CITIC International lowered the target price for WuXi XDC to 82 yuan, rating it as "Buy."

CMB International published a research report indicating that WuXi XDC (02268.HK) is expected to achieve a year-on-year revenue growth of 46.7% in 2025, with adjusted net profit attributable to the parent company significantly increasing by 69.9% year-on-year. The company's revenue and adjusted net profit attributable to the parent company in 2025 are projected to be 0.6% higher and 1.6% lower than the bank's forecasts, respectively.

The bank noted that as of the end of last year, the backlog grew by 50.3% year-on-year to USD 1.49 billion, and new orders signed during the year increased by 41% year-on-year to USD 1.33 billion, continuing the rapid growth momentum. Based on this, management expects revenue to grow by over 40% year-on-year in 2026, with gross margins at least on par with those in 2025.

The bank anticipates that the company's revenue will grow by 36.2%, 31.7%, and 29.9% year-on-year in this year, next year, and 2028, respectively, with adjusted net profit growing by 34.5%, 31.7%, and 32.5% year-on-year for those years. Its target price has been lowered from HKD 88 to HKD 82, maintaining a "Buy" rating