Core Viewpoint - The report from Credit Lyonnais indicates that potential royalties and milestone payments, in addition to development and production, are expected to be key drivers for WuXi Biologics' long-term growth, leading to an upward revision of revenue and net profit forecasts for 2025 to 2027 [1] Group 1 - WuXi Biologics' sales increased by 16% year-on-year in the first half of the year, with adjusted net profit rising by 12%, aligning with market expectations [1] - The management has raised the full-year revenue growth guidance from 12%-15% to 14%-16%, anticipating accelerated growth in unfulfilled orders to support the company's long-term growth [1] Group 2 - Revenue forecasts for 2025 to 2027 have been adjusted upward by 2% to 9%, while net profit forecasts for 2026 to 2027 have been increased by 6% to 12% to reflect strong mid-term performance and robust order growth [1] - The target price for WuXi Biologics has been raised from HKD 28.8 to HKD 34.8, maintaining an "outperform" rating [1]
里昂：维持药明生物跑赢大市评级 目标价升至34.8港元