WuXi AppTec Delivers Strong Revenue and Profit Growth in Q1 2026

• Total Revenue Reached RMB 12.44 Billion; Revenue from Continuing Operations Up 39.4% YoY
• Adjusted Non-IFRS Net Profit Up 71.7% YoY to RMB 4.60 Billion
• Backlog for Continuing Operations Up 23.6% YoY to RMB 59.77 Billion

SHANGHAI, April 27, 2026 /PRNewswire/ -- WuXi AppTec (stock code: 603259.SH / 2359.HK), a leading global pharmaceutical CRDMO (Contract Research, Development, and Manufacturing Organization), today announced financial results for the first quarter ending March 31, 2026 ("Reporting Period"): 

• Total revenue reached RMB 12.44 billion, up 28.8% YoY; revenue from Continuing Operations up 39.4% YoY.
• Adjusted non-IFRS gross profit margin up 8.5pts YoY to 50.4%.
• Adjusted non-IFRS net profit up 71.7% YoY to RMB 4.60 billion; adjusted non-IFRS net profit margin up 9.2pts YoY to 37.0%; adjusted non-IFRS diluted EPS^[1] up 67.0% YoY to RMB 1.57.
• Net profit^[2] up 26.7% YoY to RMB 4.65 billion; diluted EPS up 23.4% YoY to RMB 1.58.
• Backlog for Continuing Operations reached RMB 59.77 billion as of March 31,2026, up 23.6% YoY, as we continue to focus on our core CRDMO strategy and further enhance business visibility. 
• Adjusted operating cash flow^[3] up 21.7% YoY to RMB 3.69 billion, driven by sustained business growth, enhanced operational efficiency and financial management.
• Sustained and steady business growth driven by our unique, fully integrated CRDMO platform. Guided by "follow the molecule" and "win the molecule" strategies, WuXi Chemistry's small molecule CRDMO pipeline continues to efficiently convert and capture high-quality molecules, delivering sustained business growth. In the first quarter of 2026, we added 328 new molecules to the small molecule Development and Manufacturing (D&M) pipeline. As of March 31, 2026, our small molecule D&M pipeline reached 3,550 molecules, representing an increase of 9 projects in phase III and commercial stages in the first quarter of 2026.
• The Company reaffirms its full-year guidance with strong confidence. We are closely monitoring market dynamics and business development, and will raise guidance when appropriate.

Management Comment 

Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, "In the first quarter, our business segments delivered broad-based momentum, with strong growth in both revenue and profit. Our backlog of RMB 59.8 billion for Continuing Operations reflects the strength of our unique CRDMO business model, efficiently enabling the growing needs of our customers."

"Building on this solid performance and sustained efficient execution, we are fully confident in achieving our 2026 full-year guidance. We are accelerating proactive capacity planning and global capability building, continuously enhancing operational and management resilience, and delivering even greater value for customers and shareholders."

"WuXi AppTec remains committed to our core value of 'doing the right thing and doing it right,' enabling our global partners and realizing our vision that 'every drug can be made and every disease can be treated.'"

Business Performance by Segment

• WuXi Chemistry: Continuous Pipeline Expansion and Steady Late-stage Progression, While Accelerating Proactive Capacity Planning
  • Driven by steady pipeline progression to late stages, and the sequential ramp-up of new capacity throughout last year, Q1 revenue of WuXi Chemistry reached RMB 10.62 billion, up 43.7% YoY.
  • With continued optimization of production processes and improvements in capacity efficiency driven by the growth of late-stage clinical and commercial projects, Q1 adjusted non-IFRS gross profit margin of WuXi Chemistry steadily improved 5.4pts YoY to 52.8%.
  • We are accelerating proactive capacity planning. We plan to initiate the new Changzhou site ahead of schedule to better meet growing customer demand.
  • Small molecule drug discovery service ("R") continues to generate downstream opportunities. In the past 12 months, we successfully synthesized and delivered more than 420,000 new compounds to global customers. Meanwhile, 83 molecules were converted from R to D phase. Guided by our "follow-the-customer" and "follow-the-molecule" strategies, we have built trusted partnerships that underpin the sustainable growth of our CRDMO business.
  • Small molecule D&M service maintains strong momentum.

i. The small molecule CDMO pipeline continued to expand, adding 328 new molecules in the first quarter of 2026. As of March 31, 2026, our pipeline reached 3,550 molecules, including 89 commercial projects, 94 in phase III, 386 in phase II and 2,981 in phase I and pre-clinical stages. Notably, commercial and phase III projects increased by 9 during the first quarter.
ii. With our business model continuously attracting high-quality molecules, and the pipeline steadily advancing to late stages, aligned with proactive capacity planning and strong execution, Q1 revenue of small molecule D&M rose 80.1% YoY to RMB 6.93 billion.

• • TIDES business (oligo and peptides) sustains rapid growth.

i. TIDES Q1 revenue up 6.1% YoY to 2.38 billion, with full-year revenue expected to grow about 40% YoY.
ii. TIDES D&M customers grew 28% YoY, and molecules grew 59% YoY.

• WuXi Testing^[4]: Strengthening Differentiated Capabilities and Operational Management; Drug Safety Evaluation Services Maintained Leading Position
  • WuXi Testing Q1 revenue increased 27.4% YoY to RMB 1.13 billion. Notably, revenue from drug safety evaluation services grew 34.8% YoY, maintaining an industry-leading position in the Asia-Pacific region.
  • Driven by differentiated capabilities and enhanced operational management, WuXi Testing gross profit margin continued to improve sequentially each quarter, with Q1 adjusted non-IFRS gross profit margin up 10.8pts YoY to 35.5%.
  • The Company is committed to actively enabling customers in global licensing deals. New modality business continued its strong momentum, contributing more than 30% of WuXi Testing Q1 revenue, while maintaining its leading position in areas including nucleic acids, conjugates, multispecific antibodies and peptides.
  • The Company continued to drive excellence across R&D and service capabilities, with DMPK steadily advancing new capacity in Qidong and Shanghai to efficiently respond to growing and diversified customer demand.

