Ge Long Hui·2026-01-13 06:17Core Viewpoint - Morgan Stanley's research report indicates that WuXi AppTec's revenue is expected to increase by 15.8% year-on-year to 45.5 billion yuan in 2025, with profits rising by 102.7% to 19.2 billion yuan, and adjusted non-IFRS profits increasing by 41.3% to 15 billion yuan [1] Revenue and Profit Growth - Revenue from continuing operations is projected to grow by 21.4% year-on-year, surpassing management's expectations of 17% to 18% [1] - The growth is primarily driven by the later-stage R&D and commercialization contracts in the chemical business, as well as strong performance in the TIDES business [1] One-time Gains - The company confirmed two significant one-time gains during the year, including approximately 4.2 billion yuan from the partial divestment of WuXi AppTec's equity and about 1.4 billion yuan from the sale of its testing business [1] Investment Outlook - Morgan Stanley continues to list WuXi AppTec as a preferred stock for 2026, setting a target price of 130 yuan for its A-shares and maintaining an "overweight" rating [1] - Future catalysts include updated business outlooks from brokerage meetings and a potential easing of geopolitical headwinds [1]