Core Insights - WuXi Biologics (02269) reported a record high of 86 new comprehensive projects signed in the first half of 2025, increasing the total number of comprehensive projects to 864, solidifying its leading position in the industry with one of the largest complex biologics product lines [1] - The new projects include over 70% in bispecific/multispecific antibodies and ADCs, leading the two major golden tracks of innovative biologics [1] - The rapid growth in performance supports WuXi Biologics' upward revision of its full-year revenue guidance for 2025 to 14%-16% [1] Project and Financial Performance - As of June 30, 2025, the number of clinical phase III and commercial production projects on WuXi Biologics' integrated platform reached 67 and 24 respectively, with revenue increasing by 24.9% year-on-year [1] - The research services have empowered over 50 molecular projects, with potential milestone payments and sales commissions expected to significantly enhance the company's long-term profit growth [1] - A molecule developed for GSK has entered the clinical stage, marking the fourth TCE project enabled by WuXi Biologics to reach this stage [1] Order Backlog - WuXi Biologics has an unfulfilled order backlog exceeding $20.34 billion, with the backlog from the past three years growing to $4.21 billion, indicating a substantial expected revenue increase in the near term [1]
药明生物(02269)上半年新增项目创新高 后期及商业化生产收益同比增24.9%