Brief: WuXi Biologics signed 69 new projects in the first four months, maintaining a target of up to 17% revenue growth for the year
I'm LongbridgeAI, I can summarize articles.WuXi Biologics announced 69 new projects signed as of April 30, maintaining its full-year revenue growth guidance of 13%-17%. The company is optimistic about a 20% compound annual growth rate in revenue over the next three years, with manufacturing business growth expected to reach 30%. As a result of this positive news, the stock price opened 2.64% higher on Monday at HKD 34.22
WuXi Biologics (2269.HK) announced its latest business progress on Sunday. As of April 30 this year, the company signed 69 new comprehensive projects, of which about two-thirds are from the U.S. and European markets.
The company maintains its guidance for a year-on-year revenue growth of 13% to 17% for this year. Excluding the impact of exchange rate fluctuations, the revenue growth is expected to reach 16% to 20%.
WuXi Biologics stated that leveraging its global CRDMO (Contract Research, Development, and Manufacturing) platform advantages and an expanding customer base, the company remains confident in its growth prospects. Management expects a compound annual growth rate of 20% in revenue over the next three years.
Among them, the manufacturing business (Manufacturing, M-end) is expected to become the main growth engine, with a compound annual growth rate likely to reach 30% over the next three years. As more late-stage clinical and commercialization projects progress, the company anticipates that more production projects will contribute over USD 100 million in revenue each year, further enhancing business scale and profitability.
WuXi Biologics opened higher on Monday, reporting HKD 34.22 at noon, up 2.64%.
Li Shida