HK Stock Market Move | Joinn Laboratories (06127) rose by over 4% during intraday trading, the security assessment industry may see a simultaneous increase in volume and price, and the company's new signing order amount continues to grow compared to the previous month.

Joinn Laboratories (06127) rose more than 4% during the session, as of the deadline for this report, it rose 1.85% to HKD 22.08, with a trading volume of HKD 56.8494 million. Changjiang released a research report stating that the current safety evaluation industry may see a simultaneous rise in quantity and price. From the perspective of quantity, the improvement of investment and financing ecology of innovative pharmaceutical companies has increased the industry's willingness to invest in research and development through the emergence of BD activities, driving the innovative pharmaceutical industry chain into a new phase of prosperity. From the perspective of price, the supply of experimental monkeys continues to decrease, while demand is stabilizing and increasing, leading to a widening supply-demand gap. The price of monkeys is trending upwards, and the safety evaluation business, which highly depends on experimental monkey resources, is experiencing a simultaneous rise in quantity and price. Joinn Laboratories is the leading non-clinical safety evaluation CRO in China. In terms of performance in 2025, Joinn Laboratories had a revenue of 1.658 billion yuan, a year-on-year decrease of 17.87%; a net profit of 298 million yuan attributable to the owner of the parent company, a year-on-year increase of 302.08%; and a non-net profit of 311 million yuan, a year-on-year increase of 1221.30%. Changjiang pointed out that the significant increase in the fair value changes of biological assets has greatly increased the company's profit, contributing a profit of 476 million yuan for the whole year. In terms of business highlights, the explosive growth in the amount of new signed orders in the fourth quarter of 2025. The amount of new signed orders in the fourth quarter of 2025 reached 960 million yuan, an increase of 118.2% year-on-year, approaching the highest level in history. The amount of new signed orders from the first to the fourth quarter of 2025 continued to increase month-on-month, and the year-on-year growth rate continued to accelerate.