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HK Stocks | WuXi Biologics (02268) rises by over 4% again as global ADC demand continues to rise, with the company's first half revenue increasing by 68% year-on-year.
Pharmacyclics (02268) rose more than 4%, as of the time of drafting, up 4.12%, at HKD 20.7, with a trading volume of HKD 44.5142 million.
WuXi XDC Announces Strong Growth and Revised Caps
Citi: Maintains a "buy" rating on WuXi AppTec (02268), with a target price raised to HK$43.
Citi expects strong project momentum to continue supporting the growth of WuXi Biologics (02268), with revenue expected to increase by 60% and 42% year-on-year in the next two years.
[Brokerage Focus] Minsheng Securities maintains a "Recommended" rating on Union Medical (02268), stating that the in-hand orders and newly signed orders are rapidly increasing, and expects the performance to continue to grow strongly.
Jingu Finance News | Minsheng Securities issued a research report that Pharmaron Alliance (02268) achieved revenue of 1.665 billion yuan in the first half of the year, a year-on-year increase of 67.6%, gross profit of 0.535 billion yuan, a year-on-year increase of 133.4%, net income of 0.488 billion yuan, a year-on-year increase of 175.5%, adjusted net income of 0.534 billion yuan, a year-on-year increase of 146.6%, and the performance exceeded expectations. The bank stated that as of the first half of 2024, the company's backlog orders amounted to 0.842 billion US dollars, a year-on-year increase of 105.0%, and the growth rate of new orders in 24H1 was similar to the growth rate of backlog orders; the accumulated service customers reached 419.
[Brokerage Focus] Bocom Intl raises target price for Pharmaron-Medlink (02268) by 4.8%, indicating better-than-expected first-half performance.
JW Financial Information: Bocom Intl has issued a research report stating that In 1H24, Innovent Biologics (02268) achieved a year-on-year increase of +68% in revenue and a year-on-year increase of +147% in adjusted net income, reaching 1.67 billion/0.53 billion yuan (RMB), far exceeding market expectations. The bank believes that despite the challenges posed by external factors in the industry, it is bullish on the high prosperity of the ADC sub-segment, the long-term moat established by the company through its comprehensive one-stop service platform, and the high growth certainty in performance brought by the rapid increase in orders. Based on the better-than-expected performance in 1H24 and the visibility of medium-term and short-term performance, the bank has raised the company's revenue forecast for 2024-2026.
Nomura Adjusts WuXi XDC Cayman's Price Target to HK$34.11 From HK$28.91, Keeps at Buy
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SoundOfMusic : The partial list shown looks to be ranked.
if so, Xpeng is ranked #10 out of 50 in the Fortune Top 50 Tech in China. It doesn't surprise me.