Ge Long Hui·2026-01-13 07:05Core Viewpoint - Morgan Stanley reports that WuXi AppTec has issued a positive earnings forecast, expecting a 16% year-on-year sales increase to 45.5 billion yuan in 2025, surpassing the bank's expectations by 2% [1] - Adjusted net profit is projected to rise by 41% year-on-year to 15 billion yuan, exceeding the bank's forecast by 4% [1] Group 1 - The better-than-expected performance is driven by continuous capacity and capability enhancements, production process optimization, and improved operational efficiency [1] - The market is anticipated to respond positively to the earnings forecast [1] Group 2 - Although the earnings announcement did not provide specific details on gross margin or operating expenses, the bank views the adjusted net profit margin expansion to 33% as another positive surprise [1] - The target price is set at 142 HKD with a "Buy" rating [1]