Market Overview - The Hong Kong stock market faced pressure, with the Hang Seng Index dropping over 1%, closing at 25,965.36 points, down 1.23% or 319.72 points, with a total turnover of HKD 2,062.3 million [1] - The Hang Seng China Enterprises Index fell by 1.25% to 9,083.53 points, while the Hang Seng Tech Index remained flat at 5,662.55 points [1] Blue Chip Performance - Baidu Group-SW (09888) led blue-chip stocks, rising 3.45% to HKD 125.8, contributing 8.38 points to the Hang Seng Index [2] - Other notable performers included SMIC (00981) up 2.94%, China Ping An (02318) up 2.15%, while China Construction Bank (00939) fell 4.01%, dragging the index down by 54.39 points [2] Sector Highlights - Large tech stocks generally declined, with Alibaba down over 1% and Tencent down 0.82% [3] - Chinese brokerage stocks rose against the trend, with Huatai Securities (06886) up 5.17% and GF Securities (01776) up 3.1% [3] - The light communication sector saw significant gains, with Huiju Technology rising over 7% [4] - Lithium stocks mostly increased, with Ganfeng Lithium (01772) up 6.95% and CATL (03750) up 3.28% [5] Regulatory Developments - The Chairman of the China Securities Regulatory Commission (CSRC) emphasized the need to accelerate the development of top-tier investment banks and institutions, indicating a potential easing of regulations for quality institutions [4] - The CSRC plans to optimize risk control indicators and moderately open up capital space and leverage limits, which could benefit leading brokerages [4] New Listings and Stock Movements - Two new stocks were listed, with Zhuoyue Ruixin (02687) surging 87.26% and Naxinwei (02676) declining 4.31% [7] - Restructured Energy (02570) faced a significant drop of 27.33% on its first trading day after the lock-up period ended [8] - Silver Pharma-B (02591) saw a decline of 14.32% following its inclusion in the Hong Kong Stock Connect [9] - Sutech (02498) performed well, rising 5.23% after securing a major order from FAW Toyota [10] Pharmaceutical Sector Updates - The National Healthcare Security Administration announced the addition of 114 new drugs to the 2025 National Medical Insurance Drug List, with a success rate of 88%, up from 76% in 2024 [6]

Market Overview - The Hong Kong stock market faced pressure, with the Hang Seng Index dropping over 1%, closing at 25,965.36 points, down 1.23% or 319.72 points, with a total turnover of HKD 206.23 billion [1] - The Hang Seng China Enterprises Index fell by 1.25% to 9,083.53 points, while the Hang Seng Tech Index remained flat at 5,662.55 points [1] Blue Chip Performance - Baidu Group-SW (09888) led blue-chip stocks, rising 3.45% to HKD 125.8, contributing 8.38 points to the Hang Seng Index [2] - Other notable performers included SMIC (00981) up 2.94% and China Ping An (02318) up 2.15%, while China Construction Bank (00939) fell 4.01%, dragging the index down by 54.39 points [2] Sector Highlights - Major technology stocks generally declined, with Alibaba down over 1% and Tencent down 0.82% [3] - Chinese brokerage stocks rose against the trend, with Huatai Securities (06886) up 5.17% and GF Securities (01776) up 3.1% [3][4] - The light communication sector saw significant gains, with Huiju Technology (01729) rising 7.65% [4] - Lithium stocks mostly increased, with Ganfeng Lithium (01772) up 6.95% and CATL (03750) up 3.28% [5] Regulatory Developments - The Chairman of the China Securities Regulatory Commission (CSRC) emphasized the need to accelerate the development of top-tier investment banks and institutions, indicating a potential easing of regulations for quality institutions [4] - The CSRC plans to optimize risk control indicators and open up capital space and leverage limits [4] New Drug Listings - The National Healthcare Security Administration announced the addition of 114 new drugs to the 2025 National Medical Insurance Drug List, with a success rate of 88%, significantly higher than the previous year's 76% [6] New Listings and Stock Movements - New listings included Zhuoyue Ruixin (02687), which surged 87.26% to HKD 126.4, while Naxin Micro (02676) fell 4.31% [7] - Restructured Energy (02570) saw a significant drop of 27.33% on its first trading day after the lock-up period ended [8] - Silver Pharma-B (02591) experienced a decline of 14.32% as it was adjusted into the Hong Kong Stock Connect [9] - Sutech (02498) performed well, rising 5.23% after securing a major contract with FAW Toyota [10]

