Revenue increased by 126.7% year-on-year!

Revenue increased by 126.

Gross profit increased by 191.

Adjusted net profit attributable to owners of the company increased by 163.

Gross profit margin 52.

Diluted earnings per share increased by 133.

The dual strategies of "follow the molecules" and "win the molecules" continue to exert force, and the global market share continues to expand

The number of comprehensive projects increased from 79 to 408

In the first year of commercialization, the number of commercialization projects increased to 4 and the number of clinical Phase III projects increased to 32.

Commercial production revenue increased to RMB 890 million

Post-clinical and commercial production revenue increased by 366% year-on-year

Unfulfilled orders within three years increased by 143% year-on-year to US$2.

Three mergers and acquisitions were successfully integrated and started to contribute revenue

Passed 9 inspections by global drug regulatory agencies, demonstrating world-class quality system

Business is booming Sign 9 vaccine contracts including 3 new crown vaccine projects

WuXi Helian sets sail to focus on empowering innovation and development of bioconjugated drugs

Support 120 comprehensive projects each yearContinuously improve R&D service capabilities Empower global partners

Global production capacity has been steadily expanded as scheduled to facilitate sustained high-speed growth

On August 23, 2021, the world’s leading open biologics technology platform company providing customers with end-to-end solutions for the discovery, development and production of biologics-WuXi Biotechnology Co.

Financial highlights in the first half of 2021

Revenue: Revenue increased by 126.

Gross profit and gross profit margin: Gross profit increased by 191.

Net profit attributable to owners of the company: net profit attributable to owners of the company increased by 150.

Adjusted net profit attributable to owners of the company: Adjusted net profit attributable to owners of the company increased by 163.

Diluted earnings per share increased by 133.

Business highlights in the first half of 2021

WuXi Biologics successfully implemented the dual strategies of "following the molecule" and "winning the molecule", and achieved great results.

The number of comprehensive projects increased to 408, a record high

The total amount of uncompleted orders increased by 31.

2021 is the first year of WuXi Biologics commercial production
.
As of June 30, 2021, a total of 4 projects have entered the commercial production stage, and 32 projects have entered clinical phase III
.
The post-clinical and commercial production income increased by 366% year-on-year, of which the commercial production income reached 890 million yuan
.
It is expected that more projects will enter the commercial production stage in the second half of the year and beyond
.

In the first 7 months of 2021, WuXi Biologics has completed 9 times from multiple global drug regulatory agencies such as the U.
S.
Food and Drug Administration (FDA), European Medicines Agency (EMA), China National Medical Products Administration (NMPA), etc.
The inspection once again demonstrates WuXi Biologics’ world-class quality standard system, laying a solid foundation for winning more global partners in the future and leading the industry standard
.

WuXi Hyde's vaccine business has made significant progress in the first half of 2021
.
As of June 30, 2021, WuXi Hyde has signed 9 vaccine contracts, including 3 new crown vaccine projects
.
With its strong production capacity, WuXi Hyde has supplied more than 100 million doses of COVID-19 vaccine at the fastest speed to help the world fight the epidemic.
It is expected that more than 100 million doses of COVID-19 vaccine will continue to be supplied in the second half of 2021
.

WuXi Biologics successfully empowered Vir/GSK's COVID-19 neutralizing antibody to obtain the U.
S.
Food and Drug Administration (FDA) Emergency Use Authorization (EUA) within 14 months, breaking the industry's record from DNA to EUA, and once again the company demonstrates its excellence Technical platform, first-class quality system and industry-leading execution
.

WuXi Biologics continues to assist global partners in the fight against the COVID-19 pandemic, adding 8 new coronavirus-neutralizing antibody projects
.
The COVID-19 neutralizing antibody project on the WuXi Biologics platform includes 3 clinical phase III projects and more than 10 clinical phase I/II projects
.
The new crown project is expected to continue to generate higher returns in 2022
.

Facing the rapidly increasing market demand for mRNA vaccines, WuXi Biologics has established an integrated mRNA technology platform in Hangzhou, China, to empower the development and production of mRNA vaccines
.
At present, the company is also negotiating cooperation with a number of mRNA vaccine companies
.

WuXi Biologics and WuXi AppTec (stock code: 603259.
SH / 2359.
HK) subsidiary Hequan Pharmaceuticals joined forces to form a joint venture, WuXi XDC
.
Relying on the professional advantages of the two companies, WuXi Helian will provide global customers with leading integrated bioconjugate CDMO services
.
As of June 30, 2021, WuXi Helian has hosted 48 projects and more than 100 global partners, quickly seizing market opportunities
.

