Core Insights - WuXi Biologics (02269) reported a record high of 86 new comprehensive projects signed in the first half of 2025, increasing the total number of comprehensive projects to 864, solidifying its leading position in the industry with one of the largest complex biologics product lines [1] - The company has raised its full-year revenue guidance for 2025 to a growth range of 14%-16% due to rapid performance growth [1] Project Performance - As of June 30, 2025, WuXi Biologics had 67 clinical phase III and 24 commercial production projects on its integrated platform, with revenue increasing by 24.9% year-on-year [1] - The research services have empowered over 50 molecular projects, with potential milestone payments and sales royalties expected to significantly enhance the company's long-term profit growth [1] Clinical Development - A molecule developed for GSK has entered the clinical stage, marking the fourth TCE project enabled by WuXi Biologics to reach this phase [1] Order Backlog - The total amount of unfulfilled orders for WuXi Biologics exceeds $20.34 billion, with unfulfilled orders over the past three years growing to $4.21 billion, indicating a substantial expected revenue increase in the near term [1]

截至2025年6月30日，药明生物一体化平台上的临床III期及商业化生产项目分别达67和24个，收益同比 增24.9%。此外，其研究服务已经赋能50多个分子项目，并有权益收取未来的潜在里程碑付款和销售提 成，将显著提升公司长期利润增长。其为GSK开发的一款分子已进入临床阶段，成为药明生物赋能的第 四个进入临床阶段的TCE项目。 项目订单方面，药明生物未完成订单总额超200亿美元，达203.4亿美元。3年内未完成订单总额增长至 42.1亿美元，近期收入预期增长可观。 智通财经APP获悉，药明生物(02269)2025年中期业绩发布，上半年新签综合项目86个，创同期历史新 高，推高综合项目总数至864个，进一步巩固其拥有业界最大的复杂生物药产品线之一的领先地位。新 签项目中，双抗\多抗、ADC占比超70%，引领创新生物药两大黄金赛道。业绩快速增长支撑药明生物 上调2025全年收入指引至14%-16%。 ...