JOINN (06127) surged more than 10%, rising 9.61% to HKD 17.8 by the time of writing, with a turnover of HKD 172 million. Recent reports indicate that the price of cynomolgus monkeys has quietly surpassed the CNY 100,000 mark in early December. Investigations from multiple lab monkey breeding enterprises in Guangdong, Guangxi, and Yunnan reveal a supply shortage, driving prices up to CNY 120,000–130,000. Some farms have already booked out their monkeys for the first half of next year.
According to estimates by Founder Securities, lab monkey supply is projected at 49,000–52,400 annually from 2025 to 2027, while demand is expected to reach 51,300–62,600 per year. The recent rebound in drug R&D has driven up lab monkey usage, while supply-side improvements remain challenging in the short term, potentially widening the supply-demand gap.
In a July research report, China Merchants Securities noted that JOINN's acquisition of monkey farms to integrate its supply chain positions it to benefit from rising lab monkey prices, which could boost future profits.
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