Hong Kong stock market saw CRO concept stocks leading the gains. As of press time, JOINN Laboratories (ASX: 06127) surged 13.29% to HK$30.18; GENSCRIPT BIO (ASX: 01548) climbed 10.29% to HK$45.66; ASYMCHEM (ASX: 06821) rose 6.13% to HK$169.60; TIGERMED (ASX: 03347) advanced 5.53% to HK$47.72; and WuXi Biologics (ASX: 02269) gained 4.21% to HK$55.75.

On the news front, since mid-September, Novo Nordisk, Eli Lilly, and Roche have successively announced progress on their wet-lab collaborations. Market analysts noted that with MNCs and AI Labs intensifying their investments, early-stage drug discovery is shifting from low-frequency validation to high-frequency, high-throughput rapid iteration. This provides sustained industrial catalysts for CRO/CDMO segments.

Notably, recent major BD deals and strategic collaborations have landed intensively, covering frontier areas such as oral weight loss, RAS, and bispecific antibodies, with each transaction exceeding US$2 billion. Guojin Securities believes that with external pressures easing, global investment and financing warming up, and domestic BD continuing to heat up, the industry has entered a new round of recovery and upward cycle characterized by resonance between domestic and external demand, volume growth in new molecule tracks, and quarter-by-quarter improvement in orders and performance. Caitong Securities stated that the AI pharmaceutical transmission chain has entered a positive cycle, with the model of accelerating design, validating through wet-lab experiments, and feeding back into AI model iteration now preliminarily established, benefiting upstream protein synthesis and preclinical CRO segments first.