Slides
Page 1
11 WuXi AppTec Third Quarterly 2026 Results October 27, 2026
Page 2
2 Forward-Looking Statements This presentation contains certain forward-looking statements, which can be recognized by the use of words such as “expects”, “targets”, “plans”, “will”, “estimates”, “forecasts”, “intends”, or words of similar meaning. Such forward-looking statements are not historical facts, but instead are predictions about future events based on our beliefs, development strategy, business plan as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward- looking statements are subject to risks and uncertainties including, but not limited to, the effective competitiveness of our services, our ability to meet timelines for the expansion of our service offerings or to reach the scale of our production capacity development plans, our ability to protect our clients’ intellectual property, industry competition and regulation, the international geopolitical environment, legislative restrictions and judicial proceedings, the impact of emergencies and other force majeure. Our forward-looking statements do not constitute any profit forecast by our management or an undertaking by WuXi AppTec Co., Ltd. (“WuXi AppTec” or the “Company”) to our investors. ACCORDINGLY, YOU ARE STRONGLY CAUTIONED THAT RELIANCE ON ANY FORWARD-LOOKING STATEMENTS INVOLVES KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. All information provided in this presentation is as of the date of this presentation and is based on assumptions that we believe to be reasonable as of this date, and we do not undertake any obligation to update any forward-looking statement or information in this presentation to reflect future events or circumstances, except as required under applicable law. Use of Adjusted Non-IFRS Financial Measures To supplement the Company’s IFRS consolidated financial statements, we provide adjusted non-IFRS gross profit and adjusted non-IFRS net profit attributable to the owners of the Company (“Adjusted Non-IFRS Net Profit”, with adjustments including share-based compensation, convertible bond issuance expenses, FX related gains or losses, amortization of acquired intangible assets from M&A, gains or losses from divestiture, restructuring and resource integration initiatives, realized and unrealized gains or losses from venture capital investments and share of gains or losses from JVs, etc.), adjusted operating cash flow and adjusted free cash flow (excluding income tax payments related to significant transactions, mainly equity or business sales, disclosed in the Company’s announcements). These measures are not required by, or presented in accordance with IFRS. We believe that the adjusted non-IFRS financial measures are useful for understanding and assessing our core business performance and operating trends, and we believe that management and investors may benefit from referring to these measures in assessing our financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and/or non-operating items that we do not consider indicative of the performance of our core business. The management of the Company believes such adjusted non-IFRS financial measures are widely accepted and adopted in the industry in which the Company operates. However, you should not view adjusted results on a stand-alone basis or as a substitute for results under IFRS, or as being comparable to results reported or forecasted by other companies. Disclaimer This presentation is for information purposes only and does not constitute a recommendation regarding any securities of the Company. This presentation does not intend to provide a complete statement relating to the Company, its securities, or any relevant matters herein that a recipient may need in order to evaluate the Company. For relevant information, please refer to the Company’s disclosure documents and information on the Shanghai Stock Exchange (“SSE”), the Stock Exchange of Hong Kong Limited (“HKEX”) and the Company’s website. Intellectual Property All intellectual property rights and other rights pertaining to the information and materials presented in the presentation are owned by WuXi AppTec. Audio recording, video recording or disclosure of such materials by any means without the prior consent of WuXi AppTec is prohibited. Continuing Operations and Discontinued Operations In accordance with IFRS, the Company has classified operations with signed equity sale agreements, completed sales, or those being discontinued during the reporting period or comparative periods as discontinued operations (“Discontinued Operations”). Comparative disclosures have been adjusted accordingly. The remaining operations of the Company will continue to be reported as continuing operations (“Continuing Operations”).
