In today’s briefing:
- M3: Earnings Slowdown Is Inevitable
- Wuxi Biologics (2269.HK) – The Latest Updates Related to 2024 Performance Worth the Attention
M3: Earnings Slowdown Is Inevitable
- M3 Inc (2413 JP) reported 3QFY03/2024 results today. Both revenue and OP decreased 1.6% and 7.5% YoY respectively and fell below consensus estimates.
- Medical Platform’s revenues declined YoY while overseas segment’s top line growth has been slowing down raising concerns over m3’s growth prospects.
- Given continued decline in earnings, it seems that m3 will struggle to meet its full-year guidance suggesting there is further downside.
Wuxi Biologics (2269.HK) – The Latest Updates Related to 2024 Performance Worth the Attention
- Li Ge has begun increasing his holdings, but we’re not sure whether this move is really confident about the prospects of WuXi Bio, or another buy low sell high/capital operation.
- The actual situation of WuXi Bio is not necessarily optimistic. Due to geopolitical risks, WuXi Bio has to start striving for more domestic orders. However, price reduction seems inevitable.
- Although WuXi Bio released optimistic expectations for 2024 project number/outlook, there may be another announcement of lower-than-expected performance in the future,which would be a devastating blow to investors’ confidence/management’s credibility.
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