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2026-11-02 14:28:39 HSBC Global Investment Research issued a research report stating that WUXI APPTEC (02359.HK)'s third-quarter revenue and adjusted net profit rose 38% YoY and 61.3% YoY respectively, beating the broker's and market expectations for the third consecutive quarter. The company also raised its full-year revenue growth guidance for continuing operations from 35%-39% to 40%-42%, while its capital expenditure plan was increased from RMB7.5 billion-RMB8.5 billion to RMB8 billion-RMB8.5 billion. The broker lifted its adjusted net profit forecasts for WUXI APPTEC for 2026-2028 by 2%-7%, mainly reflecting a 2%-7% upward revision in revenue forecasts, driven by 54% YoY growth in the small molecule CDMO business in the third quarter, a steady recovery in the early-stage testing and biology business supported by improving biotech financing and AIDD demand, as well as a roughly 36% YoY increase in backlog orders to RMB76.7 billion. The broker maintained its Buy rating on APPTEC (603259.SH) A shares and WUXI APPTEC (02359.HK) H shares, and raised the A-share TP from RMB182.5 to RMB185 and the H-share TP from HKD220.5 to HKD225.9. It also prefers the more attractively valued A shares.(ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |