Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> announced 1H26 result, with revenue increasing 39% to RMB29B and net profit climbing 83% to RMB12B. 2Q26 revenue growth accelerated to 48% from 29% in 1Q26.</li>
<li>Driven by continued focus on core CRDMO strategy, backlog for continuing operations reached RMB63B as of June 30,2026, up 25% YoY, further enhancing business visibility.</li>
<li>The company is targeting 2026 total revenue of RMB58.5B– 60.5B (up from RMB51.3B–53.0B), with continuing operations revenue growing 35%–39% YoY (up from 18%–22%).</li>
</ul>



WuXi AppTec (2359 HK) announced 1H26 result, with revenue increasing 39% to RMB29B and net profit climbing 83% to RMB12B. 2Q26 revenue growth accelerated to 48% from 29% in 1Q26.
Driven by continued focus on core CRDMO strategy, backlog for continuing operations reached RMB63B as of June 30,2026, up 25% YoY, further enhancing business visibility.
The company is targeting 2026 total revenue of RMB58.5B– 60.5B (up from RMB51.3B–53.0B), with continuing operations revenue growing 35%–39% YoY (up from 18%–22%).


WuXi AppTec (2359 HK): Delivers Stellar 1H Result Amid US Crackdown; FY Guidance Raise

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.</p>

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure. From a macro perspective, despite some mild price deterioration recently on major indexes around the globe, our outlook remains unchanged and we remain neutral yet constructive overall. Market dynamics remain largely constructive and we continue to see attractive opportunities in many countries/regions such as Japan, China (Shanghai Composite), Europe, India, and Canada, to name a few.

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> announced 1Q26 result, with total revenue increasing 29% YoY to RMB12B and net profit climbing 27% YoY to RMB5B.</li>
<li>Wuxi Chemistry reported strong performance in 1Q26, with revenue increasing 44% YoY to RMB11B. Backlog for continuing operations reached RMB60B as of March 31,2026, up 24% YoY,  enhancing business visibility.</li>
<li>Wuxi AppTec is confident in achieving its 2026 full-year revenue guidance. For context, the company guided for 2026 revenue of RMB51.3–53.0B, with continuing operations revenue growing 18%–22% YoY.</li>
</ul>



WuXi AppTec (2359 HK) announced 1Q26 result, with total revenue increasing 29% YoY to RMB12B and net profit climbing 27% YoY to RMB5B.
Wuxi Chemistry reported strong performance in 1Q26, with revenue increasing 44% YoY to RMB11B. Backlog for continuing operations reached RMB60B as of March 31,2026, up 24% YoY,  enhancing business visibility.
Wuxi AppTec is confident in achieving its 2026 full-year revenue guidance. For context, the company guided for 2026 revenue of RMB51.3–53.0B, with continuing operations revenue growing 18%–22% YoY.


WuXi AppTec (2359 HK): Better-Than-Expected 1Q Performance Lifts Sustainable Growth Conviction

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Central Mine Planning Design Institute Ltd (CMPDIL) / Equity Capital Markets

Central Mine Planning Design Institute Ltd (CMPDIL) (0180301D IN)

Central Mine Planning Design Institute Ltd (CMPDIL)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/central-mine-planning-design-institute-ltd-cmpdil" target="_blank" data-smartkarma-citation="entities:45267:1" rel="noopener">Central Mine Planning Design Institute Ltd (CMPDIL) (0180301D IN)</a> raised around US$200m in its all-secondary India IPO.</li>
<li>CMPDI is a Coal India subsidiary, providing consultancy and support services across the full range of coal and mineral exploration, mine planning and design, covering the entire mining operations lifecycle.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Central Mine Planning Design Institute Ltd (CMPDIL) (0180301D IN) raised around US$200m in its all-secondary India IPO.
CMPDI is a Coal India subsidiary, providing consultancy and support services across the full range of coal and mineral exploration, mine planning and design, covering the entire mining operations lifecycle.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: CMPDI IPO Trading - Muted Demand Trend Continues

