Wuxi Xdc Cayman, Inc. · HKEX:2268
Wuxi Xdc Cayman — 44th Annual J.P. Morgan Healthcare Conference 2026
34 slides from Wuxi Xdc Cayman's conference presentation, Jan 14, 2026
Slide 1: Inside Information: Presentation at 2026 Annual Healthcare Conference
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in relia
Slide 2: Announcement notice and board of directors
Shareholders and potential investors of the Company are advised not to place undue reliance on the information contained in the Presentation and should exercise caution when dealing in the securities of the Company. By order of the Board WuXi XDC Cayman Inc. Dr. Jincai LI Executive Director and Chie
Slide 3: WuXi XDC: Sustained Leadership Through Capacity Expansion and Accelerated Innovation
Stock Code: 2268.HK WuXi XDC: Sustained Leadership Through Capacity Expansion and Accelerated Innovation 44th Annual J.P. Morgan Healthcare Conference Speaker: Dr. Jimmy Li, CEO Date: January 2026
Slide 4: Disclaimer
Disclaimer Forward-Looking Statements This presentation may contain certain “forward-looking statements” which are not historical facts, but instead are predictions about future events based on our beliefs as well as assumptions made by and information currently available to our management. Although
Slide 5: Contents
WuXi XDC: Pure-play and the Best CDMO Winner for Bioconjugates Contents Three-Year Consecutive Winner of the “Best CDMO” At World ADC Awards in 2023, 2024, 2025 Summary of Year 2025 and 1 - Another Journey of Excellence Winner of the “Best CRO” At World ADC Awards in 2025 2 Our Business Model and St
Slide 6: Summary of Year 2025
01 Summary of Year 2025 - Another Journey of Excellence
Slide 7: Year 2025 – Key Achievements and Milestones
Year 2025 – Key Achievements and Milestones - Serving 600+ customers worldwide, with total 252 iCMC projects - 70 iCMC projects signed, with 22 iCMC projects won and 10 PPQs added in 2025 Innovation & - 120+ global IND submissions by 2025 cumulatively Execution - Enhanced technology toolbox: WuXi DA
Slide 8: Year 2025 – Key Achievements and Milestones (Cont'd)
Year 2025 – Key Achievements and Milestones (Cont'd) Positive Profit Alert Announced for 2025 Financial Results(1) 1. Revenue: an increase of more than 45% as compared to the year ended December 31, 2024; 2. Gross profit: an increase of more than 70% as compared to the year ended December 31, 2024.
Slide 9: Our Business Model and Strengths
02 Our Business Model and Strengths
Slide 10: WuXi XDC: Single Source Solution for Bioconjugates
WuXi XDC: Single Source Solution for Bioconjugates Single-Source ADC/XDC Manufacturing Capacity and Global Dual-Sourcing Footprint Research and Development Bioconjugate Formulation Conjugation Bioconjugate DS Process Development and DS/DP Payload-linker (Drug Substance) DP (Drug Product) Manufacturi
Slide 11: Our Business Model Continues to Win Customers and Projects Globally
Our Business Model Continues to Win Customers and Projects Globally Number of Projects Through “Enable – Follow – Win” Strategy “R” "Research”: Enable discovery to PCC 1039 Discovery(1) / 681 (3) 70 projects advanced from discovery to iCMC stage (1) 124 Preclinical / 102 (3) "Development": Faster ro
Slide 12: 70 Newly Signed Projects: Powering Innovation-Driven Growth in CRDMO
70 Newly Signed Projects: Powering Innovation-Driven Growth in CRDMO Sustained momentum 70 newly signed: emerging novel in iCMC projects signing modalities & indications 70 ~20% ~5% 50 53 Bi-specific Dual-payload ADCs ADCs ~17% ~10% XDCs Non- 2023 2024 2025 oncology ➢ The 70 newly signed iCMC projec
