Zhongtai International: Maintains "Buy" rating on WuXi AppTec (02359.HK) with a target price of HKD 216.

Zhitong Finance APP has learned that China Thai International has released a research report stating that, based on the adjusted DCF model, it has raised the target price for WuXi AppTec (02359.HK) to HKD 216, maintaining a "Buy" rating. The company's revenue in the first half of 2026 is expected to increase by 38.9% year-on-year to 28.9 billion yuan (RMB, the same below), while net profit attributable to shareholders is projected to grow by 33.7% year-on-year to 11.08 billion yuan. Adjusted non-IFRS net profit attributable to shareholders is expected to rise by 83.2% to 11.57 billion yuan, with performance significantly exceeding expectations. Due to revenue and profit in the first half exceeding expectations and the rapid growth of orders on hand, the bank has raised its revenue forecasts for 2026-2028E by 13.5%, 11.8%, and 15.5%, respectively, and raised its net profit forecasts for shareholders by 38.0%, 28.7%, and 34.0%, respectively.