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。 ...

Group 1 - The stock of Zhaoyan New Drug (06127) has fallen over 5%, but it has still seen a cumulative increase of more than 24% in the month [1] - As of the report, the stock price is at 20.5 HKD with a trading volume of 151 million HKD [1] - The price of experimental monkeys is on an upward trend, reaching approximately 140,000 RMB each as of December 9, 2025 [1] Group 2 - According to Founder Securities, the demand for experimental monkeys is increasing due to a steady recovery in preclinical CRO orders, while supply-side expansion is challenging in the short term [1] - Some monkey farms have reported that their production capacity is already booked until the first quarter of 2026, indicating a tight supply-demand situation that is expected to persist [1] - For Zhaoyan New Drug, assuming an average price of 84,900 RMB per monkey in 2024 and an increase to 140,000 RMB by Q4 2025, the estimated new fair value in 2025 could be around 220 million RMB based on known quantities [1]

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。 ...