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WuXi AppTec announced its financial results for Q1 2024, achieving revenue of RMB7,982 million, with net profit of RMB1,942 million. The company added over 300 new customers and served 6,000 active customers. WuXi Chemistry's D&M pipeline saw growth, adding 337 new molecules. The company is committed to sustainability and quality standards, with recognition from global ESG agencies. Revenue from top 20 pharmaceutical companies grew by 4.2%. WuXi AppTec aims for revenue of RMB 38.3-40.5 billion for the full year.
Despite external challenges, the company maintained stable operations with positive free cash flow of RMB1,326 million. WuXi Chemistry revenue reached RMB5.56 billion, with adjusted non-IFRS gross profit margin of 43.3%. WuXi Testing and WuXi Biology also showed steady growth. WuXi ATU faced challenges due to completion of high-margin projects in 2023 and under-utilization of capacity.
Overall, WuXi AppTec's innovative services and commitment to quality continue to drive business growth, enabling the company to support the pharmaceutical and life sciences industry globally.
