On July 17, Joinn Laboratories fell 5.65% in regular trading, trading at HKD 23.26/share, with turnover of HKD 181 million.

On the news front, the company issued an abnormal stock trading volatility announcement on the evening of July 16, explicitly warning that \"overheated market sentiment and irrational speculation risks exist, and the stock price may decline at any time.\" The announcement also highlighted that fair value of biological assets is subject to significant uncertainty and valuation volatility. The stock had surged over 20% cumulatively in the prior three trading days, adding approximately HKD 7.7 billion in market capitalization.

Dragon and Tiger data revealed one institutional seat sold approximately RMB 561 million over three days, ranking as the top seller. Market concerns center on the sustainability of the company's profit model, where revenue grew only 0%-10.5% year-over-year while net profit growth of 885%-1,377% was overwhelmingly driven by lab monkey fair value appreciation rather than improvement in core preclinical evaluation services. The biological asset fair value contribution to net profit reached approximately RMB 703-777 million, while the laboratory services segment reported a loss to marginal profit of negative RMB 142 million to RMB 65 million.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)