On September 30, JOINN rose 11.86% in regular trading, trading at HK$29.92/share, with turnover of HK$120 million. The stock saw broad-based buying as dual catalysts converged on the CXO sector.

On the policy front, the Pharmaceutical Industry Development 15th Five-Year Plan was officially released, designating biopharmaceuticals as a national emerging pillar industry and setting an annual growth target of no less than 20% for the innovative drug sector. CDMO and CRO segments received explicit policy endorsement, triggering a sector-wide rally with CanSino Biologics surging 18% and GenScript Biotech climbing 8% on the same day.

Meanwhile, JOINN's recently disclosed H1 results provided fundamental support. The company reported revenue of RMB 704 million, up 5.27% year-over-year, while net profit soared to RMB 748 million, representing a 1,126.8% surge driven primarily by fair value changes in biological assets. Crucially, new signed orders reached approximately RMB 2.02 billion, nearly doubling year-over-year with 98% growth, while the total backlog expanded to RMB 3.7 billion, up 60.9%. Gross margin improved to 20.6% from 15.7%, and operating cash flow jumped 207%. Institutional research noted that preclinical safety evaluation CRO remains one of the highest-prosperity segments within the pharmaceutical industry.

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