Core Insights - WuXi AppTec (603259.SH) reported a revenue of 32.857 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 18.61% [1] - The net profit attributable to shareholders reached 12.076 billion yuan, with a significant year-on-year increase of 84.84% [1] - The net profit excluding non-recurring gains and losses was 9.522 billion yuan, reflecting a year-on-year growth of 42.51% [1] Chemical Business - The chemical business generated revenue of 25.98 billion yuan, marking a year-on-year increase of 29.3% [1] - The small molecule drug discovery ("R") business has successfully synthesized and delivered over 430,000 new compounds for clients in the past twelve months [1] - The company has converted 250 molecules from research to development (R to D) in the first three quarters of 2025 [1] Small Molecule Development and Manufacturing - The small molecule development and manufacturing (D&M) business reported revenue of 14.24 billion yuan, showing a year-on-year growth of 14.1% [2] - A total of 621 new molecules were added to the small molecule D&M pipeline in the first three quarters of 2025, bringing the total to 3,430, which includes 80 commercial projects and 87 clinical phase III projects [2] - The company successfully passed FDA inspections at its Changzhou and Taixing API bases with zero defects in March 2025 [2] TIDES Business - The TIDES business (oligonucleotides and peptides) experienced rapid growth, with revenue reaching 7.84 billion yuan, a year-on-year increase of 121.1% [3] - As of September 2025, TIDES orders on hand grew by 17.1% year-on-year, with the number of clients served increasing by 12% and the number of molecules served rising by 34% [3] - The company completed the capacity expansion for peptides in Taixing ahead of schedule, increasing the total volume of solid-phase synthesis reactors to over 100,000 liters [3]

Core Insights - WuXi AppTec (02359) reported an unaudited interim performance for the six months ending June 30, 2025, with revenue of 20.799 billion RMB, a year-on-year increase of 20.6% [1] - The gross profit reached 9.112 billion RMB, up 36% year-on-year, while the net profit attributable to shareholders was 8.287 billion RMB, reflecting a significant increase of 95.5% [1] - The company proposed an interim dividend of 3.5 RMB per 10 shares [1] Revenue Breakdown - The company’s revenue from ongoing operations was 20.41 billion RMB, with significant contributions from various regions: 14.03 billion RMB from U.S. clients (up 38.4%), 2.33 billion RMB from European clients (up 9.2%), 3.15 billion RMB from Chinese clients (down 5.2%), and 0.9 billion RMB from other regions (up 7.6%) [1] Chemical Business Performance - The chemical business generated revenue of 16.3 billion RMB, marking a year-on-year growth of 33.5% [2] - The small molecule drug discovery segment successfully synthesized and delivered over 440,000 new compounds in the past twelve months [2] - The small molecule development and manufacturing (D&M) segment reported revenue of 8.68 billion RMB, a 17.5% increase year-on-year, with a total of 3,409 molecules in the pipeline as of June 30, 2025 [2] TIDES Business Growth - The TIDES business (oligonucleotides and peptides) experienced rapid growth, with revenue reaching 5.03 billion RMB, a remarkable increase of 141.6% [3] - The backlog of TIDES orders grew by 48.8% year-on-year, with a 12% increase in the number of clients served and a 16% increase in the number of molecules served [3] - The company is expanding its peptide production capacity, expecting the total volume of solid-phase synthesis reactors to exceed 100,000L by the end of 2025 [3]