In today’s briefing:
- Wuxi Biologics (2269 HK): Lowered 2023 Revenue Expectation Amid Challenging Industry Outlook
- Alpha Generation Through Share Buybacks in Korea: October & November 2023
- QuantumPharm (XtalPi) Pre-IPO Tearsheet
- Wuxi Biologics (2269.HK) – The Business Update Has Torn Away the Last Fig Leaf
Wuxi Biologics (2269 HK): Lowered 2023 Revenue Expectation Amid Challenging Industry Outlook
- Wuxi Biologics (2269 HK) has guided for weaker-than-expected revenue and lower profit in 2023, as the operating industry is facing near-term challenges due to biotech funding slowdown.
- $300 million lesser revenue in development business due to reduced number of projects and manufacturing revenue deficit of $100 million due to CMO deferral contributed to the miss.
- Following the announcement, Wuxi Biologics shares nosedived 24% on HK stock exchanges, marking its biggest one-day slide since listing in 2017.
Alpha Generation Through Share Buybacks in Korea: October & November 2023
- In this insight, we discuss the alpha generation through companies that announced share buybacks in Korea in October and November 2023.
- We provide a list of 24 stocks in the Korean stock market that have announced share buyback programs in October and November 2023.
- The top five market cap stocks that have announced share repurchases include Celltrion Inc, Celltrion Healthcare, Shinhan Financial, Amore Pacific Corp, and Mirae Asset Securities.
QuantumPharm (XtalPi) Pre-IPO Tearsheet
- QuantumPharm (QUP HK) is looking to raise US$200m in its upcoming Hong Kong IPO. The bookrunner on the deal is Citic Securities.
- QuantumPharm is a R&D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&D solutions.
- Its solutions and services cater to the pharmaceutical and material science (including agritech, energy and new chemicals, and cosmetics) industries and beyond.
Wuxi Biologics (2269.HK) – The Business Update Has Torn Away the Last Fig Leaf
- It seems that investors have completely lost patience with WuXi Bio after the Company made new business updates. WuXi Bio’s transparency, communication strategy and expectation management need to be improved.
- Although the decline in performance is an important reason for the sharp drop in stock price, we think there’re still some deep-seated reasons that investors should pay extra attention to.
- Fed’s interest rate cut doesn’t necessarily mean immediate improvement in financing environment. In the CXO industry downcycle, whether WuXi Bio can achieve positive turnaround in 24H2 remains to be seen.
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