Group 1 - The Hong Kong CXO concept stocks experienced a decline, with WuXi Biologics falling over 5% [1] - Kingsoft Biotech dropped more than 3% [1] - Other companies such as Kelaiying (002821), WuXi AppTec (603259), Tigermed (300347), and Zhaoyan New Drug (603127) saw declines of over 2% [1]

2 July 2025 | 4:24PM HKT WuXi Biologics (2269.HK): China Healthcare Corporate Day 2025 — Key Takeaways: on-track to deliver revenue guidance; capacity We hosted WuXi Biologics's IR team with investors (virtual) on Jul 2 at our China Healthcare Corporate Day 2025. Bottom line: Mgmt noted 1) on track to deliver FY25 revenue guidance (+12-15% y/y, or +17-20% y/y for continuing operations), supported by robust BD (business development) momentum and healthy new client order; 2) Leading biotech & pharma clients i ...

Core Viewpoint - The China Securities Index for Hong Kong Stock Connect in the healthcare sector has shown significant growth, with a year-to-date increase of 49.37% [1]. Group 1: Index Performance - The China Securities Index for Hong Kong Stock Connect Healthcare Composite Index (930965) rose by 0.85%, reaching 3051.69 points, with a trading volume of 18.538 billion yuan [1]. - Over the past month, the index has increased by 9.40%, and over the last three months, it has risen by 15.29% [1]. Group 2: Index Composition - The index comprises 50 liquid and large-cap healthcare companies listed under the Hong Kong Stock Connect, reflecting the overall performance of these securities [1]. - The index was established on November 14, 2014, with a base point of 3000.0 [1]. Group 3: Top Holdings - The top ten holdings in the index are as follows: - Innovent Biologics (9.96%) - WuXi Biologics (9.13%) - BeiGene (8.86%) - CanSino Biologics (5.83%) - CSPC Pharmaceutical Group (5.6%) - China Biologic Products (5.26%) - JD Health (4.73%) - 3SBio (4.07%) - Hansoh Pharmaceutical (3.15%) - Zai Lab (2.69%) [1]. Group 4: Market and Sector Allocation - The index's holdings are entirely composed of securities listed on the Hong Kong Stock Exchange, with a 100% allocation to the healthcare sector [1].

截至2025年6月30日 14:27，中证香港创新药指数(931787)上涨0.68%，成分股昭衍新药(06127)上涨 11.01%，云顶新耀(01952)上涨9.27%，泰格医药(03347)上涨7.85%，凯莱英(06821)上涨4.84%，药明合 联(02268)上涨4.76%。港股创新药ETF(513120)上涨1.16%。 流动性方面，港股创新药ETF盘中换手33.61%，成交44.72亿元，市场交投活跃。拉长时间看，截至6月 27日，港股创新药ETF近1周日均成交67.88亿元。 规模方面，港股创新药ETF最新规模达133.20亿元。份额方面，港股创新药ETF最新份额达118.60亿 份，创近1月新高。 从资金净流入方面来看，港股创新药ETF近14天获得连续资金净流入，最高单日获得6.09亿元净流入， 合计"吸金"31.59亿元。 融资买入方面，6月27日港股创新药ETF获融资买入5.11亿元，两融余额12.21亿元。 截至6月27日，港股创新药ETF近1年净值上涨86.07%，QDII股票型基金排名1/120。从收益能力看，截 至2025年6月27日，港股创新药ETF自成立以来，最高单月回报为 ...

从中华交易服务香港生物科技指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中华交易服务香港生物科技指数持仓样本的行业来看，生物药品占比56.98%、制药与生物科技服务 占比24.70%、化学药占比16.03%、医疗器械占比2.29%。 金融界6月24日消息，上证指数低开高走，中华交易服务香港生物科技指数 (中华香港生物科技， CESHKB)上涨3.66%，报7559.76点，成交额121.13亿元。 数据统计显示，中华交易服务香港生物科技指数近一个月上涨15.96%，近三个月上涨28.51%，年至今 上涨62.76%。 据了解，"中华交易服务香港生物科技指数由中华证券交易服务有限公司(中华交易服务)委托中证指数 有限公司(中证指数)进行编制，指数编制方案由中华交易服务以及中证指数共同确定。中华交易服务香 港生物科技指数(中华香港生物科技)为证券价格指数，旨在反映于香港上市的生物科技公司的整体表 现"该指数以2014年12月12日为基日，以2000.0点为基点。 从指数持仓来看，中华交易服务香港生物科技指数十大权重分别为：康方生物（10.79%）、信达生物 （10.03%）、百济神州（9.56%） ...

