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WuXi AppTec(2359): 2025 revenue reached RMB 45.4 billion, a year-on-year increase of 15.8%, slightly exceeding the market forecast of RMB 45.0 billion. Benefiting from improved capacity utilization and substantial investment gains, net profit attributable to owners of the parent company reached RMB 19.1 billion, a sharp year-on-year increase of 105.2%, significantly outperforming the market expectation of RMB 16.51 billion. Overall gross margin also climbed to 47.0%, better than the expected 45.36%. Looking ahead to 2026, the company projects total revenue of RMB 51.3 billion to 53 billion. Although its current order backlog from continuing operations reaches RMB 58 billion, the outlook remains challenging due to intensified competition in the pharmaceutical outsourcing industry and lingering risks from international policy changes affecting global operations.
Trump Claims "Good and Constructive" Talks with Iran on Social Media
US stocks rebounded significantly last night amid a temporary easing of tensions in the Middle East, led by technology and growth stocks, reflecting a recovery in risk appetite. Following Trump's social media post claiming "good and constructive" talks with Iran, crude oil futures plummeted by over 10% in a single day. In the minutes leading up to the post, trading volume in stock indices and oil futures surged, raising concerns about potential insider trading and regulatory risks. While the sharp drop in oil prices temporarily eased inflation and interest rate pressures and supported the performance of highly valued growth stocks and US stock indices, it also increased uncertainty regarding energy stock earnings and the risk of capital expenditure contraction.
Hong Kong Stock Connect saw a net inflow of HK$297 million on Monday, with the Tracker Fund of Hong Kong (2800) experiencing the largest net inflow at HK$13.27 billion, followed by the Southern Hang Seng Technology ETF (3033). SMIC (0981) faced the largest net outflow at HK$520 million, followed by Alibaba (9988).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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