WuXi AppTec : POSITIVE PROFIT ALERT

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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)

POSITIVE PROFIT ALERT

This announcement is published by the Company simultaneously on the Shanghai Stock Exchange pursuant to the Rules Governing the Listing of Stocks on Shanghai Stock Exchange and on The Stock Exchange of Hong Kong Limited pursuant to the disclosure obligations under Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The Board hereby announces that the Company is expecting to record an increase in the revenue and net profit attributable to shareholders of the Company for the year ended December 31, 2021 in comparison with the corresponding period in the year of 2020.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

This announcement is published by WuXi AppTec Co., Ltd.* (無錫藥明康德新藥開發股 份有限公司) (the "Company") simultaneously on the Shanghai Stock Exchange pursuant to the Rules Governing the Listing of Stocks on Shanghai Stock Exchange and on The Stock Exchange of Hong Kong Limited pursuant to the disclosure obligations under Rule 13.09(2)

1. of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The board of directors of the Company (the "Board") hereby announces that the Company (together with its subsidiaries, the "Group") is expecting to record an increase in the revenue and net profit attributable to shareholders of the Company for the year ended December 31, 2021 in comparison with the corresponding period in the year of 2020.

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Details of and the reasons for such estimated increase are set out below.

Important Notice:

1. The revenue of the Company was estimated to be in a range between RMB22,818.8955 million and RMB22,901.5726 million for the year of 2021, representing an increase by a range between RMB6,283.4640 million and RMB6,366.1411 million, or 38.0% and 38.5% as year-over-year increase, compared with RMB16,535.4315 million for the year of 2020.
2. The net profit attributable to shareholders of the Company was estimated to be in a range between RMB4,973.1956 million and RMB5,032.4004 million for the year of 2021, representing an increase by a range between RMB2,012.9601 million and RMB2,072.1649 million, or 68.0% and 70.0% as year-over-year increase, compared with RMB2,960.2355 million for the year of 2020.
3. The net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss was estimated to be in a range between RMB4,006.9714 million and RMB4,054.6734 million for the year of 2021, representing an increase by a range between RMB1,621.8694 million and RMB1,669.5714 million, or 68.0% and 70.0% as year-over-year increase, compared with RMB2,385.1020 million for the year of 2020.

1. ESTIMATED RESULTS FOR THE CURRENT PERIOD
2. 1. Period to which the estimated results apply January 1, 2021 to December 31, 2021.
   2. Estimated Results
      1. Based on the preliminary calculation by the finance department of the Company, the revenue of the Company was estimated to be in a range between RMB22,818.8955 million and RMB22,901.5726 million for the year of 2021, representing an increase by a range between RMB6,283.4640 million and RMB6,366.1411 million, or 38.0% and 38.5% as year-over-year increase, compared with RMB16,535.4315 million for the year of 2020.

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1. 1. 1. The net profit attributable to shareholders of the Company was estimated to be in a range between RMB4,973.1956 million and RMB5,032.4004 million for the year of 2021, representing an increase by a range between RMB2,012.9601 million and RMB2,072.1649 million, or 68.0% and 70.0% as year-over-year increase, compared with RMB2,960.2355 million for the year of 2020.
      2. The net profit attributable to shareholders of the Company after deducting the non-recurring profit or loss was estimated to be in a range between RMB4,006.9714 million and RMB4,054.6734 million for the year of 2021, representing an increase by a range between RMB1,621.8694 million and RMB1,669.5714 million, or 68.0% and 70.0% as year-over-year increase, compared with RMB2,385.1020 million for the year of 2020.
   2. The estimated operating results have not been audited by a certified public accountant.
2. RESULTS OF THE CORRESPONDING PERIOD IN THE YEAR OF 2020
3. 1. Revenue of the Company: RMB16,535.4315 million. Net profit attributable to the
      shareholders of the Company: RMB2,960.2355 million. Net profit attributable to the shareholders of the Company after deducting the non-recurring profit or loss: RMB2,385.1020 million.
   2. Earnings per share (basic): RMB1.27. (The Company implemented the 2020 profit distribution and capitalization of reserve in 2021, with 2 new shares being issued for every 10 existing shares. According to the total issued share capital of the Company after the conversion, the basic earnings per share of 2020 was adjusted to RMB1.06).

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1. MAIN REASONS FOR THE ESTIMATED GROWTH IN RESULTS FOR THE CURRENT PERIOD
2. 1. Impact of the principal business
      The Company consistently implements the strategy of "follow the molecules". The 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 laboratory analysis and testing, and clinical CRO/SMO services under WuXi Testing, biology business under WuXi Biology, and small molecule drug discovery services under WuXi Chemistry maintained their strong growth. During the year of 2021, the Company also continuously improved the production utilization and further revealed the scale effect by optimizing operational efficiency.
   2. Impact of non-recurring profit or loss
      In the year of 2021, the net non-recurring profit increased as compared with that in the year of 2020, which was mainly attributable to the following reasons: (1) due to market share price fluctuation of the listed companies invested by the Company, the gain from fair value change and investment income of certain non-current financial assets of the Company decreased as compared with those in the year of 2020. This was estimated to result in approximately RMB1,662.9311 million in profit for the year of 2021, while the impact of 2020 was a net profit of RMB1,793.7549 million, representing a year-over-year decrease of approximately RMB130.8238 million in profit; (2) on the other hand, 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 was estimated to be approximately RMB1,000.5987 million for the year of 2021, while the impact of 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 the year of 2021, the Company completed the
      transfer of 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.

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IV. RISK WARNING

There are no significant uncertainties pertaining to the Company identified as at the date of this announcement which may affect the accuracy of the estimated results.

1. OTHER INFORMATION
   The Board would like to remind the investors that the above estimated results of the Company for the year of 2021 were prepared based on preliminary accounting information only. Please refer to the announcement of the audited 2021 annual results of the Company to be published subsequently for the finalized financial figures. Investors are advised to pay attention to any associated investment risks.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

WuXi AppTec Co., Ltd.

Dr. Ge Li

Chairman

Hong Kong, January 18, 2022

As at the date of this announcement, the Board of the Company comprises Dr. Ge Li, Mr. Edward Hu, Dr. Steve Qing Yang, Mr. Zhaohui Zhang and Dr. Ning Zhao as executive Directors, Mr. Xiaomeng Tong and Dr. Yibing Wu as non-executive Directors and Dr. Jiangnan Cai, Ms. Yan Liu, Mr. Dai Feng, Dr. Hetong Lou and Mr. Xiaotong Zhang as independent non-executive Directors.

*For identification purpose only

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