Changes in Hong Kong stocks | Zhaoyan New Pharmaceutical (06127) rose more than 8%, experimental monkey prices are expected to remain tight, and the recent upward trend is expected to maintain tight supply and demand

The Zhitong Finance App learned that Zhaoyan New Pharmaceutical (06127) rose by more than 8%. As of press release, it had risen 8.21% to HK$22.14, with a turnover of HK$398.62 million.

According to the news, recently the market is focusing on crab-eating monkeys as pre-clinical safety assessment test assets. According to Beijing Commercial Daily, the price of experimental monkeys showed an accelerated upward trend on December 9, 2025, about 140,000 yuan/piece. According to a research report released by Fangzheng Securities on December 15, experimental monkeys are a rigid resource for pre-clinical safety assessments, and demand increases as pre-clinical CRO orders pick up steadily; moreover, it is difficult to expand production in the short term on the supply side. Some monkey farms indicated that production capacity has been scheduled until the first quarter of 2026. It is expected that supply and demand will remain tight, and short-term prices are expected to rise further.

Fangzheng Securities believes that leading CRO is rich in strategic resources and is expected to benefit from industry recovery+fair value benefits from monkey prices. Take Zhaoyan New Drug as an example. Assuming that the fair value of 84,900 monkeys is included in the 2024 average price, and the 2025Q4 price increases to 140,000/dog. Assuming that the monkey farm release rate is 17%. According to estimates of the known 23,200 monkeys, Mao estimates (not considering the effects of newly added monkeys and young & elderly monkeys) will add about 220 million fair value in 2025.