Company Profile · Healthcare

WuXi XDC Cayman Inc

2268 · HK
Industry
Pharma Manufacturing Outsourcing (CDMO)
Exchange
HK
Country
Hong Kong
Employees
2,662
Website
wuxixdc.com
Current Price
HK$46.7
Live · Jun 18, 2026
Fair Buy
≤ HK$34
Margin-of-safety entry
Baillie Growth Score
48/100
Weak
Intrinsic Value · Three-Tier Range Current price HK$46.7 Live · Between the conservative and fair ranges

Composite valuation range · conservative HK$31–HK$34 / fair HK$47–HK$64 / optimistic HK$87–HK$95. At HK$46.7, Between the conservative and fair ranges.

At publication HK$48.3 (Jun 17, 2026)

Research on this stock
WuXi XDC Cayman Inc.
2268 · HK
Hold
WuXi XDC: Scaling the ADC Manufacturing Network

WuXi XDC is a Hong Kong-listed bioconjugate CRDMO spun out of the WuXi complex that turns ADC discovery and CMC work into higher-value late-stage and commercial manufacturing, reaching RMB 5.94 billion of 2025 revenue. The investment debate centers on price rather than ADC demand: 2025 backlog grew 50.3% to US$1.489 billion and global market share climbed from 9.9% in 2022 to more than 24%, yet the stock trades around 37x trailing and 24x 2026 earnings while carrying a persistent WuXi geopolitical discount and a capex-heavy pivot into overseas commercial supply. Rating Hold: the ADC CRDMO franchise is strong and still scaling, but the current price already anticipates a large share of the next commercial leg.

Pharma Manufacturing Outsourcing (CDMO) Baillie 48 Jun 17, 2026
About the company

WuXi XDC Cayman Inc., an investment holding company, operates as a contract research, development, and manufacturing organization in China, North America, Europe, and internationally. It engages in the discovery, research, development, and manufacture of the drug substances and drug products of antibody drug conjugates, bioconjugates, monoclonal antibody intermediates, and payload-linkers associated with bioconjugates. It also provides international sales contracting services. Additionally, the company engages in the research and development, manufacturing, and marketing of anti-tumor drugs. WuXi XDC Cayman Inc. has a strategic collaboration with Earendil Labs; and Akari Therapeutics. The company was founded in 2013 and is headquartered in Wuxi, China. WuXi XDC Cayman Inc. is a subsidiary of WuXi Biologics (Cayman) Inc. WuXi XDC Cayman Inc. operates as a subsidiary of WuXi Biologics (Cayman) Inc.

Financial snapshot
Market capHK$69B
Revenue (TTM)HK$5.94B
EBITDAHK$1.77B
Profit margin24.91%
ROE17.05%
P/E (TTM)42.12
Forward P/E30.58
PEG0
EPSHK$0.57
52-week rangeHK$38.80 – HK$85.50

Data from EODHD, shown in the reporting currency; for reference only, not investment advice.

Background

History

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Industry position

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