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<Research> G Sachs: WuXi AppTec (02359.HK) 1Q26 Results Far Exceed Expectations; Maintains Buy Rating
A research report by G Sachs stated that WuXi AppTec (02359.HK) delivered strong results for 1Q26, with both revenue and profit far exceeding the brokers and the markets expectat...
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<Research> G Sachs: WuXi AppTec (02359.HK) 1Q26 Results Far Exceed Expectations; Maintains Buy Rating
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A research report by G Sachs stated that WuXi AppTec (02359.HK)  -2.200 (-1.691%)    Short selling $408.50M; Ratio 38.774%   delivered strong results for 1Q26, with both revenue and profit far exceeding the brokers and the markets expectations. During the period, revenue rose 28.8% YoY to RMB12.44 billion, of which revenue from continuing operations increased 39.4% YoY, mainly driven by YoY growth of 43.7% in the WuXi Chemistry business and 27.4% in the WuXi Testing business.

The broker noted that in February this year, it upgraded WuXi AppTec to Buy, reflecting stronger confidence in the companys earnings outlook for 2026 and increasingly clear growth prospects for 2027. In early April, the stock was added to the Conviction List. The 1Q26 results further reinforced its investment thesis, supported by the companys solid order backlog, continued capacity expansion in the TIDES business, accelerating growth momentum in small-molecule drug development and commercialization, and oral small-molecule GLP-1 inhibitor projects increasingly becoming key growth drivers starting from 2026. As late-stage R&D projects and commercialized assets continue to increase, these factors are expected to further enhance visibility of mid-term revenue and earnings.

Related NewsCiti: Fundamentals of China Healthcare Sector Continue to Improve; Top Picks WUXI APPTEC (02359.HK), WUXI BIO (02269.HK), ALI HEALTH (00241.HK)
G Sachs set a TP of HKD149.7 for WuXi AppTecs H shares, based on a 12-month forward price-to-earnings ratio of 19x. It also set a TP of RMB137.3 for WuXi AppTec (603259.SH)  +0.120 (+0.116%)   A shares. Both share classes are rated Buy and included on the Conviction List. (hc/ad)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.) (A Shares quote is delayed for at least 15 mins.)

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