Group 1 - The company, Zhaoyan New Drug (603127), confirmed its capability to undertake relevant projects due to its OECD GLP certification [1]

Group 1 - A-shares and Hong Kong stocks experienced a significant rebound, with the Shanghai Composite Index rising by 1.19% and the Hang Seng Index increasing by 0.92% [1] - The largest medical ETF in the market (512170) and the only drug ETF (562050) both rose over 1%, indicating a broad recovery in the medical sector [1] - The medical ETF (512170) showed a strong technical signal with a "bullish engulfing" pattern, suggesting a potential trend reversal [1] Group 2 - The pharmaceutical sector in A-shares also saw a surge, with the drug ETF (562050) rising by 1.19%, driven by contributions from innovative and traditional Chinese medicine stocks [3] - The drug ETF (562050) has approximately 25% weight in traditional Chinese medicine, which helps mitigate the volatility of the overall pharmaceutical index [3] Group 3 - The Hong Kong innovation drug sector is showing signs of recovery, with the Hong Kong innovation drug ETF (520880) successfully closing in the green, attracting "bottom-fishing" funds [5] - The fund size of the Hong Kong innovation drug ETF (520880) reached a new high of 4.172 billion shares, reflecting strong investor interest [5] Group 4 - The A+H pharmaceutical sector has been in a correction phase for three months, and analysts suggest that this may be an opportune time for medium to long-term investments in pharmaceutical assets [8] - Recent positive developments in the pharmaceutical industry include overseas collaborations and increasing demand for CXO services, indicating a favorable outlook for the sector [9] Group 5 - The fund manager of the Hong Kong innovation drug ETF (520880) maintains a balanced allocation strategy, highlighting the potential for recovery in the innovative drug industry and related sectors [10] - New investment tools, such as the Hong Kong medical ETF (159137), are being launched to track the medical innovation theme, covering various core leaders in the medical field [7]

Group 1 - The core viewpoint of the article highlights the significant rise in the stock price of Zhaoyan New Drug (6127.HK), which increased nearly 10% to HKD 22.48, marking a two-month high, with a cumulative increase of over 30% in December, leading to a total market capitalization of HKD 16.86 billion [1] - The price of experimental monkeys has surged, with the cost of 3-5 year old crab-eating macaques reaching HKD 140,000 each, indicating a supply-demand imbalance this year [1] - The recovery in the CRO (Contract Research Organization) industry and the upward cycle of innovative drugs are contributing factors to the rising prices of experimental monkeys, with several CRO companies, including Zhaoyan New Drug and Yinos, having substantial resources in this area [1] Group 2 - According to Founder Securities, leading CROs with rich strategic resource reserves are expected to benefit from the industry recovery and the fair value gains from monkey prices [1] - For Zhaoyan New Drug, assuming an average price of HKD 84,900 per monkey in 2024 and an increase to HKD 140,000 by Q4 2025, with an estimated output rate of 17% from 23,200 monkeys, the projected new fair value in 2025 could be approximately HKD 220 million [1]

Group 1 - The core viewpoint of the article highlights the significant rise in the stock price of Zhaoyan New Drug (6127.HK), which increased nearly 10% to HKD 22.48, marking a two-month high, with a cumulative increase of over 30% in the month, resulting in a total market capitalization of HKD 16.86 billion [1] - The price of experimental monkeys has surged, with the cost for 3-5 year old crab-eating macaques reaching HKD 140,000 each, indicating a supply-demand imbalance this year [1] - The increase in monkey prices is linked to the upward cycle of innovative drugs and the recovery of orders in the CRO industry, with several CRO companies, including Zhaoyan New Drug and Yinos, having substantial resources in experimental monkeys [1] Group 2 - According to Founder Securities, leading CROs with rich strategic resource reserves are expected to benefit from the industry recovery and the fair value gains from monkey prices [1] - For Zhaoyan New Drug, assuming an average price of HKD 84,900 per monkey in 2024 and an increase to HKD 140,000 by Q4 2025, with an estimated output rate of 17% from a known 23,200 monkeys, the projected new fair value in 2025 could be approximately HKD 220 million [1]