In the first half of 2021, WuXi Biologics has completed three acquisitions and smoothly promoted the integration of related production bases, including Bayer's original solution production base in Wuppertal, Germany, Pfizer China's original solution and preparation production base in Hangzhou, and a China biopharmaceutical contract The research and development and production enterprise (CDMO) Suqiao Biotechnology further consolidates the global production layout
.
Among them, the production bases in China have been put into operation and began to generate revenue
.

Without fear of the continued impact of the new crown epidemic, WuXi Biologics' capacity expansion plan in Europe is still advancing as scheduled
.
The commercial production of the biologics plant (DP7) in Leverkusen, Germany has been certified by the German health regulatory agency; the biologics and vaccine production bases in Ireland are expected to be put into operation in 2022 and 2023 respectively, which will further enhance WuXi Biologics Market share in Europe
.

WuXi Biologics continues to cultivate innovative technologies
.
In the first half of the year, a new multispecific/multifunctional antibody technology platform SDArBodY™ was launched
.
The platform has the characteristics of high affinity, excellent druggability, low immunogenicity and flexibility, and will meet the diverse needs of global customers for the construction of multispecific/multifunctional antibodies
.

As of June 30, 2021, the total number of WuXi Biologics employees has increased to 7,686, and 552 employees have doctoral degrees
.
It is worth mentioning that the number of employees in the United States and Europe has exceeded 500, the biopharmaceutical R&D team has been expanded to 2803 people, and the company's core employee retention rate has exceeded 96%
.

WuXi Biologics is committed to strengthening environmental protection, improving corporate governance, and giving back to society
.
The company established an Environmental, Social and Governance (ESG) Committee directly led by the CEO, and won the "Best ESG Award" from Institutional Investor for its outstanding performance in the ESG field, and The "InnoESG Prize" awarded by the SocietyNext Foundation
.

In the first half of 2021, WuXi Biologics business continued to grow rapidly and its market share continued to increase
.
The number of integrated projects, outstanding orders and financial performance all hit record highs
.

Overview of some operational highlights

The dual strategies of "follow the molecules" and "win the molecules" drive continuous expansion of market share

The company continued to improve its competitiveness in the global market.
During the reporting period, 79 new projects were added, including 18 projects brought by the acquisition of Suqiao Biotechnology
.
The dual strategies of “follow the molecule” and “win the molecule” further promoted the growth of pipeline projects, hitting a record high, and successfully proved the powerful strength of WuXi Bio-integrated technology empowerment platform
.
The number of comprehensive projects jumped to 408, including monoclonal antibodies (mAb), bispecific antibodies, multispecific antibodies, antibody-conjugated drugs (ADC), vaccines and other new molecules
.
Among them, the number of global new (First-in-Class) projects is as high as 152
.

In the first half of 2021, with its leading technology platform, excellent project delivery time, excellent execution and world-class quality system, the company won 12 integrated projects transferred from outside, including 5 clinical phase II and 4 A clinical Phase III project
.
The rapid advancement of the "winner" strategy will boost revenue growth in the later and commercial production stages
.

Accumulation of late-stage projects and CMO business

2021 is the first year of WuXi Biologics' commercial production business: in the first half of the year, the number of CMO projects has increased to four, and it is expected that more projects will enter the commercial production stage in the second half of the year and beyond
.
GSK/Tesaro's PD-1 antibody has been approved by the FDA and EMA in the first half of 2021.
This is also the first IND to Biological Product Marketing Application (BLA) project successfully empowered by WuXi Biologics, which strongly proves that WuXi Biologics The business model and integrated technology empowerment platform
.
During the reporting period, the post-clinical and commercial production revenue increased by 366% year-on-year, of which the commercial production revenue increased to RMB 890 million, and there were as many as 32 clinical Phase III projects.
It is expected that more projects will enter commercial production in the future to help revenue Continue to grow
.

The rapid development of the vaccine business takes advantage of the momentum

WuXi Hyde will continue to develop its vaccine business in the first half of 2021.
It has signed 3 new crown vaccine contracts and 6 non-new crown vaccine contracts, and is expected to continue to contribute revenue this year
.
In addition, WuXi Biologics has established an integrated mRNA technology platform in Hangzhou, China, to provide customers with integrated services from development to production of mRNA vaccines.
It is currently negotiating contracts with a number of mRNA vaccine companies
.
The prosperous vaccine business once again demonstrates the company's commitment to helping the world fight the new crown and other diseases
.

