According to Zhitong Finance APP, on the evening of October 26, WuXi AppTec announced that its third-quarter operating revenue was 16.640 billion yuan, up 38.01% year-on-year; net profit attributable to shareholders of the listed company was 8.318 billion yuan, up 136.67% year-on-year, and it further raised its full-year 2026 performance guidance. The company's overall revenue for 2026 is expected to be raised from 58.5 billion yuan to 60.5 billion yuan up to 61 billion yuan to 61.9 billion yuan, and the year-on-year growth rate of continuing operations revenue is raised from 35% to 39% up to 40% to 42%. WuXi AppTec stated that the performance growth was mainly due to continued focus on the CRDMO integrated business model: on one hand, the proportion of late-stage and commercial projects continued to increase, and early-stage business achieved both volume and price increases, directly driving improvement in overall gross margin; on the other hand, economies of scale under lean management continued to emerge, operating efficiency steadily improved, and together these pushed profit growth significantly higher than revenue growth. This is the fourth time in 16 months that WuXi AppTec has raised its full-year operating target. Previously, on August 3, the company announced a comprehensive upward revision of its 2026 performance guidance, expecting overall revenue to be raised from 51.3 billion yuan to 53 billion yuan up to 58.5 billion yuan to 60.5 billion yuan, and the year-on-year growth rate of continuing operations revenue to be raised from 18% to 22% up to 35% to 39%. Since the beginning of this year, WuXi AppTec's backlog has successively broken through the 60 billion and 70 billion yuan thresholds, continuously setting new records. As of the end of September 2026, its backlog for continuing operations climbed to 76.74 billion yuan, up 36.4% year-on-year.
On the same day, Hanyu Pharmaceutical announced that its third-quarter operating revenue was 554 million yuan, up 314.48% year-on-year; net profit attributable to shareholders of the listed company was 200 million yuan, up 369.76% year-on-year. For the first three quarters, operating revenue was 1.242 billion yuan, up 81.87% year-on-year; net profit attributable to shareholders of the listed company was 437 million yuan, up 511.96% year-on-year. The revenue growth was due to increased sales of the company's active pharmaceutical ingredients.
In recent years, the global CXO industry as a whole has shown a trend of steady expansion. A JPMorgan report shows that in the first three quarters of 2026, disclosed global biomedical R&D licensing deals amounted to 221.1 billion US dollars, already reaching 80% of the record level for the full year of 2025; biomedical M&A upfront payments and equity considerations totaled 138.9 billion US dollars, already exceeding the full year of 2025. PharmaCube data shows that in the first three quarters of 2026, the total amount of China's pharmaceutical overseas expansion transactions reached 131.3 billion US dollars, close to the full-year 2025 total transaction amount of 135.7 billion US dollars. Guojin Securities stated that against the background of core product patents expiring for multinational pharmaceutical companies and continuous release of pipeline replenishment demand, it remains bullish on the trend of innovative drugs going overseas, and recommends paying attention to active BD tracks such as bispecific antibodies, ADCs, and small nucleic acids, as well as innovative drug companies with密集 clinical data catalysts and continuous progress in overseas cooperation. Innovative drug companies are about to reach a turning point of performance turnaround, full-year clinical data catalysts are密集, and coupled with smooth overseas clinical progress of outbound pipelines, the sector's investment opportunities are clear.
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WuXi AppTec (02359): WuXi AppTec announced that its third-quarter operating revenue was 16.640 billion yuan, up 38.01% year-on-year; net profit attributable to shareholders of the listed company was 8.318 billion yuan, up 136.67% year-on-year.
Asymchem (06821): Asymchem's 2026 third-quarter report showed that the company achieved operating revenue of approximately 5.395 billion yuan, up 16.52% year-on-year, and net profit attributable to shareholders of approximately 852 million yuan, up 6.49% year-on-year.
Pharmaron (03759): In the 2026 interim period, the company achieved operating revenue of 7.595 billion yuan, up 17.9% year-on-year; profit attributable to shareholders was 750 million yuan, up 7.0% year-on-year. Among this, in the second quarter it achieved operating revenue of 4.017 billion yuan and profit attributable to shareholders of 415 million yuan.
Wuxi Bio (02269): In the first half of 2026, the company achieved revenue of 11.787 billion yuan, up 18.4% year-on-year; gross profit of 5.448 billion yuan, up 28.1% year-on-year, with gross margin increasing by 3.5 percentage points to 46.2%; net profit of 2.440 billion yuan, up 4.3% year-on-year.
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