Zhongxin Finance, February 8. On the 8th, WuXi Biologics issued a statement in response to being included in the "Unverified List" of the U.S. Department of Commerce.
Screenshot from WuXi Biologics WeChat Official Account.
The statement said the "unverified list" is not the more commonly known U.S. "entity list" or "blacklist."
WuXi Biologics has been importing certain hardware controllers for bioreactors and certain hollow fiber filters, which are subject to U.S. export controls but have been approved by the U.S. Department of Commerce for the past 10 years.
We comply with all US export control regulations.
We will not re-export or resell these items to any other entity.
The U.S. Department of Commerce has a set of routine procedures to verify the proper use of these in the field (ie, for own use, not for resale).
The process has not been completed for the past two years due to the COVID-19 pandemic.
The statement also said that this will not affect our business or continued service to our global partners.
Plus, the impact on our imports is minimal.
We welcome checking to clear and remove from such lists at any time.
We are also taking temporary steps to remove these subsidiaries from the list pending inspections.
Affected by this incident, the Hong Kong stock WuXi Biologics once fell by more than 30% during the session on the 8th. As of press time, trading in Hong Kong was suspended; WuXi AppTec A shares fell by the limit after the opening, at 94.05 yuan.
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