Established WuXi Helian to build the next sustainable and rapid development engine

In the first half of 2021, WuXi Biologics and Hequan Pharmaceuticals joined forces to make full use of the capabilities and scale advantages of the two companies in the discovery, development and production of small molecules and biological drugs to establish WuXi Helian as a joint venture
.
WuXi Helian is one of the few companies in the world that can provide end-to-end services for bioconjugate drug discovery, development and production
.
Thanks to leading technology and excellent service, WuXi Helian has already hosted 48 projects and more than 100 global partners, quickly seizing market opportunities
.

M&A and self-construction complement each other to accelerate global production capacity layout

In the first half of 2021, WuXi Biologics completed three acquisitions of the Bayer Wuppertal production base in Germany, Pfizer's Hangzhou production base in China, and Suqiao Biologics, rapidly increasing production capacity to meet the surge in customer order demand
.
At present, the company's global production capacity is steadily advancing according to the pipeline's late-stage clinical project progress.
It is estimated that the global production capacity will reach 150,000 liters by the end of this year, and will further increase to 430,000 liters after 2024
.

World-class quality system supports future CMO business growth

As of July 31, 2021, WuXi Biologics has accumulatively completed more than 15 visits from the U.
S.
Food and Drug Administration (FDA), European Medicines Agency (EMA), Brazilian National Health Surveillance Agency (ANVISA), and China National Medical Products Administration.
The quality system has been certified by multiple regulatory agencies worldwide
.
Facing the adverse effects of the new crown epidemic, WuXi Biologics turned crisis into opportunity, embraced change, and used its self-developed innovative digital tools to assist regulatory agencies in carrying out various forms of GMP inspections: successfully completed multiple EMA remote inspections in the first half of 2021 And FDA on-site inspection and remote inspection
.

Up to now, the company's 7 production plants have obtained GMP certification
.
The biologics plant (DP7) located in Leverkusen, Germany has recently obtained the German Health Regulatory Agency (HA) certification.
This is also WuXi Biologics' first overseas GMP certified production plant, further demonstrating the company's world-class quality system
.
DP7 only took 12 months from plant verification to obtaining production certification, becoming one of the best examples of the application of WuXi Bio-Speed ​​and WuXi Bio-Quality in the world
.

Build a top talent team to support rapid business growth

WuXi Biologics always attaches great importance to team building of talents
.
As of June 30, 2021, the total number of employees in the company has increased to 7,686, including more than 500 employees in the United States and Europe, and the biopharmaceutical R&D team has expanded to 2,803
.
By the end of the year, the total number of employees in the company is expected to increase to 9,600
.
In the first half of 2021, the company attracts and retains talents through competitive remuneration and equity incentive policies, and expands the coverage of the equity incentive plan, allowing more employees to share the company’s development dividends, and reserves sufficient keys for the company to lead the future development of the industry Talent
.

Layout next-generation technology platform to lead industry development

WuXi Biologics continues to expand its integrated technology platform, empowering more global partners to embrace the next-generation R&D wave
.
In the first half of this year, emerging businesses such as double antibodies, ADCs, fusion proteins and vaccines grew rapidly
.
The company has built a new integrated mRNA vaccine technology platform and SDArBodY™ polyclonal technology platform, continuously expanding new technologies and new capabilities, and consolidating its leading position in the industry
.
In addition, the WuXi Biologics team has published a number of influential academic papers in international authoritative journals, introducing in-depth the latest developments in WuXia™, WuXiUP™ and WuXiBody® biotechnology platforms, leading the industry with innovation
.

Strengthen environmental protection, practice social responsibility, improve corporate governance, create a global benchmark

WuXi Biologics is committed to implementing ESG concepts, strengthening environmental protection, improving corporate governance, and giving back to society
.
The company continues to promote and apply advanced one-off production technologies in the global production capacity layout
.
One-off production technology greatly reduces environmental pollution and water consumption
.
In addition, the company is actively researching and formulating mid- and long-term carbon neutral implementation plans to systematically reduce carbon emissions and advocate green and sustainable development
.
In addition, WuXi Biologics also actively fulfills its corporate social responsibility
.
In the face of the recent heavy rains in Henan, China, WuXi Biologics responded quickly and allocated special funds and matched employee donations.
A total of RMB 10 million was donated to support disaster relief and post-disaster reconstruction work
.
With its excellent ESG performance and efficient and transparent communication with the capital market, WuXi Biologics has won the "Institutional Investor" "Best ESG Award" and the SocietyNext Foundation's "InnoESG Prize" in the first half of 2021
.

