WuXi AppTec Achieves Strong Growth in Revenue and Profit for Q2 and H1 2025, H1 Revenue from Continuing Operations[1] Up 24.2% YoY, and Adjusted Non-IFRS Net Profit Up 44.4% YoY; Backlog for Continuing Operations Up 37.2% YoY
-- Total Revenue Reached RMB11.14 Billion in the Second Quarter, Up 20.4%
Year-over-Year; among which Revenue from Continuing Operations Reached
RMB11.05 Billion, Up 24.9% Year-over-Year
-- Total Revenue Reached RMB20.80 Billion for the First Half, Up 20.6%
Year-over-Year; among which Revenue from Continuing Operations Reached
RMB20.41 Billion, Up 24.2% Year-over-Year
-- Net Profit Attributable to the Owners of the Company Reached RMB8.56
Billion([2]) for the First Half, Up 101.9% Year-over-Year; Diluted
Earnings per Share (EPS) of RMB2.99([3]), Up 106.2% Year-over-Year
-- Adjusted Non-IFRS Net Profit Attributable to the Owners of the Company
Reached RMB6.31 Billion for the First Half, Up 44.4% Year-over-Year;
Adjusted Non-IFRS Diluted EPS of RMB2.20, Up 46.7% Year-over-Year
-- Backlog for Continuing Operations Reached RMB56.69 billion as of June
30, 2025, Up 37.2% Year-over-Year
-- Operating Cash Flow Achieved RMB7.07 Billion for the First Half, Up
49.1% Year-over-Year
SHANGHAI, July 28, 2025 /PRNewswire/ -- WuXi AppTec (stock code: 603259.SH / 2359.HK), a global company that provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical and life sciences industry, today announced financial results for the first half ending June 30, 2025 ("Reporting Period"):
-- For the first half of 2025, total revenue reached RMB20.80 billion, up
20.6% year-over-year. Revenue from Continuing Operations reached
RMB20.41 billion, up 24.2% year-over-year.
-- Adjusted non-IFRS gross profit reached RMB9.26 billion, with the
adjusted non-IFRS gross profit margin up 4.7pts year-over-year to 44.5%.
-- Net profit attributable to the owners of the Company was RMB8.56
billion, up 101.9% year-over-year; diluted EPS was RMB2.99, up 106.2%
year-over-year.
-- Adjusted non-IFRS net profit attributable to the owners of the Company
was RMB6.31 billion, up 44.4% year-over-year; adjusted non-IFRS net
profit margin up 5.0pts year-over-year to 30.4%; adjusted non-IFRS
diluted EPS was RMB2.20, up 46.7% year-over-year.
-- With continuous capacity expansion to better meet customer demand,
backlog for Continuing Operations reached RMB56.69 billion as of June
30, 2025, up 37.2% year-over-year.
-- Operating cash flow climbed 49.1% year-over-year to RMB7.07 billion,
driven by business growth, increase in operating efficiency, and
continued improvement of financial management capabilities.
-- The Company's sustained and steady business growth is the result of our
unique, fully integrated Contract Research, Development and
Manufacturing Organization (CRDMO) platform. Driven by "follow the
molecule" and "win the molecule" strategies, WuXi Chemistry's small
molecule CRDMO pipeline continues to efficiently convert and capture
high-quality molecules, delivering sustained business growth. In the
first half of 2025, a total of 412 new molecules have been added to the
small molecule Development and Manufacturing (D&M) pipeline. As of June
30, 2025, our small molecule D&M pipeline reached 3,409 molecules,
representing an increase of 8 projects in phase III and commercial
stages during the first half of 2025.
-- The Company has been accelerating global expansion and capacity
construction. In March 2025, both the Changzhou and Taixing API
manufacturing sites successfully passed FDA on-site inspections with no
single observation. By the end of 2025, total reactor volume of small
molecule APIs is expected to reach over 4,000kL, and the total reactor
volume of Solid Phase Peptide Synthesizers is expected to increase to
more than 100,000L.
-- As an enabler of innovation and a trusted partner and contributor to the
global pharmaceutical and life sciences industry, the Company actively
advanced sustainability and has been extensively recognized by global
rating agencies. The Company has achieved the highest "AAA" rating from
MSCI for the first time, becoming the first A-share listed company in
the life sciences industry to achieve this milestone. In addition, the
Company's near-term emissions reduction targets have been validated by
Science Based Targets initiatives (SBTi). Our accomplishments have also
been acknowledged by major global rating agencies, including EcoVadis,
CDP, United Nations Global Compact (UNGC), Sustainalytics and FTSE
Russell.
