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02268
WUXI XDC
HKD
63.4001.250
(2.01%)
1D
AI Analysis for 02268
AI Analysis
High
63.800
Open
61.550
VWAP
62.68
Vol
3.38M
Mkt Cap
85.34B
Low
60.300
Amount
211.64M
EV/EBITDA(TTM)
46.36
Total Shares
1.25B
EV
9.52B
EV/OCF(TTM)
43.08
P/S(TTM)
14.54
WuXi XDC Cayman Inc is an investment holding company principally engaged in the provision of comprehensive contract research, development and manufacturing organization (CRDMO) services for antibody drug conjugate (ADC) and other bioconjugates. The Company's services include the discovery, process development and Good Manufacturing Practice (GMP) manufacturing for bioconjugates, monoclonal antibody intermediates and payload-linkers associated with bioconjugates. The Company provides CRDMO services to customers through contracts under fee-for-service (FFS) basis and contracts under full-time equivalent (FTE) basis. The Company principally conducts its businesses in domestic and overseas markets, including North America, Europe and the rest of the world.
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News
4.5
01-20aastocksHSI Declines 11 Points at Midday; POP MART Soars Over 8%; Consumer Stocks Rise Against Market Trends
Market Performance: The HSI closed down 11 points at 26,552, with the HSCEI and HSTECH also experiencing slight declines. Total market turnover for the half-day was HKD129.845 billion.
Tech Stock Movements: Major tech stocks like TENCENT and BIDU-SW fell by approximately 1.5%, while JD-SW and BILIBILI-W saw gains of around 1.1% and 1.2%, respectively.
Sector Highlights: Consumer stocks performed well, with POP MART surging 8.5% after announcing a share buyback, while pharmaceutical stocks like HENGRUI PHARMA and WUXI APPTEC faced significant declines.
Economic Indicators: China's Fixed Asset Investment for December showed a year-on-year decrease of -3.8%, and the GDP growth rate for Q4 was reported at 4.5%, slightly below expectations.
4.0
01-20aastocks<Research>BOCOMI Increases WUXI XDC's Target Price to HKD91 Following Upgraded Earnings Projections
Positive Profit Forecast: WUXI XDC has projected a revenue increase of over 45% YoY for 2025, driven by rapid order growth and the commissioning of Wuxi DP3, alongside a gross profit surge of more than 70% due to improved capacity utilization and cost control.
Analyst Upgrades: BOCOMI has raised its net profit expectations for WUXI XDC for 2026-27 by 2-3%, along with increased earnings and capital expenditure forecasts, reflecting the company's aggressive capacity expansion plans.
Target Price Increase: Following its analysis, BOCOMI has raised WUXI XDC's target price to HKD91 and maintained a "Buy" rating, designating it as a top recommendation in the CXO industry.
Market Activity: As of the latest data, WUXI XDC has experienced significant short selling activity amounting to $38.33M, with a short selling ratio of 10.686%.
4.5
01-19aastocksHSI Declines 265 Points at Midday as Certain AI and Pharma Stocks Drop; Power Equipment Stocks Rise
Market Overview: The HSI fell 1% to 26,579, with the HSCEI down 0.9% and the HSTECH decreasing by 1.1%, resulting in a total half-day turnover of $132.94 billion.
AI Stocks Performance: XTALPI saw a gain of 3.4%, while KINGSOFT CLOUD, INSILICO, GDS-SW, and UNISOUND experienced declines ranging from 2.7% to 5.6%.
Power Equipment Stocks: DONGFANG ELEC and HARBIN ELECTRIC both rose significantly, with increases of 6.6% and 7.3%, respectively, despite the overall market trend.
Pharmaceutical Sector Decline: Several pharmaceutical stocks, including SINO BIOPHARM and 3SBIO, faced declines of 4.6% to 6.1%, with WUXI APPTEC also dropping by 2.8%.
8.5
01-19aastocksM Stanley Maintains Overweight Rating on WUXI XDC; Firm Suggests Acquisition Offer for BIODLINK-B
WUXI XDC Takeover Bid: WUXI XDC has proposed a takeover bid for BIODLINK-B, raising investor concerns about the rationale behind the move, as noted in a Morgan Stanley report.
Financial Comparison: In the first half of 2025, BIODLINK-B reported revenue of RMB489 million and earnings of RMB4 million, while WUXI XDC's figures were significantly higher at RMB2.701 billion in revenue and RMB746 million in earnings.
Market Ratings: Morgan Stanley has rated WUXI XDC as Overweight with a target price of HKD88, indicating a positive outlook for the company.
BIODLINK-B's Strategic Shift: Since the 2020s, BIODLINK-B has shifted its focus from oncology drugs to a CDMO model centered around Antibody-Drug Conjugates (ADC).
