Ng Lai-yin: WuXi AppTec worth watching on pullback

WuXi AppTec (2359) first-half revenue rose 38.9% year on year, while net profit attributable to shareholders rose 33.7% year on year. Gross margin rose 9.4 percentage points year on year to 53.2%, mainly due to continuous optimisation of production processes and capacity efficiency improvements driven by growth in late-stage clinical and commercialisation projects.