Investment Rating - The report suggests a positive investment outlook for the medical device sector, particularly in brain-computer interface devices, which are expected to see accelerated commercialization due to supportive policies [1][3]. Core Insights - Recent policies have significantly increased support for innovation in medical devices, with the National Medical Products Administration actively promoting faster market entry for brain-computer interface devices, indicating a diverse application landscape and substantial future potential [1][3]. - The pharmaceutical sector is witnessing positive developments, such as GSK's approval of mepolizumab for a new indication in COPD patients, marking it as the first monthly administered biologic in China, which is expected to reduce the annual incidence of severe exacerbations significantly [1][32]. - The report highlights the approval of Wegovy® tablets in the U.S. for weight management, emphasizing its potential impact on the market as the first oral GLP-1 receptor agonist for this purpose [37][40]. Summary by Sections Pharmaceutical Sector - Mepolizumab has been approved for COPD treatment in China, with a monthly dosing schedule, targeting a significant patient population [1][32]. - The A/H share innovation drug sector maintains high activity levels, with new drug approvals and cross-border transactions remaining robust [16][28]. Biologics - Wegovy® tablets have been approved in the U.S. for weight management, showing similar weight loss efficacy to its injectable counterpart, with a significant portion of participants achieving substantial weight loss [37][40]. CXO and Pharmaceutical Supply Chain - The CXO sector continues to show upward momentum, supported by a stable order backlog, with November financing levels slightly above the annual average [44][46]. Medical Devices - The centralized procurement process for high-value medical consumables is progressing steadily, with high selection rates in multiple rounds of bidding, indicating a favorable environment for leading domestic companies [2][52]. Retail Pharmacy - The industry is undergoing a consolidation phase, with leading companies expected to benefit from increased market share through mergers and acquisitions [2][3]. Medical Services and Consumer Healthcare - Aier Eye Hospital's acquisition of 39 institutions for 960 million yuan strengthens its market position, with the acquired entities showing signs of financial recovery [2][3].

近日，石药创新制药股份有限公司发布公告称，公司拟通过设立合资公司的方式，进一步加码创新生物医药领域布局，重点切入代谢类 疾病与 GLP-1 靶点相关赛道。根据公告，石药创新拟与中奇制药共同出资4.5亿元人民币，在石家庄设立石药集团润石生物科技（石家 庄）有限公司（暂定名，最终以市场监督管理部门核准登记为准）。 整理 | GLP1减重宝典内容团队 在本次合资安排中，石药创新将以自有资金出资1.575亿元，持股35%；中奇制药拟出资2.925亿元，持股65%。双方表示，合资公司设 立的背景在于国内健康意识持续提升、医疗支出稳步增长，以及临床需求和疾病诊疗水平不断提高，在此推动下，中国创新型代谢类药 物，尤其是 GLP-1 靶点相关产品，正进入快速发展阶段，具备较为明确的长期市场空间。 按照规划，合资公司将以创新型代谢类药物为核心方向，覆盖研发、产业化及商业化全链条，重点聚焦 GLP-1 靶点相关产品，主要面 向超重、肥胖及2型糖尿病等治疗领域，并在此基础上持续推进新型制剂研发和适应证扩展。 在资产与管线层面，合资公司设立后，将承接石药集团有限公司旗下全部 GLP-1 靶点及相关产品管线，涵盖从临床前研究、临床阶段 ...

港股创新药ETF（159567）现任基金经理为马君。马君自2024年1月3日管理（或拟管理）该基金，任职 期内收益56.94%。 来源：新浪基金∞工作室 12月26日，港股创新药ETF（159567）收盘跌0.26%，成交额2.21亿元。 港股创新药ETF（159567）成立于2024年1月3日，基金全称为银华国证港股通创新药交易型开放式指数 证券投资基金，基金简称为港股创新药ETF。该基金管理费率每年0.50%，托管费率每年0.10%。港股创 新药ETF（159567）业绩比较基准为国证港股通创新药指数收益率(经估值汇率调整)。 规模方面，截止12月25日，港股创新药ETF（159567）最新份额为104.67亿份，最新规模为82.04亿元。 回顾2024年12月31日，港股创新药ETF（159567）份额为3.95亿份，规模为3.78亿元。即该基金今年以 来份额增加2547.36%，规模增加2071.41%。 流动性方面，截止12月26日，港股创新药ETF（159567）近20个交易日累计成交金额157.32亿元，日均 成交金额7.87亿元；今年以来，240个交易日，累计成交金额2796.55亿元，日均成 ...

