Zhi Tong Cai Jing·2025-12-13 03:38Core Viewpoint - The stock of Zhaoyan New Drug (昭衍新药) has seen a significant increase, with a rise of 11.42% to HKD 19.8, driven by a supply shortage of experimental monkeys and positive market outlooks from securities firms [2]. Group 1: Company Performance - Zhaoyan New Drug is recognized as a leader in the non-clinical safety evaluation sector in China, enhancing its influence in both domestic and international markets through strong service capabilities [2]. - The company experienced high growth in performance from 2018 to 2022, but faced order volume and price pressure in 2023-2025, with expectations of a recovery starting in 2026 [2]. Group 2: Market Dynamics - The price of experimental monkeys, specifically the crab-eating macaque, has surpassed HKD 100,000, with reports indicating prices have reached HKD 120,000 to HKD 130,000 due to supply shortages [2]. - A report from Huatai Securities suggests that the increasing supply-demand gap may lead to a new price increase cycle for monkeys, which previously peaked at HKD 150,000 to HKD 200,000 in 2022 [2]. Group 3: Future Outlook - The company is expected to enter a new growth phase driven by domestic recovery and overseas outsourcing, with potential catalysts including rising monkey prices and improved order signing [2]. - According to Founder Securities, there is a recommendation to focus on companies with stabilizing performance and improving orders, indicating a potential turning point for the sector next year [2].