HK Stock Market Move | Wuxi XDC (02268) opened nearly 3% higher, and the expected annual net profit is expected to increase more than 2.6 times year-on-year.

WUXI XDC (02268) opened nearly 3% higher. As of the time of publication, it rose 2.21% to 30.1 Hong Kong dollars, with a turnover of 3.052 million Hong Kong dollars. On the news side, WUXI XDC announced that it expects the group's revenue, net profit, and adjusted net profit for the fiscal year ending December 31, 2024 to increase by over 85%, 260%, and 170% respectively from the corresponding amounts for the fiscal year ending December 31, 2023. The company believes that the expected growth is mainly due to the following factors: the continuous high-speed development of the biologics industry, including the company's downstream customers in the antibody-drug conjugate (ADC) industry; the company's leading position and unique competitive advantages in the industry; and further improvement in the company's profit margin, mainly attributed to the high production capacity utilization of the company's production facilities, the further enhancement of the company's production capacity with the new production lines, the improvement in operational efficiency, and the interest income earned from the company's cash financial management.