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    2269   KYG970081173

WUXI BIOLOGICS (CAYMAN) INC.

(2269)
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Delayed Hong Kong Stock Exchange  -  10:46 2022-11-30 pm EST
50.35 HKD   +0.40%
11/25WuXi Biologics Inc. Announces Demise of Teh-Ming Walter Kwauk, Independent Non-Executive Director, the Chairman of the Audit Committee of the Company and A Member of the Nomination Committee of the Company
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11/24WuXi Biologics Receives 2022 'Prime Employers for Women' Silver Award
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11/23Wuxi Biologics Inc. Announces Appointments to Strategy Committee
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Wuxi Biologics Shares Jump After Buyback Plans

09/25/2022 | 11:21pm EST

By Yifan Wang


Shares of Wuxi Biologics (Cayman) Inc. jumped in early Hong Kong trade, after the Chinese biotech company unveiled plans to buy back its shares.

The stock at one point was up as much as 6.1% and was last 4.6% higher at HK$48.55.

The upturn came after Wuxi Biologics on Monday said it will buy back shares for up to $300 million in the open market. "The Board considers that the current trading price of the shares does not reflect their intrinsic value," the company said, adding the repurchase plan is a reflection of its "confidence in its strong growth prospects."

Monday's share gains were a respite for Wuxi Biologics' shares, which suffered a three-day losing streak last week and lost over 30% so far this month. The company, which provides research and manufacturing services to many global pharmaceutical companies, has been hurt by rising global interest rates and signs of increased U.S.-China tensions in the biotech sector.

Earlier this month, U.S. President Biden signed an executive order to boost the U.S. domestic biotech manufacturing and avoid risks posed by foreign adversaries, raising investors' worries over Chinese biotech companies' geopolitical risk and sending Wuxi Biologics shares tumbling by nearly 20% in a day.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

09-25-22 2320ET

All news about WUXI BIOLOGICS (CAYMAN) INC.
11/25WuXi Biologics Inc. Announces Demise of Teh-Ming Walter Kwauk, Independent Non-Executiv..
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11/24WuXi Biologics Receives 2022 'Prime Employers for Women' Silver Award
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11/23Wuxi Biologics Inc. Announces Appointments to Strategy Committee
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11/11WuXi Biologics Receives Fourth Consecutive 'Most Honored Company' and Other Top Awards ..
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11/02Domestic share buyers step in as foreign funds flee China
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10/23WuXi Biologics Releases New cGMP Drug Product Manufacturing Facility to Support End-To-..
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10/20WuXi XDC Receives Best CMO Provider Runner Up Prize at 2022 World ADC Awards
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10/17WuXi Biologics Receives 'Best CDMO Award of the Year'
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Analyst Recommendations on WUXI BIOLOGICS (CAYMAN) INC.
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Financials
Sales 2022 15 259 M 2 154 M 2 154 M
Net income 2022 4 802 M 678 M 678 M
Net cash 2022 4 916 M 694 M 694 M
P/E ratio 2022 40,7x
Yield 2022 -
Capitalization 192 B 27 117 M 27 117 M
EV / Sales 2022 12,3x
EV / Sales 2023 8,84x
Nbr of Employees 10 593
Free-Float 84,4%
Chart WUXI BIOLOGICS (CAYMAN) INC.
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Technical analysis trends WUXI BIOLOGICS (CAYMAN) INC.
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 29
Last Close Price 45,52 CNY
Average target price 90,85 CNY
Spread / Average Target 99,6%
EPS Revisions
Managers and Directors
Zhi Sheng Chen Director
Ming Tu Chief Financial Officer & Executive Vice President
Ge Li Non-Executive Chairman
Weichang Zhou Chief Technology Officer & Executive Director
William Robert Keller Independent Non-Executive Director