21世纪经济报道记者季媛媛 2025年即将结束之际，减重赛道不断扔下重磅炸弹。 在国内市场，分拆自石药集团的A股上市公司新诺威（300765）发布公告，公司计划与关联方石药集团 中奇制药技术（石家庄）有限公司共同出资45,000万元人民币成立合资公司。在合资公司的注册资本 中，新诺威将贡献15,750万元，占总资本的35%，而中奇制药则出资29,250万元，占据剩余的65%股 份。 该合资公司专注于创新型代谢类药物的研发、产业化和商业化，特别是针对GLP-1靶点相关产品，涵盖 超重/肥胖及2型糖尿病治疗领域。合资公司还将接管石药集团旗下所有与GLP-1靶点相关的研发管线及 其后续开发和商业化工作。 这意味着，这家合资公司将承载着石药集团最核心的GLP-1管线资产，在这个全球"药王"之战的关键时 刻，宣告中国药企正在另辟蹊径加入战局。 随后不久，在海外市场，诺和诺德宣布，美国食品药品监督管理局（FDA）已批准每日一次减重版司美 格鲁肽（英文商品名：Wegovy）口服片剂（25mg），用于减少多余体重并长期维持体重下降，同时降 低发生主要不良心血管事件的风险。这是首个被批准用于体重管理的口服GLP-1药物。诺和诺 ...

香港联交所最新资料显示，12月23日，主席兼执行董事蔡东晨增持石药集团(01093)670.6万股，每股作 价8.85港元，总金额约为5934.81万港元。增持后最新持股数目约为29.17亿股，最新持股比例为 25.31%。 ...

智通财经APP获悉，香港联交所最新资料显示，12月23日，主席兼执行董事蔡东晨增持石药集团 (01093)670.6万股，每股作价8.85港元，总金额约为5934.81万港元。增持后最新持股数目约为29.17亿 股，最新持股比例为25.31%。 ...

Core Insights - The top three companies by stockholding ratio in the Hong Kong Stock Connect are China Telecom (71.99%), Gree Power Environmental (70.09%), and Da Zhong Public Utilities (68.82%) [1] - Tencent Holdings, Xiaomi Group-W, and Alibaba-W have seen the largest increases in stockholding amounts over the last five trading days, with increases of +1.201 billion, +1.001 billion, and +892 million respectively [1] - The companies with the largest decreases in stockholding amounts over the last five trading days include China Mobile (-2.320 billion), Yingfu Fund (-1.467 billion), and China Petroleum & Chemical Corporation (-364 million) [2] Stockholding Ratio Rankings - China Telecom (00728) holds 9.990 billion shares, representing 71.99% [1] - Gree Power Environmental (01330) holds 0.283 billion shares, representing 70.09% [1] - Da Zhong Public Utilities (01635) holds 0.367 billion shares, representing 68.82% [1] - Other notable companies in the top rankings include Kai Sheng New Energy (67.96%) and Tianjin Chuangye Environmental Protection (67.10%) [1] Recent Increases in Stockholding - Tencent Holdings (00700) saw an increase of +1.201 billion, with a change of +1.9922 million shares [1] - Xiaomi Group-W (01810) increased by +1.001 billion, with a change of +25.5161 million shares [1] - Alibaba-W (09988) increased by +892 million, with a change of +6.1091 million shares [1] - Other companies with significant increases include Hong Kong Exchanges (6.48 billion) and Changfei Optical Fiber (6.09 billion) [1] Recent Decreases in Stockholding - China Mobile (00941) experienced a decrease of -2.320 billion, with a change of -28.0154 million shares [2] - Yingfu Fund (02800) decreased by -1.467 billion, with a change of -56.4370 million shares [2] - China Petroleum & Chemical Corporation (00857) decreased by -364 million, with a change of -44.7216 million shares [2] - Other companies with notable decreases include China Pacific Insurance (-350 million) and Innovent Biologics (-293 million) [2]

