Guo Ji Jin Rong Bao·2025-10-27 13:25Core Viewpoint - WuXi AppTec plans to sell two clinical service subsidiaries, Kangde Hongyi and Jinshi Pharmaceutical, to Hillhouse Capital for a base price of 2.8 billion yuan, as part of its strategy to focus on its core CRDMO business [1][4][8] Financial Performance - For the first three quarters of 2025, the combined revenue of Kangde Hongyi and Jinshi Pharmaceutical was approximately 1.16 billion yuan, accounting for 3.5% of WuXi AppTec's total revenue [5] - The net profit of these subsidiaries was about 90 million yuan, representing 0.7% of the company's net profit for the same period [5] - WuXi AppTec reported a total revenue of 32.857 billion yuan for the first three quarters of 2025, a year-on-year increase of 18.61%, with a net profit of 12.076 billion yuan, up 84.84% [6][7] Business Strategy - The sale of the subsidiaries is part of WuXi AppTec's strategy to concentrate on drug discovery, laboratory testing, and production, while accelerating global capacity expansion [5][8] - The company aims to optimize its financial structure and respond to industry challenges, including increased competition and pricing pressures from peers [9] Market Dynamics - WuXi AppTec's revenue from the U.S. market was 22.15 billion yuan, a year-on-year increase of 31.9%, while revenue from the Chinese market grew only 0.5% [6] - The company has been adjusting its strategy in response to external risks, including the U.S. Biosecurity Act, which has raised concerns about its operations [8][9]