药明康德-2026 年业绩指引稳健，订单与产能扩张支撑增长；上调目标价

J P M O R G A N Asia Pacific Equity Research 26 March 2026 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. WuXi Apptec Solid FY26E guidance backed by backlog momentum and capacity expansion; raising PTs Management's strong 2025 execution and constructive 202 ...