Slide 13: Rapidly Growing High Quality Client Base and Market Share
Rapidly Growing High Quality Client Base and Market Share Steadily Increasing Customer Base Growing Multinational Pharma Presence(4) Cumulative +130 630+ +154 499 14 ~32% +80 out of 20 345 265 Global pharma customers from Revenue contributed by “Top 20 Pharmaceutical “Top 20 Pharmaceutical 2022 2023
Slide 14: Bioconjugation Process Development Track Record Through Diversified Projects
Bioconjugation Process Development Track Record Through Diversified Projects Antibody Peptide Antibody Oligos Fatty Acid Conjugate Conjugates (APC) Conjugation (AOC) (AFC) 252 (1) Bioconjugates Process-developed Antibody Drug Antibody Chelator Antiviral Conjugate PEGylation Conjugates (ADC) Conjugat
Slide 15: Research Expertise Powers ADC/XDC Innovation
Research Expertise Powers ADC/XDC Innovation: Differentiated and Abundant R&D Activities in 2025 Research Engine: 5,600+ ADC/XDC Molecules Explored in 2025 ~3,400 ~1,700 ADC Molecules XDC Molecules 600+ ~530 ~500 ~61% (32%) (~30%) 2,300+ ~30% ~2,800 ~9% ~500 Intermediate ~350 ~190 Molecules (21%) (~
Slide 16: Ongoing Commitment to Cutting-Edge Technologies
Ongoing Commitment to Cutting-Edge Technologies, Unlocking Vast Clinical Validation Opportunities Evolving WuXi XDC Proprietary Toolbox to Seize Industry Trend Conjugation Technologies… Novel Payload-Linkers… (1) WuXiTecan-1 and X-LinC WuXiTecan-2 • The upgraded version • Launched in 2024 • Newly la
Slide 17: WuXiDAR1: AOC Development without mAb Engineering
WuXiDAR1™ : AOC Development without mAb Engineering WuXiDAR1™ combines the process of WuXiDAR2™ with thiol-rebridging connector to produce homogeneous DAR1 ADCs or AOCs. • No protein engineering, e.g., thiomab D1 • Adapt to thiol-rebridging connector D0 D2 • No column purification D3 D0 (%) D1 (%) D
Slide 18: WuXiDAR2: CMC Friendly, Site-specific Conjugation
WuXiDAR2™: CMC Friendly, Site-specific Conjugation WuXiDAR2™ offers narrow DAR distribution with a simple process. Compatible with human IgG1 and most thiol-reactive Payload-linkers. • No protein engineering • No LP modification D2 • No column purification D0 D4 D0 (%) D2 (%) D4 (%) D6 (%) D8 (%) DA
Slide 19: WuXiDARx Technology Enables Dual-payload ADC Discovery
WuXiDARx Technology Enables Dual-payload ADC Discovery 17
Slide 20: Global Development Strategy
03 Global Development Strategy
Slide 21: A Unified Vision and Strategic Blueprint for Commercial Success
A Unified Vision and Strategic Blueprint for Commercial Success Commercialization Strategy - a systematic growth engine built around diversified MFG capabilities, rich funnel, and globalization ADC/BsADC ADC/BsADC, AOC, Growth plans Modalities ADC APC APC, DpADC by 2030 Wuxi, Singapore, Wuxi, Singap
Slide 22: Continuous Strategic Expansion Backed by Strong Balance Sheet
Continuous Strategic Expansion Backed by Strong Balance Sheet and Diversified Financing Channels 1 Syndicated Loan 2 Equity Placement 3 Cash and Cash Flow Cash available From Operations USD$200mm USD$350mm >USD$900mm(1) >USD$ 2025 June 2025 September Estimation for 2025FY 1bn (2) Organic Growth Stra
Slide 23: Our Global Manufacturing Facilities
Our Global Manufacturing Facilities Wuxi Changzhou Shanghai Suzhou(2) Singapore • mAb intermediate Payload-linker Global R&D mAb, DS, DP • mAb intermediate • Manufacturing Center manufacturing Payload-linker New! • Drug substance • Drug substance • Drug product • Drug product Jiangyin (under constru
Slide 24: Wuxi Site: All-in-One Manufacturing for Clinical and CMO Projects
