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　　昭衍新药（06127）午前涨超4%，本月股价已累计涨超三成。截至发稿，股价上涨4.23%，报22.18港元，成交额2.11亿港元。

　　根据北京商报，12月9日实验猴价格呈加速上涨趋势，大约14万元/只。方正证券指出，实验猴作为临床前安评的刚性资源，随着临床前CRO订单稳步回暖，需求提升；且供给侧短期扩产难度较大，部分猴场表示产能已预定至2026年一季度，预计供需偏紧状态或将维持，短期价格有望进一步上行。

　　据方正证券测算，以昭衍新药为例，假设按照2024年实验猴均价计入公允价值8.49万/只，2025Q4价格提升至14万/只，假设猴场出栏率为17%，按照已知23200只猴测算，毛估计（不考虑新补进猴子及未成年&老龄猴的影响）2025年新增公允价值约2.2亿。

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