On September 21, WUXI BIO rose 3.28% in regular trading, trading at HK$52.05/share, with turnover of HK$208 million. The rally was primarily driven by the company's cancellation of approximately 39.82 million repurchased shares and continued strength across the CXO sector.

The company announced on September 18 the cancellation of 39,824,500 previously repurchased shares, representing approximately 0.96% of total issued share capital, with a total buyback cost of around HK$1.272 billion at an average price of HK$31.93 per share. The cancellation reduces the company's outstanding share count, effectively enhancing per-share earnings and book value for remaining shareholders.

On the industry front, ten government departments jointly released the Medical Industry Development Plan for the 15th Five-Year Period, setting the goal for biomedicine R&D to rank among the world's top tier by 2030. The global pharmaceutical R&D outsourcing rate has surpassed 50%, underpinning robust demand for CRDMO services. The broader CXO sector rallied in tandem, with GENSCRIPT BIO up 2.75% and WUXI APPTEC up 2.30%.

Fundamentally, WUXI BIO reported H1 revenue of RMB 11.787 billion, up 18.4% year-over-year, with adjusted net profit growing 38.4%. The company raised its full-year revenue growth guidance to 15%-18%, supported by an unfilled order backlog of approximately US$5.5 billion, up around 30% year-over-year. Multiple brokerages including CICC, CMBI, Daiwa, and Morgan Stanley recently raised their target prices, with consensus targets ranging from HK$57 to HK$66.

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