WUXI BIO Shares Surge Over 4% on Strong Project Wins and Confirmed Revenue Outlook

Stock News
Jun 01

WUXI BIO (HKEX: 02269) shares rose more than 4%, gaining 4.26% to HK$34.76 by the latest update, with a trading volume of HK$13.23 billion.

The company announced that it secured 69 new integrated projects in the first four months of the year, with approximately two-thirds originating from the US and European markets.

WUXI BIO reaffirmed its full-year revenue guidance, projecting year-on-year growth of 13% to 17%. Excluding the impact of currency fluctuations, the expected revenue growth rate increases to a range of 16% to 20%.

The company expressed confidence in its future growth prospects, citing the advantages of its global CRDMO platform and its continuously expanding client base.

Management anticipates that the compound annual growth rate for revenue over the next three years will reach 20%.

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