Wuxi Site: All-in-One Manufacturing for Clinical and CMO Projects Wuxi Site 2025 Milestones • DP3 facility achieved GMP release in July 2025, with full order book • High utilization on current six production lines (BCM1, BCM2 L1, BCM2 L2, DP1, DP2 and DP3) • New DP lines DP5 and DP6 are planned and
Slide 25: Singapore Site: Cornerstone for Commercial Manufacturing
Singapore Site: Cornerstone for Commercial Manufacturing Mechanical Completion June 2025 Service Scopes Construction Status March 2025 Antibody and Protein Intermediates Up to 2,000 L Drug Substance Manufacturing Up to 2,000 L Drug Product 8 m vials More vials Manufacturing GMP release by mid 2026 w
Slide 26: Hefei Site: Initiatives for Peptide Drug Conjugates Synthesis and R&D Center
Hefei Site: Initiatives for Peptide Drug Conjugates Synthesis and R&D Center Peptide Synthesis R&D Site Acquisition closed in Aug 2025 • Site Location: Hefei, Anhui, China • R&D Facility: 6000+ m2 • R&D Team: 40+ skilled personnel • Annual Peptide Output: 40+ kg Discovery Pre-IND IND Mg to g G to 10
Slide 27: Continuous Capex Investment to Meet Increasing Global Demands
Continuous Capex Investment to Meet Increasing Global Demands Operational and Committed Facilities 2025 Actual and 2026 Forecast Capex 2024 2025 2026 2027 RMB Mm Domestic Singapore NO Facility 1H 2H 1H 2H 1H 2H 1H 2H 1 BCM1 ~1,700 2 BCM2 L1 ~1,220 500 3 PLM1 720 1,200 4 DP1 500 5 DP2 2025 2026 6 BCM
Slide 28: Growth Strategy for 2025-2030: R, D, M Firing in All Cylinders
Growth Strategy for 2025-2030: R, D, M Firing in All Cylinders Co. CAGR 30-35%(1) 2025 2030 Industry average ~25.6%(2) R Frontier Molecule D Acceleration to FIH M Commercial MFG • Sustained commitment to core • Seamless integration of • First time right in BLA/PLI & technologies (conjugation, linker
Slide 29: Appendix
b 04 Appendix ————
Slide 30: Suzhou Site: Manufacturing for Clinical and CMO Projects
Suzhou Site: Manufacturing for Clinical and CMO Projects A “one-base, end-to-end” MFG site for antibodies, fusion proteins, ADCs, and various bioconjugates mAb DS DP Located in Suzhou Industry Park, the facilities span 50,000 m2 ➢ Full function ADC CDMO site(1) mAb 2 facilities, 80+ batches /y inter
Slide 31: Strong Momentum of Deal Activities in ADC & XDC in 2025
Strong Momentum of Deal Activities in ADC & XDC in 2025 Summary of Deal Activities in 2025(1) • In 2025, China‘s out-licensing transactions for Financing M&A Licensing innovative drugs experienced explosive growth, with Total # of Deals the cumulative transaction amount exceeding 1,300 billion USD,
Slide 32: Latest R&D Trends of Bioconjugates
Latest R&D Trends of Bioconjugates: Sustained Growth Through Multidimensional Advances Across the Industry 1 ADC combination BsADCs and dpADCsremains gainsamomentum R&D focus with in 2025 4 RDC getting more attractions potential further breakthrough in 1L treatment • 1L approved: Nectin 4 ADC + PD-1
Slide 33: Novel Drug Conjugates Drive Sustainable Fast Growth
Novel Drug Conjugates Drive Sustainable Fast Growth Antibody- Based Novel ADCs 2025 1H # of candidate drugs1 2025 1H YoY 237 87.8% 600+, ~74%YoY 1700+, ~35% YoY 400+, ~88%YoY 69 61 48 35 14 BsADCs AOC dpADCs DAC Antibody dp BsADCs Fragment-DCs ➢ Novel ADCs YoY growth outpaced traditional ADCs, and a
Slide 34: Massive Addressable Market Across Various Therapeutic Paradigms
Massive Addressable Market Across Various Therapeutic Paradigms Future of precision chemotherapeutics $34+bn $253.8bn 2024 2024 Oncology Chemotherapy therapeutics market Oncology market1 $394.5bn 2024 Biologics market XDC potential market Autoimmune Diagnostics Infectious Vaccines … $13.2bn 2024 ADC
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