Steady 1Q performance amid challenging environment

M N 2 May 2024 CMB International Global Markets | Equity Research | Company Update WuXi AppTec (603259 CH) Steady 1Q performance amid challenging environment Target Price RMB53.23 WuXi AppTec reported 1Q24 revenue of RMB7,982mn, down 11.0% YoY, (Previous TP RMB67.53) attributable recurring net profit of RMB2,034mn, up 7.3% YoY, and attributable Up/Downside 21.9% adjusted non-IFRS net profit of RMB1,913mn, down 18.3% YoY. 1Q24 revenue Current Price RMB43.67 / adjusted Non-IFRS net income accounted for 20.4%/ ...