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WUXI BIO, WUXI APPTEC Jump Up ~6%, 9%; Citi Says CN Healthcare Sector Valuations Attractive with Good Entry Point
2026-06-24 10:43:42 WUXI BIO (02269.HK) opened 1.16% higher today (24th) and once peaked at HKD33.44. It last stood at HKD32.98, up 5.91%, with 18.0207 million shares traded, involving HKD589 million. WUXI APPTEC (02359.HK) opened 0.38% higher and once peaked at HKD143.5. It last posted at HKD142.2, up 8.72%, with 5.6117 million shares traded, involving HKD786 million. INNOVENT BIO (01801.HK) opened 1.76% higher and once hit a peak of HKD80.45. It last printed at HKD79, up 3.27%, with 7.4046 million shares traded, involving HKD588 million. HENGRUI PHARMA (01276.HK) opened 0.09% lower and once bottomed at HKD55.3. It last quoted at HKD58.75, up 4.63%, with 2.3453 million shares traded, involving HKD137 million. Citi said in a research report that it hosted an investor tour for China’s healthcare sector last week, covering multiple leading sub-sector companies and industry experts. The broker believed industry fundamentals continue to thrive, with rapid progress in innovative drug pipelines, strong BD trends, sustained CDMO orders, and globalization supported by cutting-edge technologies. In terms of valuation, several sub-sectors are at or near multi-year lows. In Citi view, improving fundamentals and strong orders have not been reflected in valuations, while geopolitical and domestic policy concerns have been largely priced in. Coupled with share buybacks by multiple companies that signal insider confidence, the broker was constructive on the sector’s asymmetric risk-reward skewed to the upside, saw limited downside, and suggested long-term investors may build positions in the near term. Citi’s sector top picks included HENGRUI PHARMA (01276.HK), WUXI APPTEC (02359.HK), WUXI BIO (02269.HK), CSPC PHARMA (01093.HK), ASCLETIS-B (01672.HK), INNOVENT BIO (01801.HK), ALI HEALTH (00241.HK), MEDBOT-B (02252.HK), MINDRAY BIO-MEDICAL (300760.SZ), AIER EYE (300015.SZ), and YIFENG PHARMACY (603939.SH). The broker considered China’s healthcare sector valuations are at or near multi-year lows, and the recent valuation compression has been overdone. It was also positive on buyback activities and policy catalysts across multiple sub-sectors. ~ AASTOCKS Financial News Website: www.aastocks.com | |