WuXi AppTec announces governance, capital, and related party transaction updates

WuXi AppTec will increase its registered capital from RMB2,887,992,582 to RMB2,951,506,736, following a mix of share repurchases and new H-share issuances. This change necessitates revisions to the company’s Articles of Association and a proposal to abolish the Board of Supervisors, with its functions transferred to the Board Audit Committee. These proposals, along with updated governance policies, are set for approval at the Second Extraordinary General Meeting of 2025 on September 23.

In a separate but related development, WuXi AppTec is transferring 98.9% of Shanghai WuXi AppTec Co., Ltd. shares from Shanghai WuXi AppTec Co., Ltd. to WuXi AppTec (Shanghai) Pharmaceutical R&D Co., Ltd. This internal equity transfer is expected to optimize organizational structure without impacting consolidated financials or the subsidiary's operations.

Additionally, the company is updating its framework for continuing connected transactions with WuXi XDC Cayman Inc. The revised agreement forecasts transaction amounts for 2025, 2026, 2027, and 2028, with the 2025 estimate increasing from RMB168m to RMB200m. These transactions are for contract research, development, and manufacturing services.