• WuXi Biology: Continues to Follow the Science & Generate Downstream Opportunities; In Vivo & In Vitro Synergies and New Modalities Drove Growth  
  • WuXi Biology builds differentiated drug discovery capabilities in emerging therapeutic areas. It actively expands global business and efficiently generates downstream opportunities for the CRDMO model by continuously contributing more than 20% of the Company's new customers.
  • We efficiently enable our global customers through integrated in vitro & in vivo drug discovery capabilities, cross-regional collaboration and end-to-end solutions in emerging areas. Q1 revenue of WuXi Biology reached RMB 0.67 billion, up 10.1% YoY.
  • With continuous business integration and enhanced operational efficiency, WuXi Biology Q1 adjusted non-IFRS gross profit margin increased 0.4pts YoY to 36.7%. WuXi Biology closely follows the market and maintains a dynamic pricing strategy, maximizing its value in generating downstream opportunities.
  • We achieved rapid revenue growth driven by accelerated progress in integrated in vitro screening and enhanced in vivo pharmacology capabilities. Non-oncology business maintained a competitive edge, serving as a key growth contributor.
  • New modality business continued to drive growth, contributing more than 30% of WuXi Biology Q1 revenue, supported by rapid new customer expansion in areas including nucleic acids, antibody conjugates and peptides.

This release provides a summary of the results and does not intend to provide a complete statement relating to the Company, its securities, or any relevant matters herein that a recipient may need in order to evaluate the Company. For additional information, please refer to the WuXi AppTec 2026 First Quarterly Results Presentation and 2026 First Quarterly Report disclosed on the Company's official website, as well as the Company's disclosure documents and information on the websites of Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited. Investors are advised to exercise caution and be aware of the investment risks in trading Company shares.

Net profit attributable to the owners of the Company ("Net Profit") is prepared in accordance with China Accounting Standards for Business Enterprises ("CAS"), in currency of RMB. All other financial information disclosed in this press release is prepared in accordance with the International Financial Reporting Standards Accounting Standards ("IFRS"), in currency of RMB.

The 2026 First Quarterly Report of the Company has not been audited.

About WuXi AppTec

WuXi AppTec is a trusted partner and contributor to the pharmaceutical and life sciences industries, providing R&D and manufacturing services that help advance healthcare innovation. With operations across Asia, Europe, and North America, we offer integrated, end-to-end services through our unique CRDMO (Contract Research, Development, and Manufacturing Organization) platform. We are privileged to work alongside partners across 30+ countries, supporting their efforts to bring breakthrough treatments to patients. Guided by our vision that every drug can be made and every disease can be treated, we are committed to advancing breakthroughs for patients—one collaboration at a time. Learn more at https://www.wuxiapptec.com.

Forward-Looking Statements

This press release may contain certain statements that are or may be forward looking, which can be recognized by the use of words such as "expects", "plans", "will", "estimates", "projects", "intends", or words of similar meaning. Such forward-looking statements are not historical facts, but instead are predictions about future events based on our beliefs, development strategy, business plan as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward-looking statements are subject to risks relating to, among other things, our ability to meet timelines for the expansion of our service offerings or to reach the scale of our production capacity expansion plans, our ability to protect our clients' intellectual property, competition, unforeseeable change of international policy, the impact of emergencies and other force majeure. Our forward-looking statements do not constitute any profit forecast by our management nor an undertaking by WuXi AppTec Co., Ltd. ("WuXi AppTec" or the "Company") to our investors. ACCORDINGLY, YOU ARE STRONGLY CAUTIONED THAT RELIANCE ON ANY FORWARD-LOOKING STATEMENTS INVOLVES KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and we do not undertake any obligation to update any forward-looking statement or information in this press release to reflect future events or circumstances, except as required under applicable law.

Continuing Operations and Discontinued Operations

In accordance with IFRS, the Company has classified operations with signed equity sale agreements, completed sales, or those being discontinued during the reporting period or comparative periods as discontinued operations ("Discontinued Operations"). Comparative disclosures have been adjusted accordingly. The remaining operations of the Company will continue to be reported as continuing operations ("Continuing Operations").

Use of Adjusted Non-IFRS Financial Measures

To supplement the Company's IFRS consolidated financial statements, we also provide adjusted non-IFRS gross profit, adjusted non-IFRS net profit attributable to the owners of the Company ("Adjusted Non-IFRS Net Profit), adjusted non-IFRS diluted earnings per share ("Adjusted Non-IFRS Diluted EPS") and adjusted operating cash flow. These measures are not required by, or presented in accordance with IFRS.

We believe that the adjusted non-IFRS financial measures used in this presentation are useful for understanding and assessing our core business performance and operating trends, and we believe that management and investors may benefit from referring to these measures in assessing our financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and non-operating items that we do not consider indicative of the performance of our core business. The management of the Company believes such adjusted non-IFRS financial measures is widely accepted and adopted in the industry the Company operates. However, the presentation of these adjusted non-IFRS financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with IFRS. You should not view adjusted results on a stand-alone basis or as a substitute for results under IFRS, or as being comparable to results reported or forecasted by other companies.

SOURCE WuXi AppTec