WuXi XDC Posts Record 2025 Growth, Solidifying Global Bioconjugate Leadership

SHANGHAI – March 23, 2026 – WuXi XDC Cayman Inc. (2268.HK) today announced exceptional annual results for 2025, reinforcing its dominant position in the global bioconjugate market. The contract research, development, and manufacturing organization (CRDMO) reported a staggering 46.7% year-over-year revenue increase to RMB 5,944 million, underscoring the explosive growth in demand for complex therapies like antibody-drug conjugates (ADCs).

The company’s financial performance paints a picture of a business firing on all cylinders. Gross profit surged by 72.5% to RMB 2,139 million, while adjusted net profit climbed nearly 70% to RMB 1,559 million. This robust financial health is built on a rapidly expanding project pipeline and a growing roster of high-profile clients, validating the company's integrated strategy in a highly specialized and competitive sector.

A Strategy of Market Domination

WuXi XDC’s remarkable growth is not a matter of happenstance but the result of a meticulously executed strategy dubbed "Enable, Follow, and Win the Molecule." This approach has translated into a formidable project backlog, which grew by over 50% to US$1.49 billion in 2025, providing strong visibility for future revenue.

The company's customer base expanded to over 640 firms, a testament to its enabling capabilities. Critically, this includes partnerships with 14 of the world's top 20 largest pharmaceutical companies, signaling deep trust from industry leaders. The total number of integrated projects under its management reached 252, with a record 70 new integrated projects signed in 2025 alone. This influx includes 10 new late-stage Process Performance Qualification (PPQ) projects, a key indicator that more partnered drugs are approaching commercialization.

This success has solidified WuXi XDC's market leadership. By mid-2025, the company commanded an estimated global market share of over 22% in the bioconjugate CRDMO sector, a significant increase from just under 10% in 2022. This rapid share acquisition highlights the effectiveness of its single-source, open-access platform, which streamlines the complex journey from discovery to large-scale manufacturing for drug developers.

The Technology Engine Fueling Next-Gen Therapies

Beyond sheer scale, WuXi XDC’s competitive edge is sharpened by its proprietary technology platforms, which are accelerating the development of next-generation bioconjugates. The company has moved beyond being a simple contract manufacturer to become a core innovation partner for its clients.

Its WuXiDARx™ platform, for instance, allows for the creation of highly homogeneous ADCs with precise drug-to-antibody ratios, a critical factor for optimizing a drug's efficacy and safety. This technology has already helped clients advance eight ADC candidates into clinical trials. Complementing this is the X-LinC™ technology, which enhances the stability of the connection between the antibody and its payload, potentially improving a drug's therapeutic window.

Further demonstrating its R&D prowess, the company recently launched its WuXiTecan-1 and WuXiTecan-2 payload-linker platforms. These proprietary technologies are designed to create ADCs with better stability and tolerability. The value of this innovation was powerfully validated in February 2026 when WuXi XDC entered a strategic collaboration with Earendil Labs, out-licensing its WuXiTecan-2 platform in a deal with a potential total value of up to US$885 million. This partnership not only provides a significant non-service-based revenue stream but also affirms the industry's confidence in WuXi XDC's technology.

The industry has taken note of this dual excellence in service and innovation. At the prestigious 2025 World ADC Awards, WuXi XDC was named "Best CDMO" for the third consecutive year and also took home the "Best CRO" award, a clean sweep that underscores its comprehensive leadership.

Building a Resilient Global Footprint

To support its explosive growth and meet surging global demand, WuXi XDC has embarked on an ambitious capacity expansion plan, blending organic growth with strategic acquisitions. This expansion is not just about adding volume but also about building a geographically diversified and resilient supply chain.

The centerpiece of this strategy is a new state-of-the-art manufacturing site in Singapore, which is on track for GMP release in the first half of 2026. This facility is pivotal to the company's "Global Dual-Sourcing" strategy, offering clients enhanced supply security by providing a major manufacturing hub outside of China. This move is widely seen as a proactive measure to reassure a global client base that may be concerned about geopolitical tensions and supply chain vulnerabilities, particularly in light of proposed US legislation like the BIOSECURE Act, which has cast a shadow over Chinese biotech firms.

In addition to the Singapore expansion, the company has been aggressive in its home market. It has executed two strategic acquisitions to bolster its capabilities: the purchase of BioDlink, which adds a key site in Suzhou for integrated bioconjugate production, and an acquisition in Hefei to expand expertise in peptide and oligonucleotide synthesis. Furthermore, a new facility is planned for Jiangyin to quintuple the production capacity for novel payload-linkers, crucial components for next-generation therapies like dual-payload ADCs and antibody-oligonucleotide conjugates (AOCs).

"2025 was a transformative year for WuXi XDC, as we solidified our leadership in global biconjugate CRDMO market and completed several key strategic initiatives," stated Dr. Jimmy Li, CEO of WuXi XDC. "Looking ahead to 2026, we will continue to uphold our unwavering commitment to innovation, operational excellence, and collaboration with our clients. We will empower our customers with continuous evolution, bring breakthrough therapies to more patients worldwide, and lead the development of the industry."