Management comments

Dr.
Zhisheng Chen, Chief Executive Officer of WuXi Biologics, said: "In the first half of 2021, WuXi Biologics has achieved further success with the dual strategies of'follow the molecule' and'win the molecule'
.
The number of integrated projects has increased from 79 to 408, and various businesses have continued.
With growth, emerging businesses such as ADC, vaccines, fusion proteins, double antibodies and polyclonal antibodies have also grown significantly
.
In the first half of the year, gross profit margin and net profit margin reached record highs of 52.
1% and 42.
7%, respectively, demonstrating the continuous improvement of the company’s operational and management efficiency
.
Thanks to one-off production technology, we have been leading the industry in terms of reducing production costs, protecting the environment and improving return on investment
.
"

"We are very pleased that the company's first project from IND to BLA, GSK/Tesaro's PD-1, has been approved by the FDA and EMA.
Strategy
.
At present, we have 32 clinical Phase III projects and 4 CMO projects in our pipeline, laying a solid foundation for sustained high-speed growth in the future
.
At the same time, we have further expanded our service capabilities and scale, and IND projects that can be empowered every year The number has increased to 120, and the expansion of production capacity will be accelerated through global mergers and acquisitions and self-construction to meet the growing market demand
.
"

Dr.
Chen pointed out: "In the past ten years, we have successfully created three differentiated development directions, leading the development of global biopharmaceutical CDMO: First, the unique "follow molecule" business model and a complete end-to-end process from discovery, development to production.
End service capabilities; secondly, emphasizing the D (development) in CDMO and establishing an excellent biotechnology platform; finally, applying one-time production technology to corner overtaking to promote sustainable development
.
Looking forward to the next ten years, we will continue to stay true to our original intentions , Insist on strengthening capacity and scale building, accelerate and change the discovery, development and production process of biological drugs, empower global partners, and benefit the vast number of patients
.
"

Dr.
Ge Li, Chairman of WuXi Biologics, concluded: "Wuxi Biologics has achieved very brilliant results in the first half of 2021.
We will continue to be determined to change, strive for excellence, innovate and empower, and challenge the limits
.
In the past years of development, Mingsheng has created value for shareholders and stakeholders through stable and outstanding performance growth, and has won a good reputation
.
In the future, we will continue to unswervingly empower global partners, seek the well-being of patients, and realize the early realization of There is no such thing as a medicine that is difficult to make, or a disease that is difficult to treat
.
"

2021 Interim Results

In the first half of 2021, the group's revenue increased by 126.
7% year-on-year to RMB 4.
41 billion
.
The main growth drivers are: (i) the group has accelerated the acceptance and rapid implementation of new crown and non-new crown projects, empowering global customers and obtaining corresponding benefits; (ii) relying on the world's leading integrated technology platform, customer-centric processes and systems, With excellent project execution and past records, the industry’s best project delivery time, the flexibility to fully meet customer needs, an experienced management team and a professional and dedicated talent team, the group continues to win new integrated projects, with significant market share and revenue Improvement; (iii) Successfully implemented the “winner” strategy, thereby introducing more late-stage projects in the R&D pipeline and increasing near-term revenue; and (iv) The basis of comparison was low due to the outbreak of the new crown epidemic in China in the same period last year

Gross profit increased by 191.
7% to RMB 2.
3 billion in the first half of 2021, with a gross profit margin of 52.
1%
.
The increase in gross profit is mainly attributable to: (i) the number of integrated projects and the number of projects in the later stages of R&D has increased significantly, which has led to significant business growth; (ii) accomplished more with less new human resources Projects; (iii) make full use of existing production facilities to serve the New Crown Project and other late-stage projects; and (iv) continue to carry out related projects to improve operational efficiency
.

The net profit attributable to owners of the company in the first half of 2021 increased by 150.
3% year-on-year to approximately RMB 1.
84 billion
.
The profit margin attributable to shareholders of the company increased by 390 basis points year-on-year to 41.
8%
.
The substantial increase in profit attributable to shareholders of the company is mainly due to: (i) the increase in gross profit as described above; (ii) the successful implementation of cost saving and efficiency improvement projects
.

The adjusted net profit attributable to owners of the company increased by 163.
0% year-on-year to RMB 1.
77 billion in the first half of 2021, and the adjusted profit margin attributable to shareholders of the company increased by 550 basis points year-on-year to 40.
1%
.
The reasons for the increase are the same as above
.

Basic and diluted earnings per share were RMB 0.
44 and 0.
42, respectively, representing a year-on-year increase of 131.
6% and 133.
3%
.

Adjusted diluted earnings per share increased by 150.
0% year-on-year to RMB 0.
40
.

Main financial ratio

(For the first six months ended June 30)

Note: Basic and diluted earnings per share are presented after taking into account the impact of share subdivisions
.
The comparative figures have also been restated on the assumption that the stock split will take effect in the interim results of the previous year
.