WuXi AppTec(SH:603259) 证券时报·2025-10-26 11:05Core Viewpoint - WuXi AppTec reported strong financial performance for Q3 2023, with significant year-on-year growth in revenue and net profit, while also announcing a strategic asset sale to focus on its core CRDMO business [2][4]. Financial Performance - For the first three quarters of 2023, WuXi AppTec achieved revenue of RMB 32.857 billion, a year-on-year increase of 18.61%, and a net profit attributable to shareholders of RMB 12.076 billion, up 84.84% [2][3]. - In Q3 2023 alone, the company reported revenue of RMB 12.057 billion, reflecting a 15.26% increase year-on-year, and a net profit of RMB 3.515 billion, which is a 53.27% increase [2][3]. - The total profit for Q3 was RMB 5.130 billion, marking an 82.89% increase compared to the same period last year [3]. Business Segments and Orders - As of September 2025, the company had a backlog of orders worth RMB 59.88 billion, representing a 41.2% year-on-year growth [3]. - Revenue from ongoing operations for the first three quarters of 2025 was RMB 32.45 billion, a 22.5% increase, with significant contributions from U.S. clients (RMB 22.15 billion, up 31.9%) and European clients (RMB 3.84 billion, up 13.5%) [3]. Strategic Asset Sale - WuXi AppTec plans to sell 100% equity of its subsidiaries, Kangde Hongyi and Jinshi Pharmaceutical, to Hillhouse Capital for RMB 2.8 billion, aiming to streamline its focus on CRDMO services [4][7]. - The target companies generated approximately RMB 1.16 billion in revenue for the first nine months of 2025, accounting for 3.5% of WuXi AppTec's total revenue during that period [7]. Stock Performance - The stock of WuXi AppTec has seen a significant increase, with a year-to-date rise of over 140%, closing at RMB 103.81 per share, resulting in a market capitalization exceeding RMB 300 billion [8].