-- The Company remains committed to rewarding shareholders and actively
supporting the Company's value. In the first half of 2025, the Company
distributed a total of RMB3.84 billion in cash dividends, including
RMB2.83 billion for the 2024 annual cash dividend and RMB1.01 billion
for the 2025 special cash dividend. Meanwhile, the Company also
completed the repurchase and cancellation of RMB1.0 billion worth of
A-shares in the first half. An additional, previously announced RMB1.0
billion worth of A-share repurchase and cancellation plan is currently
being implemented, with approximately RMB0.5 billion worth of A-shares
repurchased as of now. Moreover, the Company's Board of Directors
approved WuXi AppTec's first interim dividend plan, distributing RMB3.50
cash dividend for every 10 shares (approximately RMB1.0 billion in
total) to shareholders.
[1] As disclosed in 2025 Interim Report, Continuing Operations include WuXi Chemistry, WuXi Testing, WuXi Biology and Others, the scope of which may change following adjustments to the Company's business strategy.
[2] Net profit attributable to the owners of the Company is prepared in accordance with China Accounting Standards for Business Enterprises (CAS).
[3] In 2024 H1 and 2025 H1, WuXi AppTec had a fully-diluted weighted average share count of 2,913,355,532 and 2,897,449,552 ordinary shares, respectively.
2025 Full-Year Outlook
With confidence in customers' ongoing demand for enabling services, our CRDMO business model and management execution, the Company has raised full-year guidance despite external uncertainties.
The Company expects Continuing Operations revenue to resume double-digit growth in 2025, with its year-over-year growth rate raised to 13-17%, up from the prior 10-15%. As a result, the Company expects full-year total revenue of RMB42.5-43.5 billion, up from the prior RMB41.5-43.0 billion.
As it focuses on the core CRDMO business and continuously improved production and operating efficiency, the Company is confident and expects to further improve the adjusted non-IFRS net profit margin in 2025.
Capex is expected to reach RMB7.0-8.0 billion in 2025. Together with business growth and efficiency improvement, free cash flow is expected to increase from RMB4.0-5.0 billion to RMB5.0-6.0 billion.
Management Comment
Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, "WuXi AppTec once again delivered robust double-digit growth in both revenue and profit in the second quarter, demonstrating the strength of our unique CRDMO business model and the dedication of our global teams. In the first half of 2025, we achieved revenue of RMB20.8 billion, with Continuing Operations revenue growing 24.2% year-over-year, and adjusted non-IFRS net profit growing 44.4% year-over-year, while our backlog for Continuing Operations reached a new record high of RMB56.7 billion."
"Building on this strong momentum and consistent execution, we have raised our 2025 full-year revenue target to RMB42.5-43.5 billion, with Continuing Operations now expected to achieve 13-17% year-over-year double-digit growth, and correspondingly, the free cash flow target up to RMB5.0-6.0 billion. We remain focused on enhancing our core capabilities, expanding capacity, and improving operating efficiency to create greater value for our customers and shareholders."
"Guided by our vision that 'Every drug can be made and every disease can be treated,' we are committed to enabling our partners to deliver innovative therapies to patients worldwide. Together, we will continue to advance healthcare innovation and improve lives."
Business Performance by Segments
-- WuXi Chemistry: CRDMO Business Model Drives Continuous Growth; H1 2025
Revenue Up 33.5% YoY, with TIDES Revenue Up 141.6% YoY
-- H1 revenue of WuXi Chemistry reached RMB16.30 billion, up 33.5%
year-over-year. With continued optimization of production process
and improvement in capacity efficiency driven by the growth of
late-stage clinical and commercial projects, H1 adjusted non-IFRS
gross profit margin steadily improved 5.2pts year-over-year to
49.0%.
-- Small molecule drug discovery service ("R") continues to generate
downstream opportunities. In the past 12 months, we successfully
synthesized and delivered more than 440,000 new compounds to
customers. In the meantime, 158 molecules were converted from R to D
phase in the first half of 2025.Through our "follow-the-customer"
and "follow-the-molecule" strategies, we established trusted
partnerships with our customers globally, supporting the sustainable
growth of our CRDMO business.