4.0
01-19aastocksCMBI Increases WUXI XDC's Target Price to HKD88, Maintains Buy Rating; Strong Earnings Growth Anticipated
Positive Profit Alert: WUXI XDC has issued a profit alert projecting a revenue growth of at least 45% and a net profit increase of over 38% for 2025, with adjusted net profit potentially rising over 45% excluding foreign exchange effects.
Target Price Increase: CMBI has raised its target price for WUXI XDC from HKD74 to HKD88 while maintaining a Buy rating, forecasting significant revenue and adjusted net profit growth through 2027.
Money Flow
Over the past 66 trading days, overall net money flow is 62.35M, with retail investors contributing -4.03M and major investors adding 81.78M.
Net Buy $ Volume
Net Sell $ Volume
BOCOMI
upgrade
$HKD91
2026-01-20
Reason
The analyst rating for WUXI XDC (02268.HK) is based on several positive factors highlighted in the article. The key reasons for the "Buy" rating include:
1. Positive Profit Forecast: WUXI XDC has issued a strong profit forecast for 2025, predicting a revenue increase of over 45% year-on-year due to rapid order growth and the commissioning of Wuxi DP3.
2. Significant Gross Profit Growth: The company anticipates a gross profit surge of more than 70%, driven by improvements in capacity utilization, production efficiency, and effective cost control.
3. Revised Net Profit Expectations: BOCOMI has increased its net profit expectations for WUXI XDC for 2026-27 by 2-3%, reflecting confidence in the company's performance.
4. Aggressive Capacity Expansion Plans: The company's plans for capacity expansion and the latest management guidance suggest a strong growth trajectory.
5. Increased Target Price: BOCOMI raised the target price for WUXI XDC to HKD91, indicating a positive outlook for the stock.
6. Top Recommendation: WUXI XDC has been selected as a top recommendation in the CXO industry, further supporting the positive rating.
Overall, the combination of strong revenue and profit forecasts, effective management strategies, and positive market sentiment contribute to the "Buy" rating.
BOCOMI
Price Target
$HKD91
2026-01-20
upgrade
The analyst rating for WUXI XDC (02268.HK) is based on several positive factors highlighted in the article. The key reasons for the "Buy" rating include:
1. Positive Profit Forecast: WUXI XDC has issued a strong profit forecast for 2025, predicting a revenue increase of over 45% year-on-year due to rapid order growth and the commissioning of Wuxi DP3.
2. Significant Gross Profit Growth: The company anticipates a gross profit surge of more than 70%, driven by improvements in capacity utilization, production efficiency, and effective cost control.
3. Revised Net Profit Expectations: BOCOMI has increased its net profit expectations for WUXI XDC for 2026-27 by 2-3%, reflecting confidence in the company's performance.
4. Aggressive Capacity Expansion Plans: The company's plans for capacity expansion and the latest management guidance suggest a strong growth trajectory.
5. Increased Target Price: BOCOMI raised the target price for WUXI XDC to HKD91, indicating a positive outlook for the stock.
6. Top Recommendation: WUXI XDC has been selected as a top recommendation in the CXO industry, further supporting the positive rating.
Overall, the combination of strong revenue and profit forecasts, effective management strategies, and positive market sentiment contribute to the "Buy" rating.
CMBI
CMBI
maintain
$74 -> $88
2026-01-19
Reason
The analyst rating for WUXI XDC (02268.HK) is a "Buy" due to a positive profit alert projecting significant growth in revenue and net profit for 2025. Specifically, the company anticipates at least a 45% increase in revenue and over a 38% rise in net profit year-over-year. Additionally, the adjusted net profit is expected to rise by over 45%, potentially exceeding 65% when excluding foreign exchange effects. CMBI has raised its target price from HKD74 to HKD88, reflecting confidence in the company's growth trajectory, with forecasts indicating continued revenue and profit increases through 2027.
CMBI
Price Target
$74 -> $88
2026-01-19
maintain
The analyst rating for WUXI XDC (02268.HK) is a "Buy" due to a positive profit alert projecting significant growth in revenue and net profit for 2025. Specifically, the company anticipates at least a 45% increase in revenue and over a 38% rise in net profit year-over-year. Additionally, the adjusted net profit is expected to rise by over 45%, potentially exceeding 65% when excluding foreign exchange effects. CMBI has raised its target price from HKD74 to HKD88, reflecting confidence in the company's growth trajectory, with forecasts indicating continued revenue and profit increases through 2027.
