HK Stock Market Move | Joinn Laboratories (06127) fell more than 5%, but still rose more than 20% within the month. Monkey price fair value income is expected to increase significantly.

Joinn Laboratories (06127) fell by more than 5%, with a cumulative increase of over 24% for the month. As of the time of writing, it dropped by 5.53%, to 20.5 Hong Kong dollars, with a turnover of 151 million Hong Kong dollars. On the news front, according to the Beijing Business Daily, the price of experimental monkeys on December 9, 2025 is showing an accelerating upward trend, at approximately 140,000 yuan per monkey. Founder pointed out that as experimental monkeys are a rigid resource for preclinical safety assessment, with the steady recovery of preclinical CRO orders, demand is increasing; and the difficulty of expanding supply in the short term is relatively high, with some monkey farms indicating that production capacity has been reserved until the first quarter of 2026, it is expected that the supply-demand imbalance may be maintained, and short-term prices are expected to further rise. The bank pointed out that taking Joinn Laboratories as an example, assuming the fair value is calculated based on the average price of 84,900 yuan per monkey in 2024 and the price increases to 140,000 yuan per monkey in 2025 Q4, assuming a slaughter rate of 17% for the monkey farm, based on a known 23,200 monkeys, the rough estimate (taking into account the impact of new and underage & elderly monkeys) will add approximately 220 million to the fair value in 2025.