Page 3
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. 02 Segment Performance 03 Financial Performance 01 Results Overview 04 Company Outlook
Page 4
4 1. Results Overview
Page 5
5 Q1-Q3 2026 Revenue & Profit Both Delivered Strong Growth; Revenue from Continuing Operations1 Up 46.3% YoY , and Adjusted Non-IFRS Net Profit Up 74.4% YoY Notes: 1. As disclosed in the 2026 Third Quarterly Report, Continuing Operations include WuXi Chemistry, WuXi Testing, WuXi Biology a nd Others; historical data has been adjusted accordingly. 2. YoY revenue growth of Continuing Operations. Adjusted Non-IFRS Net Profit RMB billion Adjusted Non-IFRS NPM Revenue RMB billion +38.6% +46.3%2 Revenue from Continuing Operations1 +74.4% 32.1% 40.4% +8.3pts 20.80 28.90 12.06 16.6432.86 45.54 Q1-Q3 2025 Q1-Q3 2026 H1 Q3 +43.5%2 +48.0%2 6.31 11.57 4.22 6.8110.54 18.38 Q1-Q3 2025 Q1-Q3 2026 H1 Q3
Page 6
6 Continue to Focus on Our Core CRDMO Strategy, and Further Enhance Business Visibility, Backlog for Continuing Operations1 Up 36.4% YoY as of September 30, 2026 Note: 1. As disclosed in the 2026 Third Quarterly Report, Continuing Operations include WuXi Chemistry, WuXi Testing, WuXi Biology and Others; historical data has been adjusted accordingly. Backlog for Continuing Operations1 RMB billion +36.4% 48.36 53.04 56.26 58.00 59.77 66.43 76.74 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Page 7
7 2. Segment Performance
Page 8
8 CRDMO Business Model Drives Continuous Growth Driven by steady pipeline progression to late stages, and the sequential ramp-up of new capacity throughout last year, WuXi Chemistry Q1-Q3 revenue up 51.5% YoY to 39.36bn With continued optimization of production processes and improvements in capacity efficiency driven by the growth of late-stage clinical and commercial projects, WuXi Chemistry Q1-Q3 adjusted non-IFRS GPM steadily improved 5.9pts YoY to 57.1% Accelerating proactive capacity planning. We initiated the new Changzhou site ahead of schedule to better meet growing customer demand Small Molecule Drug Discovery (R) Continues to Generate Downstream Opportunities In the past 12 months, successfully synthesized and delivered 450,000+ new compounds In Q1-Q3, 314 molecules converted from R to D Small Molecule Development & Manufacturing (D&M) Maintains Strong Momentum Small molecule CDMO pipeline continued to expand As our business model continuously attracts high-quality molecules, and the pipeline steadily advances to late stages, aligned with proactive capacity planning and strong execution, small molecule D&M Q1-Q3 revenue up 65.6% YoY to 23.58bn New Modalities (TIDES) Sustains Rapid Growth TIDES Q1-Q3 revenue up 46.9% YoY to 11.52bn, with full-year revenue expected to grow ~47%1 TIDES D&M customers grew 37% YoY , and molecules grew 86% YoY WuXi Chemistry: Continuous Pipeline Expansion and Steady Late-stage Progression, While Accelerating Proactive Capacity Planning +51.5% 51.3% 57.1% Revenue & Gross Profit Margin Revenue RMB billion Adjusted Non- IFRS GPM 16.30 24.99 9.68 14.3825.98 39.36 Q1-Q3 2025 Q1-Q3 2026 Q3 H1 Note: 1. The guidance above constitutes forward-looking statements.
