HK Stock Market Move | Joinn Laboratories (06127) continues to rise by over 4%. The stock price has increased by over 30% this month. The company is expected to benefit from the fair value gains in monkey prices.

Joinn Laboratories (06127) rose more than 4%, and its stock price has increased by over 30% this month. As of the time of this report, it has risen by 4.04% to HK$22.14, with a trading volume of HK$2.08 billion. In terms of news, according to the Beijing Business Daily, the price of experimental monkeys on December 9 showed an accelerating trend, reaching approximately 140,000 yuan per monkey. Founder pointed out that experimental monkeys are a rigid resource for preclinical safety evaluation, and with the steady recovery of preclinical CRO orders, demand is increasing. In addition, the short-term difficulty in expanding production on the supply side, with some monkey farms indicating that production capacity has been booked up to the first quarter of 2026, it is expected that the tight supply-demand situation may persist, and short-term prices are expected to continue to rise. According to Founder's calculations, taking Joinn Laboratories as an example, assuming that the fair value is calculated based on the average price of experimental monkeys in 2024 at 84,900 yuan per monkey, with prices rising to 140,000 yuan per monkey in Q4 of 2025, and assuming a slaughter rate of 17% for the monkey farm, based on the known 23,200 monkeys, it is estimated that there will be an additional fair value of approximately 220 million yuan in 2025 (not considering the impact of new monkeys added and underage & elderly monkeys).