Wednesday's Asia ADR Recap: Tata Motors

China's largest retail drugstore chain, China Nepstar Chain Drugstore (NPD Quote), announced its first-quarter net income soared 304% to $8 million and revenue jumped 16.8% to $77 million, despite a decrease in store traffic and out-of-stock issues caused by some of the most severe snowstorms to ever hit China. China Drugstore said first-quarter gross profit increased 47% to $37 million and gross margins hit 47.8%, vs. 37.7% from a year earlier. Looking ahead, the company said second-quarter revenue should come in between $79 million and $84 million and net income should fall in the range of $9 million to $9.3 million. Shares of China Nepstar added 6.4% to $13.25 on heavy volume.

Shanghai-based pharmaceutical and biotechnology research and development outsourcing company WuXi PharmaTech (WX Quote) announced its first-quarter net revenue surged 68.7% to $57.1 million and first-quarter net income soared 131.9% to $13.9 million due to strong global demand for the company's core discovery chemistry and process research services and testing services from the AppTec acquisition. Looking forward, WuXi said 2008 revenue should come in between the range of $280 million to $300 million, vs. Wall Street estimates of $290.89 million. Shares of WuXi dropped 4.6% to $20.76 on above-average trading volume.

Some big gainers among China-based stocks Wednesday were Agria (GRO Quote), which added 7.8% to $4.70; Xinyuan Real Estate Co. (XIN Quote), which climbed 7.6% to $8.92; Sohu.com (SOHU Quote), which rose 7.2% to $83.33; and eFuture Information Technology (EFUT Quote), which closed up 6% at $16.90.

Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.

For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.