On July 15, Joinn Laboratories (06127.HK) rose 9.91% in regular trading, trading at HKD 25.26 with turnover of HKD 191 million. The rally was driven by the company's H1 earnings pre-announcement released the prior evening.

The company forecast H1 attributable net profit of RMB 600 million to 900 million, representing a year-over-year increase of approximately 884.9% to 1,377.4%, compared to RMB 60.9 million in the prior-year period. Revenue is expected to grow only 0% to 10.5% to between RMB 669 million and 739 million. Non-recurring adjusted net profit is projected to surge 2,334.2% to 3,551.3%.

The dramatic profit growth was primarily attributed to rising market prices for biological assets — experimental monkeys have climbed to approximately RMB 200,000 per animal — combined with natural growth appreciation driving positive fair value changes. The company noted that while laboratory operations remain stable and the industry is recovering, revenue growth was constrained by lingering effects of prior intense competition, with gross margins still awaiting recovery. The broader CXO sector rallied in tandem, with Pharmaron up 5.25% and WuXi XDC up 3.76%.

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