Wuxi Biologics (Cayman) ( (WXIBF) ) has released its Q4 earnings. Here is a breakdown of the information Wuxi Biologics (Cayman) presented to its investors.
Wuxi Biologics (Cayman) Inc., a leading player in the global bioconjugates industry, provides comprehensive CRDMO services for ADC and broader bioconjugate development. The company reported significant growth in its 2024 earnings, with revenue increasing by 90.8% to RMB4,052.3 million and net profit surging by 277.2% to RMB1,069.6 million. The company attributes this growth to its expanding customer base and increased demand for its integrated services. Wuxi Biologics continues to expand its manufacturing capabilities, with new facilities under construction in Wuxi and Singapore, aiming to meet the growing global demand for bioconjugate CRDMO services. Looking ahead, the company plans to leverage its fully integrated platform to maintain its industry-leading position and capitalize on the burgeoning market opportunities in the bioconjugate sector.