SHANGHAI,March 5, 2018/PRNewswire/ — WuXi Biologics (Stock Code: 2269.HK),a leading global open-access biologics technology platform company that offers end-to-end solutions for biologics discovery, development and manufacturing, announced that based on the preliminary assessment of the unaudited consolidated management accounts of the Company for the year endedDecember 31, 2017, the Company is expected to record an increase of approximately 75% to 80% in its net profit fromRMB141 millionfor the year endedDecember 31, 2016to an amount of approximatelyRMB247 milliontoRMB254 millionfor the year endedDecember 31, 2017.
During the Reporting Period, the Company incurred an unrealized foreign exchange loss due to a translation loss from the IPO proceeds (in U.S. Dollar) to Renminbi as a result of Renminbi appreciation against the U.S. Dollar. If the unrealized foreign exchange loss is excluded, the Company's net profit for the year endedDecember 31, 2017is expected to be approximatelyRMB321 milliontoRMB328 million, representing a year-on-year growth of approximately 128% to 133%. Suchanincrease was primarily attributable to a strong growth in revenue driven by implementing the Company's "follow-the-molecule"strategy, andefficiency enhancement of the Company's business operation.
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