1
March 24, 2026
01
Results Overview
02
Segment Performance
03
Financial Performance
04
Company Outlook
3 Note: Unless otherwise stated, all financials disclosed in this presentation are prepared based on IFRS. The currency is RMB. All net profit disclosed in this presentation represents net profit attributable to the owners of the Company.
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2025 Revenue & Profit Both Reached Record Highs, Revenue from Continuing Operations Up 21.4% YoY, and Adjusted Non-IFRS Net Profit Up 41.3% YoYRMB billion
Revenue
Adjusted Non-IFRS Net Profit
RMB billion
Adjusted Non-IFRS NPMDiscontinued Operations Continuing Operations
43.42
35.77
39.24
+15.8%
+21.4%1
Revenue from Continuing Operations
45.46
+41.3%
27.0%
32.9%
14.96
+5.9pts
10.58
2024 2025 2024 2025
5 Note: 1. YoY revenue growth of Continuing Operations.
With Continuous Capacity Expansion to Better Meet Customer Demand, Backlog for Continuing Operations1Up 28.8% YoY as of December 31, 2025Backlog for Continuing Operations1
RMB billion
+28.8%
56.26
58.00
53.04
48.36
45.04
37.44
38.59
31.42
Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
6 Note: 1. As disclosed in the 2025 Annual Report, Continuing Operations include WuXi Chemistry, WuXi Testing (not including clinical research service business), WuXi Biology and Others; historical data has been adjusted accordingly.
Diversified Revenue Streams of Continuing Operations from Customers Across Regions Underpin the Stability and Resilience of the Company's Business PerformanceRMB billion
US 31.25Bn, +34.3%
Revenue contribution: 72%
Europe
4.82Bn, -4.0%
Revenue contribution: 11%
China
5.47Bn, -3.5%
Revenue contribution: 13%
Japan, Korea & Others
1.88Bn, +4.1%
Revenue contribution: 4%
7 Note: Revenue by region is based on the locations of customer headquarters; historical data has been adjusted accordingly if customer location changes due to M&A, etc.
Driving Sustainability, Embracing Initiatives, Sustained Recognition by Leading Global RatingsAchieved "AAA" from MSCI, "A" from CDP Climate Change & Water Security, and "Gold" from EcoVadis in 2025; Near-term
Received first MSCI "AAA" rating
in 2025; sustained leadership ratings for 5 consecutive years
Improved to the highest "A"
rating in CDP Climate Change in 2025 for the first time
"A" rating in CDP Water Security
for 2 consecutive years in 2024-2025
"Gold" rating by EcoVadis
for 2 consecutive years in 2024-2025
GHG Emissions Reduction Targets Validated by SBTi
Near-term GHG emissions reduction targets validated by SBTi in 2025
8 Notes: 1. United Nations Global Compact.
Pharmaceutical Supply Chain Initiative.
Committed UNGC1participant
for 2024-2025
Continued to serve as a PSCI2 Supplier Partner in 2024-2025
Included in S&P Global Sustainability Yearbook for 4 consecutive
years in 2023-2026
Unwavering Commitment to Safeguarding Customers' IP and Adhering to the Highest
60
Information Security Audits by Global Customers (2025)
Standards of Quality & Compliance
741
Quality Audits & Inspections1 by Global Customers, Regulatory Authorities & Third Parties (2025)
20
Main Sites2are ISO/IEC 27001 Certified
0
Critical Finding
9 Notes: 1. Including 680 audits by customers, 56 inspections by regulatory authorities, and 5 audits by independent third parties.
Including all main sites in China for Continuing Operations (not including clinical research service business).
