Hong Kong stock exchange filings revealed that on July 15, a major shareholder of WuXi AppTec (02359.HK) transferred holdings valued at HK$1.051 billion from Hongkong and Shanghai Banking Corporation Limited to Citibank. This transaction represented 3.08% of the company's issued shares. Concurrently, Goldman Sachs revised its financial projections for the pharmaceutical giant, lifting the 2024 revenue forecast by 2.3% to RMB44 billion. This adjustment primarily reflects stronger-than-expected growth in WuXi AppTec's TIDES business segment. The investment bank also upgraded its earnings per share estimates for 2025 through 2027, boosting projections by 3.8%, 4%, and 3.5% respectively. Goldman consequently raised its H-share target price from HK$74.9 to HK$85.5.
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