HK Stock Market Move | Joinn Laboratories (06127) rose more than 7%, with a cumulative increase of nearly 60% in the past month. The company is expected to benefit from fair value gains.

Joinn Laboratories (06127) continues to rise by over 7%, with the stock price increasing by nearly 60% in the past month. As of the time of writing, it has risen by 7.02% to HK$25.92, with a trading volume of HK$2.03 billion. In terms of news, Sealand points out that during the safety assessment phase, new technology platforms such as large molecules (multi-antibody, ADC), small nucleic acids, peptides, and cell gene therapy all require crab-eating macaques to simulate human beings for safety assessment testing of drug safety data. Currently, the price of crab-eating monkeys around 3-5 years old has increased to HK$140,000 per monkey, leading to a situation of supply exceeding demand, further confirming the recovery of the domestic innovative drug development industry. The increase in monkey prices will also directly contribute to profits due to fair value changes. According to Founder's calculations, taking Joinn Laboratories as an example, assuming that the fair value includes an average price of HK$84,900 per monkey in 2024, with the price rising to HK$140,000 per monkey in 2025 Q4, assuming a culling rate of 17%, based on the known 23,200 monkeys, the estimated additional fair value in 2025 is approximately HK$220 million.