Zhi Tong Cai Jing·2025-10-24 06:56Core Viewpoint - WuXi AppTec (02359) is experiencing a nearly 4% increase in stock price, currently at HKD 110.3, with a trading volume of HKD 518 million, ahead of its board meeting scheduled for October 24 to discuss Q3 performance up to September 30, 2025 [1] Group 1: Business Development - The TIDES business continues to show strong growth momentum, with rapid capacity expansion and a rich pipeline [1] - Early-stage R&D is showing signs of further recovery, which is expected to drive growth in early-stage business revenue, accounting for approximately one-third of the company's total revenue [1] - The company's refined operations are helping maintain resilient profitability amid macro uncertainties and global capacity expansion [1] Group 2: Market Position - JPMorgan continues to favor WuXi AppTec as a top pick in the Chinese CXO sector, highlighting it as the largest contract research and manufacturing organization in China [1] - The firm is optimistic about the company's business fundamentals, noting that competition in the small molecule CRDMO sector remains relatively mild, while the growth momentum in WuXi's TIDES business remains strong [1]