中邮证券给予药明康德“买入”评级，业绩超预期，2025Q4盈利能力维持稳定

Group 1 - The core viewpoint of the article is that Zhongyou Securities has given WuXi AppTec (603259.SH) a "buy" rating based on its strong business growth and stable profitability [1] - The report highlights that the operating business growth has exceeded expectations, with a projected revenue increase in Q4 2025 [1] - It is noted that the profitability in Q4 remains stable, with potential for further improvement in 2026 [1] Group 2 - The report mentions potential risks including geopolitical risks and slower-than-expected capacity deployment [1] - It also points out that industry demand recovery may not meet expectations, and competitive pricing pressures could be higher than anticipated [1]