Changes in Hong Kong stocks | Zhaoyan Pharmaceutical (06127) rises by more than 11%; experimental monkey faces price increases, out of stock, and CRO is expected to experience marginal improvements

The Zhitong Finance App learned that Zhaoyan New Pharmaceutical (06127) rose by more than 11%. As of press release, it had risen 11.42% to HK$19.8, with a turnover of HK$129 million.

According to news, in early December, the unit price of crab-eating monkeys quietly surpassed the 100,000 yuan mark. According to an investigation by the Red Star Capital Bureau, we learned from many experimental monkey breeding companies in Guangdong, Guangxi, Yunnan, etc., that there is a shortage of supply of crab-eating monkeys, and their value has risen to 120,000 to 130,000 yuan. Some monkey farms said that the monkeys for the first half of next year have already been ordered. A previous research report by Huatai Securities pointed out that with the subsequent widening gap between supply and demand, the monkey price may gradually enter a new upward cycle (as high as 150,000 yuan/unit in 22 years).

Huatai Securities believes that Zhaoyan New Drug is a leader in the field of non-clinical safety evaluation in China, and continues to enhance its influence in domestic and overseas markets with excellent service capabilities. After a period of high performance growth in 18-22, and order volume and price adjustments in 23-25, the shortfall gradually cleared up. Starting in '26, it is expected to enter a new round of growth channel with domestic recovery (boom in BD going overseas, rising number of IND) + overseas offshoring two-wheel drive. The rise in the price of experimental monkeys, the recovery in new orders, etc. may be the main catalyst for the future. Fangzheng Securities, on the other hand, suggests focusing on stable performance and improving orders. Next year is expected to usher in an inflection point in the sector's security assessment CRO.