Page 9
9 WuXi Chemistry: “Follow the Molecule + Win the Molecule”, Small Molecule CRDMO Pipeline Efficiently Converts and Captures High-Quality Molecules, Delivering Sustained Growth 94 Phase III 402 Phase II “R” 56 Commercial 14,751 compounds450,000+ Compounds 3,264 Preclinical & Phase I 103 Commercial Q1-Q3 2026 Newly Added Molecules to D&M Pipeline in Total 1,089 Including 314 Molecules Converted from R to D +23 Commercial & Phase III Projects (Q1-Q3 2026)
Page 10
10 WuXi Testing1 Q1-Q3 revenue up 32.0% YoY to 3.91bn. Notably, revenue of drug safety evaluation services up 40.6% YoY , maintaining its industry leading position in APAC Driven by differentiated capabilities and enhanced operational management, WuXi Testing1 Q1-Q3 adjusted non-IFRS GPM steadily improved 11.7pts YoY to 40.8% Enabling customers’ global partnerships to accelerate innovation. New modality business continued strong momentum, contributing 35%+ of WuXi Testing Q1- Q3 revenue, while maintaining leading position in areas including nucleic acids, conjugates, multispecific antibodies and peptides DMPK continues to enhance its science and service capabilities, and accelerate execution of “HI2 + AI” strategy through integration and automation. With comprehensive enhancement of capacity, quality, and speed, we efficiently fulfill the rapidly growing demand from global AIDD/AI4S customers for dry & wet lab closed-loop R&D, further solidifying our industry leading position In Q1-Q3, Suzhou and Nantong facilities successfully completed their ninth and second consecutive OECD3 GLP periodic inspections, respectively. In addition, Suzhou facility successfully completed its first South Korea MFDS4 and three consecutive Japan PMDA5 project inspections WuXi Testing1: Strengthening Differentiated Capabilities and Operational Management; Drug Safety Evaluation Services Maintained Leading Position Notes: 1. As disclosed in the 2026 Third Quarterly Report, WuXi Testing refers to Continuing Operations only; historical data has been adjusted accordingly. 2. HI, Human Intelligence. 3. OECD, Organization for Economic Co-operation and Development. 4. MFDS, Ministry of Food and Drug Safety. 5. PMDA, Pharmaceuticals and Medical Devices Agency. 29.2% 40.8% +32.0% Revenue & Gross Profit Margin Revenue RMB billion Adjusted Non- IFRS GPM 1.89 2.48 1.08 1.432.96 3.91 Q1-Q3 2025 Q1-Q3 2026 Q3 H1
Page 11
11 WuXi Biology follows the science and strategically builds differentiated drug discovery capabilities in emerging areas, actively developing its global business and efficiently generating downstream opportunities for CRDMO modelby continuously contributing 20%+ of the Company’s new customers Enabling global customers through integrated in vitro & in vivo drug discovery capabilities, cross-regional collaboration and end-to-end solutions in emerging areas. WuXi Biology Q1-Q3 revenue up 12.4% YoY to 2.19bn With continuous business integration and enhanced operational efficiency, WuXi Biology Q1-Q3 adjusted non-IFRS GPM up 0.4pts YoY to 37.4%. WuXi Biology closely follows the market and maintains a dynamic pricing strategy, continuously generating downstream opportunities Continue to enhance AI and automation capabilities, enabling multiple use cases in pharmacology, pathology, and beyond. In response to the needs of AIDD/AI4S customers, we provide high-throughput, diverse, customized, comprehensive, and integrated wet lab services, fostering novel partnerships with high efficiency and synergy New modality business contributed 35%+ of WuXi Biology Q1-Q3 revenue, with rapid new customer growth in areas including nucleic acids, antibody conjugates and peptides WuXi Biology: Continues to Follow the Science & Generate Downstream Opportunities; In Vivo & In Vitro Business Synergies Drove Growth +12.4% 37.0% 37.4% Revenue & Gross Profit Margin Revenue RMB billion Adjusted Non- IFRS GPM 1.25 1.39 0.70 0.80 1.95 2.19 Q1-Q3 2025 Q1-Q3 2026 Q3 H1
Page 12
12 3. Financial Performance
Page 13