Nomura
Nomura
maintain
$82.72
2026-01-16
Reason
The analyst rating from Nomura is a Buy, but the reason for the cautious outlook is that they predict WUXI XDC's 2H25 results may fall short of market expectations. Specifically, they estimate that the company's sales revenue for 2H25 will grow by 33% YoY to RMB3.18 billion, which is below the market expectation of RMB3.33 billion and also lower than their previous estimate of RMB3.48 billion. Despite this, they still maintain a positive long-term outlook, as indicated by the positive profit alert issued by WUXI XDC forecasting significant year-over-year increases in revenue and profits.
Nomura
Price Target
$82.72
2026-01-16
maintain
The analyst rating from Nomura is a Buy, but the reason for the cautious outlook is that they predict WUXI XDC's 2H25 results may fall short of market expectations. Specifically, they estimate that the company's sales revenue for 2H25 will grow by 33% YoY to RMB3.18 billion, which is below the market expectation of RMB3.33 billion and also lower than their previous estimate of RMB3.48 billion. Despite this, they still maintain a positive long-term outlook, as indicated by the positive profit alert issued by WUXI XDC forecasting significant year-over-year increases in revenue and profits.
JPMorgan
JPMorgan
Overweight
maintain
{"WUXI_XDC": "$74", "WUXI_APPTEC": "$142", "WUXI_BIO": "$37"}
2025-12-05
Reason
The analyst rating for the stocks in China's CXO industry, including WUXI APPTEC, WUXI XDC, and WUXI BIO, is based on a few key factors highlighted in JPMorgan's research report. The recent strong rebound in these stocks is attributed to a relief from market concerns regarding potential legislative changes in the US, specifically the US Biosecure Act and the National Defense Authorization Act. Additionally, JPMorgan believes that the easing of geopolitical tensions between the US and China, particularly following a phone call between US President Donald Trump and Chinese President Xi Jinping, will positively impact the development of China's CXO industry. As a result, JPMorgan has rated these stocks as Overweight and set target prices for each.
JPMorgan
Overweight
Price Target
{"WUXI_XDC": "$74", "WUXI_APPTEC": "$142", "WUXI_BIO": "$37"}
2025-12-05
maintain
The analyst rating for the stocks in China's CXO industry, including WUXI APPTEC, WUXI XDC, and WUXI BIO, is based on a few key factors highlighted in JPMorgan's research report. The recent strong rebound in these stocks is attributed to a relief from market concerns regarding potential legislative changes in the US, specifically the US Biosecure Act and the National Defense Authorization Act. Additionally, JPMorgan believes that the easing of geopolitical tensions between the US and China, particularly following a phone call between US President Donald Trump and Chinese President Xi Jinping, will positively impact the development of China's CXO industry. As a result, JPMorgan has rated these stocks as Overweight and set target prices for each.
Goldman Sachs
Goldman Sachs
Neutral
maintain
$63.3
2025-11-05
Reason
The analyst rating for WUXI XDC was set at Neutral by Goldman Sachs due to several factors. While the company is experiencing strong order momentum and solid customer demand, particularly from US clients, there are concerns regarding the potential lower gross margin in the second half of 2025 compared to the first half. Additionally, although the company is actively negotiating contracts for its Singapore facility, the revenue contribution from this facility is expected to be limited before 2027 due to the time required for production capacity expansion. Despite ongoing output and workforce expansions, these factors contributed to the Neutral rating, with a target price set at $63.3.
Goldman Sachs
Neutral
Price Target
$63.3
2025-11-05
maintain
The analyst rating for WUXI XDC was set at Neutral by Goldman Sachs due to several factors. While the company is experiencing strong order momentum and solid customer demand, particularly from US clients, there are concerns regarding the potential lower gross margin in the second half of 2025 compared to the first half. Additionally, although the company is actively negotiating contracts for its Singapore facility, the revenue contribution from this facility is expected to be limited before 2027 due to the time required for production capacity expansion. Despite ongoing output and workforce expansions, these factors contributed to the Neutral rating, with a target price set at $63.3.
HSBC
HSBC Global Research
Buy
maintain
2025-10-15
Reason
The analyst rating from the HSBC Global Research report is based on the following reasons:
1. Short-term Market Fluctuations: The report acknowledges that the recently passed "Biosecure Act" may cause short-term fluctuations in the market, but it emphasizes an optimistic outlook for the long-term growth of China's Contract Development and Manufacturing Organization (CDMO) industry.
2. Risk Management Strategies: Companies in the sector can mitigate risks by diversifying their business regions, expanding their clientele outside the US, and avoiding direct contracts with biotechnology companies of concern.
3. Earnings Visibility: The earnings visibility of market leaders in the industry remains intact, suggesting that they are well-positioned to navigate the challenges posed by the Act.
4. Exemption Period: The Act includes a five-year exemption period for already signed contracts, indicating that the short-term operational impact will be limited.