Core Insights - Tencent Holdings (00700), Alibaba-W (09988), and Hong Kong Exchanges (00388) led the market in net inflows, with amounts of 1.115 billion, 1.055 billion, and 309 million respectively [1] - China Mobile (00941), Luoyang Molybdenum (03993), and CICC (03908) experienced the highest net outflows, with amounts of -1.053 billion, -184 million, and -181 million respectively [1] - In terms of net inflow ratios, China Telecom Services (00552), Yihua Tong (02402), and Sunshine Insurance (06963) topped the list with ratios of 167.31%, 126.18%, and 118.17% respectively [1] Net Inflow Rankings - Tencent Holdings (00700) had a net inflow of 1.115 billion, representing a 13.09% increase, closing at 614.500 [2] - Alibaba-W (09988) saw a net inflow of 1.055 billion, with a 12.23% increase, closing at 146.400 [2] - Hong Kong Exchanges (00388) recorded a net inflow of 309 million, with a 24.77% increase, closing at 407.000 [2] Net Outflow Rankings - China Mobile (00941) faced a net outflow of -1.053 billion, a decrease of -54.21%, closing at 83.700 [2] - Luoyang Molybdenum (03993) had a net outflow of -184 million, down by -29.82%, closing at 19.100 [2] - CICC (03908) experienced a net outflow of -181 million, a decrease of -30.22%, closing at 20.540 [2] Net Inflow Ratio Rankings - China Telecom Services (00552) achieved a net inflow ratio of 167.31%, with a net inflow of 26.5926 million, closing at 4.520 [3] - Yihua Tong (02402) had a net inflow ratio of 126.18%, with a net inflow of 26.5481 million, closing at 23.980 [3] - Sunshine Insurance (06963) recorded a net inflow ratio of 118.17%, with a net inflow of 31.5558 million, closing at 3.940 [3]

12月24日上榜的成交活跃股中，石药集团通过港股通渠道成交金额为2.72亿港元，净买入金额为1.00亿 港元，不仅如此，该股已连续3日出现成交净买入，累计净买入金额为2.12亿港元，其间股价上涨 6.95%。（数据宝） （文章来源：证券时报网） 石药集团获南向资金连续3天净买入，累计净买入金额为2.12亿港元，股价累计上涨6.95%。 证券时报·数据宝统计显示，12月24日港股通（包括沪市港股通及深市港股通）成交活跃股合计成交 164.32亿港元，净卖出金额为7.87亿港元。 ...

Core Viewpoint - The Hang Seng Index rose by 0.17% on December 24, with southbound capital recording a total transaction amount of HKD 457.99 billion, resulting in a net sell of HKD 11.75 billion [1] Group 1: Southbound Capital Transactions - Southbound capital transactions included a total of HKD 169.12 billion for the Shenzhen Stock Connect, with a net sell of HKD 6.24 billion, and HKD 288.87 billion for the Shanghai Stock Connect, with a net sell of HKD 5.52 billion [1] - The most active stock for southbound capital was SMIC, with a total transaction amount of HKD 46.18 billion and a net buy of HKD 4.91 billion, closing up by 3.12% [1][2] - Other notable stocks included Alibaba and Tencent, with transaction amounts of HKD 30.19 billion and HKD 16.71 billion, respectively, both experiencing net sells of HKD 2.88 billion and HKD 6.11 billion [1][2] Group 2: Individual Stock Performance - The stocks with the highest net buy amounts included Agricultural Bank with HKD 1.75 billion and Hua Hong Semiconductor with HKD 1.06 billion [1] - China Mobile had the highest net sell amount at HKD 7.11 billion, closing down by 0.06% [1][2] - The stock with the longest consecutive net buy days was CSPC Pharmaceutical, with a total net buy of HKD 2.12 billion over three days [2]