Goldman Sachs Maintains Buy Rating on WUXI APPTEC with HK$144.6 Target, Citing On-Track 2026 Guidance

Stock News03-24

Goldman Sachs issued a research report indicating that WUXI APPTEC (02359) reported a 36.6% year-on-year increase in non-IFRS adjusted net profit for the fourth quarter of 2025. Management guided for 2026 revenue between RMB 51.3 billion and RMB 53.0 billion, representing growth of 12.9% to 16.6%, which is largely in line with expectations. The firm maintained its H-share target price of HK$144.6 and a "Buy" rating. Goldman expects investors to focus on the quality and composition of the order backlog, the acceleration of TIDES business order backlog, and the sustainability of profit margins amid new capacity releases and currency headwinds. The bank believes margin stability remains largely intact, supported by increased revenue contribution from higher-margin TIDES business and reduced contribution from discontinued lower-margin operations.

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