2025 WuXi AppTec Investor Day
CRDMO: Driving Sus tainable Financial StrengthFlorence Shi
Chief Financial Officer
1
603259.SH / 2359.HK
Accelerating Growth Beyond Indus try Momentum
3x
WXAT Rev CAGR
2x +24%
WXAT Rev Reached
RMB 1.0Bn in 2007
NBI CAGR
-5%
WXAT Rev CAGR
+23%
NBI CAGR
+12%
NBI CAGR
+8%
2000
2007
2012
2018
2025E
NASDAQ Biotech Index (NBI), Bloomberg, 2000/01/01-2025/09/24
3
Expanding Competitive Advantage Through a Unique Value PropositionSeven - Year Track Record with Ongoing Momentum
+7%
+23%
+32%
+4%
+13%
+15%
+11%
2018
2019
2020
2021
2022
2023
2024
1H'25
+37%
4 1) 5 Top China Competitors in CRO & CDMO segments, same definition in the following pages
Powering Rapid "D&M" Growth through Stronger "R" Capabilities38% Backlog Growth with 55% D&M Backlog Growth 2x "R" Orders Amplifies 17x "D&M" Orders
(RMB in Bn)
56.7
+38%
49.3
33.3
27.9
31.1
14x
17x
8x
7.0
10.9
14.8
2018
2019
2020
2021
2022
2023
2024
2x
1H'25
5 1) Continuing business only
Delivering Indus try Insights for Optimal Capacity Planning to Secure High-Value Opportunities
41%
41%
41%
40%
42%
42%
42%
New High
Adj. Non-IFRS
GP% @ CER1)
D&M Capex Spending Portion
Increased from 28% to ~85%
1H'25 45%
2018 2019 2020 2021 2022 2023 2024 2025E
Established CRDMO base Focusing on D&M
6 1) Restate GP% to Constant Exchange Rate
Maintaining Organizational Agility and Elevating Operational Efficiency
Doubling Per - Capita Productivity
50% Reduction in SG&A Ratio
-50%
15.3% 14.9% 14.7%
12.7%
9.0%
8.9%
9.2%
7.5%
1,118
2x
542
2018 2019 2020 2021 2022 2023 2024 2025E
2018
2019
2020
2021
2022
2023
2024
1H'25
WuXi AppTec Per Capita Output (RMB in K) 1)
WuXi AppTec SG&A ratio as of Revenue 2)
7 1) Per Capita Output = Revenue / Ending HC
2) SG&A under PRC reporting
Proven Resilient Profitability Through the CRDMO Model, Operating Strategy and Outs tanding Execution18%
Adj. Non-IFRS NI%
New
High
18%
22%
22%
27%
24%
27%
1H'25 30%
9.4
10.9
10.6
5.1
1.7
2.3
3.6
Revenue CAGR 24% vs Adj. Non-IFRS NI CAGR 30%+
Adj. Non-IFRS NI
(RMB in Bn)
2018 2019 2020 2021 2022 2023 2024 2025E
8
Fueling Robust Operating Cash Flow Through the CRDMO Model and Efficiency Gains2.4x
35%
31%
31%
26%
23%
20%
19%
16%
12.6
12.0
10.2
3.8
4.4
1.5
2.5
2018
2019
2020
2021
2022
2023
2024
2025E
9
Enabling Value Creation and Consis tent Shareholder ReturnsContinuously Improved EPS
Total RMB 20Bn Dividends & Share Buybacks
Basic Earning Per Share Dividend Payout & Share Buybacks for Cancellation
~7x
3.0
3.3
3.3
1.8
0.7
1.1
7.1
6.8
2.9
4.2
2.0
0.7 0.6
0.9
4.8
1.5
2.6
2019 2020 2021 2022 2023 2024 2025E
2019
2020 2021 2022 2023 2024
2025
1) Restate 2019 & 2020 EPS to reflect the changes in shares volume according to 2020 Profit Distribution Plan as per 2020 Annual Report
Dividends Declared (RMB in Bn)
Share Buybacks for Cancellation (RMB in Bn)
Outperforming Total Shareholder Return
Total Shareholder Return (TSR)
total return in 7 years
WuXi AppTec: 12.3x
CXO index: China 3.3x / & Global 1.5x
Biotech: Nasdaq 1.7x / S&P 1.2x
Healthcare index: S&P 1200 Health Index 2.0x
Total Shareholder Return from 2018/5/8 to 2025/9/24
Source: Bloomberg (Total Shareholder Return since IPO)
Total Shareholder Return is the growth in value of a shareholding over a specified period, assuming dividends are reinvested to purchase additional units of stock
Steering Next 25 Years with Our Unique CRDM"O"
Expanding Competitive Advantage Through Our Unique CRDMO Business Model
01
02 Delivering In-depth Industry Insights to Secure High-Value Opportunities
03 Maintaining Organizational Agility and Elevating Operational Efficiency
04 Sustaining Resilient Profitability and Operating Cash Flow
05
Enabling Value Creation and Consistent Shareholder Returns
12
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