Ge Long Hui·2026-02-12 05:45Core Viewpoint - Nomura's report indicates that WuXi AppTec's revenue is expected to grow by 9.2% year-on-year to 11.7 billion yuan in Q4 2025, with net profit increasing by 142% to 7.1 billion yuan [1] Financial Projections - For the fiscal year 2026, revenue is projected to grow by 16% year-on-year to 52.6 billion yuan, surpassing market expectations of 51.1 billion yuan due to strong performance in the chemical business [1] - Net profit for 2026 is expected to increase by 3% year-on-year to 19.6 billion yuan [1] Business Segment Performance - By business segment, revenue for TIDES and late-stage development and manufacturing is expected to grow by 55% and 10% year-on-year, reaching 17.1 billion yuan and 21.6 billion yuan respectively [1] - The growth in TIDES is supported by sustained demand and the company's large-scale functional production capacity of 100,000 liters [1] Target Price Adjustments - Nomura has raised the target price for WuXi AppTec's H-shares from 132.8 HKD to 157.07 HKD and for A-shares from 120.85 CNY to 142.93 CNY, maintaining a "Buy" rating [1]