Zhi Tong Cai Jing·2025-12-23 02:51Core Viewpoint - The stock of Zhaoyan New Drug (603127) has increased by over 5%, currently trading at 22.38 HKD with a transaction volume of 116 million HKD, indicating a positive market response to recent developments in the preclinical CRO sector [1] Group 1: Market Demand and Supply Dynamics - There is a recovery in demand from preclinical CRO clients, while the supply of experimental monkeys is tight, leading to increased prices [1] - The price of the food crab monkey, essential for safety evaluation tests in drug development, has risen to 140,000 RMB per monkey, reflecting a supply-demand imbalance [1] Group 2: Impact on Drug Development - New technology platforms such as large molecules (multi-antibodies, ADC), small nucleic acids, peptides, and cell gene therapies require food crab monkeys for safety evaluation, highlighting the importance of this resource in innovative drug development [1] - The increase in monkey prices will directly contribute to profit through fair value changes, supporting the recovery of domestic innovative drug research and development [1] Group 3: Financial Projections - According to estimates from Founder Securities, if the average price of experimental monkeys is accounted for at 84,900 RMB in 2024 and increases to 140,000 RMB by Q4 2025, the estimated new fair value addition for Zhaoyan New Drug in 2025 could be approximately 220 million RMB, based on a known population of 23,200 monkeys [1]