Group 1 - Bank of America has raised the long-term revenue forecast for WuXi AppTec (603259) with a compound annual growth rate (CAGR) of earnings per share adjusted to 16.2% from 2025 to 2032 [1] - The target price for WuXi AppTec's Hong Kong shares has been increased from HKD 115.7 to HKD 123, and the A-share target price has been raised from RMB 107.6 to RMB 114.4, maintaining a "Buy" rating due to robust order growth and operational efficiency improvements [1] - The total value of licensing transactions in China's biotechnology and pharmaceutical industry surged by 135% year-on-year to USD 60 billion in the first half of the year [1] Group 2 - Bank of America has also raised long-term revenue forecasts for Zai Lab (603127) and Fonda Holdings (01521) due to improved demand outlook [2] - The firm expects industry leader WuXi AppTec to continue gaining market share due to its integrated platform and strong operational efficiency, preferring it over Zai Lab and Fonda Holdings, which are rated "Underperform" [2] - The target price for Zai Lab's Hong Kong shares has been increased from HKD 9.3 to HKD 11, and the A-share target price has been raised from RMB 8.5 to RMB 10.1, while Fonda Holdings' target price has been adjusted from HKD 0.8 to HKD 0.95 [2]