-- Small molecule D&M service remains strong.
-- i. The small molecule CDMO pipeline continued to expand. H1
revenue of small molecule D&M services rose 17.5% year-over-year
to RMB8.68 billion. In the first half of 2025, 412 new molecules
were added to the small molecule D&M pipeline. As of June 30,
2025, our small molecule D&M pipeline reached 3,409 molecules,
including 76 commercial projects, 84 in phase III, 368 in phase
II and 2,881 in phase I and pre-clinical stages. That represents
an increase of 8 projects in the commercial and phase III stages
during the first half of 2025.
-- ii. We continued to build small molecule capacity. In March
2025, both the Changzhou and Taixing API manufacturing sites
successfully passed FDA on-site inspections with no single
observation. The total reactor volume of small molecule APIs is
expected to reach over 4,000kL by the end of 2025.
-- TIDES business (oligo and peptides) sustains rapid growth.
-- i. With the ramp-up of new capacities released sequentially
each quarter last year, H1 TIDES revenue grew 141.6%
year-over-year to RMB5.03 billion. As of June 30, 2025, TIDES
backlog was up 48.8% year-over-year.
-- ii. TIDES D&M customers grew 12% year-over-year, while the
number of TIDES molecules grew 16% year-over-year.
-- iii. We continued to build peptide capacity in Taixing. Total
reactor volume of Solid Phase Peptide Synthesizers is expected
to increase to over 100,000L by the end of 2025.
-- WuXi Testing([4]): Drug Safety Evaluation Service & Site Management
Organization (SMO) Maintain Leading Positions
-- WuXi Testing revenue reached RMB2.69 billion in H1, and H1 adjusted
non-IFRS gross profit margin was 25.1%.
-- Q2 revenue of lab testing services reached RMB1.00 billion, growing
5.5% year-over-year and 13.2% quarter-over-quarter. Of which, drug
safety evaluation services revenue grew 3.4% year-over-year and
10.2% quarter-over-quarter.
-- H1 revenue of lab testing services grew 0.4% year-over-year to
RMB1.89 billion. Due to market impact, its H1 adjusted non-IFRS GPM
declined as pricing gradually reflected in revenue along with
backlog conversion. Of which, drug safety evaluation services
revenue was down 2.2% year-over-year, while maintaining an
industry-leading position in the Asia-Pacific region.
-- The Company is committed to actively enabling customers' global
licensing. New modality business continued to develop, while the
Company maintained its leading position in areas including nucleic
acids, conjugates, mRNA, multispecific antibodies and peptides.
-- The Suzhou facility has successfully passed 4 consecutive FDA
on-site inspections.
-- H1 revenue for clinical CRO & SMO declined 4.7% year-over-year to
RMB0.80 billion due to market pricing impact. Of which, SMO revenue
grew 1.5% year-over-year and maintained the industry leading
position in China.
-- During the first half of 2025, our clinical CRO business supported
customers to obtain 12 IND approvals and submit for 2 NDA filings;
the SMO business supported 61 new drug approvals for customers. The
SMO business has supported 317 new drug approvals in total over the
past decade, maintaining significant advantages in multiple areas
(endocrinology, dermatology, lung cancer and cardiovascular disease,
etc.).
-- WuXi Biology: Continues to Generate Downstream Opportunities; In Vitro &
In Vivo Business Synergies and New Modality Business Drive Growth
-- WuXi Biology follows the science and continuously strengthens drug
discovery capabilities in emerging areas. It efficiently generates
downstream opportunities for CRDMO model by continuously
contributing more than 20% of the Company's new customers.
-- Through platform integration, cross-regional collaboration and
comprehensive service transformation, we efficiently enable our
customers. WuXi Biology revenue reached RMB1.25 billion in H1 2025,
a year-over-year increase of 7.1%. Due to market pricing impact, H1
adjusted non-IFRS gross profit margin was down 0.7pts to 36.4%.
-- We accelerated advancements in in vitro integrated screening
technologies and in vivo pharmacology capabilities, driving
continued rapid year-over-year revenue growth. The constantly
improved competitive edge in non-oncology business has laid a solid
foundation for sustained growth throughout the year.
