WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKEX: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), has unveiled an impressive 2023 performance forecast following its recent listing on the Hong Kong stock exchange. The company anticipates a more than 100% surge in revenues, with net profits and adjusted net profits expected to escalate by over 80% and 100%, respectively.
This projected growth is attributed to the thriving antibody drug conjugate (ADC) industry and the company’s competitive edge in program development. Since its Hong Kong debut in November 2023, WuXi XDC has secured multiple product performance qualification (PPQ) programs, underscoring its robust pipeline and development capabilities. The complete financial results for 2023 are slated for release at the end of March, which will provide a comprehensive view of the company’s performance over the year.- Flcube.com