药明巨诺-B(02126)早盘涨超9%，截至发稿，涨7.79%，报3.32港元，成交额267.56万港元。 消息面上，据药明巨诺-B官微消息，12月7日，公司宣布其首款中国自主研发、获批为1类新药的CAR-T 产品倍诺达®(瑞基奥仑赛注射液)成功纳入首版国家医保局商业健康保险创新药品目录。 据介绍，倍诺达®作为目前国内唯一一款获批三个非霍奇淋巴瘤适应症的CAR-T产品(包括复发难治性 大B细胞淋巴瘤、复发难治性滤泡性淋巴瘤和复发难治性套细胞淋巴瘤)。在本次国家商保创新药目录建 立之前，倍诺达®凭借其显著的临床价值，已被纳入100多款普惠保和近100款百万医疗保险，在中国患 者中得到大量临床实践和真实世界研究的充分验证。 ...

Core Viewpoint - The Hong Kong stock market saw a rise in several innovative drug concept stocks during the morning session, indicating positive investor sentiment in the biotech sector [1] Group 1: Stock Performance - WuXi AppTec (02126.HK) increased by 8.77%, reaching HKD 3.35 [1] - Kintor Pharmaceutical (02171.HK) rose by 3.8%, trading at HKD 18.87 [1] - Beihai Kangcheng (01228.HK) saw a gain of 3.38%, priced at HKD 2.45 [1] - Junshi Biosciences (01877.HK) climbed by 2.29%, with a share price of HKD 24.1 [1]

Core Viewpoint - The article highlights a significant rise in the stock prices of several innovative pharmaceutical companies following the announcement of the 2025 National Medical Insurance drug list, which includes a substantial number of new innovative drugs [1] Group 1: Stock Performance - WuXi AppTec (02126) saw an increase of 8.77%, trading at HKD 3.35 [1] - Kintor Pharmaceutical (02171) rose by 3.8%, reaching HKD 18.87 [1] - Beihai Kangcheng (01228) increased by 3.38%, priced at HKD 2.45 [1] - Junshi Biosciences (01877) gained 2.29%, with a share price of HKD 24.1 [1] Group 2: Drug List Adjustments - The 2025 National Medical Insurance drug list is the 8th adjustment since the establishment of the National Healthcare Security Administration [1] - A total of 114 new drugs were added to the list, including 50 Class 1 innovative drugs [1] Group 3: Notable Drug Inclusions - Fosun Pharma's (600196) Luwomei Tablets and Beihai Kangcheng's injectable Vilazodone Beta were included in the commercial insurance innovative drug list [1] - The highly anticipated CAR-T cell therapies from various companies, including Fosun Kairui's Acalabrutinib Injection and WuXi AppTec's Regorafenib Injection, were also included in the first batch of commercial insurance innovative drug list [1]

智通财经APP获悉，部分创新药概念股早盘走高，截至发稿，药明巨诺-B(02126)涨8.77%，报3.35港 元；科济药业-B(02171)涨3.8%，报18.87港元；北海康成-B(01228)涨3.38%，报2.45港元；君实生物 (01877)涨2.29%，报24.1港元。 值得注意的是，备受瞩目的百万CAR-T细胞疗法——复星凯瑞的阿基仑赛注射液、药明巨诺的瑞基奥仑 赛注射液、合源生物的纳基奥仑赛注射液、驯鹿生物的伊基奥仑赛注射液、恺兴生命科技的泽沃基奥仑 赛注射液均被纳入首批商保创新药目录。 消息面上，2025年国家基本医疗保险、生育保险和工伤保险药品目录是国家医保局成立以来的第8次调 整。本次目录调整新增114种药品，其中50种为1类创新药。据智通财经报道，复星医药的芦沃美替尼片 进入2025年医保目录，北海康成的注射用维拉苷酶β进入商保创新药目录。 ...

