Latest news with #WuXiApptec
Reuters
31-07-2025
- Business
- Reuters
China's Wuxi Apptec to raise $980 million via new shares to boost expansion
July 31 (Reuters) - Chinese biotechnology giant WuXi Apptec ( opens new tab, will raise HK$7.70 billion ($980.93 million) through share placement, in a bid to boost its global expansion, it said on Thursday. WuXi said the proceeds will be used to fund efforts to build on its existing and new facilities and ramp up its customer service facilities, without providing any further details. The Shanghai-headquartered company, in its Hong Kong stock exchange announcement, said it will place 73.8 million new H shares at a price of HK$104.27 per share. The placing price is at a 6.9% discount to the stock's closing price of HK$112 on July 30 on the Hong Kong stock exchange, WuXi added. Hong Kong shares of the company fell as much as 6.9% to HK$104.30 by 0237 GMT. WuXi reported a more than 95% jump in its half year net profit attributable to 8.29 billion yuan ($1.15 billion) on July 28, and raised its full-year overall revenue forecast to 42.5 billion yuan to 43.5 billion yuan from its previous forecast of 41.5 billion yuan to 43 billion yuan. The biotech giant raised $500 million in convertible bonds last October, and sold its cell and gene therapy manufacturing unit, WuXi Advanced Therapies, to U.S.-based private equity firm Altaris LLC in December for an undisclosed sum. ($1 = 7.8497 Hong Kong dollars) ($1 = 7.1923 Chinese yuan renminbi)
Forbes
29-07-2025
- Business
- Forbes
China Market Update: WuXi Apptec Doubles Profit, Childcare Stimulus Launched
CLN Asian equities were mixed overnight as Mainland China's STAR Market and Thailand outperformed, while Vietnam and Pakistan underperformed. Trade representatives from the US and China completed two days of talks that had the expressed purpose of extending the August 1st deadline for a trade deal. Most analysts are saying that a 90-day extension is likely. The global economy has weathered the tariffs better than expected so far, though it is important to remember the level of exemptions granted to key product areas, especially for China. We need a deal, but the negotiators are taking their time, which will hopefully result in the best possible outcome. Fingers crossed! Recent outperformers were sold off today, except for health care. Viral Labubu doll-maker Pop Mart was net sold by Mainland investors via Southbound Stock Connect, who likely took profits in the name. Meanwhile, insurance companies were also sold off following a strong rally yesterday on lower interest rate guidance for insurance contracts. Internet stocks were mostly lower as we head into earnings season next month. However, some price targets for video platform Kuaishou were raised, though the stock was down overnight. WuXi Apptec indicated that its net profit for the first half 2025 more than doubled. The stock was up +11.25% in Hong Kong overnight. WuXi Apptec has seen significant tailwinds this year, along with its co-named peer WuXi Biologics. These include the removal of an extreme geopolitical overhang on Wuxi Biologics and Apptec: the proposed BIOSECURE Act, which would have barred it from working with US entities receiving federal medicare and medicaid dollars. It is estimated that one-third of all the drugs on the US market today passed through China-based contract research labs, such as WuXi Apptec and Biologics. They are based in China but have facilities all over the world, including in the United States. China committed new capital to increasing the birth rate. The government will now allocate RMB 3,600 annually for families with children under three. Related stocks cheered the news. Does this count as additional stimulus for consumption? Indirectly, yes. The lack of a social safety net and deflation are the primary reasons China's consumers hesitate to increase spending significantly. New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
