WuXi AppTec : ANNOUNCEMENT ON PRELIMINARY FINANCIAL DATA FOR THE YEAR ENDED DECEMBER 31, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

WUXI APPTEC CO., LTD.*

無錫藥明康德新藥開發股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2359)

ANNOUNCEMENT ON PRELIMINARY FINANCIAL DATA

FOR THE YEAR ENDED DECEMBER 31, 2021

This announcement is made by WuXi AppTec Co., Ltd.* (無錫藥明康德新藥開發股份 有限公司) (the "Company", and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company is pleased to announce the key financial results for the year ended December 31, 2021 (the "Reporting Period") with comparison against those for the year ended December 31, 2020 (the "Corresponding Period"). The financial results set out in this announcement are preliminary and prepared under the China Accounting Standards for Business Enterprises (or International Financial Reporting Standards ("IFRS") if stated specifically), which have not been audited or reviewed by an accounting firm. The specific financial data and operating results of the Group for the Reporting Period to be disclosed in the annual results announcement of the Group for the Reporting Period (the "2021 Annual Results Announcement") and the annual report of the Group for the Reporting Period (the "2021 Annual Report") should prevail.

Investors should pay attention to the investment risks involved.

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1. MAJOR CONSOLIDATED FINANCIAL DATA AND INDICATORS FOR THE REPORTING PERIOD

		Unit: RMB In Thousand
	The year	The year
	ended	ended
	December 31,	December 31,
Item	2021	2020	Increase
			(%)
Total operating revenue	22,902,385.1	16,535,431.5	38.50
Operating profit	6,037,725.0	3,389,485.0	78.13
Total profit	6,015,608.9	3,369,375.7	78.54
Net profit attributable to the owners
of the Company	5,097,155.3	2,960,235.5	72.19
Net profit attributable to the owners
of the Company after deducting
non-recurring profit and loss	4,063,633.2	2,385,102.0	70.38
Adjusted non-IFRS net profit
attributable to the owners of the
Company	5,131,308.6	3,637,276.7	41.08
Basic earnings per share (RMB)	1.75	1.06	65.09
Weighted average return on net assets	14.05	12.91	Increase
(%)			by 1.14
			percentage
			points
	As at the	As at the
	end of the	beginning of
	Reporting	the Reporting
	Period	Period	Increase
			(%)
Total assets	55,127,388.4	46,291,165.7	19.09
Equity attributable to the owners of
the Company	38,491,509.6	32,493,743.1	18.46
Share capital	2,955,826.9	2,441,684.8	21.06
Net assets per share attributable to the
owners of the Company (RMB)	13.21	11.63	13.59

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Notes:

1. 1. The figures of the Reporting Period were extrapolated from the unaudited consolidated results of the Group.
   2. When calculating the basic earnings per share and net assets per share attributable to the owners of the Company, the share capital as at December 31, 2020 has been adjusted to reflect the 2020 profit distribution plan and capitalization of reserve which has been implemented in 2021, where 2 capitalization shares of the Company were issued for every existing 10 shares of the Company.
   3. The Company has adjusted the scope of the foreign exchange related gains or losses in the calculation of non-IFRS measures, by adjusting only the gains or losses that the management believes are irrelevant to the core business. The comparative financial figures for the comparable periods has been adjusted to reflect the change of scope.
2. EXPLANATORY STATEMENT ON OPERATING RESULTS AND FINANCIAL CONDITIONS
   The Company has maintained strong growth in 2021 and is expected to record significant year-over-year ("YoY") increase in total operating revenue, operating profit, total profit, net profit attributable to the owners of the Company, net profit attributable to the owners of the Company after deducting non-recurring profit and loss, adjusted non-IFRS net profit attributable to the owners of the Company and expected basic earnings per share as compared with 2020. The primary reasons are as follows:
3. 1. Impact of the principal business

The Company continuously executes the strategy of "follow the molecule". The post-consolidation WuXi Chemistry business segment continues to build the integrated and end-to-end contract research, development and manufacturing organization (CRDMO) business. As such, it recorded robust order demand, which accelerated the increase in revenue of the Company in 2021. The Company expects the revenue growth rate realized from WuXi Chemistry in 2022 will nearly double compared with that in 2021. The laboratory analysis and testing business and clinical contract research organization (clinical CRO)/site management organization (SMO) business under WuXi Testing, as well as WuXi Biology, also realized robust growth in 2021. The Company anticipates that the growth in revenue of such businesses in 2022 will be consistent with their growth trajectory of the past few years. 2022 will mark a key turning point in WuXi ATU, our cell and gene therapy contract testing, development, manufacturing organization (CTDMO) business, and the Company anticipates that WuXi ATU's revenue growth will exceed the growth rate of its industry sector. WuXi DDSU's business will evolve in 2022 in order to meet domestic customers' increasingly high expectations for projects to be delivered; as a result, the Company expects

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that WuXi DDSU's revenue will be down to a certain extent in 2022 relative to that of 2021. In 2021, the Company improved production utilization and further capitalized on economies of scale thereby continuously optimizing operational efficiency.

