HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pfizer Inc (PFE US) - Continue to Lose Its Way in the Post-Pandemic Era

China Healthcare Weekly (Dec.25) - Stock Picking Strategy, Logic Flaws Behind a Good Story, Tigermed

Pre-IPO Concord Healthcare Group (PHIP Updates) - Some Points Worth the Attention

Wuxi Biologics (2269.HK) - The Business Update Has Torn Away the Last Fig Leaf

WuXi AppTec (2359.HK/603259.CH) 23Q3 - Will the TIDES Business Turn the Tide?

WuXi AppTec (2359.HK/603259.CH) - Would the Recent Rebound in Share Price Be a Flash in the Pan?

WuXi XDC (2268.HK) - How Long Will the Rally Last?

Equity Bottom-Up

<ul>
<li>Recent business updates of WuXi Bio led to a decline in WuXi AppTec's share price and changed investors' expectations for CXO. Now is the time to adjust forecasts.</li>
<li>We analyzed the growth rate of various business of WuXi AppTec in 2024. In a neutral scenario, growth next year could fall short of management's guidance.Reversal in 2025 is uncertain.</li>
<li>If WuXi AppTec "unexpectedly" receives blockbuster orders, which are large enough to hedge against the downward trend of WuXi AppTec’s other businesses, then it will help to change performance expectations.</li>
</ul>


Recent business updates of WuXi Bio led to a decline in WuXi AppTec's share price and changed investors' expectations for CXO. Now is the time to adjust forecasts.
We analyzed the growth rate of various business of WuXi AppTec in 2024. In a neutral scenario, growth next year could fall short of management's guidance.Reversal in 2025 is uncertain.
If WuXi AppTec "unexpectedly" receives blockbuster orders, which are large enough to hedge against the downward trend of WuXi AppTec’s other businesses, then it will help to change performance expectations.


WuXi AppTec (2359.HK/603259.CH) - How Bad Things Could Be?