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药明康德(02359) - 2025 Q3 - 电话会议演示
2025-10-27 01:00
Financial Performance - Revenue from Continuing Operations increased by 22.5% YoY, reaching RMB 32.86 billion[13,14] - Adjusted Non-IFRS Net Profit increased by 43.4% YoY, reaching RMB 10.54 billion[13,14] - Backlog for Continuing Operations increased by 41.2% YoY as of September 30, 2025[15,16] - Q1-Q3 2025 Operating Cash Flow Up 35.0% YoY to 10.87 Billion[46] Segment Performance - WuXi Chemistry Q1-Q3 revenue up 29.3% YoY to RMB 25.98 billion[25] - WuXi Chemistry Q1-Q3 adjusted non-IFRS GPM steadily improved 5.8pts YoY to 51.3%[25] - TIDES revenue grew 121.1% YoY to RMB 7.84 billion[22,25] - WuXi Biology Q1-Q3 revenue up 6.6% YoY to RMB 1.95 billion[34,35] Company Outlook - Continuing Operations revenue expects to resume double-digit growth in 2025, with its YoY growth rate raised to 17-18%, targeting full-year total revenue of RMB43.5-44.0 billion[52] - Capex for 2025 is expected to reach RMB5.5-6.0 billion[52]
药明生物(02269) - 2025 H1 - 电话会议演示
2025-08-20 12:00
Financial Performance - Revenue increased by 16.1% year-over-year to RMB 10 billion[7], with adjusted EBITDA up 20.6% to RMB 4.3 billion[7] and adjusted net profit up 11.6% to RMB 2.8 billion[7] - Gross profit margin improved by 360 basis points to 42.7%[7], with adjusted EBITDA margin at 43.3% and adjusted net profit margin at 28.5%[7] - Basic earnings per share (EPS) increased by 56.8% to RMB 0.58[7] Business Growth and Backlog - Integrated projects increased by 16.4% year-over-year to 864[8] with 86 new projects added in 1H 2025[9] - Commercial projects increased by 50% year-over-year to 24[9] - Total backlog reached US$20.3 billion[9, 16], including US$11.4 billion in service backlog[17] and US$4.2 billion within 3 years[17] Revenue Breakdown and Geography - Pre-IND revenue rose 35.2% year-over-year in 1H 2025[11] - Late-stage + CMO revenue increased by 24.9% year-over-year[12] - North America revenue grew 20.1% year-over-year, accounting for 60.5% of total revenue[21, 22] Capacity and Quality - The company completed 44 regulatory inspections with a 100% success rate[9, 66] - The company has 16 drug substance facilities and DP facilities with ~500,000L bioreactor capacity[51] Technology and Innovation - The company has enabled 50+ programs with potential milestone & sales royalty[13, 40] - The company is scaling out single-use technology to large batch sizes, with 339 batches across 5 manufacturing facilities[99] WBS and ESG - The company is improving gross margin through WBS initiatives[105] - The company is committed to sustainability and has received several ESG ratings and awards[108]