1. WuXi Chemistry, our chemistry business, realized revenue of approximately RMB14,087.2202 million in 2021, representing a YoY growth of 46.93% as compared with the revenue of RMB9,587.6661 million for the corresponding period in 2020, among which the revenue from small molecule drug discovery (R) services recorded a YoY growth of approximately 43.24%, and the revenue from development and manufacturing (D&M) services recorded a YoY growth of approximately 49.94%.
2. WuXi Testing, our testing business, realized revenue of approximately RMB4,525.1113 million in 2021, representing a YoY growth of approximately 38.03% from RMB3,278.4386 million for the corresponding period in 2020, among which the revenue from laboratory analysis and testing services recorded a YoY growth of approximately 38.93%, and with medical devices testing excluded, a significant YoY growth of approximately 52.12%. Revenue from clinical CRO and SMO recorded a YoY growth of approximately 36.20%.
3. WuXi Biology, our biology business, realized revenue of approximately RMB1,985.0925 million in 2021, representing a YoY growth of approximately 30.05% from RMB1,526.4103 million for the corresponding period in 2020.
4. WuXi ATU, our cell and gene therapy contract testing, development, manufacturing organization (CTDMO) business, realized revenue of approximately RMB1,026.4012 million in 2021, representing a YoY decrease of approximately 2.79% from the revenue of RMB1,055.8211 million for the corresponding period in 2020. Our cell and gene therapy CTDMO business grew rapidly in China and recorded YoY growth in revenue of approximately 87%, partially offsetting the negative impact of the decline of business in the U.S. due to delay in the submission of new drug applications by certain customers.
5. WuXi DDSU, our domestic new drug discovery service unit, realized revenue of approximately RMB1,251.0399 million in 2021, representing a YoY growth of approximately 17.47% from revenue of RMB1,064.9905 million for the corresponding period in 2020.

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1. 2. Impact of non-recurring profit or loss

   In 2021, the net non-recurring profit increased as compared with that in 2020, mainly attributable to the following reasons: (1) market share price fluctuation of certain listed companies invested by the Company, the gain from fair market value change and investment income of certain non-current financial assets of the Company decreased as compared with those in 2020. This is estimated to result in approximately RMB1,662.9311 million in profit in 2021, while the comparable impact in 2020 was a net profit of RMB1,793.7549 million, representing a year-over-year decrease of approximately RMB130.8238 million in profit; (2) concurrently, due to the change in share price of the H shares of the Company, the non-cash fair value loss on the derivative instrument portion of the H share convertible bonds of the Company decreased and is estimated to be approximately RMB1,000.5987 million in 2021, while the comparable impact in 2020 was a net loss of RMB1,349.3866 million, representing a year-over-year decrease in loss of approximately RMB348.7879 million; (3) in addition, during 2021, the Company completed the transfer of

   its small molecule payload and linker business and relevant assets to WuXi XDC (Changzhou) Co., Ltd.* (常州藥明合聯生物技術有限公司) (being the wholly-owned subsidiary set up by WuXi XDC Co., Ltd.* (無錫藥明合聯生 物技術有限公司), formerly known as WuXi Biologics Conjugation Co., Ltd.* (無錫藥明偶聯生物技術有限公司)) with a net disposal gain of approximately RMB273.7158 million. For details of the abovementioned asset transfer, please refer to the section headed "Letter from the Board - 8. Proposed Related Parties Transactions - The Asset Transfer Agreement" in the circular of the Company dated April 9, 2021.

2. RISK WARNINGS
   The key financial results of the Group for the Reporting Period as presented in this announcement are preliminary and not audited by an accounting firm. Major financial indicators, such as net profit attributable to the owners of the Company, may be different from the data to be disclosed in the 2021 Annual Results Announcement and the 2021 Annual Report. The audited financial results for the year of 2021 to be disclosed in the 2021 Annual Results Announcement and the 2021 Annual Report should prevail. Investors should pay attention to the investment risks involved.
   The forecast of the operating performance for the year 2022 mentioned in this announcement is made based on current existing orders of the Company, and is subject to various prerequisites, including continued stabilization or improvement of the COVID-19 global pandemic, the stable development of the global pharmaceutical industry and the stability of the international trade environment and regulatory environment of the countries where the main operations of the Company are located. Consequently, the realization of the forecast may be subject to the following risks:

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