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WuXi Biologics (Cayman) Inc

02269: XHKG (HKG)

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Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 57.20	Pxhkl	Rfnwhjmkq

WuXi Biologics: Media Reports of Early Interim Results Guidance Triggers Selloff; FVE Unchanged

Jun 21, 2023

On June 20, no-moat-rated WuXi Biologics held an investor conference. According to media reports, management said that interim revenue growth will likely be in the low teens year on year and net profit growth will be flat. The number of new projects added this year by May is only 25, compared with 56 for the first half of last year. At the same time, management maintained its previous full-year guidance of 30% growth for total revenue and 60% growth for non-COVID-19 revenue. The market reacted poorly to this news, and shares sold off 17% by the end of the day, prompting WuXi to hold a conference call the following morning to answer follow-up questions.

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