(Yicai) July 29 -- WuXi AppTec’s shares soared after the provider of pharmaceutical research and development services posted better‑than‑expected first-half results and raised its full‑year outlook, mainly thanks to revenue growth in its peptide and small‑molecule businesses, including glucagon-like peptide-1 agonists used for weight loss.

WuXi AppTec [SHA: 603259] closed 7.7 percent higher at CNY98.69 (USD13.80) a share in Shanghai today, bringing this year’s gain to 86 percent so far. Its Hong Kong-listed shares [HKG: 2359] climbed 11.3 percent to HKD111.70 (USD14.20), and have more than doubled in value year to date.

Net profit more than doubled from a year ago to CNY8.6 billion (USD1.2 billion) in the six months ended June 30, the Shanghai-based firm’s earnings report showed yesterday. Revenue climbed 21 percent to CNY20.8 billion (USD2.9 billion).

The company also raised its projected revenue for the year to between CNY42.5 billion and CNY43.5 billion (USD5.9 billion and USD6.1 billion), implying an annual increase of 13 percent to 17 percent, up from its previous forecast of a 10 percent to 15 percent gain.

WuXi AppTec’s first-half earnings were mainly driven by profit growth from late‑stage clinical and commercial projects, company executives said on a conference call today. They noted that US tariff threats did not lead customers to front-load orders.

Revenue from the chemicals business grew 34 percent to CNY16.3 billion. Within this segment, oligonucleotide and peptide sales more than doubled to CNY5 billion, while income from small molecule process development and manufacturing rose 18 percent to CNY8.7 billion.

The peptide business includes GLP-1 drugs, which help lower blood sugar and support weight loss. Key examples include Novo Nordisk’s semaglutide and Eli Lilly’s tirzepatide.

GLP-1 drugs are widely seen as a transformative treatment, and their vast market potential is now the industry consensus, WuXi AppTec said. The company’s outsourcing model allows it to contribute to the early R&D and production stages of breakthrough medicines, it added.

Other business segments posted mixed results. Testing services revenue edged down 1 percent to CNY2.7 billion, while biological services revenue rose 7 percent to CNY1.3 billion.

The United States remained WuXi AppTec’s largest and fastest-growing market. Revenue from American clients jumped 38 percent to CNY14 billion, while that from European clients rose 9 percent to CNY2.3 billion. Sales to Chinese clients fell 5 percent to CNY3.2 billion, and revenue from other regions increased 8 percent to CNY900 million (USD125 million).

The company also announced an interim dividend of CNY3.50 (US 50 cents) per 10 shares, for a total payout of about CNY1 billion.

Editors: Dou Shicong, Emmi Laine