Ge Long Hui A P P·2025-10-28 07:53Core Viewpoint - Daiwa's research report indicates that WuXi AppTec's Q3 revenue increased by 15% year-on-year to 12.1 billion yuan, and net profit rose by 53% year-on-year to 3.5 billion yuan, exceeding market expectations by 5% and 15% respectively [1] Financial Performance - Revenue growth was primarily driven by a 23% year-on-year increase in the chemical business and a 7.8 percentage point rise in gross margin [1] - The company has raised its full-year revenue guidance for continuing operations from a growth of 13-17% to a growth of 17-18% [1] - The total revenue target for the year has been adjusted from 42.5-43.5 billion yuan to 43.5-44 billion yuan [1] Analyst Rating - Daiwa maintains a "Buy" rating for WuXi AppTec, based on the upward revision of gross margin forecasts [1] - The target price has been increased from 134 HKD to 138 HKD [1]