--- title: "WuXi AppTec Q1 Revenue Up 29% YoY, Net Profit Attributable to Shareholders Up 27%, Chemical Business Drives Significant Leap in Headline Earnings | Financial News" type: "News" locale: "en" url: "https://longbridge.com/en/news/284219870.md" description: "WuXi AppTec's Q1 revenue increased 28.8% year-on-year to RMB 12.44 billion, with core net profit excluding non-recurring items surging 83.6%. The core driver was the chemical business, where small molecule D&M business growth exceeded 80%, and the TIDES business prompted the company to accelerate the start of construction for its new Changzhou base. Leveraging its CRDMO integrated model, the company's gross margin jumped significantly to 50.4%, with orders on hand nearing RMB 60 billion" datetime: "2026-04-27T12:52:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284219870.md) - [en](https://longbridge.com/en/news/284219870.md) - [zh-HK](https://longbridge.com/zh-HK/news/284219870.md) --- # WuXi AppTec Q1 Revenue Up 29% YoY, Net Profit Attributable to Shareholders Up 27%, Chemical Business Drives Significant Leap in Headline Earnings | Financial News WuXi AppTec achieved comprehensive acceleration in its first-quarter 2026 performance, with revenue from continuing operations growing by nearly 40% year-on-year. Core profitability improved substantially, as the scale effects of its CRDMO integrated business model are rapidly translating into profit growth. **The company reported operating revenue of RMB 12.44 billion in the first quarter, a year-on-year increase of 28.8%; net profit attributable to shareholders of the listed company amounted to RMB 4.65 billion, up 26.7% year-on-year. Core net profit after excluding non-recurring gains and losses surged 83.6% year-on-year.** Adjusted non-IFRS net profit (further deducting gains and losses from equity capital investments) was approximately RMB 4.60 billion, representing a 71.7% year-on-year increase, reflecting a substantial improvement in the quality of earnings from main operations. As of the end of March 2026, orders on hand for continuing operations totaled RMB 59.77 billion, a 23.6% year-on-year increase, providing strong visibility for full-year performance. The adjusted non-IFRS gross margin jumped to 50.4% from 41.9% in the same period last year, indicating a comprehensive improvement in earnings quality. **The chemical business was the core driver this quarter, with revenue increasing 43.7% year-on-year,** wherein the small molecule D&M business served as the growth engine with an 80.1% growth rate. The company also announced plans to accelerate the start of construction for its new Changzhou base to meet growing customer demand. ## Chemical Business Leads Strongly, Small Molecule D&M Growth Exceeds 80% The chemical business generated revenue of RMB 10.62 billion in the first quarter, a 43.7% year-on-year increase, accounting for the vast majority of the company's total revenue. Small molecule process development and manufacturing (D&M) was the most prominent growth highlight this quarter. Benefiting from the advancement of late-stage pipelines, forward-looking capacity layout, and efficient execution, this business segment recorded revenue of RMB 6.93 billion in the first quarter, a year-on-year increase of 80.1%. As of the end of March 2026, the total number of molecules in the small molecule D&M pipeline expanded to 3,550, including 89 commercial projects, 94 Phase III clinical projects, 386 Phase II clinical projects, and 2,981 preclinical and Phase I clinical projects. The combined net increase in commercial and Phase III clinical stage projects in the first quarter was 9, indicating the continuous strengthening of high-value late-stage projects. The upstream R&D side (R business) continues to feed incremental volume downstream. Over the past 12 months, the company successfully synthesized and delivered over 420,000 new compounds for customers, with 83 molecules converting from R to D in the first quarter. Adhering to the "follow the customer" and "follow the molecule" strategies, the company has established long-term cooperative relationships with global clients, laying the foundation for the sustained operation of its CRDMO business model. TIDES business (oligonucleotides and peptides) recorded revenue of RMB 2.38 billion in the first quarter, a 6.1% year-on-year increase; the number of D&M service customers rose 28% year-on-year, and the number of service molecules increased by 59% year-on-year. The company expects TIDES business revenue to achieve approximately 40% growth for the full year. To match the continuously rising demand, the company announced plans to accelerate the start of construction for its new Changzhou base. ## Testing and Biology Businesses Grow Steadily, New Molecule Business Contributes Over 30% Testing business revenue in the first quarter was RMB 1.13 billion, a 27.4% year-on-year increase. Among these, drug safety