Core Viewpoint - The innovative drug ETF Tianhong (517380) has seen significant trading activity and growth, indicating a strong interest in the innovative drug sector, which is experiencing a historic surge in IPOs and commercialization efforts [1][4]. Group 1: ETF Performance - As of January 8, 2026, the innovative drug ETF Tianhong (517380) recorded a transaction volume of 18.58 million yuan, with the tracked index HSSSHID rising by 0.92% [1]. - The latest scale of the innovative drug ETF Tianhong reached 1.578 billion yuan, with a total of 1.962 billion shares, both marking all-time highs since its inception [2]. - The net inflow of funds into the innovative drug ETF Tianhong was 89.42 million yuan, the highest since April 2025 [3]. Group 2: Market Trends - The innovative drug sector is experiencing a "volume and price increase" opportunity, with the top ten constituent stocks of the ETF heavily weighted towards leading companies like WuXi AppTec and HengRui Medicine, benefiting from a surge in business development (BD) transactions and breakthroughs in AI drug development [3]. - In 2025, the innovative drug sector achieved a historic explosion, with over 30 biotech companies successfully listed in A-shares and Hong Kong, and more than 50 companies awaiting approval, reflecting unprecedented capital activity [4]. - The sector has transitioned from mere speculation to substantial commercialization, becoming a benchmark sector with both growth potential and certainty in the current bull market [4]. Group 3: Institutional Insights - Southwest Securities noted that in early 2025, Hong Kong companies began achieving BD, leading to a rise in the innovative drug sector; a government report in March emphasized support for innovative drugs and medical devices, further boosting A-share performance [5]. - The sector experienced a significant price increase following a major BD deal worth 1.25 billion USD in May, but faced a high-level adjustment by the end of the third quarter [5]. - The firm predicts that in 2026, the innovative drug sector will shift from a broad rally to a selective stock market [5].

格隆汇1月7日｜港股市场CRO概念股集体走强，其中，凯莱英涨超7%，泰格医药、昭衍新药涨超5%， 药明康德、康龙化成涨超3%，药明生物、金斯瑞涨超2%。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 金斯瑞生物科技股份有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01548 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.001 | USD | | 5,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.001 | USD | | 5,000,000 | 本月底法 ...

Group 1 - The core viewpoint of the news is that Hong Kong's innovative drug concept stocks experienced a collective rise, indicating positive market sentiment in the pharmaceutical sector [1] Group 2 - Jingtai Holdings (02228) saw an increase of 6.13%, with a latest price of 10.040 and a total market capitalization of 43.206 billion [2] - Hengrui Medicine (01276) rose by 4.63%, with a latest price of 74.550 and a total market capitalization of 494.803 billion [2] - SiHuan Pharmaceutical (00460) increased by 4.07%, with a latest price of 1.280 and a total market capitalization of 11.707 billion [2] - Innovent Biologics (01801) experienced a rise of 3.34%, with a latest price of 78.800 and a total market capitalization of 135.599 billion [2] - WuXi Biologics (02269) increased by 3.18%, with a latest price of 32.440 and a total market capitalization of 133.916 billion [2] - China National Pharmaceutical Group (01177) rose by 3.07%, with a latest price of 6.370 and a total market capitalization of 119.506 billion [2] - BeiGene (06160) saw an increase of 2.68%, with a latest price of 184.100 and a total market capitalization of 283.639 billion [2] - Kingstar Bio (01548) rose by 2.66%, with a latest price of 12.750 and a total market capitalization of 27.874 billion [2] - Genscript Biotech (01952) increased by 2.49%, with a latest price of 37.900 and a total market capitalization of 13.4 billion [2] - WuXi AppTec (02359) saw a rise of 2.13%, with a latest price of 100.800 and a total market capitalization of 300.763 billion [2]

（文章来源：每日经济新闻） 每经AI快讯，12月30日，港股生物医药股盘中走弱，金斯瑞生物科技跌近4%，复宏汉霖跌近3%，科伦 博泰生物跌超2%，康诺亚、荣昌生物、康方生物等多股跌超1.5%。 ...

Market Overview - The US CPI annual rate decline has led to a rise in US stocks, boosting risk market sentiment [1] - The Hang Seng Index opened higher and closed up 0.75%, with the Hang Seng China Enterprises Index and Hang Seng Tech Index rising by 0.68% and 1.12% respectively [1][2] Sector Performance - Major technology stocks saw collective gains, with Tencent up 1.49%, Kuaishou up 1.45%, and Meituan up 1.28% [4] - Pharmaceutical stocks were active, with WuXi AppTec and other related stocks rising [2] - Gaming stocks continued to rise, with MGM China leading with a 6.6% increase [2][5] - AI-driven demand boosted optical fiber and cable stocks, with Yangtze Optical Fiber rising 12% [2] - Automotive, wind power, education, photovoltaic, insurance, and Apple-related stocks also experienced gains [2] Notable Stock Movements - Xpeng Motors rose 7.65%, Horizon Robotics up 7.04%, and Li Auto up 3.81% [4][10] - Electronic cigarette stocks saw significant increases, with China Tobacco Hong Kong up 6.68% [5] - Chinese brokerage stocks rose, with China International Capital Corporation up over 4% [7] - Intelligent driving concept stocks surged, with Youjia Innovation up 31.22% [8] Weak Performers - Heavy machinery stocks faced declines, with China National Heavy Duty Truck Group down over 6% [13] - Gold and precious metal stocks were weak, with several companies experiencing declines of over 2% [16] - Oil stocks also fell, with China Petroleum & Chemical Corporation down 1.52% [15] Capital Flows - Southbound funds recorded a net purchase of HKD 3.371 billion, with net selling from Shanghai-Hong Kong Stock Connect and net buying from Shenzhen-Hong Kong Stock Connect [18] Market Outlook - CITIC Securities suggests that after a strong performance in September, Hong Kong stocks are undergoing a mid-term adjustment, with quality assets entering a high-value zone [18]

Core Viewpoint - Kingsray Biotechnology (01548.HK) announced the grant of a total of 36,314 shares as rewards to two directors, subject to acceptance and compliance with the terms and conditions of the 2019 Restricted Share Unit Plan [1] Summary by Category - **Company Actions** - The company has granted a total of 36,314 shares as rewards to two directors [1]

金斯瑞生物科技(01548)发布公告，于2025年12月15日，公司向两名董事授出合共3.63万股股份奖励，惟 待接纳及须遵守2019年限制性股份单位计划的条款及条件。 ...

智通财经APP讯，金斯瑞生物科技(01548)发布公告，于2025年12月15日，公司向两名董事授出合共3.63 万股股份奖励，惟待接纳及须遵守2019年限制性股份单位计划的条款及条件。 ...

格隆汇12月16日丨金斯瑞生物科技(01548.HK)发布公告，2025年12月15日，公司向两名董事授出合共 36,314股股份奖励，惟待接纳及须遵守2019年限制性股份单位计划的条款及条件。其中，(a)18,157股限 制性股份单位被授予公司独立非执行董事John Quelch博士；及(b)18,157股限制性股份单位被授予公司独 立非执行董事Ross Grossman博士。 ...