-- New modality drug discovery services continue to perform well,
contributing more than 30% of WuXi Biology's total revenue.
[4] As disclosed in the 2025 First Quarterly Report, WuXi Testing here includes only the core business of Continuing Operations (similar to the 2024 baseline).
This release provides a summary of the results and does not intend to provide a complete statement relating to the Company, its securities, or any relevant matters herein that a recipient may need in order to evaluate the Company. For additional information, please refer to the WuXi AppTec 2025 Interim Results Presentation and 2025 Interim Report disclosed on the Company's official website, as well as the Company's disclosure documents and information on the Shanghai Stock Exchange, the Stock Exchange of Hong Kong Limited website. Investors are advised to exercise caution and be aware of the investment risks in trading Company shares.
Net profit attributable to the owners of the Company is prepared in accordance with China Accounting Standards for Business Enterprises (CAS), in currency of RMB. Besides, all other financial information disclosed in this press release is prepared in accordance with the International Financial Reporting Standards Accounting Standards ("IFRSs"), in currency of RMB.
The 2025 Interim Report of the Company has not been audited.
Second Quarter 2025 Results by Segments
Unit: RMB million
Segment Revenue Change Adjusted Change Adjusted non-
non-IFRS IFRS Gross
Gross Profit Profit Margin
WuXi Chemistry 8,910.40 34.0 % 4,475.02 52.4 % 50.2 %
WuXi Testing 1,396.33 1.6 % 373.99 -27.1 % 26.8 %
WuXi Biology 644.53 6.0 % 235.47 7.8 % 36.5 %
Others 93.89 -55.7 % 67.23 -55.3 % 71.6 %
Discontinued 99.54 -76.1 % 57.93 N/A 58.2 %
Operations (Note 1)
Total 11,144.69 20.4 % 5,209.65 38.0 % 46.7 %
First Half 2025 Results by Segments
Unit: RMB million
Segment Revenue Change Adjusted Change Adjusted non-
non-IFRS IFRS Gross
Gross Profit Profit Margin
WuXi Chemistry 16,301.37 33.5 % 7,984.86 49.4 % 49.0 %
WuXi Testing 2,688.65 -1.2 % 675.89 -33.6 % 25.1 %
WuXi Biology 1,251.60 7.1 % 455.89 5.0 % 36.4 %
Others 163.48 -49.6 % 97.31 -48.0 % 59.5 %
Discontinued 394.18 -51.7 % 44.02 N/A 11.2 %
Operations (Note 1)
Total 20,799.28 20.6 % 9,257.96 34.9 % 44.5 %
Note 1: In accordance with the IFRSs, the Company has classified the operations for which equity sale agreements
were signed or sales were completed during the Reporting Period or the comparison year as discontinued operations.
Note 2: Any sum of the data above that is inconsistent with the total is due to rounding.
Consolidated Statement of Profit or Loss[5] - Prepared under IFRSs
RMB Million Three Months Ended June Six Months Ended June
30, 30,
2025 2024 2025 2024
Revenue 11,144.7 9,259.0 20,799.3 17,240.9
Cost of sales (6,045.5) (5,563.8) (11,687.0) (10,540.0)
Gross profit 5,099.2 3,695.1 9,112.2 6,700.9
Other income 328.2 269.0 639.5 511.0
Other gains and losses 1,375.7 15.5 2,448.9 208.4
Impairment losses under expected credit losses (137.5) (62.4) (290.6) (82.1)
("ECL") model, net of reversal
Impairment losses of non-financial assets (4.0) (73.5)
Impairment losses of assets classified as held for sale (120.7) (120.7)
Selling and marketing expenses (200.3) (178.4) (394.4) (357.5)
Administrative expenses (649.9) (667.0) (1,247.7) (1,277.5)
R&D expenses (290.0) (329.9) (514.4) (636.3)
Operating Profit 5,400.5 2,741.9 9,559.4 5,066.8
Share of results of associates 176.3 81.9 240.2 115.8
Share of results of joint ventures - (4.4) 0.1 (4.2)
Finance costs (88.6) (67.3) (168.8) (128.9)
Profit before tax 5,488.1 2,752.2 9,630.8 5,049.6
Income tax expense (682.6) (430.2) (1,247.1) (768.7)
Profit for the
period 4,805.5 2,322.0 8,383.8 4,280.8
Profit for the period attributable to:
Owners of the Company 4,751.1 2,297.6 8,287.3 4,239.8
Non-controlling interests 54.4 24.4 96.4 41.0
4,805.5 2,322.0 8,383.8 4,280.8
[5] If the sum of the data below is inconsistent with the total, it is caused by rounding.
