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2023 Financial Highlights
Revenue
The Group's revenue increased to
Gross profit and gross profit margin
The Group's gross profit increased by 114% YoY to
Adjusted net profit
Adjusted net profit for the period increased by 112% YoY to
Adjusted Diluted earnings per share (EPS)
Adjusted diluted EPS was
2023 Business Highlights
Our rapidly expanding and high-quality customer base has reached a cumulative total of 345, including global pharma and innovative biotech companies. Collectively, our clients have submitted 55 INDs with the strong support from our Group. Notably, 6 out of top 10 global pharmaceutical companies have actively partnered with us to develop ADC or XDC assets.
The 'Enable, Follow and Win the Molecule' strategy continued to drive sustainable and fast project growth. We signed 50 new integrated projects in 2023. As of
Later-stage projects (Phase II and III) increased to 21 with 5 PPQ projects, setting the stage for the next chapter of growth.
The Group has accomplished a diversified project base, covering both innovative ADC and broader bioconjugate projects. Total number of integrated ADC projects reached to 129. Number of integrated XDC projects increased to 14.
Evolved from WuXiDAR4 technology platform, the Group has developed and introduced an upgraded proprietary version, WuXiDARx technology, aiming to meet clients' demands to develop highly homogeneous ADCs with a range of distinct DAR values. The products produced from the platform have enhanced stabilities and much better pharmacokinetic profiles.
The Group announced multiple partnerships with prominent biotech or pharmaceutical companies, e.g., the partnership with GeneQuantum, SyntaBio, Multitude Therapeutics/HySlink and Intocell, to accelerate the discovery of preclinical ADC candidates (PCCs) and develop more novel bioconjugates, and improve the development efficiency and rate of success.
Capacity Expansion & Quality System
The Group currently operates three sites in
The global uniquely designed dual-function line for mAb intermediate and bioconjugate drug substance is efficiently operational. It accelerates processes, reduces costs, streamlines workflows, and shortens project timelines.
All company's manufacturing operations are compliant with GMP regulation of FDA, EMA, and NMPA, with 100% success on client and QP audits in 2023, which will ensure the innovative bioconjugate products manufactured in high quality.
Construction of
Industry and Capital Market Recognition, WBS Lean Management and ESG Dedication
The Group has been named the winner of the '2023 Best Contract Development Manufacturing Organization (CDMO)' Award of World ADC Awards, demonstrating continual enhancement of industry-leading technology platform, outstanding capabilities and the trust our customers place in us.
'Best IPO' of the year 2023 by IFR Asia Awards and being the largest Healthcare HK IPO since 2021, raising over
Guided by the Group's lean culture and enabled by the WBS (WuXi Business System), the Group integrated lean management principles and methods to drive continuous improvement and dedicated to improving the comprehensive competitiveness from multiple dimensions including quality, process, cost and efficiency.
The Group continues to improve ESG governance and has established an ESG Committee chaired by the CEO. The Group has been actively creating long-term value for the industry and society, focused on talent development, women's empowerment and employee health, and achieved a number of ESG goals by considering ESG as a cornerstone of sustainable business development.
About WuXi XDC
Contact:
Email: wuxixdc.ir@wuxibiologics.com
Email: wuxixdcpr@wuxibiologics.com
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