Core Insights - WuXi AppTec (603259.SH) reported a significant increase in net profit for the first three quarters, reaching 12.076 billion yuan, a year-on-year surge of 84.84%, exceeding market expectations [1] - The company announced the sale of two clinical research subsidiaries for 2.8 billion yuan, aiming to focus on its CRDMO core business [1] - WuXi AppTec raised its full-year revenue guidance for 2025 to a range of 43.5 billion to 44 billion yuan, reflecting strong operational resilience and confidence in growth post-strategic focus [1] Financial Performance - For the first three quarters, WuXi AppTec achieved operating revenue of 32.857 billion yuan, a year-on-year increase of 18.61% [1] - The net profit for the third quarter alone was 3.515 billion yuan, with revenue of 12.057 billion yuan, showing year-on-year growth rates of 53.27% and 15.26% respectively [1] - The growth in profit is attributed to the company's focus on the CRDMO business model, operational efficiency improvements, and increased capacity from late-stage clinical and commercial projects [1] Investment Gains - WuXi AppTec has realized significant investment gains from the phased sale of shares in its associate company, WuXi AppTec Holdings, contributing approximately 4.351 billion yuan to net profit for the 2025 fiscal year [2] - The company sold shares in WuXi AppTec Holdings multiple times, generating investment income of about 1.297 billion yuan and 1.847 billion yuan from different transactions [2] Order Backlog - As of the end of September, WuXi AppTec's order backlog reached 59.88 billion yuan, reflecting a year-on-year growth of 41.2% [3] Strategic Focus - WuXi AppTec has raised its full-year performance guidance for 2025, expecting a revenue growth rate adjustment from 13%-17% to 17%-18% [4] - The company plans to focus on its core CRDMO business, aiming to enhance operational efficiency and increase adjusted non-IFRS net profit margins [4] - The capital expenditure forecast for 2025 has been revised down to 5.5 billion to 6 billion yuan, while free cash flow expectations have been raised to 8 billion to 8.5 billion yuan [4] Asset Divestiture - The divestiture of the clinical research subsidiaries is part of WuXi AppTec's strategy to concentrate on drug discovery, laboratory testing, and process development within the CRDMO sector [5]