan, up 17.5% year-on-year [2] Global Expansion - The company's growth is supported by an expanding global customer base, with overseas revenue reaching 17.26 billion yuan, making up over 80% of total revenue [3] - Revenue from U.S. clients was 14.03 billion yuan, a year-on-year increase of 38.4%, while European clients contributed 2.33 billion yuan, up 9.2% [3] - As of mid-2025, WuXi AppTec's backlog of orders reached 56.69 billion yuan, marking a 37.2% year-on-year increase, setting a new historical high [3]