Zhitong App learned that CRO concept stocks rebounded in early trading. As of the time of writing, WUXI APPTEC (02359) rose 5.26% to HKD 46; WUXI BIO (02269) rose 3.34% to HKD 17.34; Asymchem (06821) rose 2.15% to HKD 61.7; PHARMARON (03759) rose 1.2% to HKD 9.25.
CITIC Securities pointed out that recently, US lawmakers have introduced a draft bill to restrict cooperation between US government agencies and specific Chinese biotechnology companies. The content related to Chinese CXO companies in the draft bill is false and unsubstantiated. We believe that the likelihood of legislation based on the current publicly available content and status of the draft bill is low. We believe that Chinese CXO companies are deeply embedded in the global biopharmaceutical industry chain, empowering global drug research and development and production, achieving win-win cooperation with global pharmaceutical customers, and benefiting patients. The short-term fluctuations in overseas policies do not affect the long-term fundamental logic of Chinese CXO companies. We still have confidence in the leading position of global CRDMO and expect it to continue to maintain steady development in the future.
In addition, the management team of WUXI APPTEC issued an open letter to customers, stating that the company has always adhered to the core values of &#34;doing the right thing and doing things well&#34;. Even in the face of baseless and misleading accusations recently, our core values will not be shaken. A proposed legislative bill in the US Congress mentioned WUXI APPTEC. Currently, the bill is still under review, and we are actively communicating with relevant parties to clarify the unfounded and misleading allegations against the company. We believe that after fully understanding the facts, US lawmakers will understand that WUXI APPTEC does not pose a risk to the national security of any country. In fact, WUXI APPTEC has been making important contributions to the pharmaceutical and health industry.

WXXWY

603259

002821

300759

06821

02359

02269

03759

WUXI APPTEC and other CRO concept stocks rebounded in early trading, as institutions believe that the probability of US legislation is low and it does not affect the long-term fundamental logic of the industry. WUXI APPTEC had the largest increase, reaching 5.26%, with a price of HKD 46; WUXI BIO, Asymchem, and PHARMARON had increases of 3.34%, 2.15%, and 1.2% respectively. CITIC Securities pointed out that the accusations against Chinese CXO companies in the US legislative bill are unfounded, and they believe that the possibility of legislation is low, and the future development of Chinese CXO companies is stable. The management team of WUXI APPTEC also issued an open letter to clarify the accusations.

Zhitong

WuXi Biologics

WuXi AppTec

Asymchem

Pharmaron

WUXI APPTEC

WUXI BIO

PHARMARON

Hong Kong Stock Market News | WUXI APPTEC rebounds over 4%, leading the rise of CRO concept stocks. Institutions believe that the probability of US legislation is low and it does not change the long-term fundamental logic of the industry.