BOCI Securities: Maintains "Buy" rating on Wuxi Biologics, with target price raised to 122 Hong Kong dollars.

Bank of China International released a research report stating that WuXi AppTec had a strong performance in the first half of the year, with steady growth in revenue and net profit, expansion of profit margins, outstanding performance in the TIDES business, and resilient growth in the chemical business, which helps offset the weakness in clinical CRO and testing businesses. The management raised its revenue guidance for 2025 to 42.5 billion to 43.5 billion RMB, representing a continued operating business growth of 13% to 17%, while maintaining capital expenditures at 7 to 8 billion RMB. Bank of China International increased WuXi AppTec's profit forecast for the current and next year by 15% and 22%, raising the target price from 81 Hong Kong dollars to 122 Hong Kong dollars, and maintaining a "buy" rating.