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WuXi Chemistry: CRDMO Business Model Drives Continuous Growth; 2025 Revenue Up 25.5% YoY, with TIDES Revenue Up 96.0% YoYRMB billion
Adjusted Non-IFRS GPM
29.05
Revenue
Revenue & Gross Profit Margin
46.4%
52.3%
+25.5%
36.47
CRDMO Business Model Drives Continuous Growth
2025 WuXi Chemistry revenue up 25.5% YoY to 36.47bn
With continued optimization of production processes and improvements in capacity efficiency driven by the growth of late-stage clinical and commercial projects, WuXi Chemistry 2025 adjusted non-IFRS GPM steadily improved 5.9pts YoY to 52.3%
Small Molecule Drug Discovery (R) Continues to Generate Downstream Opportunities
Successfully synthesized and delivered 420,000+ new compounds in 2025
In 2025, 310 molecules converted from R to D
Small Molecule Development & Manufacturing (D&M) Remains
Strong
Small molecule CDMO pipeline continued to expand; 2025 small molecule D&M revenue up 11.4% YoY to 19.92bn
Continued to build small molecule capacity. In 2025, Changzhou, Taixing and Jinshan API sites successfully passed FDA on-site inspections with no single observation. Total reactor volume of small molecule APIs reached >4,000kL by year-end
New Modalities (TIDES) Sustains Rapid Growth
With the sequential ramp-up of new capacity released in 2024, 2025 TIDES revenue grew
2024
2025
96.0% YoY to 11.37bn. By end of December 2025, TIDES backlog up 20.2% YoY
TIDES D&M customers grew 25% YoY, and molecules grew 45% YoY
In September 2025, completed Taixing peptide capacity construction ahead of schedule. Total reactor volume of Solid Phase Peptide Synthesizers has reached >100,000L
11
WuXi Chemistry: "Follow the Molecule + Win the Molecule", Small Molecule CRDMO Pipeline Efficiently Converts and Captures High-Quality Molecules, Delivering Sustained Growth"R" 420,000+ Compounds
2025 Newly Added Molecules to D&M Pipeline in Total 839
2,901 Preclinical & Phase I
Including 310 Molecules
Converted from R to D
377 Phase II
91 Phase III
83
Commercial
12
+22Commercial & Phase III Projects (2025)
TIDES: Continued Rapid Business Growth Driven by Enhanced Capabilities and CapacityTIDES Revenue Solid Phase Peptide Synthesizer
Total Reactor Volume
RMB billion Liter
>100,000
41,000
32,000
500
2,000
4,000
6,000
+96%
11.37
5.80
3.41
2.04
0.30
0.79
2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025
13
WuXi Testing1: Strengthening Differentiated Capabilities and Operational Management; 2025 Revenue
Back to Positive YoY Growth of 4.7%, Drug Safety Evaluation Services Maintained Leading Position
Revenue & Gross Profit Margin1
RMB billion
36.2%
30.5%
Adjusted Non-IFRS GPM
2025 WuXi Testing1 revenue resumed positive growth, up 4.7% YoY to 4.04bn.
Of which, revenue of drug safety evaluation services up 4.6% YoY, maintaining leading position in APAC
1
Due to market impact, 2025 WuXi Testing adjusted non-IFRS GPM declined
Revenue
3.86
2024
+4.7%
4.04
2025
YoY as pricing gradually reflected in revenue through backlog conversion, yet continued to improve sequentially each quarter driven by differentiated capabilities and enhanced operational management
Actively enabling customers in global licensing deals. New modality business continued strong momentum, with revenue contribution increasing to 30%+ in 2025, while maintaining leading position in nucleic acids, conjugates, multispecific antibodies and peptides, etc.
Continued to advance automation. DMPK successfully launched its proprietary all-in-one compound identification software, enhancing efficiency in spectral interpretation and metabolite identification for nucleic acids and peptides by 83%
Facilities in Suzhou and Shanghai successfully passed multiple inspections by FDA, OECD, NMPA and PMDA
14 Note: 1. As disclosed in the 2025 Annual Report, WuXi Testing refers to Continuing Operations only (not including clinical research service businesses); historical data has been adjusted accordingly.
WuXi Biology: Continues to Follow the Science & Generate Downstream Opportunities; 2025 Revenue
Back to Positive YoY growth of 5.2%, In Vivo & In Vitro Synergies and New Modalities Drove Growth
RMB billion
Adjusted Non-IFRS GPM
Revenue
Revenue & Gross Profit Margin
38.8%
36.9%
+5.2%
2.54 2.68
WuXi Biology follows the science and strategically builds differentiated capabilities of drug discovery in emerging areas; actively expands global business and efficiently generates downstream opportunities for CRDMO model by continuously contributing 20%+ of the Company's new customers
Efficiently enabling global customers through integrated in vitro & in vivo drug discovery capabilities, cross-regional collaboration and end-to-end solutions in emerging areas. 2025 WuXi Biology revenue resumed positive growth, up 5.2% YoY to 2.68bn
Due to market pricing impact, 2025 WuXi Biology adjusted non-IFRS GPM down 1.9pts YoY to 36.9%. WuXi Biology closely follows market dynamics and maintains flexible pricing strategy, maximizing its value in generating downstream opportunities
Rapid revenue growth driven by accelerated progress in integrated in vitro screening and enhanced in vivo pharmacology capabilities. Non-oncology business maintained competitive edge, serving as a key growth contributor
New modality business continues to drive growth, with revenue
2024
2025
contribution increasing to 30%+ in 2025, supported by rapid new customer expansion in nucleic acids, antibody conjugates and peptides, etc.
