{"id":30674,"date":"2022-06-15T23:47:00","date_gmt":"2022-06-15T15:47:00","guid":{"rendered":"https:\/\/flcube.com\/?p=30674"},"modified":"2025-03-26T23:51:59","modified_gmt":"2025-03-26T15:51:59","slug":"wuxi-apptec-faces-shareholder-divestment-of-up-to-3-stake","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=30674","title":{"rendered":"WuXi AppTec Faces Shareholder Divestment of Up to 3% Stake"},"content":{"rendered":"\n

China-based Contract Research Organization (CRO) WuXi AppTec Co., Ltd (SHA: 603259<\/a>, HKG: 2359<\/a>) has disclosed that a group of shareholders plans to divest up to 3% of their holdings in the company. This translates to the auctioning of up to 88.68 million A shares in blocks, representing RMB 9.12 billion (USD 1.25 billion) of WuXi\u2019s market value. The shareholders are acting following the expiration of a lock-up period that has been in place since 2018.<\/p>\n\n\n\n

Shareholder Sales and Market Reaction<\/strong>
According to the official notice, the shares are being sold due to the capital requirements of the involved parties. Notably, another shareholder, Shanghai Ying Yi Investment Center (L.P.), previously offloaded 17.25 million shares for RMB 2.9 billion in May this year. Following the announcement of the latest divestment plan, WuXi\u2019s share price fell by 9.56%. Additionally, other Contract Research\/Development and Manufacturing Organizations (CROs\/CDMOs) experienced share price declines of at least 4%, including JOINN Laboratories (China) Co., Ltd (HKG: 6127<\/a>), Asymchem Laboratories (Tianjin) Co., Ltd (SHE: 002821<\/a>), Hangzhou Tigermed Consulting Co., Ltd (SHE: 300347<\/a>), and Shanghai Medicilon Inc. <\/p>\n\n\n\n

Financial Performance Amid Share Price Decline<\/strong>
Despite the insider sales, WuXi has reported strong financial performance in recent quarters. In 2021, the company generated RMB 22.9 billion (USD 3.4 billion) in revenues, marking a 38.5% year-on-year (YOY) increase, while net profits surged by 72.19% YOY to RMB 5.09 billion (USD 757 million). In the first quarter of 2022, revenues climbed 71.18% to RMB 8.47 billion (USD 1.26 billion), although net profits rose more modestly by 9.54% to RMB 1.64 billion (USD 244 million). Nevertheless, WuXi\u2019s share price has been in decline since July 20, 2021, hitting a record low of RMB 93 (USD 13.84) per share earlier this week, a 50% drop from last year\u2019s high when its market capitalization stood at RMB 274.9 billion (USD 40.9 billion). The share price fall is attributed to concerns about the future market prospects of China-made innovative drugs, both domestically and internationally.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China-based Contract Research Organization (CRO) WuXi AppTec Co., Ltd (SHA: 603259, HKG: 2359) has disclosed…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,61],"tags":[19,20,951,3929,593,493,1078,1386,948,244,362],"class_list":["post-30674","post","type-post","status-publish","format-standard","hentry","category-company","category-legal-ip","tag-cro-cmo-cdmo","tag-finance","tag-hkg-2359","tag-hkg-6127","tag-joinn-laboratories","tag-medicilon-biomedical","tag-sha-603259","tag-she-002821","tag-she-300347","tag-tigermed","tag-wuxi-apptec"],"yoast_head":"\nWuXi AppTec Faces Shareholder Divestment of Up to 3% Stake - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"China-based Contract Research Organization (CRO) WuXi AppTec Co., Ltd (SHA: 603259, HKG: 2359) has disclosed that a group of shareholders plans to divest up to 3% of their holdings in the company. 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