WuXi AppTec Shares Jump After Proposed Special Dividend, Share Buyback

Dow Jones03-18

By Amanda Lee

Shares in WuXi AppTec rose sharply after the Chinese biotechnology company proposed a special dividend and share buyback following weaker annual results.

The company's shares in Hong Kong climbed as much as 16% in early Tuesday trading before paring gains to about 11%. Its Shanghai-listed stock was recently 9.7% higher.

The company said late Monday that its board proposed a 2025 special dividend distribution of 3.50 yuan for every 10 shares held. It said the dividend is a way to show appreciation for shareholders' support of the company's "strategic adjustments in challenging times."

The special dividend, subject to shareholders' approval at the coming annual general meeting, is expected to be paid by June 30.

WuXi AppTec also said it plans to repurchase about 1 billion yuan, equivalent to $138.3 million, of A shares through bidding in 2025.

The moves came as the company posted a 12.5% drop in net profit to 9.35 billion yuan last year, weighed by higher impairment losses and finance costs. Revenue slipped 2.7% to 39.24 billion yuan.

For 2025, the company said it expects revenue from continuing operations to resume double-digit growth of 10%-15%, targeting total revenue of 41.5 billion yuan to 43.0 billion yuan.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

March 17, 2025 23:37 ET (03:37 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Its Shanghai-listed stock was recently 9.7% higher. \n\n\n  The company said late Monday that its board proposed a 2025 special dividend distribution of 3.50 yuan for every 10 shares held. It said the dividend is a way to show appreciation for shareholders' support of the company's \"strategic adjustments in challenging times.\" \n\n\n  The special dividend, subject to shareholders' approval at the coming annual general meeting, is expected to be paid by June 30. \n\n\n  WuXi AppTec also said it plans to repurchase about 1 billion yuan, equivalent to $138.3 million, of A shares through bidding in 2025. \n\n\n  The moves came as the company posted a 12.5% drop in net profit to 9.35 billion yuan last year, weighed by higher impairment losses and finance costs. 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