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.

Sciclone Pharmaceuticals (6600.HK) - The Privatization Offers a Good Exit Opportunity

China Healthcare Weekly (Apr.6) - Boom of TCM Injections Is Coming, Defects in GLP-1s, Sino Biopharm

China Healthcare Weekly (Apr14)- Shanghai Shyndec Pharma,Innovative Drug Policy,Ultra Long-Term Bond

Wuxi Biologics (2269.HK) - The Latest Updates Related to 2024 Performance Worth the Attention

WuXi AppTec (2359.HK/603259.CH) 2023 Results - Time to Prepare for the Worst

Wuxi Biologics (2269.HK) - Dramatic Changes in Management Forecasts Fail to Bring Back Confidence

Escalation of Israel-Hamas War - Here's How Investors Should Position Themselves in Dramatic Changes

Equity Bottom-Up

<ul>
<li>WuXi Bio’s profit was disappointing.The 41 new orders added last December were small orders, which cannot contribute decent revenue/profits.The goal of gross margin to reach 45% by 2026 seems challenging.</li>
<li>The management has become more cautious in its guidance for 2024. 2024H1’s performance could be disappointing. The key is to see whether the performance in 2024 full-year would meet expectations.</li>
<li>Due to BIOSECURE Act, foreign CXOs are planning to seize WuXi Bio’s market share. We are not sure whether Europe (the US’s ally), will follow suit and enact similar legislation.</li>
</ul>


WuXi Bio’s profit was disappointing.The 41 new orders added last December were small orders, which cannot contribute decent revenue/profits.The goal of gross margin to reach 45% by 2026 seems challenging.
The management has become more cautious in its guidance for 2024. 2024H1’s performance could be disappointing. The key is to see whether the performance in 2024 full-year would meet expectations.
Due to BIOSECURE Act, foreign CXOs are planning to seize WuXi Bio’s market share. We are not sure whether Europe (the US’s ally), will follow suit and enact similar legislation.


Wuxi Biologics (2269.HK) - The Crisis Is Not Over