Lyon said WuXi AppTec (02359.HK) delivered Q2 results materially above expectations and raised its target price to HK$214.1, maintaining an Outperform rating. Continuing-operations revenue rose 62% YoY and adjusted non-IFRS net profit rose 92% YoY, accelerating from Q1’s 32% and 72% respectively. Management lifted FY2026 continuing-operations revenue guidance from 18–22% to 35–39%, about 20 percentage points above market expectations; TIDES revenue growth guidance was raised from 40% to 45%. Lyo

Lyon said WuXi AppTec (02359.HK) delivered Q2 results materially above expectations and raised its target price to HK$214.1, maintaining an Outperform rating. Continuing-operations revenue rose 62% YoY and adjusted non-IFRS net profit rose 92% YoY, accelerating from Q1’s 32% and 72% respectively. Management lifted FY2026 continuing-operations revenue guidance from 18–22% to 35–39%, about 20 percentage points above market expectations; TIDES revenue growth guidance was raised from 40% to 45%. Lyon raised its FY2026–28 revenue and net-profit forecasts by c.7% and 14–15% to reflect the stronger guidance and faster progress on new drug development and manufacturing projects, improving earnings visibility.