HK Stock Market Move | WUXI BIO (02269) rose more than 5%, with a strong increase in newly signed projects. The company is expected to show accelerated business momentum by 2025.

WUXI BIO (02269) rose more than 5%, up 5.01% to HK$18.86 as of the time of writing, with a turnover of HK$6.09 billion. CICC released a research report stating that recently, WUXI BIO attended the 43rd annual J.P. Morgan Healthcare Conference, where CEO Chen Zhisheng updated investors on the recent business situation and outlook for 2025. The company maintains its guidance for 2024, including a 5% to 10% revenue growth and an 8% to 14% growth in non-COVID revenue; and expects business momentum to accelerate in 2025. Additionally, operational efficiency improvements are expected, with management projecting a profit margin increase of 100 to 150 basis points in 2025. The report also noted that due to the strong growth in new signed projects, the PPQ project pipeline is expected to expand significantly. CMB International stated that WUXI BIO signed a record 151 new projects in 2024, with the right to receive a milestone payment of $140 million in the near future. Additionally, overseas operations are steadily progressing, with the Ireland biopharmaceutical factory expected to generate profits in 2025. Management reaffirmed its 2024 performance guidance, expecting a 5-10% year-on-year growth in revenue and adjusted net profit (excluding minority interests), and predicts accelerated revenue growth in 2025.