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。 ...

智通财经APP获悉，昭衍新药(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。 ...

（於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 海外監管公告 本公告乃北京昭衍新藥研究中心股份有限公司（「本公司」）根據香港聯合交易 所有限公司證券上市規則第13.10B條 而 作 出。 茲 載 列 本 公 司 於 上 海 證 券 交 易 所 網 站 刊 登 公 告 如 下，僅 供 參 閱。 承董事會命 北京昭衍新藥研究中心股份有限公司 馮宇霞 董事長 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 经全体合伙人协商一致，同意对有限合伙的基金存续期限即投资期进行调 整，其他条款继续有效。全体合伙人共同签署《<北脑一期（北京）股权投资 中心（有限合伙）合伙协议>之补充协议》。调整内容如下所示： 中 國 北 京，2025年12月15 ...

证券简称：昭衍新药 证券代码：603127 公告编号：2025-056 北京昭衍新药研究中心股份有限公司 关于与专业投资机构合作参与投资基金的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、与专业投资机构合作参与投资基金情况概述 北京昭衍新药研究中心股份有限公司（以下简称"昭衍新药"、"公司"） 于 2024 年 12 月 20 日召开第四届董事会第十一次会议，审议通过了《关于公司 与专业投资机构合作参与投资基金的议案》，同意公司或其指定子公司以不超过 800 万元人民币投资参与投资北脑一期（北京）股权投资中心（有限合伙）（以 下简称"本基金"、"有限合伙"）。北京崇德英盛投资管理有限公司为本基金 的普通合伙人、执行事务合伙人，并担任本基金的基金管理人。具体内容详见公 司于 2024 年 12 月 21 日在上海证券交易所网站（www.sse.com.cn）及指定信息 披露媒体《上海证券报》披露的《昭衍新药关于与专业投资机构合作参与投资基 金的公告》（公告编号：2024-059）。 2025 年 8 月，公司全资 ...

昭衍新药(06127)一度涨超4%，本月股价已累涨超三成。截至发稿，涨4.04%，报22.14港元，成交额 2.08亿港元。 智通财经APP获悉，昭衍新药(06127)一度涨超4%，本月股价已累涨超三成。截至发稿，涨4.04%，报 22.14港元，成交额2.08亿港元。 消息面上，根据北京商报，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。 据方正证券测算，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（不考虑新补进猴子及未成 年&老龄猴的影响）2025年新增公允价值约2.2亿。 ...

Group 1 - The core viewpoint of the article highlights that Zhaoyan New Drug (06127) has seen its stock price increase by over 30% this month, with a current price of 22.14 HKD, reflecting a 4.04% rise at the time of reporting [1] - The price of experimental monkeys has been rising rapidly, currently at approximately 140,000 RMB per monkey, driven by increased demand from preclinical CRO orders and limited supply capacity [1] - According to estimates from Founder Securities, Zhaoyan New Drug could see an increase in fair value of approximately 220 million RMB in 2025, based on projected price increases for experimental monkeys and existing inventory [1]

Group 1 - The core viewpoint of the article highlights that Zhaoyan New Drug (603127) has seen its stock price increase by over 30% this month, with a current price of 22.14 HKD, reflecting a 4.04% rise at the time of reporting [1] - The price of experimental monkeys has been rising rapidly, currently around 140,000 RMB each, driven by increased demand from preclinical CRO orders and limited supply capacity [1] - According to estimates from Founder Securities, the fair value of experimental monkeys for Zhaoyan New Drug is projected to be 84,900 RMB each in 2024, increasing to 140,000 RMB by Q4 2025, with an estimated additional fair value of approximately 220 million RMB in 2025 based on current monkey inventory [1]

Core Viewpoint - Zhaoyan New Drug (06127) has seen its stock price increase by over 30% this month, with a current price of 22.14 HKD and a trading volume of 208 million HKD, driven by rising demand for experimental monkeys used in preclinical evaluations [1] Company Summary - Zhaoyan New Drug's stock price rose by 4.04% to 22.14 HKD, with a cumulative increase of over 30% this month [1] - The company is expected to benefit from the rising prices of experimental monkeys, which are projected to reach 140,000 RMB per monkey by December 9 [1] Industry Summary - The price of experimental monkeys is on an upward trend, with a current price of approximately 140,000 RMB each, driven by increased demand from preclinical CRO orders [1] - Supply constraints are expected to persist, as some monkey farms have reported that their production capacity is booked until Q1 2026, leading to a tight supply-demand situation [1] - According to estimates, if the average price of experimental monkeys reaches 84,900 RMB in 2024 and 140,000 RMB by Q4 2025, Zhaoyan New Drug could see an increase in fair value of approximately 220 million RMB in 2025, based on a known quantity of 23,200 monkeys [1]