Core Viewpoint - WuXi Biologics reported a strong performance in the first half of 2025, with revenue of 9.95 billion yuan, a year-on-year increase of 16.1%, and a net profit of 2.76 billion yuan, up 54.8% [1][2] Group 1: Financial Performance - The company achieved a revenue of 9.95 billion yuan in the first half of 2025, reflecting a 16.1% year-on-year growth [1] - Net profit reached 2.76 billion yuan, marking a significant increase of 54.8% compared to the previous year [1] Group 2: Business Development - WuXi Biologics added 86 new comprehensive development projects in the first half of 2025, setting a new record for the same period [1] - Over 70% of the newly signed projects involve bispecific antibodies, multi-specific antibodies, and antibody-drug conjugates (ADCs) [1] Group 3: Research and Development - The company reported a 35.2% year-on-year increase in preclinical revenue, benefiting from the transition of R&D service projects to the development phase [2] - WuXi Biologics supports 67 clinical phase III projects and 24 commercial production projects as of June 30, 2025, with a 24.9% increase in revenue from these areas [2] Group 4: Future Outlook - The total unfulfilled orders reached 20.34 billion USD, with unfulfilled service orders and potential milestone payment orders amounting to 11.35 billion USD and 9 billion USD, respectively [2] - The total unfulfilled orders increased by 4.21 billion USD over three years, reinforcing the revenue growth expectations for the near term [2]