Consolidated Statement of Profit or Loss[6] (continued) - Prepared under IFRSs
Three Months Ended June
30, Six Months Ended June 30,
2025 2024 2025 2024
Weighted average number of ordinary shares for calculating EPS
(expressed in shares)
- Basic 2,834,045,549 2,895,745,826 2,840,111,082 2,907,737,554
- Diluted 2,892,304,153 2,899,828,193 2,897,449,552 2,913,355,532
Earnings per share (expressed in RMB per
S
hare)
- Basic 1.68 0.79 2.92 1.46
- Diluted 1.66 0.79 2.89 1.45
[6] If the sum of the data below is inconsistent with the total, it is caused by rounding.
Consolidated Statement of Financial Position[7]
- Prepared under IFRSs
June
3
0
RMB Million , December 31,
2025 2024
Non-current Assets
Property, plant and equipment 25,725.6 25,267.8
Right-of-use assets 1,901.4 1,874.8
Goodwill 971.6 972.4
Other intangible assets 511.7 601.0
Interests in associates 1,887.1 2,322.2
Interests in joint ventures 3.4 3.4
Deferred tax assets 511.1 473.1
Financial assets at fair value through profit or 8,504.4 8,943.4
loss ("FVTPL")
Other non-current assets 153.6 114.7
Biological assets 1,065.1 1,063.0
Total Non-current Assets 41,235.0 41,635.7
Current Assets
Inventories 5,293.6 3,532.1
Contract costs 925.8 912.2
Biological assets 931.8 955.5
Amounts due from related parties 85.9 89.3
Trade and other receivables 9,137.4 9,643.7
Contract assets 825.7 988.8
Income tax recoverable 39.8 87.2
Financial assets at FVTPL 2,942.4 1,234.0
Derivative financial instruments 2.6
Other current assets 735.6 734.1
Pledged bank deposits 12.2 22.1
Term deposits with initial term of over three months 3,937.5 4,865.6
Bank balances and cash 17,535.5 13,434.3
42,406.0 36,498.8
Assets classified as held for sale 182.8 2,191.3
Total Current Assets 42,588.7 38,690.2
Total Assets 83,823.8 80,325.8
[7] If the sum of the data below is inconsistent with the total, it is caused by rounding.
Consolidated Statement of Financial Position (continued)[8]
- Prepared under IFRSs
June
3
0
RMB Million , December 31,
2025 2024
Current Liabilities
Trade and other payables 7,410.2 7,025.5
Amounts due to related parties 12.5 15.3
Derivative financial instruments - 202.0
Contract liabilities 2,227.1 2,251.0
Bank borrowings 5,798.2 1,278.6
Lease liabilities 220.9 224.2
Income tax payables 1,296.3 870.8
Convertible bonds 3,517.4 3,493.1
20,482.6 15,360.6
Liabilities directly associated with assets 36.4 865.5
classified as held for sale
Total Current Liabilities 20,518.9 16,226.1
Non-current Liabilities
Bank borrowings 904.9 2,959.5
Deferred tax liabilities 439.4 522.4
Deferred income 959.4 985.6
Lease liabilities 592.1 546.6
Total Non-current Liabilities 2,895.8 5,014.1
Total Liabilities 23,414.7 21,240.2
Net Assets 60,409.1 59,085.6
Capital and Reserves
Share capital 2,872.2 2,888.0
Reserves 57,039.5 55,744.7
Equity attributable to owners of the Company 59,911.7 58,632.7
Non-controlling interests 497.4 452.9
Total Equity 60,409.1 59,085.6
[8] If the sum of the data below is inconsistent with the total, it is caused by rounding.
