On June 16, WuXi Biologics (02269.HK) declined 3.04% in regular trading, trading at HK$30.06/share, with turnover of HK$210 million.

The decline comes amid continued pressure on the WuXi family of companies after affiliate WuXi AppTec was formally listed on the US Department of Defense's 1260H \"Chinese Military Companies\" list on June 8. WuXi AppTec, whose US market revenue accounts for over 70% of total revenue, has since filed a lawsuit against the US DoD on June 11, requesting the court declare the designation invalid and remove the company from the list. WuXi AppTec maintains it has no military affiliations, does not serve the Chinese military, and has no connection to defense-industrial or military-civil fusion programs.

The broader Life Sciences Tools and Services sector is under broad selling pressure, with WuXi XDC down 3.35%, Genscript Bio down 2.97%, XtalPi down 3.45%, and Insilico down 4.69%. WuXi Biologics had been conducting share buybacks in recent sessions, repurchasing HK$99.82 million worth of shares on June 11 and HK$74.88 million on June 9.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)