Stock Track | WuXi XDC Soars 5.09% Intraday on Strong Annual Earnings and Sector-Wide Rally
Stock Track
Apr 28
WuXi XDC's stock soared 5.09% intraday on Tuesday, driven by robust annual financial results and a broad-based rally in the Life Sciences Tools & Services sector.
The company's annual report showed revenue of RMB 5.944 billion, a 46.6% year-over-year increase, primarily due to surging demand for ADC and other bioconjugate CRDMO services. Gross margin improved from 30.6% to 36.0%, and net profit rose 38.4% to RMB 1.48 billion, indicating enhanced profitability.
Additionally, the sector experienced strong momentum, with peers like WuXi AppTec, Pharmaron, and WuXi Biologics also posting gains, creating a positive linkage effect that bolstered sentiment for WuXi XDC.
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