On August 11, WUXI APPTEC rose 3.03% in regular trading, trading at 203.4 HKD/share with turnover of 531 million HKD, extending its recent rally to fresh all-time highs.
On the news front, the company previously announced that the US District Court for the District of Columbia approved its preliminary injunction motion on August 7, prohibiting the US Department of Defense from executing or implementing its 1260H designation against the company, or taking any other measures based on that designation, during judicial proceedings. Morgan Stanley noted this injunction effectively removes the overhang of the 1260H list uncertainty. CITIC International maintains a Buy rating with a target price of 216 HKD. The ruling follows a lawsuit filed on June 11 and an injunction application submitted on June 29.
Additionally, FMR LLC recently increased its holdings by approximately 1.19 million shares at around 180.74 HKD per share. The company's interim results showed first-half revenue of 28.9 billion RMB, up 38.93% year-over-year, with adjusted net profit of 11.57 billion RMB, surging 83.2%.
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