WuXi AppTec Raises 2026 Revenue Guidance to RMB 61.0–61.9 Billion After Strong Q3
WuXi AppTec reported third-quarter 2026 revenue growth of about 38% year on year, with continuing-operations revenue up roughly 43% and adjusted non-IFRS net profit up about 61%, according to brokerage research notes. Backlog reached RMB 76.74 billion at end-September, up 36.4% year on year, accelerating from 25.2% growth in the second quarter. Management raised full-year 2026 revenue guidance to RMB 61.0–61.9 billion and lifted continuing-operations revenue growth guidance to 40%–42%. Citi, CMBI, CLSA, Nomura and Guojin Securities raised target prices or forecasts while maintaining positive ratings.
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Citi Raises WuXi AppTec Target Price on Strong Orders and Growth Outlook
Citi research report states that WuXi AppTec (603259.SS) management raised its FY2026 total revenue guidance to RMB 61.0–61.9 billion, expecting continuing operations revenue to grow 40–42% year-on-year. On a constant currency basis, backlog grew over 40% year-on-year in the first three quarters, while newly signed orders increased over 60% year-on-year. Citi believes AIDD could become a new mid-term revenue source and has raised its 2026–2028 revenue and EPS forecasts. The brokerage lifted its A-share target price to RMB 205 and H-share target price to HKD 240, maintaining a Buy rating.
Read sourceCMBI Report: WuXi AppTec 3Q26 Revenue Up 38%, Backlog Growth Accelerates, 2026 Guidance Raised
A CMBI research report says WuXi AppTec's 3Q26 revenue grew 38.0% year on year, with continuing-operations revenue up 43.5% and adjusted non-IFRS net profit up 61.3%. Backlog reached RMB 76.74 billion as of 3Q26, up 36.4% year on year, accelerating from 25.2% growth in 2Q26. Management raised its 2026 revenue guidance to RMB 61.0-61.9 billion and lifted the continuing-operations revenue growth guidance to 40%-42%. The report attributes the growth to improvements in the chemistry business and early-stage services. CMBI maintains a Buy rating, raises its earnings forecasts, and increases its DCF-based target price to RMB 190.
Read sourceGuojin Securities Raises WuXi AppTec Guidance on Accelerating Orders
Guojin Securities reported that WuXi AppTec's revenue for the first three quarters of 2026 reached 45.54 billion yuan, with adjusted net profit attributable to shareholders of 18.38 billion yuan, up 38.6% and 74.4% year-on-year respectively. Backlog for continuing operations stood at 76.74 billion yuan as of end-September, up 36.4% year-on-year, significantly exceeding expectations. The company raised its full-year revenue guidance for the second consecutive quarter to 61.0-61.9 billion yuan and increased capital expenditure to 8.0-8.5 billion yuan, driven by strong growth in small molecule D&M and TIDES businesses. Guojin Securities expects the company's earnings growth foundation to strengthen and maintains a "Buy" rating.
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CLSA Reiterates Outperform on WuXi AppTec After In-Line Q3 Results
CLSA issued a research report stating that WuXi AppTec's (02359.HK) third-quarter results met expectations, with continuing-operations revenue up 43% year on year, net profit up 136%, and adjusted non-IFRS net profit up 61%. The biggest upside surprise was total backlog growth of 36% year on year in the first nine months, far exceeding market expectations. Management raised its full-year continuing-operations revenue growth guidance to 40%-42% from the previous 35%-39%. CLSA lifted its 2026-28 revenue forecasts by 2%-5%, expecting revenue growth of 51%, 32%, and 20% respectively, and raised net profit forecasts by 5%-10%. The brokerage reiterated its Outperform rating and maintained its H-share target price of HK$262, based on a forecast combined 2026/27 adjusted price-to-earnings ratio of 19 times.
Read sourceNomura Raises WuXi AppTec Target to HK$235.9 on Strong Q3 Beat
Nomura issued a report on October 27 raising its target price for WuXi AppTec (02359.HK) from HK$209.99 to HK$235.9 while maintaining a "Buy" rating, citing better-than-expected third-quarter results. According to Nomura, WuXi AppTec's Q3 revenue and recurring profit grew 38% and 50% year-on-year respectively, while backlog at period-end rose 36% year-on-year, a strong performance that led the company to further raise its guidance. Nomura noted that Q3 sales rose 38% year-on-year to RMB 16.6 billion, above the market expectation of RMB 15.5 billion, still driven by the D&M business, which grew 55% year-on-year to RMB 8.6 billion, while the TIDES business rose 52% year-on-year to RMB 4.3 billion.
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