Adjusted Non-IFRS Net Profit Attributable to the Owners of the Company[9]
RMB Million Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Net
p
rofit attributable to the owners of the Company under CAS 4,888.9 2,297.6 8,560.9 4,239.8
GAAP difference[10] (137.9) (273.6)
Net
p
rofit attributable to the owners of the Company under IFRSs 4,751.1 2,297.6 8,287.3 4,239.8
Add:
Share-based compensation expenses 142.0 77.2 176.4 165.0
Issuance expenses of convertible bonds 9.8 19.6
Foreign exchange related losses 270.0 14.6 448.0 29.0
Amortization of acquired intangible assets from merger and 6.7 13.4 13.8 27.0
acquisition
Gains or losses from divestiture, restructuring and resource 131.3 139.9
integration initiatives
Non-IFRS net profit attributable to the owners of the Company 5,310.9 2,402.7 9,085.0 4,460.7
Add:
Realized and unrealized (gains)losses from venture capital investments (1,673.8) 51.9 (2,770.1) (92.7)
Realized and unrealized share of (gains)losses from joint ventures (0.0) 4.4 (0.1) 4.2
Adjusted non-IFRS net profit attributable to the owners of the Company 3,637.1 2,459.1 6,314.8 4,372.2
[9] If the sum of the data below is inconsistent with the total, it is caused by rounding.
[10] Due to differences in accounting treatment of long-term equity investments under IFRSs, it occurs GAAP difference of RMB(137.9) million for second quarter of 2025 and RMB(273.6) million for first half of 2025.
About WuXi AppTec
WuXi AppTec is a trusted partner and contributor to the pharmaceutical and life sciences industries, providing R&D and manufacturing services that help advance healthcare innovation. With operations across Asia, Europe, and North America, we offer integrated, end-to-end services through our unique CRDMO (Contract Research, Development, and Manufacturing Organization) platform. We are privileged to work alongside nearly 6,000 partners across 30+ countries, supporting their efforts to bring breakthrough treatments to patients. Guided by our vision that every drug can be made and every disease can be treated, we are committed to advancing breakthroughs for patients--one collaboration at a time. Learn more at www.wuxiapptec.com.
Forward-Looking Statements
This press release may contain certain statements that are or may be forward looking, which can be recognized by the use of words such as "expects", "plans", "will", "estimates", "projects", "intends", or words of similar meaning. Such forward-looking statements are not historical facts, but instead are predictions about future events based on our beliefs, development strategy, business plan as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward-looking statements are subject to risks relating to, among other things, our ability to meet timelines for the expansion of our service offerings or to reach the scale of our production capacity expansion plans, our ability to protect our clients' intellectual property, competition, unforeseeable change of international policy, the impact of emergencies and other force majeure. Our forward-looking statements do not constitute any profit forecast by our management nor an undertaking by WuXi AppTec Co., Ltd. ("WuXi AppTec" or the "Company") to our investors. ACCORDINGLY, YOU ARE STRONGLY CAUTIONED THAT RELIANCE ON ANY FORWARD-LOOKING STATEMENTS INVOLVES KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and we do not undertake any obligation to update any forward-looking statement or information in this press release to reflect future events or circumstances, except as required under applicable law.
Continuing Operations and Discontinued Operations
In accordance with the IFRSs, the Company has classified the operations for which equity sale agreements were signed or sales were completed during the Reporting Period or the comparison year as discontinued operations ("Discontinued Operations"). The remaining operations of the Company will continue to be reported as continuing operations ("Continuing Operations").
Use of Non-IFRS and Adjusted Non-IFRS Financial Measures
We provide non-IFRS gross profit and non-IFRS net profit attributable to the owners of the Company, which exclude share-based compensation expenses, issuance expenses of convertible bonds, foreign exchange-related gains or losses, amortization of acquired intangible assets from merger and acquisition, gains or losses from divestiture, restructuring and resource integration initiatives, etc. We also provide adjusted non-IFRS net profit attributable to the owners of the Company and earnings per share, which further exclude realized and unrealized gains or losses from our venture capital investments and joint ventures. Neither of the above is required by, or presented in accordance with IFRSs.
We believe that the adjusted financial measures used in this presentation are useful for understanding and assessing our core business performance and operating trends, and we believe that management and investors may benefit from referring to these adjusted financial measures in assessing our financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and non-operating items that we do not consider indicative of the performance of our core business. Such non-IFRS financial measures, the management of the Company believes, is widely accepted and adopted in the industry the Company is operating in. However, the presentation of these adjusted non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRSs. You should not view adjusted results on a stand-alone basis or as a substitute for results under IFRSs, or as being comparable to results reported or forecasted by other companies.
SOURCE WuXi AppTec
