企業プロフィール · Healthcare

WuXi AppTec Co Ltd H

2359 · 香港株
その他の上場603259 · 上海
取引所
香港株
国 / 地域
Hong Kong
従業員数
35,584
公式サイト
www.wuxiapptec.com
現在値
HK$212.4
リアルタイム · 2026年10月5日
妥当買付価格
≤ HK$136
安全マージンの起点
ベイリー成長スコア
51/100
標準
Buffett Score
62/100
標準
本源的価値 · 3 段階レンジ 現在値 HK$212.4 リアルタイム · 妥当な本源的価値レンジ内

総合バリュエーションレンジ · 保守的 HK$120–HK$136 / 妥当 HK$185–HK$245 / 楽観的 HK$300–HK$330。HK$212.4 時点で 妥当な本源的価値レンジ内。

レポート公開時 HK$199.1(2026年8月12日)

時価総額HK$6373.3億
売上高(TTM)HK$515.19億
EBITDAHK$257.28億
純利益率42.26%
ROE28.37%
PER (TTM)24.33
予想PER19.34
EPSHK$7.49
配当利回り0.97%
52週レンジHK$95.17 – HK$218.40

データ提供:EODHD、報告通貨で表示。参考情報であり、投資助言ではありません。

WuXi AppTec Co., Ltd., an investment holding company, provides research and manufacturing services to discover, develop, and manufacture spectrum for small molecule drugs in the People's Republic of China, the United States, Europe, and internationally. The company operates through WuXi Chemistry, WuXi Testing, WuXi Biology, and Others segments. It offers contract research, development, and manufacturing organization (CDRMO) services for new drug development from discovery to commercial covering various categories for various synthetic molecular modalities, including small molecules, oligonucleotides, peptides, and complex conjugates; and biology services and solutions which support stand-alone and integrated projects from target discovery to candidate selection and into the clinic. The company also provides laboratory testing services, such as toxicology, DMPK, and bioanalytical services; clinical contract research organization services, including Phase I to Phase IV clinical development services, and bioequivalence for products including pharmaceuticals and biologics; and site management organization, patient recruitment, site start-up, and academic research organization. In addition, it offers services for biology; CDRMO platform for small molecules, oligonucleotides, and peptides; drug research and development testing; and clinical research services. WuXi AppTec Co., Ltd. was founded in 2000 and is headquartered in Shanghai, the People's Republic of China.

沿革

WuXi AppTec was founded in 2000 when Li Ge returned to China and, with co-founders Liu Xiaozhong and Zhang Zhaohui, established its R&D base in Wuxi and an operations center in Shanghai, starting as a chemistry-synthesis CRO serving overseas drug makers. It listed on the NYSE in August 2007 (US$14 per ADS), was taken private in 2015 at a market capitalization of about US$3.3 billion, and was split into multiple platforms before returning to the A-share market in May 2018 (offer price 21.6 yuan) and listing H shares in December 2018 (offer price HK$68, net proceeds of about HK$7.55 billion). The company is headquartered in Shanghai and employs 33,834 people.

業界での地位

WuXi AppTec is a global contract research, development and manufacturing (CRDMO) provider for small-molecule drugs, operating through WuXi Chemistry, WuXi Testing, WuXi Biology and Others segments. Its global small-molecule CDMO market share is about 9.6% (IQVIA), and it holds roughly 35% of China's small-molecule CDMO market, ranking first; over the past five years about 21% of FDA-approved small-molecule new drugs involved the company. In 2025 it carried 3,452 molecules in its small-molecule pipeline, and its adjusted gross margin of 48.2% and net margin of 32.9% were the highest among global CXO peers.

51/100 ホールド WuXi AppTec Co., Ltd.: Chemistry Resets the Earnings Base, the U.S. Question Stays Open, and HK$199.10 Leaves No Conservative Discount WuXi AppTec is China's largest integrated drug-discovery, development and manufacturing contractor, monetising a 3,731-molecule small-molecule funnel as customer programs move into commercial production. H1 2026 revenue rose 38.9% and adjusted net profit 83.2% to a 40.0% margin, prompting management to lift full-year revenue guidance from CNY51.3-53.0bn to CNY58.5-60.5bn. Rating Hold: at HK$199.10 the shares sit just below the HK$200-230 base intrinsic-value band and inside the HK$185-245 acceptable-hold zone, with no discount to the HK$150-170 conservative case, while U.S. customers supplied about 72% of 2025 continuing revenue. WuXi AppTec Co., Ltd.2359 · 香港株Pharma R&D Outsourcing2026年8月12日 46/100 ウォッチ WuXi AppTec Zen Horizon Framework Deep Dive: A Fine Business, a Fair Price, and an Unresolved Geopolitical Catch WuXi AppTec is the global leader in small-molecule CRDMO, with the highest gross margin among peers and core recurring net profit still up 32.6%. The central thesis is that the business quality remains high, but the H-share price of HKD 125.6 sits only inside a neutral valuation band, lacks a margin of safety, and still carries unresolved BIOSECURE/1260H binary geopolitical risk plus ongoing controlling-shareholder selling. Research rating Watch: a high-quality compounder worth monitoring, but current price and unresolved tail risk do not justify a new-position entry. WuXi AppTec Co., Ltd.2359 · 香港株Pharma R&D Outsourcing2026年6月5日