[ET Net News Agency, 14 July 2021] WuXi Biologics (Cayman) Inc. (02269) said it is
expected that the profit attributable to equity shareholders of the company for the six
months ended 30 June 2021 will increase more than 135% compared with the profit
attributable to equity shareholders of the company for the corresponding period of last
year.
Such increase was primarily attributable to (i) the group's acceleration to undertake,
promptly execute and generate revenue from existing and new COVID-19 projects to support
and enable the group's global clients in the first half of 2021 in combatting against
COVID-19; (ii) leading technology platform, best-in-industry timeline and excellent
execution track record contributing to significantly higher revenue and market share of
new integrated projects; (iii) successful execution of Win-the-Molecule strategy adding
considerable late-stage pipeline and near-term revenue; (iv) the recovery from reduced
productivity due to the brief slow-down in the first quarter of 2020 as disrupted by the
pandemic; (v) the enhancement in the utilization of existing capacities and resources and
the implementation of operational efficiency improvement programs leading to greatly
improved gross margin and operating margin; and (vi) increased investment gains due to the
fair value change of listed and unlisted portfolios held by the group. (RC)