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Hong Kong stock market fluctuations | CXO concept stocks continue to rise in early trading. The Biosecurity Law is still waiting for the Senate to vote. Citigroup said that the stock price of the Chinese pharmaceutical company has been undervalued.
CXO concept stocks continued to rise in the morning session. As of the time of writing, Wuxi Bio (02269) rose 4.6% to HK$11.82; Wuxi Apptec (02359) rose 4.51% to HK$35.95; Pharmaron (03759) rose 3.84% to HK$9.73; Asymchem Laboratories (06821) rose 3.84% to HK$41.95.
[Hong Kong Stock Connect] WuXi Bio (02269) rose 4.42% at the opening, institutions point out that its order backlog remains high, and the global production capacity layout is gradually improving.
Jinwu Finance News | Wuxi Bio (02269) rose at the beginning of the trading session and as of the time of writing, it has increased by 4.42%, to HKD 11.8, with a turnover of HKD 0.184 billion. Guosen Securities stated that all technology platforms of the company achieved significant progress in the first half of 2024. The 'Follow and Win the Molecule' global strategy continues to advance, with a high level of order backlog, maintaining profit forecasts for 2024-2026. The net income attributable to the parent company is expected to be RMB 3.823/4.483/5.321 billion, with a year-on-year growth rate of 12.4%/17.3%/18.7% for 2024-2026. The company's global production capacity layout is gradually improving, providing a solid foundation for future development.
wuxi bio spent 59.893 million Hong Kong dollars on September 11 to repurchase 5.38 million shares.
On September 11th, Wuxi Bio (02269.HK) announced that it repurchased 5.38 million shares at a cost of 59.893 million Hong Kong dollars.
Hong Kong stocks rebounded collectively with the CRO concept stocks, WuXi AppTec announced another 1 billion yuan buyback. The Biosafety Law is still awaiting a vote in the Senate.
CRO concept stocks rebounded collectively. As of the time of writing, Pharmaron (03759) rose by 4.57%, at HKD 9.38; WuXi AppTec (02359) rose by 4.04%, at HKD 33.5; Frontage Holdings (01521) rose by 3.57%, at HKD 0.58.
Contract research organizations are generally declining. Wuxi Apptec (02359) fell 9.74%. The uncertainty of the Biosecurity Law Bill weakened investor confidence.
Jinwu Finance News | The concept of contract research organizations is generally trending downward. Wuxi Apptec (02359) fell 9.74%, Frontage (01521) fell 5.36%, Tigermed (03347) fell 4.57%, Wuxi Bio (02269) fell 3.7%, and Pharmaron (03759) fell 3.13%. Citigroup has released a report stating that the U.S. House of Representatives has passed the Biosecurity Bill, but it is currently unknown whether the Senate will adopt the House version of the bill, or consider another version, or even incorporate the Biosecurity Bill into a larger comprehensive bill. Nevertheless, Citigroup believes that
WuXi Biologics (Cayman) May Face US Sanctions as House Approves Bill; Stocks Slide 4%
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