WUXI APPTEC (02359.HK) +1.350 (+4.696%) Short selling $8.86M; Ratio 7.301% saw revenue fall 9% YoY, EBITDA drop 9% YoY, and net profit sink 20% YoY in 1H24, according to a research report by Jefferies. Sales of its US business shed 1% YoY, while sales of the top 20 drugs added 12% YoY.
New R&D and manufacturing site construction commenced in May 2024 in Singapore. The company maintained its revenue guidance for 2024 at RMB38.3-40.5 billion, adjusted NM flat after considering the new capacity and FX impact, FCF of RMB4-5 billion, and capex of RMB5 billion.
Related NewsBOCI: WUXI APPTEC (02359.HK) 1H24 Results in Line, Order Book on Hand Beats
The broker maintained its Buy rating on the company, and its target price was lowered from $128 to $97.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-29 16:25.)
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