Changes in Hong Kong stocks | Zhaoyan New Pharmaceutical (06127) fell by more than 5% and still rose by more than 20% within a month, fair value earnings are expected to increase significantly

The Zhitong Finance App learned that Zhaoyan New Pharmaceutical (06127) fell by more than 5%, and the cumulative increase during the month was still over 24%. As of press release, it decreased by 5.53% to HK$20.5, with a turnover of HK$151 million.

According to the news, according to the Beijing Commercial Daily, the price of experimental monkeys showed an accelerated upward trend on December 9, 2025, about 140,000 yuan/dog. Fangzheng Securities pointed out that experimental monkeys are a rigid resource for pre-clinical safety assessments, and demand is increasing as pre-clinical CRO orders pick up steadily; moreover, it is difficult to expand production in the short term on the supply side. Some monkey farms indicated that production capacity has already been scheduled until the first quarter of 2026. It is expected that supply and demand will remain tight, and short-term prices are expected to rise further.

The bank pointed out that taking Zhaoyan's new drug as an example, assuming that the fair value of 84,900 monkeys is included according to the average price of experimental monkeys in 2024 and the 2025Q4 price is raised to 140,000 per dog, assuming that the release rate of monkeys in the farm is 17%. According to estimates of the known 23,200 monkeys, Mao estimates (considering the effects of newly added monkeys and young & elderly monkeys) added a fair value of about 220 million yuan in 2005.