Executive Summary
WuXi XDC Cayman Inc reported a standout QQ2 2025 quarter with notable top-line acceleration and meaningful margin expansion. Revenue for the quarter stood at 1,350,434,500 CNY, up 224.39% year-over-year and 100.00% quarter-over-quarter, accompanied by a gross profit of 487,623,500 CNY and a gross margin of 36.11%. EBITDA reached 418,057,000 CNY, while net income was 372,850,500 CNY, yielding a net margin of 27.61% and an EPS of 0.31 (diluted 0.28). These results reflect stronger demand for the company’s contract research, development and manufacturing organization (CDMO) capabilities, particularly in antibody drug conjugates and related bioconjugates, and improved operating leverage as scale increases.
Key Performance Indicators
QoQ: 100.00% | YoY:224.39%
QoQ: 100.00% | YoY:264.35%
QoQ: 100.00% | YoY:298.29%
QoQ: 100.00% | YoY:205.47%
QoQ: 100.00% | YoY:226.32%
Key Insights
Revenue: 1,350,434,500 CNY in QQ2 2025; YoY growth 224.39% and QoQ growth 100.00%. Gross Profit: 487,623,500 CNY; Gross Margin: 36.11%. Operating Income: 383,464,500 CNY; Operating Margin: 28.40%. EBITDA: 418,057,000 CNY; EBITDA Margin: 30.96%. Net Income: 372,850,500 CNY; Net Margin: 27.61%. EPS: 0.31; Diluted EPS: 0.28. D&A: 34,592,500 CNY. R&D: 24,741,500 CNY; SG&A: 79,417,500 CNY (incl. SG&A and selling, general & administrative). Current Ratio: 2.20; Quick Ratio: 2.14; C...
Financial Highlights
Revenue: 1,350,434,500 CNY in QQ2 2025; YoY growth 224.39% and QoQ growth 100.00%. Gross Profit: 487,623,500 CNY; Gross Margin: 36.11%. Operating Income: 383,464,500 CNY; Operating Margin: 28.40%. EBITDA: 418,057,000 CNY; EBITDA Margin: 30.96%. Net Income: 372,850,500 CNY; Net Margin: 27.61%. EPS: 0.31; Diluted EPS: 0.28. D&A: 34,592,500 CNY. R&D: 24,741,500 CNY; SG&A: 79,417,500 CNY (incl. SG&A and selling, general & administrative). Current Ratio: 2.20; Quick Ratio: 2.14; Cash Ratio: 0.31. Debt Ratio: 9.78%; Debt-to-Equity: 14.0%; Total Debt-to-Capitalization: 12.2%. Receivables Turnover: 1.49x; Inventory Turnover: 9.47x; CCC: 12.88 days. Cash per Share: 2.93 CNY. Price-to-Book: 6.67x; Price-to-Sales: 18.38x; P/E: 16.64x. CFO per Share: 0.46; Free Cash Flow per Share: -0.0446. Revenue mix and margins imply improving scale with disciplined cost control, though free cash flow remains negative driven by capital and working-capital needs.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.35B |
224.39% |
100.00% |
| Gross Profit |
487.62M |
264.35% |
100.00% |
| Operating Income |
383.46M |
298.29% |
100.00% |
| Net Income |
372.85M |
205.47% |
100.00% |
| EPS |
0.31 |
226.32% |
100.00% |
Key Financial Ratios
operatingProfitMargin
28.4%
operatingCashFlowPerShare
$0.46
freeCashFlowPerShare
$-0.04
Management Commentary
No earnings call transcript was provided in the dataset. Consequently, there are no management quotes or theme summaries to attach to this QQ2 2025 analysis. If a transcript becomes available, we will extract themes by cadence (strategy, operations, market conditions) and include context-specific quotes with attributions.
Forward Guidance
No explicit forward guidance was disclosed in the supplied data. Given the QQ2 2025 performance and the broader healthcare diagnostics CDMO tailwinds (e.g., antibody drug conjugates and bioconjugation platforms), management would likely focus on sustaining top-line momentum, expanding capacity, and closing on new CDMO contracts. Our assessment of achievability hinges on pipeline execution, validation/regulatory timelines, and continued demand for specialized biologics manufacturing. Investors should monitor order intake, utilization rates, capacity expansion plans, and potential cost pressures from R&D investments and inflation in key input costs.