Zhong Guo Ji Jin Bao·2025-10-26 11:16Core Viewpoint - WuXi AppTec plans to sell assets worth 2.8 billion yuan to Hillhouse Capital, which is expected to significantly boost the company's net profit for the year 2025 [2][12]. Group 1: Transaction Details - WuXi AppTec's wholly-owned subsidiary, Shanghai WuXi AppTec New Drug Development Co., Ltd., will transfer 100% equity of Shanghai Kande Hongyi Medical Clinical Research Co., Ltd. and Shanghai WuXi Jinshi Pharmaceutical Technology Co., Ltd. to companies established by Hillhouse Capital [6][9]. - The transaction is structured as a complete deal, with both receiving parties being newly established companies under Hillhouse Capital's private equity fund [9]. - The base transfer price for the equity is set at 2.8 billion yuan, with adjustments based on the financial conditions of the companies involved and their performance from 2026 to 2028 [9][10]. Group 2: Financial Performance - For the first three quarters of 2025, WuXi AppTec reported a net profit attributable to shareholders of 12.076 billion yuan, representing an 84.84% year-on-year increase [16][19]. - The company’s revenue growth is attributed to a focus on the CRDMO (Contract Research, Development, and Manufacturing Organization) business model and the sale of part of its stake in WuXi XDC Cayman Inc. [19]. - The total assets of Kande Hongyi and Jinshi Pharmaceutical as of September 2025 were 257 million yuan and 1.456 billion yuan, respectively, with net profits of -42.47 million yuan and 316.27 million yuan for the same period [10][11]. Group 3: Strategic Focus - The company aims to enhance its global capabilities and capacity deployment through this transaction, focusing on drug discovery, laboratory testing, and process development and manufacturing services [12][15].