Core Viewpoint - The stock of Zhaoyan New Drug (06127) has risen over 8%, currently trading at 22.14 HKD, with a transaction volume of 39.86 million HKD, driven by increasing demand for preclinical safety evaluation assets, specifically macaques [1] Group 1: Market Dynamics - The price of experimental macaques has shown a rapid upward trend, reaching approximately 140,000 RMB per macaque as of December 9, 2025 [1] - The demand for macaques, a critical resource for preclinical safety evaluations, is expected to increase as orders for preclinical CROs recover steadily [1] - Supply-side expansion is challenging in the short term, with some macaque farms indicating that their production capacity is already booked until Q1 2026, suggesting a tight supply-demand balance that may lead to further price increases [1] Group 2: Company Insights - Leading CROs with abundant strategic resource reserves are likely to benefit from the industry's recovery and the fair value gains from macaque prices [1] - For Zhaoyan New Drug, assuming an average price of 84,900 RMB per macaque in 2024 and an increase to 140,000 RMB by Q4 2025, the estimated new fair value addition in 2025 could be around 220 million RMB, based on a known population of 23,200 macaques and a 17% output rate [1]

每经AI快讯，昭衍新药(06127.HK)涨超8%，截至发稿涨8.21%，报22.14港元，成交额3986.2万港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - The stock of Zhaoyan New Drug (06127) has risen over 8%, currently trading at HKD 22.14, with a transaction volume of HKD 39.86 million, driven by increasing demand for experimental monkeys used in preclinical safety evaluations [1] Group 1: Market Dynamics - Recent reports indicate a significant increase in the price of experimental monkeys, reaching approximately HKD 140,000 each as of December 9, 2025, due to rising demand and limited supply [1] - According to a report from Founder Securities, the demand for experimental monkeys is expected to rise as preclinical CRO orders recover, while supply-side expansion remains challenging [1] - Some monkey breeding facilities have indicated that their production capacity is already booked until the first quarter of 2026, suggesting a sustained tight supply situation [1] Group 2: Financial Implications - Founder Securities estimates that the fair value of experimental monkeys could increase from an average of HKD 84,900 per monkey in 2024 to HKD 140,000 by Q4 2025, with a projected output rate of 17% from breeding facilities [1] - Based on the known quantity of 23,200 monkeys, the estimated additional fair value for 2025 could reach approximately HKD 220 million, not accounting for new additions or the impact of juvenile and aging monkeys [1]

Core Viewpoint - The stock of Zhaoyan New Drug (603127) has increased by over 8%, reaching HKD 22.14, driven by rising demand for experimental monkeys used in preclinical safety evaluations [1] Group 1: Market Dynamics - The price of experimental monkeys has been on an accelerating upward trend, currently around RMB 140,000 per monkey as of December 9, 2025 [1] - Demand for experimental monkeys is expected to rise due to a steady recovery in preclinical CRO orders, while supply-side expansion faces short-term challenges [1] - Some monkey breeding facilities have reported that their production capacity is already booked until Q1 2026, indicating a tight supply-demand balance that may lead to further price increases in the short term [1] Group 2: Company Insights - Zhaoyan New Drug is positioned to benefit from the industry's recovery and the fair value gains from monkey prices, given its rich strategic resource reserves [1] - Assuming an average price of RMB 84,900 per monkey in 2024 and an increase to RMB 140,000 by Q4 2025, the estimated new fair value for Zhaoyan New Drug in 2025 could reach approximately RMB 220 million, based on a known quantity of 23,200 monkeys [1]

每经AI快讯，昭衍新药(06127.HK)回落逾5%，月内累计涨幅仍超24%。截至发稿，昭衍新药跌5.53%， 报20.5港元，成交额1.51亿港元。 ...

昭衍新药（603127）(06127)回落逾5%，月内累计涨幅仍超24%。截至发稿，跌5.53%，报20.5港元，成 交额1.51亿港元。 消息面上，根据北京商报，2025年12月9日实验猴价格呈加速上涨趋势，大约14万元/只。方正证券指 出，实验猴作为临床前安评的刚性资源，随着临床前CRO订单稳步回暖，需求提升；且供给侧短期扩 产难度较大，部分猴场表示产能已预定至2026年一季度，预计供需偏紧状态或将维持，短期价格有望进 一步上行。 该行指出，以昭衍新药为例，假设按照2024年实验猴均价计入公允价值8.49万/只，2025Q4价格提升至 14万/只，假设猴场出栏率为17%，按照已知23200只猴测算，毛估计(考虑新补进猴子及未成年&老龄猴 的影响)025年新增公允价值约2.2亿。 ...