Core Viewpoint - WuXi AppTec (药明康德) has announced a third round of share reduction in WuXi AppTec's subsidiary, WuXi Biologics (药明合联), since November last year, raising over 4.5 billion HKD in total from these transactions, indicating a strategic move to enhance its cash flow for global capacity expansion [1][2][4]. Group 1: Share Reduction Details - The recent share reduction involved the sale of 50.8 million shares of WuXi Biologics, accounting for approximately 4.23% of its total share capital, with a transaction value of about 2.178 billion HKD [2]. - Cumulatively, through three rounds of share reductions, WuXi AppTec has raised over 4.5 billion HKD, with the expected net profit contribution from these sales projected to be around 3.144 billion CNY in 2025 [1][2]. Group 2: Financial Performance of WuXi Biologics - WuXi Biologics reported a significant revenue increase of 90.8% year-on-year, reaching 4.052 billion CNY in 2024, with a net profit surge of 277% to 1.07 billion CNY [3]. - The stock price of WuXi Biologics has seen a remarkable increase of 251.56% from late July 2024 to the peak on April 1, 2025 [3]. Group 3: Strategic Focus of WuXi AppTec - WuXi AppTec's cash reserves stand at 18.322 billion CNY, with plans to utilize the proceeds from share sales to accelerate global capacity and capability development [4][5]. - The company aims to double its capital expenditure in the D&M (Development and Manufacturing) phase by 2025, with projected spending between 7 billion to 8 billion CNY [4][5]. - WuXi AppTec is currently constructing six bases globally, with significant expansions planned in Switzerland, the U.S., and Singapore to meet increasing global demand [5].