13 8.70 15.23 16.94 16.33 21.89 15.46 24.94 Continuously Drive Quality Growth, Strengthen Technological Expertise and Operational Efficiency, Leverage Management Resilience, Further Enhancing Profitability Notes: 1. CER, constant exchange rate. 2. CAS, China Accounting Standards for Business Enterprises. Net Profit After Deducting Non-Recurring Items (per CAS2) RMB billion Net Profit (per CAS2) RMB billion Adjusted Non-IFRS Net Profit RMB billion Adjusted Non-IFRS NPMAdjusted Non-IFRS GPM* * GPM @ CER1: Q1-Q3 2025 47.3%, Q1-Q3 2026 56.5% Adjusted Non-IFRS Gross Profit RMB billion 22.4% 23.9% 26.9% 27.0% 32.9%47.0%38.0% 38.7% 42.0% 41.6% 48.2% 54.8% 32.1% 40.4% 2021 2022 2023 2024 CAGR +25.9% 2025 Q1-Q3 2025 Q1-Q3 2026 +61.4% 5.13 9.40 10.85 10.58 14.96 10.54 18.38 CAGR +30.7% 2021 2022 2023 2024 2025 Q1-Q3 2025 Q1-Q3 2026 +74.4% 4.12 8.34 9.75 9.99 13.24 9.52 16.48 CAGR +33.9% +73.0% 2021 2022 2023 2024 2025 Q1-Q3 2025 Q1-Q3 2026 5.10 8.81 9.61 9.45 19.15 12.08 19.40 CAGR +39.2% +60.6% 2021 2022 2023 2024 2025 Q1-Q3 2025 Q1-Q3 2026
Page 14
14 6.94 9.97 5.52 4.00 5.54 5.084.38 10.23 12.64 11.99 16.67 17.28 2021 2022 2023 2024 2025 Q1-Q3 2026 With Sustained Business Growth, Enhanced Operational Efficiency and Financial Management, Q1-Q3 2026 Adjusted Operating Cash Flow1 Up 58.9% YoY to 17.28 Billion Notes: 1. Adjusted operating 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. 2. Capex includes purchase of property, plant and equipment , other intangible assets and other long-term expenses. RMB billion Capex2 Adjusted Operating Cash Flow1 Q1-Q3 3.57 Q1-Q3 10.87
Page 15
15 4. Company Outlook
Page 16
16 Company Outlook Notes: 1. The guidance above constitutes forward-looking statements. 2. 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. Focus on the CRDMO business model, striving for highly efficient & exceptional services and operational excellence Continue to focus on our unique integrated CRDMO core business, and accelerate global capacity construction and capability development Capture customers’ ongoing demand for enabling services, and provide highly efficient and exceptional services, benefiting patients worldwide, and driving long-term growth Further optimize management and operations, continue to enhance production & operational efficiency, and strengthen resilience to navigate complex & dynamic market conditions Full-year guidance1 further raised, driven by greater success of multiple customers’ products, our unique CRDMO model, and management & execution excellence Targeting 2026 total revenue of RMB 61.0-61.9 billion (up from 58.5-60.5 billion), with Continuing Operations revenue now expected to grow 40-42% YoY (up from 35-39%) 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 Meeting growing customer demand by accelerating global capacity development and initiating the new Changzhou site ahead of schedule, with 2026 capex forecast adjusted to RMB 8.0-8.5 billion (from 7.5-8.5 billion). Along with business growth and efficiency improvements, 2026 adjusted free cash flow2 forecast is raised to RMB 14.5-15.5 billion (up from 13.5-14.5 billion)
Page 17
17 Company Outlook Note: 1. This excludes the RMB 1.03 billion already paid as the 2025 interim dividend. Consistently rewarding shareholders and sharing our success Distributed a total of RMB 6.22 billion cash dividends in Q1-Q3, including: - RMB 4.71 billion1 for 2025 annual dividend - RMB 1.51 billion for 2026 interim dividend (representing a further increase from the first interim dividend of RMB 1.03 billion in 2025) Retain top talent and enhance the resilience of business operations and management Both the 2026 H-share Incentive Trust Plan and the 2026 A-share Employee Stock Ownership Plan have been approved by the Company’s General Meetings Completed acquisition of HKD 2.5 billion H-shares (2026 H-share Incentive Trust Plan) and RMB 1.0 billion A-shares (2026 A- share Employee Stock Ownership Plan). This aims to continuously attract and retain top talent, strengthen the collective capabilities of management team, and enhance the resilience of the Company’s business operations and management, with no dilution to existing shareholders
Page 18
18