JOINN Laboratories (06127) saw its shares rise more than 14% in morning trading. At the time of writing, the stock was up 14.54% to HK$22.3, with a turnover of HK$76.51 million. The surge follows the company's release of its annual results. In 2025, the company reported revenue of RMB 1.658 billion, a decrease of 17.87% year-on-year. However, net profit attributable to shareholders reached RMB 298 million, marking a significant increase of 302.08% compared to the previous year. Additionally, the company's total order backlog stood at approximately RMB 2.6 billion, with new orders signed also amounting to around RMB 2.6 billion, showing growth from the previous year. The announcement indicated that the substantial growth in net profit was primarily driven by gains from changes in the fair value of biological assets. During the period, the net gain from fair value changes of biological assets amounted to RMB 476 million. It is understood that JOINN Laboratories' biological assets primarily consist of non-human primate models used for non-clinical project evaluations, commonly referred to as "laboratory monkeys."