Expand overseas capacity to mitigate risks

M N 28 Mar 2024 CMB International Global Markets | Equity Research | Company Update WuXi Biologics (2269 HK) Expand overseas capacity to mitigate risks Target Price HK$18.32 WuXi Biologics (Wuxi Bio) reported 2023 revenue of RMB17.03bn, up 11.6% (Previous TP HK$39.65) YoY, attributable net income of RMB3.40bn, down 23.1% YoY, and adjusted Up/Downside 33.1% attributable net income of RMB4.70bn, down 4.6% YoY. Both revenue and Current Price HK$13.76 adjusted attributable net income were in-line with our forec ...