每经AI快讯，药明巨诺-B(02126.HK)早盘涨超9%，截至发稿涨7.79%，报3.32港元，成交额267.56万港 元。 ...

Core Viewpoint - WuXi AppTec's subsidiary, WuXi Biologics, has seen its stock price rise significantly following the announcement of its CAR-T product, Beinuoda, being included in the first version of the National Healthcare Security Administration's commercial health insurance innovative drug list [1] Group 1: Company Developments - WuXi Biologics' stock price increased by over 9% in early trading, currently up 7.79% at HKD 3.32, with a trading volume of HKD 2.6756 million [1] - The company announced that its first domestically developed CAR-T product, Beinuoda (Rikioranase injection), has been successfully included in the innovative drug list by the National Healthcare Security Administration [1] Group 2: Product Information - Beinuoda is currently the only CAR-T product in China approved for three non-Hodgkin lymphoma indications, including relapsed/refractory large B-cell lymphoma, relapsed/refractory follicular lymphoma, and relapsed/refractory mantle cell lymphoma [1] - Prior to its inclusion in the national commercial insurance innovative drug list, Beinuoda had already been recognized for its significant clinical value, being included in over 100 universal insurance plans and nearly 100 million medical insurance plans, demonstrating extensive clinical practice and real-world research validation among Chinese patients [1]

Core Viewpoint - WuXi AppTec's subsidiary, WuXi Biologics, has seen a significant stock price increase following the announcement that its CAR-T product, Beinuoda, has been included in the first version of the National Healthcare Security Administration's commercial health insurance innovative drug list in China [1] Group 1: Company Developments - WuXi Biologics' stock rose over 9% in early trading, currently up 7.79% at HKD 3.32, with a trading volume of HKD 2.6756 million [1] - The company announced that Beinuoda (Ruxolitinib injection) is the first domestically developed CAR-T product approved as a Class 1 new drug in China [1] Group 2: Product Information - Beinuoda is currently the only CAR-T product in China approved for three non-Hodgkin lymphoma indications: relapsed/refractory large B-cell lymphoma, relapsed/refractory follicular lymphoma, and relapsed/refractory mantle cell lymphoma [1] - Prior to its inclusion in the national commercial insurance innovative drug directory, Beinuoda had already been included in over 100 affordable insurance plans and nearly 100 million medical insurance plans, demonstrating its significant clinical value and extensive real-world research validation among Chinese patients [1]

Group 1 - The National Healthcare Security Administration and the Ministry of Human Resources and Social Security have issued a new drug catalog for basic medical insurance, maternity insurance, and work injury insurance, which will take effect on January 1, 2026. This marks the 8th adjustment of the medical insurance drug catalog since the establishment of the National Healthcare Security Administration [1] - The recent adjustment adds 114 new drugs, including 50 first-class innovative drugs. Notably, several rare disease medications have been included in the 2025 medical insurance catalog and the commercial health insurance innovative drug catalog [1] - Specific drugs such as Fosun Pharma's Luvofemin and Beihai Kangcheng's Vilazodone have been included in the 2025 medical insurance catalog and the commercial health insurance innovative drug catalog, respectively. Additionally, five CAR-T therapies have been added to the commercial health insurance innovative drug catalog [1] Group 2 - John Yang, the Asia-Pacific healthcare research director at Citibank, stated that biotechnology, particularly innovative drugs, will be a top priority for China in the coming years. He emphasized the need for China to upgrade production lines and capabilities, as well as expand clinical management capabilities to develop the entire ecosystem [1] - Morgan Stanley's healthcare research head in China, Yang Huang, echoed similar sentiments, noting that biomanufacturing has been identified by the government as a key economic growth driver during the 14th Five-Year Plan period [1] Group 3 - The head of the National Healthcare Security Administration, Zhang Ke, indicated plans to accelerate the construction of a healthcare imaging cloud based on medical insurance data, aiming for nationwide interoperability and recognition of medical insurance imaging by 2027 [4]