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> has announced 2025 result, with both revenue and net profit reaching record highs. Revenue increased 16% YoY to RMB45.5B, ahead of guidance of RMB43.5–44.0B.</li>
<li>With continuous capacity expansion to better meet customer demand, backlog for continuing operations reached a record high of RMB58B by the end of 2025, up 29% YoY.</li>
<li>Based on the current order backlog, Wuxi AppTec expects total revenue to reach RMB51.3–53.0B in 2026, with continuing operations revenue growing 18%–22% YoY.</li>
</ul>



WuXi AppTec (2359 HK) has announced 2025 result, with both revenue and net profit reaching record highs. Revenue increased 16% YoY to RMB45.5B, ahead of guidance of RMB43.5–44.0B.
With continuous capacity expansion to better meet customer demand, backlog for continuing operations reached a record high of RMB58B by the end of 2025, up 29% YoY.
Based on the current order backlog, Wuxi AppTec expects total revenue to reach RMB51.3–53.0B in 2026, with continuing operations revenue growing 18%–22% YoY.


WuXi AppTec (2359 HK): Core Business Drives 2025 Performance; Momentum to Continue

India

Syngene International is a contract research, development, and manufacturing organization (CRDMO) that provides integrated scientific services across the drug discovery and development value chain. The company offers services ranging from early-stage research to commercial-scale manufacturing, catering to pharmaceutical, biotechnology, animal healthcare, consumer goods, and agrochemical companies worldwide. Syngene International was founded in 1993 and is headquartered in Bangalore, India.

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Syngene International (SYNG IN)

WuXi AppTec (2359 HK): Delivers Stellar 1H Result Amid US Crackdown; FY Guidance Raise

WuXi AppTec reports strong 1H26 results with revenue up 39% and net profit up 83%. Backlog surges 25%. The company raised 2026 continuing...

Tina Banerjee

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure.

Vermilion Research

WuXi AppTec (2359 HK): Better-Than-Expected 1Q Performance Lifts Sustainable Growth Conviction

WuXi AppTec reports strong 1Q26 results with revenue up 29% YoY to RMB12B and net profit up 27% YoY to RMB5B. The company remains confident in...

Tina Banerjee

Aequitas: CMPDI IPO Trading - Muted Demand Trend Continues

Central Mine Planning Design Institute Ltd (CMPDI) raised around US$200m in its all-secondary India IPO. In this note, we talk about the demand and...

Akshat Shah

WuXi AppTec (2359 HK): Core Business Drives 2025 Performance; Momentum to Continue

WuXi AppTec reports record-high revenue and net profit in 2025, with backlog reaching RMB58B. The company guided for 2026 revenue of...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

WuXi AppTec (2359 HK): Delivers Stellar 1H Result Amid US Crackdown; FY Guidance Raise

​WuXi AppTec reports strong 1H26 results with revenue up 39% and net profit up 83%. Backlog surges 25%. The company raised 2026 continuing...

Tina Banerjee

Global Energy Sector Improving -- Buying Reliance Industries Ltd, Several Others

Crude oil prices display bullish short-term reversals, resulting in bullish price and RS reversals for global Energy stocks -- add exposure.

Vermilion Research

WuXi AppTec (2359 HK): Better-Than-Expected 1Q Performance Lifts Sustainable Growth Conviction

​WuXi AppTec reports strong 1Q26 results with revenue up 29% YoY to RMB12B and net profit up 27% YoY to RMB5B. The company remains confident in...

Tina Banerjee

Aequitas: CMPDI IPO Trading - Muted Demand Trend Continues

Central Mine Planning Design Institute Ltd (CMPDI) raised around US$200m in its all-secondary India IPO. In this note, we talk about the demand and...

Akshat Shah

WuXi AppTec (2359 HK): Core Business Drives 2025 Performance; Momentum to Continue

​WuXi AppTec reports record-high revenue and net profit in 2025, with backlog reaching RMB58B. The company guided for 2026 revenue of...

Tina Banerjee

WuXi AppTec reports strong 1H26 results with revenue up 39% and net profit up 83%. Backlog surges 25%. The company raised 2026 continuing...

WuXi AppTec reports strong 1Q26 results with revenue up 29% YoY to RMB12B and net profit up 27% YoY to RMB5B. The company remains confident in...

WuXi AppTec reports record-high revenue and net profit in 2025, with backlog reaching RMB58B. The company guided for 2026 revenue of...