药明生物-盈利回顾_2024 年下半年盈利略高于高盛预期；预计 2025 财年收入增长 12 - 15% 且利润率改善

27 March 2025 | 12:00AM HKT WuXi Biologics (2269.HK) Earnings Review: 2H24 earnings slightly higher than GSe; guided 12-15% revenue growth for FY25 and improving margin | 2269.HK | | --- | | 12m Price Target: HK$23.40 | | Price: HK$26.20 | | Downside: 10.7% | 2H24 revenue reached Rmb10.1bn (vs GSe Rmb9.70bn or VA consensus Rmb9.43bn), +18.3% y/y, that came at higher end of the previous guidance (FY24 +9.6% y/y, vs guidance of +5%-10% y/y), mainly attributable to the robust growth from WuXi XDC (+111% in 2H) ...