Core Viewpoint - The company reported strong financial performance for H1 2025, driven by high demand in the TEDIS business, leading to an upward revision of its annual performance guidance [1][4]. Group 1: Financial Performance - In H1 2025, the company achieved revenue of 20.8 billion yuan, a year-on-year increase of 20.6%, with continuous operations revenue growing by 24.2% [1]. - Adjusted net profit attributable to shareholders reached 6.31 billion yuan, up 44.4% year-on-year, while the net profit attributable to shareholders was approximately 8.56 billion yuan, reflecting a 101.9% increase [1]. - For Q2 2025, the company reported revenue of 11.14 billion yuan, a 20.4% year-on-year growth, and adjusted net profit of 3.64 billion yuan, up 47.9% [1]. Group 2: Business Segments - **Chemical Business (WuXi Chemistry)**: H1 2025 revenue was 16.3 billion yuan, a 33.5% increase, with an adjusted gross margin of 49.0%, up 5.2 percentage points. The TIDES business saw revenue of 5.03 billion yuan, a significant 141.6% increase [2]. - **Testing Business (WuXi Testing)**: H1 2025 revenue was 2.69 billion yuan, a slight decline of 1.2%, with an adjusted gross margin of 25.1%, down 12.3 percentage points. Q2 2025 showed signs of recovery with a 5.5% year-on-year growth in laboratory analysis and testing services [3]. - **Biology Business (WuXi Biology)**: H1 2025 revenue was 1.25 billion yuan, a 7.1% increase, with an adjusted gross margin of 36.4%, down 0.7 percentage points. The business contributed to over 30% of new customer acquisition [4]. Group 3: Market Dynamics - The company has a strong international presence, with approximately 85% of revenue coming from overseas clients. Revenue from U.S. clients was 14.03 billion yuan, up 38.4%, while revenue from Chinese clients decreased by 5.2% to 3.15 billion yuan [5]. - The company’s order backlog for continuous operations reached 56.69 billion yuan, a 37.2% year-on-year increase, indicating robust future growth potential [4]. Group 4: Future Outlook - The company has revised its 2025 revenue growth target for continuous operations from 10-15% to 13-17%, with overall revenue targets adjusted from 41.5-43 billion yuan to 42.5-43.5 billion yuan [4]. - The company expects to maintain strong growth trends in the second half of 2025, supported by high demand in the TEDIS business [4].