Tiger Brokers

BUZZ-WuXi Biologics rises most in 3 weeks on robust first-half results

Reuters
Aug 20
BUZZ-WuXi Biologics rises most in 3 weeks on robust first-half results

** Shares of WuXi Biologics (Cayman) Inc 2269.HK rise 4.4% to HK$31.08, the biggest intraday pct gain since July 29

** Stock is the fourth-biggest pct gainer on Hong Kong's healthcare index .HSCIH, which is down 1.5%

** The contract research, development and manufacturing organization (CRDMO) services provider says its H1 net profit jumped 56% y/y, revenue up 16.1% y/y and gross profit margin rose to 42.7% from 39.1% in the year-ago period

** Nomura keeps "buy" rating, says 1H25 earnings beat and FY25E revenue outlook lifted

** "By geography, in 1H25, sales from North America-based clients continued to increase, reflecting limited impact from geopolitical frictions," Nomura says

** Hang Seng Biotech Index .HSHKBIO falls 1.3%, the benchmark Hang Seng Index .HSI slips 0.5%

** YTD, stock up 73.9%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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