Wuxi AppTec Defies Market Downturn to Hit Record Intraday High

Deep News16:30

On October 7, WUXI APPTEC (02359.HK) saw its Hong Kong-listed shares surge in afternoon trading to touch HK$219.2 per share, marking a record intraday high, with total market capitalization reaching HK$665.251 billion.

On that day, the broader Hong Kong stock market came under pressure, with the Hang Seng Index closing down 0.62%, and most stocks in the pharmaceutical and biotech sector declining.

In the first half of this year, Wuxi AppTec Co.,Ltd. (603259) reported operating revenue of RMB 28.897 billion, up 38.94% year-on-year, and net profit attributable to shareholders of RMB 11.08 billion, up 29.43% year-on-year.

A research report from Shenwan Hongyuan pointed out that growing demand for new molecules such as peptides and oligonucleotides, the expansion of the TIDES business driven by GLP-1 volume growth, and the strengthening of competitive advantages through process accumulation and capacity deployment are expected to support the company's medium- to long-term performance growth.

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