5. Stock Preferences: The broker specifically recommends PHARMARON and WUXI XDC, both rated as Buy, with target prices set at HKD28.1 and HKD90 respectively, reflecting confidence in their performance despite the regulatory changes.
HSBC
Buy
Price Target
2025-10-15
maintain
The analyst rating from the HSBC Global Research report is based on the following reasons:
1. Short-term Market Fluctuations: The report acknowledges that the recently passed "Biosecure Act" may cause short-term fluctuations in the market, but it emphasizes an optimistic outlook for the long-term growth of China's Contract Development and Manufacturing Organization (CDMO) industry.
2. Risk Management Strategies: Companies in the sector can mitigate risks by diversifying their business regions, expanding their clientele outside the US, and avoiding direct contracts with biotechnology companies of concern.
3. Earnings Visibility: The earnings visibility of market leaders in the industry remains intact, suggesting that they are well-positioned to navigate the challenges posed by the Act.
4. Exemption Period: The Act includes a five-year exemption period for already signed contracts, indicating that the short-term operational impact will be limited.
5. Stock Preferences: The broker specifically recommends PHARMARON and WUXI XDC, both rated as Buy, with target prices set at HKD28.1 and HKD90 respectively, reflecting confidence in their performance despite the regulatory changes.
CLSA
CLSA
Outperform
maintain
2025-08-21
Reason
CLSA
Outperform
Price Target
2025-08-21
maintain
CICC
CICC
maintain
$45 -> $75
2025-08-20
Reason
CICC
Price Target
$45 -> $75
2025-08-20
maintain
Citi
Citi Research
NULL -> Buy
upgrade
$46 -> $70
2025-08-20
Reason
The analyst rating from Citi Research for WUXI XDC (02268.HK) is based on several key factors:
1. Increased Revenue Growth Guidance: WUXI XDC raised its FY2025 revenue growth guidance from over 35% to over 45%, which the broker considers to be relatively conservative.
2. Strong Project Delivery and Order Growth: Citi Research raised its revenue forecasts for 2025-2027 by 6%, 8%, and 8% respectively, indicating confidence in the company's project delivery and order growth.
3. Improved Gross Profit Margin: Management expects the gross profit margin for 2025 to be higher than in 2024, despite a projected decrease in the second half of 2025 due to maintenance costs and facility renewal expenses. This expectation led to an increase in EPS forecasts by 18%, 21%, and 22% for the respective years.
4. Target Price Increase: Citi Research raised its target price from $46 to $70, reflecting the positive outlook on revenue and profit growth.
5. Long-term Growth Potential: The forecasted compound annual growth rate (CAGR) for revenue over the next decade was increased from 23% to 26%, further supporting the Buy rating.
Overall, the combination of strong growth projections, improved profitability expectations, and a favorable long-term outlook contributed to the positive analyst rating.
Citi
NULL -> Buy
Price Target
$46 -> $70
2025-08-20
upgrade
The analyst rating from Citi Research for WUXI XDC (02268.HK) is based on several key factors:
1. Increased Revenue Growth Guidance: WUXI XDC raised its FY2025 revenue growth guidance from over 35% to over 45%, which the broker considers to be relatively conservative.
2. Strong Project Delivery and Order Growth: Citi Research raised its revenue forecasts for 2025-2027 by 6%, 8%, and 8% respectively, indicating confidence in the company's project delivery and order growth.
3. Improved Gross Profit Margin: Management expects the gross profit margin for 2025 to be higher than in 2024, despite a projected decrease in the second half of 2025 due to maintenance costs and facility renewal expenses. This expectation led to an increase in EPS forecasts by 18%, 21%, and 22% for the respective years.
4. Target Price Increase: Citi Research raised its target price from $46 to $70, reflecting the positive outlook on revenue and profit growth.
5. Long-term Growth Potential: The forecasted compound annual growth rate (CAGR) for revenue over the next decade was increased from 23% to 26%, further supporting the Buy rating.
Overall, the combination of strong growth projections, improved profitability expectations, and a favorable long-term outlook contributed to the positive analyst rating.
Huatai Securities
maintain
2025-08-20
Reason
Huatai Securities
Price Target
2025-08-20
maintain
Valuation Metrics
Forward PE
5Y Average PE
30.77
Current PE
37.74
Overvalued PE
41.42
Undervalued PE
20.13
Forward EV/EBITDA
5Y Average EV/EBITDA
24.01
Current EV/EBITDA
29.26
Overvalued EV/EBITDA
33.25
Undervalued EV/EBITDA
14.77
Forward PS
5Y Average PS
7.59
Current PS
9.83
Overvalued PS
10.15
Undervalued PS
5.04
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