On October 8, JOINN rose 5.36% in regular trading, trading at HK$30.98 with turnover of approximately HK$69.95 million. The gain reflects a broader recovery in the CRO sector, supported by recent institutional positioning and robust order backlogs.

Earlier disclosures showed Morgan Stanley increased its H-share long position in JOINN by about 457,000 shares on September 29, lifting its stake to 5.23%. Guangfa Fund had also raised its holding to 5.14% on September 24 before partially reducing it to 4.82% on September 28. These institutional flows contributed to short-term market sentiment around the stock.

Fundamentally, the company reported first-half revenue of RMB 704 million, up 5.27% year-on-year, while adjusted net profit surged 1126.80% to RMB 748 million. New orders reached approximately RMB 2.02 billion, up 98.0% year-on-year, and the order backlog stood at roughly RMB 3.7 billion, up 60.9%. This combination of earnings momentum and CRO sector linkage has been a key support for the share price.

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