Shares of Wuxi Apptec (02359) rose more than 3% in Hong Kong trading.

At the time of writing, the stock was up 3.42% to HK$120.8, with a turnover of HK$1.049 billion.

The move follows the company's overnight announcement of a plan to repurchase up to RMB 1 billion worth of its A-shares using its own funds.

The buyback will be conducted through centralized bidding at a price not exceeding RMB 156.95 per share.

The repurchased shares are intended for an employee stock ownership plan and must be completed within 12 months of board approval.

Since its 2018 listing, the company has returned nearly RMB 25 billion to investors through a combination of cash dividends and share repurchases.

This initiative comes shortly after the firm executed a record cash dividend exceeding RMB 4.7 billion in late May and concurrently launched an H-share reward trust plan valued at HK$2.5 billion.

Analysts at JPMorgan maintain a positive view on Wuxi Apptec's fundamentals.

This optimism stems from moderate competition in the small-molecule CRDMO sector, the company's ongoing capacity expansion, the benefits of its diversified business segments tapping into growth across different fields, and robust demand for GLP-1 therapies driving strong growth at its WuXi TIDES platform.

The bank believes market concerns regarding uncertainties from U.S. tariffs have been largely priced in.

Consequently, JPMorgan has reiterated its "Overweight" rating on the stock, with a Hong Kong share price target of HK$172.