Core Viewpoint - The Hong Kong Innovative Drug ETF (159567) has shown significant growth in both share volume and fund size since its inception, indicating strong investor interest in the innovative drug sector [1]. Group 1: Fund Performance - As of June 24, the Hong Kong Innovative Drug ETF (159567) closed with a gain of 2.25% and a trading volume of 2.373 billion yuan [1]. - The fund was established on January 3, 2024, with a management fee of 0.50% and a custody fee of 0.10% [1]. - The latest share count reached 1.478 billion, with a total fund size of 2.217 billion yuan as of June 23, reflecting a 273.92% increase in shares and a 486.71% increase in size since December 31, 2024 [1]. Group 2: Liquidity and Trading Activity - Over the last 20 trading days, the ETF recorded a cumulative trading amount of 38.434 billion yuan, averaging 1.922 billion yuan per day [1]. - Year-to-date, the ETF has seen a total trading amount of 79.325 billion yuan over 113 trading days, averaging 0.702 billion yuan per day [1]. Group 3: Fund Management - The current fund manager is Ma Jun, who has managed the fund since its inception, achieving a return of 49.94% during the management period [1]. Group 4: Top Holdings - The ETF's top holdings include WuXi Biologics (11.47%), BeiGene (10.87%), and Innovent Biologics (9.60%), among others, with significant market values attributed to each [2].

Group 1 - Company announced a placement of 82.9 million existing shares at a price of HKD 26.60 per share [1]

风险提示：本文所提到的观点仅代表个人的意见，所涉及标的不作推荐，据此买卖，风险自负。 作者：吕执着 来源：雪球 近年来中国创新药行业掀起BD（业务拓展）交易狂潮，中国创新药2024年对外授权交易金额达 571亿美元，2025年初至今对外交易总金额已突破500亿美元。 但在这股热潮背后，我们需要冷静思考：BD究竟是救命稻草还是慢性毒药？哪些企业真正从中受 益？ 一、BD热潮的双面效应 二、潮水退去见真章 真正有实力的企业 通常具备： 差异化创新 ：如康方生物的PD-1/CTLA-4双抗。 BD交易的爆发 源于多重因素：跨国药企面临专利悬崖危机（如默沙东K药2028年到期，诺和诺德 司美格鲁肽2026年到期），急需补充管线；中国药企经过十年积累，已拥有FIC/BIC潜力的管线； 同时国内融资环境趋紧，BD成为"续命"手段。 BD的利好 显而易见： 快速获得现金流（首付款+里程碑款） 借助跨国药企资源加速全球开发 提升中国创新药国际认可度 但 隐忧 同样不容忽视： 高退货率 ：2020年62起BD交易中25起已终止， 退货率40% 核心资产流失 ：恒瑞医药几千万卖的管线被转手卖10亿美金 过度依赖 ：康方生物202 ...

Core Viewpoint - The Hong Kong pharmaceutical sector is experiencing positive momentum, driven by significant developments in innovative drug approvals and collaborations, particularly highlighted during the recent ASCO annual meeting and the announcement of potential licensing deals by major companies [1][2]. Group 1: Market Performance - As of June 13, 2025, the CSI Hong Kong Pharmaceutical and Health Comprehensive Index (930965) saw notable increases in key stocks, including WuXi Biologics (02269) up by 5.41%, and Innovent Biologics (01801) up by 3.53% [1]. - The Hong Kong Medical ETF (513700) rose by 1.28%, with a cumulative increase of 12.57% over the past week as of June 12, 2025 [1][2]. Group 2: Industry Developments - On June 12, 2025, China Biopharmaceutical announced at the 46th Goldman Sachs Global Healthcare Conference in Miami that it has received multiple collaboration intentions for its products, indicating a significant upcoming licensing deal [1]. - The ASCO annual meeting showcased the competitiveness and innovation of Chinese pharmaceutical companies, with several impressive results and data presentations [2]. Group 3: ETF and Index Information - The Hong Kong Medical ETF (513700) effectively tracks the CSI Hong Kong Pharmaceutical and Health Comprehensive Index, which includes 50 liquid and large-cap healthcare companies to reflect the overall performance of the sector [2]. - The top ten weighted stocks in the CSI Hong Kong Pharmaceutical and Health Comprehensive Index as of May 30, 2025, include companies like BeiGene (06160) and WuXi Biologics (02269), collectively accounting for 60.77% of the index [3].

藥明生物(02269)表現強勢，截至14點20分，股價報26.4元，升幅1.54%，資金持續流入。技術面上，RSI升至67，接近超買區，但MACD及一目均衡表仍釋出 買入訊號，短線動能強勁。目前關鍵阻力位在27.5元，若突破則有望挑戰29元；下方支撐位24.7元，若回調至此可視為低吸機會。 技術分析：多頭格局穩固，短線關注突破 藥明生物近期走勢呈現築底回升，10日、30日及60日均線（25.09、23.98、23.91元）呈多頭排列，顯示中期趨勢向好。MACD黃金交叉後持續擴張，保力加 通道亦顯示股價沿上軌運行，短線仍有上行空間。不過，RSI已接近70超買水準，投資者需留意若股價未能突破27.5元，可能面臨短線獲利回吐壓力。 技術 信號總結為"買入"其中有3個賣出信號，6個中立信號以及15個買入信號。 窩輪產品回顧 在2025年6月6日，藥明生物正股兩日內上漲7.1%，相關窩輪產品表現強勁。其中，瑞銀牛證（56751）漲幅最高，達43%，摩通牛證（57118）緊隨其後，上 漲38%。兩只認購證漲幅相對較低，摩利認購證（14687）和中銀認購證（15841）分別上漲11%和22%。 窩輪與牛熊證機會：高槓桿捕捉 ...