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Research reports | China Securities Co.,Ltd.: Wuxi Apptec's performance is expected to continue to improve month-on-month, maintaining a "buy" rating
CSC's research reports pointed out that Wuxi Apptec (603259.SH) continues to strengthen its integrated CRDMO business model, with revenue growth excluding new crown commercial projects in the first three quarters year-on-year, maintaining stable operation, and a steady improvement in performance in 24Q3. The company's outstanding orders continue to grow rapidly, reflecting strong customer demand. The chemical business accelerated its growth in 24Q3 excluding new crown projects, with continuous capacity expansion of TIDES supporting business growth. It is expected that with the continuous recovery of domestic and foreign research and development demand, early business is expected to gradually recover. The chemical business will continue to maintain stable growth, with rapid expansion expected in the new molecular business segment; 24.
Wuxi Apptec (603259): Q3 24 performance steadily improved compared to the previous quarter, with continuous rapid growth in the order backlog.
In the first three quarters of 2024, the company's integrated CRDMO business model continued to strengthen. Excluding revenue from new crown commercial projects, year-on-year growth was maintained, ensuring stable operation and steady improvement in performance in Q3 24.
JPMorgan increased its shareholding of Wuxi AppTec (02359) by approximately 0.8918 million shares at a price of approximately HK$51.53 per share.
On November 4th, jpmorgan increased its shareholding in wuxi apptec (02359) by 0.891826 million shares, with a price of 51.5268 Hong Kong dollars per share, totaling approximately 45.9529 million Hong Kong dollars.
Wuxi AppTec received a shareholding of 0.8918 million H shares from JPMorgan, worth approximately 45.9529 million Hong Kong dollars.
On November 7, according to documents disclosed by the Hong Kong Stock Exchange on November 7, JPMorgan Chase & Co. increased its shareholding in Wuxi Apptec (02359.HK) by an average on-exchange price of HK$51.5268 per share and an average off-exchange price of HK$51.5238 per share, totaling $0.8918 million H shares, with a value of approximately HK$45.9529 million. After the increase, JPMorgan Chase's latest shareholding number is 35.0265 million shares, and the shareholding ratio has increased from 8.81% to 9.04%. Image Source: Stock Exchange Equity Disclosure What.
Wuxi Apptec (603259): Overall performance gradually recovering, TIDES business maintaining high-speed growth.
Event: In the first three quarters of 2024, WuXi AppTec achieved revenue of 27.702 billion yuan, a year-on-year decrease of 6.23%; net income attributable to shareholders was 6.533 billion yuan, a year-on-year decrease of 19.11%. Among them, in 2024 Q3, revenue was realized.
Hong Kong stocks abnormal movement | wuxi apptec (02359) now up nearly 5%. Third-quarter revenue returned to over ten billion, while orders in hand increased by over 35% year-on-year.
Wuxi Apptec (02359) is now up nearly 5%, as of the time of publication, up 4.81%, trading at 56.5 Hong Kong dollars, with a trading volume of 0.205 billion Hong Kong dollars.
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