WuXi Biologics' Profit Slides 1.3% in 2024

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WuXi Biologics' Profit Slides 1.3% in 2024

MT Newswires Live03-25

WuXi Biologics (Cayman) (HKG:2269) recorded a 1.3% decline in attributable profit for the year 2024 to 3.36 billion yuan from 3.4 billion yuan in the year-ago period, a Tuesday filing with the Hong Kong bourse said.

Earnings per share were 0.78 yuan in the year, up from 0.77 yuan in the previous corresponding year.

The vaccine maker's revenue rose by 9.6% to 18.7 billion yuan in the year from 17 billion yuan a year prior.

The higher revenue was mainly due to the successful execution of the company's "Follow and Win the Molecule" strategies, an enlarged spectrum of services offered to the biologics industry, growth of research services revenue, and the utilization of existing and newly expanded capacities.

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