智通财经网·2025-10-27 09:33Core Viewpoint - Morgan Stanley reports that WuXi AppTec (02359, 603259.SH) achieved a 15.3% year-on-year revenue increase in Q3, reaching 12.1 billion RMB, with net profit rising by 53.3% to 3.515 billion RMB, exceeding expectations [1] Financial Performance - Q3 revenue increased by 15.3% to 12.1 billion RMB, while net profit rose by 53.3% to 3.515 billion RMB [1] - Adjusted net profit under non-IFRS increased by 42% to 4.22 billion RMB [1] - Revenue growth in chemical, testing, and biological segments was 23%, 2%, and 6% respectively [1] Investment Recommendation - Morgan Stanley suggests that now is an opportune time to buy WuXi AppTec shares, with a projected P/E ratio of approximately 20 times for FY2026, below the industry median of 26 times [1] - The firm maintains an "Overweight" rating with a target price of 105 RMB for A-shares [1] Guidance Update - The company raised its full-year revenue growth guidance from 13%-17% to 17%-18% [1] - The upper limit of the guidance was adjusted conservatively, while the lower limit was increased significantly by 4 percentage points [1] - For the first nine months, revenue has cumulatively grown by 22.5%, indicating potential for the company to meet or exceed its full-year guidance [1]