WuXi AppTec, the integrated drug development services provider with listings in Shanghai and Hong Kong, recorded robust first-quarter results that pushed its Hong Kong shares sharply higher on Tuesday.
For the January-March period, the company reported revenue of 12.44 billion yuan, a 28.8% increase from the year-ago quarter. Net profit attributable to shareholders rose 26.7%, reaching 4.65 billion yuan.
Trading in the company's Hong Kong-listed shares reflected the upbeat results. By 05:14 GMT the stock had jumped 15% to HK$144.8, a level not seen since December 2021.
Management identified the chemistry segment as the primary engine of the quarter's growth. Revenue in that unit climbed 43.7%, driven by an expansion in small-molecule development and manufacturing services. The company also pointed to operational improvements and higher capacity utilization as important drivers supporting margin expansion and overall profitability.
Other divisions contributed to the top-line advance as well. Testing services revenue rose 27.4%, while the biology segment increased revenue by 10.1%. The company highlighted continued customer demand and growth in newer modalities such as nucleic acids and peptides as factors underpinning performance in those areas.
The combination of strong demand in chemistry, uplift in testing and biology, and efficiency gains together produced the quarterly outcomes that investors rewarded with a sizable share-price move. The company did not disclose additional detail in the figures provided beyond the segment growth rates and the aggregate revenue and profit measures.
Summary of results and market reaction:
- Quarterly revenue: 12.44 billion yuan, up 28.8% year-on-year.
- Net profit attributable to shareholders: 4.65 billion yuan, up 26.7% year-on-year.
- Hong Kong-listed shares rose 15% to HK$144.8 by 05:14 GMT, reaching their highest level since December 2021.
No further commentary or forward-looking projections were included in the company data provided here. The reported figures emphasize segment performance and the operational factors management cited as contributing to profitability.