HK Stock Market Move | CRO concept stocks led the gains: surging BD deals combined with rising wet-lab demand, clear signals of an upward industry cycle.

CRO concept stocks led the gains. As of press time, Joinn Laboratories (06127) rose 13.29% to HK$30.18; GENSCRIPT BIO (01548) rose 10.29% to HK$45.66; Asymchem Laboratories (06821) rose 6.13% to HK$169.60; Hangzhou Tigermed Consulting (03347) rose 5.53% to HK$47.72; WUXI BIO (02269) rose 4.21% to HK$55.75. On the news front, since mid-September, Novo Nordisk, Eli Lilly, and Roche have successively announced progress on their wet-lab collaborations. Market analysis points out that with MNCs and AI Labs intensifying their investments, early-stage drug discovery is shifting from low-frequency validation to high-frequency, high-throughput rapid iteration. This provides sustained industry catalysts for segments such as CRO/CDMO. Notably, recent heavyweight BD deals and strategic collaborations have landed intensively, covering frontier areas such as oral weight loss, RAS, and bispecific antibodies, with each individual deal exceeding US$2 billion. Sinolink believes that currently, with external pressures easing, global investment and financing recovering, and domestic BD continuing to heat up, the industry has entered a new round of recovery and upward cycle characterized by resonance between domestic and external demand, volume ramp-up in new molecule tracks, and quarter-by-quarter improvement in orders and performance. Caitong stated that the AI pharmaceutical transmission chain has entered a positive cycle, with a model of accelerating design, wet-lab validation, and feeding back into AI model iteration having been preliminarily established, benefiting upstream segments such as protein synthesis and preclinical CRO first.