According to the intelligence financial app, CRO concept stocks collectively rebounded. As of the time of publication, Kanglong Huacheng (03759) rose 4.57% to HK$9.38; WuXi AppTec (02359) rose 4.04% to HK$33.5; Frontage Holdings (01521) rose 3.57% to HK$0.58; Asymchem Laboratories (06821) rose 3.21% to HK$40.25; Wuxi Biologics (02269) rose 2.38% to HK$11.16.

On September 10, in terms of news, WuXi AppTec announced that in order to further safeguard the company's value and shareholder rights, the company plans to repurchase shares with its own funds, with a total amount of 1 billion yuan and a repurchase price not exceeding 61.02 yuan/share. It is worth mentioning that this is the third A-share cancellation repurchase plan of billion yuan level by WuXi AppTec this year. Prior to this, WuXi AppTec completed the first two repurchase plans on February 5 and May 22, with a total repurchase of 2.9 billion yuan of A-shares.

Previously, the U.S. House of Representatives passed the Biosecurity Act, which included five Chinese companies, including WuXi AppTec. However, the bill still needs to be voted on by the Senate and the versions passed by both houses need to be reconciled before it is submitted to the U.S. President for signing into law. Citigroup pointed out that it is currently unclear whether the U.S. Senate will adopt the House version of the Biosecurity Act or another version, or add a larger bill to the Biosecurity Act. The bank believes that the stock prices of WuXi AppTec and Wuxi Biologics are undervalued, but uncertainty affects investors' confidence in the CRO sector.