WuXi AppTec (603259) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue from continuing operations rose 39.4% year-over-year, with adjusted non-IFRS net profit up 71.7% year-over-year, reflecting robust business momentum and CRDMO expansion.

• Maintained global leadership in integrated drug R&D and manufacturing services, with significant contributions from chemical, testing, and biology segments.

Financial highlights

• Q1 2026 revenue from continuing operations reached RMB 12.44 billion, up from RMB 8.92 billion in Q1 2025.

• Adjusted non-IFRS net profit was RMB 4.60 billion, up from RMB 2.68 billion in Q1 2025.

• Adjusted non-IFRS gross profit margin improved to 50.4% from 41.9% year-over-year.

• Adjusted operating cash flow grew 21.7% year-over-year to RMB 3.69 billion.

• Basic EPS was RMB 1.59, up 23.3% year-over-year.

Outlook and guidance

• Full-year 2026 revenue is targeted at RMB 51.3–53.0 billion, with continuing operations revenue expected to grow 18–22% year-over-year.

• Capex for 2026 is projected at RMB 6.5–7.5 billion, and adjusted free cash flow is expected to reach RMB 10.5–11.5 billion.

• TIDES business expected to achieve approximately 40% revenue growth for the full year.

• Continued focus on expanding CRDMO pipeline and advancing capacity to meet rising global demand.

• The company reaffirms its guidance and may raise it if market conditions warrant.