Shares of JOINN (ASX: 06127) opened sharply higher, gaining more than 12%. At the time of writing, the stock was up 12.61% to HK$25, with a turnover of HK$5.96 million.

The catalyst for the move was an announcement released by the company on the evening of July 14th. JOINN projected its revenue for the first half of 2026 to reach between approximately RMB 669 million and RMB 739 million, representing a year-on-year increase of about 0% to 10.5%.

More significantly, the company forecasted its net profit attributable to shareholders to be in the range of RMB 600 million to RMB 900 million. This translates to a staggering year-on-year surge of approximately 884.9% to 1377.4%.

Key Drivers of the Performance

The company attributed this exceptional profit growth primarily to a sharp increase in the price of laboratory monkeys. JOINN stated that during the reporting period, the combined effect of rising market prices for its biological assets and their natural growth led to a positive fair value adjustment, which contributed substantially to its financial results.

Specifically, the fair value change of these biological assets is estimated to have contributed between RMB 703 million and RMB 777 million to the company's net profit for the first half of 2026.

Market Context for Laboratory Animals

This surge in asset value is set against a backdrop of intense activity in new drug research and development, which has driven a continuous and rapid increase in the price of cynomolgus monkeys, a key species used in laboratory testing.

Reports indicate that the price for these laboratory monkeys, represented by the cynomolgus species, surpassed the RMB 100,000 mark again in the second half of 2025. Since entering 2026, prices have climbed even more sharply, with some quotes reaching as high as RMB 200,000 per monkey. The market is characterized not only by high prices but also by a tightening supply situation.