WuXi AppTec H1 2026 net profit up 29% to RMB11.08 billion, backlog RMB66.4 billion, lifts full-year guidance

WuXi AppTec released its 2026 half-year report on the evening of August 3. During the reporting period, the company achieved revenue of RMB28.897 billion, up 38.93% year-on-year; net profit attributable to shareholders of the listed company was RMB11.08 billion, up 29.43% (rounded to 29%); net profit attributable to shareholders after deducting non-recurring items was RMB10.572 billion, up 89.39%; and adjusted non-IFRS net profit attributable to shareholders was RMB11.57 billion, up 83.2%. The overall gross margin for the first half was 53.91%, an increase of about 6.3 percentage points from the full-year 2025 level of 47.64%. The company plans to distribute a cash dividend of RMB5.10 per 10 shares (tax included), totaling approximately RMB1.506 billion.

By business segment, the chemistry division recorded revenue of RMB24.986 billion in the first half, up 53.28% year-on-year, and its share of total revenue rose to 86.5%. Within this, revenue from small-molecule process development and manufacturing (D&M) grew 72.7% year-on-year, with 699 new pipeline molecules added and 15 new commercial and Phase III projects. The TIDES business (oligonucleotides and peptides) generated revenue of RMB7.26 billion, up 44.3% year-on-year, with customer numbers up 39% and molecules served up 68%. The testing division posted revenue of RMB2.481 billion, up 31.5%, with drug safety evaluation revenue up 42.8%. The biology division recorded revenue of RMB1.392 billion, up 11.2%. As of end-June 2026, the company's backlog for continuing operations reached RMB66.43 billion, up 25.2% year-on-year.

Based on the first-half performance, WuXi AppTec raised its full-year 2026 guidance across the board. Capital expenditure guidance was raised from RMB6.5 billion–7.5 billion to RMB7.5 billion–8.5 billion, to further accelerate global capacity expansion, including the early start of construction of a new Changzhou site. Adjusted free cash flow guidance was raised from RMB10.5 billion–11.5 billion to RMB13.5 billion–14.5 billion.

For the second quarter alone, the company reported total operating revenue of RMB16.462 billion, up 47.71% year-on-year and 32.37% quarter-on-quarter; net profit attributable to shareholders of the listed company was RMB6.429 billion, up 31.49% year-on-year and 38.21% quarter-on-quarter; net profit attributable to shareholders after deducting non-recurring items was RMB6.297 billion, up 93.57% year-on-year and 47.27% quarter-on-quarter.

Regarding the designation on June 8, 2026, by the U. S. Department of Defense as a 'Chinese military company' under Section 1260H, WuXi AppTec filed a lawsuit on June 11, 2026, in the U. District Court for the District of Columbia, and on June 29 submitted a motion for a preliminary injunction, requesting the court to prohibit the Department of Defense from enforcing the designation during the litigation. The court held a hearing on the motion on July 22, 2026, and as of 4:00 p. m. Beijing time on August 3, 2026, no ruling had been issued.