WuXi XDC: Unfinished Orders RMB 9.5 Billion

On August 18, WuXi XDC, a global leading contract research, development and manufacturing organization (CRDMO) for bioconjugate drugs, announced its 2025 half-year report. The company’s revenue was RMB 2.701 billion, a year-on-year increase of 62.2%, mainly due to an increase in the number of customers and projects. Net profit was RMB 746 million, a year-on-year increase of 52.7%.

The total number of global customers expanded to 563. In the first half of 2025, 64 new customers were added, among which 13 of the world’s top 20 pharmaceutical companies by 2024 revenue established cooperation with WuXi XDC. The total number of integrated CMC (iCMC) projects reached 225, with 37 new iCMC projects signed in the first half of 2025, a record high. The Group successfully obtained 11 PPQ (process performance qualification) projects and 1 commercial-stage project. The total amount of unfinished orders increased to USD 1.329 billion (RMB 9.542 billion), a year-on-year increase of 57.9%.

From January to July 2025, in ADC M&A transactions, 75% of acquired companies were Group customers. From January to July 2025, in ADC out-licensing transactions exceeding USD 1 billion, Group customers contributed more than 75% of the total transaction amount.

The Group’s project layout covers innovative ADC and broader bioconjugate drug (XDC) projects. As of the end of the reporting period, the total number of integrated ADC projects increased to 201, and the number of integrated XDC projects increased to 24.

In the first half of 2025, the Group completed early research on more than 2,300 bioconjugate drug molecules, including: bispecific ADCs, dual-payload ADCs, DAC (degrading antibody conjugates), AOC (antibody-oligonucleotide conjugates), APC (antibody-peptide conjugates), and ACC (antibody-chelator conjugates).

Driven by rapid business growth and capacity expansion, the total number of full-time employees increased by 51.7% year on year, reaching 2,270 people.

During the reporting period, the Group achieved a 100% success rate in global customer order delivery, completing the execution of 4 PPQ-stage component productions in the first half of 2025. The Group has cumulatively passed more than 160 GMP audits by global customers, including 16 audits by EU Qualified Persons (EU QP).

The Singapore site reached the mechanical completion milestone in June 2025, and officially entered the equipment and facility commissioning and validation stage, with GMP release expected in the first half of 2026.

With the DP3 formulation workshop obtaining GMP release in July 2025, the Wuxi site further enhanced its integrated manufacturing capability. The DP5 formulation workshop is currently under construction and is planned to achieve GMP release in 2027. Since its launch in November 2024, the BCM2 L2 antibody and conjugate drug substance production line has continuously accelerated its capacity expansion.

Reference

[1].https://wuxixdc.com/wuxi-xdc-continues-to-deliver-robust-business-growth-and-financial-results-in-1h-2025-strengthening-global-crdmo-leadership-position-in-bioconjugates-industry/