WuXi AppTec (Stock Exchange: Hong Kong, 02359) reported robust first-half 2026 results, highlighted by double-digit growth across key metrics and an upgraded full-year outlook.

Revenue for the six months to 30 June 2026 reached RMB 28.90 billion, a 38.9% increase year on year, with continuing-operations sales up 48.0%. Gross profit expanded 68.8% to RMB 15.38 billion, lifting the gross margin to 53.2% from 43.8% a year earlier.

Net profit attributable to shareholders rose 33.7% to RMB 11.08 billion, equivalent to basic earnings per share of RMB 3.80 (H1 2025: RMB 2.92). On a non-IFRS basis, adjusted net profit jumped 83.2% to RMB 11.57 billion, pushing the adjusted margin to 40.0%.

Segment performance remained broad-based: • WuXi Chemistry revenue climbed 53.3% to RMB 24.99 billion amid late-stage pipeline momentum and capacity ramp-up. • WuXi Testing delivered 31.5% growth to RMB 2.48 billion, underpinned by a 42.8% rise in drug-safety evaluation services. • WuXi Biology added 11.2% to RMB 1.39 billion, with new-modality work contributing more than 35% of segment turnover.

Group backlog for continuing operations stood at RMB 66.43 billion, up 25.2% year on year.

Operating cash flow advanced 31.8% to RMB 9.31 billion. Total assets reached RMB 116.26 billion, with cash and equivalents of RMB 26.95 billion. The gearing ratio increased to 27.8% following the May 2026 issuance of RMB 6.78 billion (US$1.02 billion net) zero-coupon convertible bonds due 2027.

WuXi AppTec raised 2026 guidance, now targeting total revenue of RMB 58.5–60.5 billion and 35–39% growth from continuing operations (previous range: 18–22%). Capital expenditure guidance was lifted to RMB 7.5–8.5 billion, and adjusted free cash-flow expectations to RMB 13.5–14.5 billion.

The Board declared an interim dividend of RMB 0.51 per share (RMB 5.10 per 10 shares), totalling approximately RMB 1.51 billion, payable no later than 4 September 2026. Treasury stock, comprising 9.70 million A shares and 20.15 million H shares repurchased during the period, will not participate in the distribution.

Additional corporate actions included: • Repurchase of 9.70 million A shares for RMB 1.00 billion in June 2026 for employee stock ownership plans. • Acquisition of 20.15 million H shares for HK$2.50 billion as part of the 2026 H Share Award and Trust Scheme. • Implementation of multiple share-based incentive schemes, with RMB 341.58 million expensed in H1 2026.

Management emphasized continued global capacity expansion—launching the new Changzhou site ahead of schedule—and reaffirmed confidence in sustaining margins despite foreign-exchange headwinds and higher investment outlays.