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BofAS Drops TP for WUXI BIO (02269.HK) to HKD39.5, Rating Neutral
2026-03-26 12:02:04
BofA Securities released a research report on WUXI BIO (02269.HK), which saw its revenue ascend by 16.7% YoY to RMB21.8 billion in 2025, in line. The gross profit reached RMB10 billion, with the GPM up by 5 ppts to 46%, on the back of more contribution from royalty/ milestones with higher margins and enhanced capacity utilization. The net profit attributable to shareholders was RMB4.9 billion, up 46.3% from the same period last year.

The broker revised down its revenue forecast for 2026-28 by 4-8% and lowered the GPM by 0.4 ppts. The target price was chopped from HKD47 to HKD39.5, with a Neutral rating.
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