Movement Alert｜WuXi XDC Falls 3.73% in Regular Trading, Intensive Buybacks Fail to Stem Selling Pressure as WuXi Group Under Broad Decline

Market Focus06-08 10:10

On June 8, WuXi XDC fell 3.73% in regular trading, trading at 48.26 HKD/share, with trading volume of 79.59 million HKD. The stock has now fallen more than 15% below the average buyback price of 57.3 HKD disclosed earlier.

On the news front, despite the company's intensive share repurchase program — with its professional trustee purchasing 5.702 million shares at an average price of 57.3 HKD between May 19 and 29, totaling approximately 327 million HKD — selling pressure has continued unabated. The parent company WuXi Biologics also has a buyback plan of up to 400 million USD, bringing the combined WuXi group repurchase scale to approximately 500 million USD. Additionally, the company proposed at its upcoming AGM on June 26 to authorize buybacks of up to 10% of issued share capital.

Despite these measures, the entire WuXi ecosystem faced broad-based weakness today, with WuXi Biologics down 5.31%, WuXi AppTec down 3.21%, and GenScript Biotech down 4.64%, reflecting persistent market concerns weighing on the Life Sciences Tools and Services sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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