evaluation business revenue grew 34.8% year-on-year, maintaining its leading position in the Asia-Pacific industry. New molecule business accounted for over 30% of revenue in the first quarter, maintaining leadership in fields such as nucleic acids, conjugates, multispecific antibodies, and peptides. In drug metabolism and pharmacokinetics, the company is steadily advancing the construction of new capacity in Qidong and Shanghai to address the continuous growth in diverse customer demands. Biology business revenue in the first quarter was RMB 670 million, a 10.1% year-on-year increase. During the reporting period, the biology business continued to drive traffic to the company's CRDMO model, bringing in over 20% new customers. Breakthroughs in in vitro integrated screening platform technology accelerated, in vivo pharmacology capabilities continued to improve, and non-oncology businesses maintained competitive advantages. New molecule business accounted for over 30% of revenue in the first quarter, with rapid growth in new customers in areas such as nucleic acids, antibody-drug conjugates, and peptides. ## Gross Margin Jumps Significantly, Cash Flow Remains Robust In terms of profitability, the company's total profit increased 31.0% year-on-year to RMB 5.61 billion. Adjusted non-IFRS gross profit rose to RMB 6.27 billion, with the gross margin improving synchronously to 50.4%, an increase of approximately 8.5 percentage points from 41.9% in the same period last year. By business segment, the chemical business gross margin increased from 47.5% to 52.8%, the testing business gross margin improved significantly from 24.8% to 35.5%, and the biology business gross margin saw a slight increase to 36.7%. Regarding cash flow, net cash flow from operating activities was RMB 3.60 billion, a 12.5% year-on-year increase. Adjusted free cash flow (excluding the impact of income tax expenses related to significant equity and business divestiture transactions) was RMB 2.49 billion, an 8.6% year-on-year increase. As of the end of March 2026, the company's total assets reached RMB 107.41 billion, a 4.2% increase from the end of the previous year; net assets attributable to shareholders of the listed company were RMB 84.22 billion, a 5.7% increase from the end of the previous year. Basic earnings per share were RMB 1.59, a 23.3% year-on-year increase. This quarterly report is unaudited and was released by the company's Chairman, Ge Li, on April 27, 2026. ### Related Stocks - [02359.HK](https://longbridge.com/en/quote/02359.HK.md) - [603259.CN](https://longbridge.com/en/quote/603259.CN.md) - [02269.HK](https://longbridge.com/en/quote/02269.HK.md) - [159506.CN](https://longbridge.com/en/quote/159506.CN.md) - [159316.CN](https://longbridge.com/en/quote/159316.CN.md) - [512290.CN](https://longbridge.com/en/quote/512290.CN.md) - [159859.CN](https://longbridge.com/en/quote/159859.CN.md) - [520690.CN](https://longbridge.com/en/quote/520690.CN.md) - [159570.CN](https://longbridge.com/en/quote/159570.CN.md) - [520880.CN](https://longbridge.com/en/quote/520880.CN.md) - [520500.CN](https://longbridge.com/en/quote/520500.CN.md) - [FBT.US](https://longbridge.com/en/quote/FBT.US.md) - [560600.CN](https://longbridge.com/en/quote/560600.CN.md) - [159849.CN](https://longbridge.com/en/quote/159849.CN.md) - [510660.CN](https://longbridge.com/en/quote/510660.CN.md) - [588250.CN](https://longbridge.com/en/quote/588250.CN.md) - [588130.CN](https://longbridge.com/en/quote/588130.CN.md) - [513060.CN](https://longbridge.com/en/quote/513060.CN.md) - [513700.CN](https://longbridge.com/en/quote/513700.CN.md) - [516500.CN](https://longbridge.com/en/quote/516500.CN.md) - [512010.CN](https://longbridge.com/en/quote/512010.CN.md) - [159615.CN](https://longbridge.com/en/quote/159615.CN.md) - [588860.CN](https://longbridge.com/en/quote/588860.CN.md) - [159837.CN](https://longbridge.com/en/quote/159837.CN.md) - [159992.CN](https://longbridge.com/en/quote/159992.CN.md) - [516820.CN](https://longbridge.com/en/quote/516820.CN.md) - [516930.CN](https://longbridge.com/en/quote/516930.CN.md) - [159102.CN](https://longbridge.com/en/quote/159102.CN.md) - [159892.CN](https://longbridge.com/en/quote/159892.CN.md) - [513120.CN](https://longbridge.com/en/quote/513120.CN.md) ## Related News & Research - [05:03 ETWuXi AppTec Delivers Strong Revenue and Profit Growth in Q1 2026](https://longbridge.com/en/news/284182212.md) - [CSPC Innovation Posts Strong Revenue Growth but Wider Losses in Q1 2026](https://longbridge.com/en/news/284213122.md) - [Everest Medicines Announces Positive First-in-Human Data for Personalized mRNA Cancer Vaccine EVM16 at AACR 2026](https://longbridge.com/en/news/283616571.md) - [TransThera Raises HK$282 Million via H-Share Placing to Fund Cancer Drug Push](https://longbridge.com/en/news/283489861.md) - [WuXi AppTec posts record first-quarter revenue on strong global demand](https://longbridge.com/en/news/284225113.md)