Business
WuXi Biologics Reports Solid 2024 Annual Results and Expects Accelerated Growth in 2025
WuXi Biologics (Cayman) Inc. ("WuXi Biologics" or "the Group", stock code: 2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO) service company offering end-to-end solutions for biologics discovery, development and manufacturing, is pleased to announce its audited annual results for the year ended December 31, 2024 ("Reporting Period").
About this update from Wuxi Biologics (cayman) Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Revenue grew 9.6% YoY to RMB 18,675.4 million, with non-COVID revenue up 13.1% YoY","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA grew 14.4% YoY to RMB7,999.3 million and Adjusted Net Profit increased 9.0% YoY to RMB5,396.9 million","length":117,"tagName":"p"}]},{"val":[{"type":"text","content":"Added 151 new integrated projects, including 13 in late-stage and commercial stage","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"Total integrated projects reached 817, one of the largest portfolios of complex biologics","length":89,"tagName":"p"}]},{"val":[{"type":"text","content":"Research Services enabled 7 global programs for molecule discovery, eligible to receive ~$140 million in near-term payments","length":123,"tagName":"p"}]},{"val":[{"type":"text","content":"Completed 16 PPQs in 2024, with 24 PPQs scheduled for 2025","length":58,"tagName":"p"}]},{"val":[{"type":"text","content":"Strengthened global presence to support continued business momentum","length":67,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":618,"olType":false},{"type":"text","content":"HONG KONG, March 25, 2025 /PRNewswire/ -- WuXi Biologics (Cayman) Inc. ("WuXi Biologics" or "the Group", stock code: 2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO) service company offering end-to-end solutions for biologics discovery, development and manufacturing, is pleased to announce its audited annual results for the year ended December 31, 2024 ("Reporting Period").","length":454,"tagName":"p"},{"type":"text","content":"Financial Highlights ","length":20,"tagName":"p"},{"type":"text","content":"Revenue: For the year ended December 31, 2024, the Group's revenue grew 9.6% YoY to RMB18,675.4 million, with non-COVID revenue increasing 13.1% YoY. The growth was primarily driven by: (i) the successful execution of the Group's "Follow and Win the Molecule" strategies, coupled with the leading technology platform, best-in-industry timeline and excellent execution track record; (ii) enlarged spectrum of services offered to the biologics industry, fast growing technology platforms including ADCs and bispecific antibodies; (iii) growth of research services revenue generated from the Group's v...