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Continuously Drive Quality Growth, Strengthen Technological Expertise and Operational Efficiency, Leverage Management Resilience, Further Enhancing ProfitabilityAdjusted Non-IFRS Gross Profit
RMB billion
Adjusted Non-IFRS GPM*
Adjusted Non-IFRS Net Profit
RMB billion
Adjusted Non-IFRS NPM
40.3%
38.0%
38.7%
42.0%
41.6%
48.2%
22.0%
22.4%
23.9%
26.9%
27.0%
32.9%
6.67 8.70
CAGR +26.8%
15.23 16.94 16.33
+34.1%
+41.3%
CAGR +32.7%
14.96
9.40
10.85
10.58
3.64
5.13
21.89
2020 2021 2022 2023 2024
2025
2020 2021 2022 2023 2024
2025
* GPM @ CER1: 2024 42.4%，2025 48.5%
Net Profit After Deducting Non-Recurring Items (per CAS2)
RMB billion
Net Profit (per CAS2)
RMB billion
CAGR +40.4%
+32.6%
13.24
8.34
9.75
9.99
2.43
4.12
CAGR +45.3%
+102.6%
19.15
8.81
9.61
9.45
2.96
5.10
2020 2021 2022 2023 2024 2025
Note: 1. CER, constant exchange rate. 2. CAS, China Accounting Standards for Business Enterprises.
2020 2021 2022 2023 2024 2025
With Sustained Business Growth, Enhanced Operational Efficiency and Financial Management, 2025 Adjusted Operating Cash Flow1Reached Record High of 16.67 Billion, Up 39.1% YoYRMB billion
Adjusted Operating Cash Flow1
Capex2
12.64
11.99
9.97
10.23
6.94
5.52
5.54
3.83
4.38
4.00
3.03
16.67
2020 2021 2022 2023 2024 2025
Note: 1. Adjusted operating cash flow excludes income tax payments related to significant transactions (i.e. partial equity sales of WuXi XDC) disclosed in the Company's announcements.
2. Capex includes purchase of property, plant and equipment, other intangible assets and other long-term expenses.
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Company OutlookFocus on the CRDMO business model, striving for highly efficient & exceptional services and operational excellence ("O")
Continue to focus on our unique integrated CRDMO core business, and accelerate global expansion, capacity construction and capability development
Leveraging customers' ongoing demand for enabling services, provide highly efficient and exceptional services, benefiting patients worldwide, and driving long-term growth
Driving optimized management and operations, continuously improving production & operational efficiency, strengthening organizational resilience to navigate dynamic market conditions
Confident in customers' ongoing demand, our CRDMO business model and management execution,
sustaining rapid business growth
Targeting 2026 total revenue to reach RMB 51.3-53.0 billion, with Continuing Operations revenue growing 18-22% YoY
Driving quality growth, realizing scale efficiency and enhancing operational excellence, proactively managing new capacity
ramp-up and FX challenges; confident in maintaining stable & resilient adjusted non-IFRS NPM in 2026
Accelerating global capacity expansion, 2026 capex is expected to reach RMB 6.5-7.5 billion. Along with business growth and efficiency improvements, 2026 adjusted free cash flow1 is expected to reach RMB 10.5-11.5 billion
Note: 1. Adjusted free cash flow excludes income tax payments related to significant transactions (i.e., partial equity sales of WuXi XDC and the sale of the China-based clinical research
service businesses) disclosed in the Company's announcements.
Company OutlookRemain committed to rewarding shareholders and upholding the Company's value
While accelerating global capacity and capability enhancement, the Company's Board of Directors proposes (subject to approval by the Annual General Meeting) the 2026 total cash dividend distribution plan and expects it to reach a record high, including:
maintain 30% annual cash dividend payout ratio, expecting to distribute 2025 annual dividend of RMB 4.71 billion1
maintain the current interim dividend strategy2in 2026
Retain top talents and enhance the resilience of business operations and management
The Company plans to launch (subject to approval by the Annual General Meeting) the 2026 H-share Incentive Trust Plan, to continuously attract and retain top talents, strengthen the collective capabilities of management team, and enhance the resilience of the Company's business operations and management
Upon achieving RMB 51.3 billion revenue in 2026, no more than HKD 1.5 billion H-shares will be granted; and an additional HKD 1.0 billion H-shares will be granted upon reaching RMB 53.0 billion and above
Underlying H-shares will be purchased via open market at prevailing market prices, with no dilution to existing shareholders
Note: 1. The expected distribution of 2025 annual dividend excludes the RMB 1.03 billion 2025 interim dividend already distributed.
2. Referencing the scale of 2025 interim dividend.
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