来源：新浪基金∞工作室 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 规模方面，截止8月28日，港股创新药ETF（159567）最新份额为66.19亿份，最新规模为61.26亿元。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1574.08%，规模增加1521.35%。 流动性方面，截止8月29日，港股创新药ETF（159567）近20个交易日累计成交金额342.26亿元，日均 成交金额17.11亿元；今年以来，161个交易日，累计成交金额1775.81亿元，日均成交金额11.03亿元。 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85.10%。 最新定期报告显示，港股创新药ETF（159567）重仓股包括信达生物、药明生物、百济神州、康方生 物、中国生物制药、中国生物制药、石药集团、三生制药、翰森制药、再鼎医药，持仓占 ...

人民财讯8月29日电，港股收盘，恒生指数涨0.32%，恒生科技指数涨0.54%。比亚迪电子涨超7%，药明 生物、石药集团涨超6%。 转自：证券时报 ...

Group 1 - Pharmaceutical stocks showed strong performance today, with notable increases in share prices for companies such as Heptares Therapeutics-B (up 16.3% to HKD 14.77), Rongchang Biopharmaceutical (up 12.5% to HKD 99), and Kintor Pharmaceutical-B (up 11.92% to HKD 22.34) [1] - Upcoming major events include the World Lung Cancer Conference (WCLC) in September and the European Society for Medical Oncology (ESMO) in October, where several innovative domestic drug research results will be presented, including AK112 from Kangfang Biopharmaceutical and DB-1311 from Ying'en Biopharmaceutical [1] - Several Chinese pharmaceutical companies have announced significant patent licensing transactions since August, including Rongchang Biopharmaceutical's agreement with Santen Pharmaceutical for RC28-E injection, involving an upfront payment of CNY 250 million, potential milestone payments of up to CNY 520 million, and sales milestone payments of up to CNY 525 million [1] Group 2 - Guoyuan Securities noted that as the mid-year report season concludes, the market is shifting focus towards new directions, particularly in innovative drugs, overseas expansion, and the clearing of centralized procurement [2] - The innovative drug sector in China is entering a stage of result realization, with many research and development catalysts expected to drive growth, unaffected by trade wars, making it a key investment theme for the pharmaceutical sector in 2025 [2] - Some innovative drug stocks have seen significant price increases, and it is recommended to pay attention to those with research and development catalysts that have previously lagged in stock performance [2]

Core Viewpoint - The Hong Kong pharmaceutical outsourcing sector experienced a significant rally, with multiple companies seeing substantial stock price increases on August 29. Group 1: Stock Performance - Vyaire Biotech (01873.HK) surged over 17% [2] - WuXi Biologics (02269.HK) rose more than 8.5% [2] - Zai Lab (06127.HK) and WuXi AppTec (02359.HK) both increased by over 7% [2] - Kelun Pharmaceutical (06821.HK) and Hangzhou Tigermed Consulting (03759.HK) both saw gains exceeding 4% [2]

截至2025年8月29日 10:57，恒生医疗保健指数(HSHCI)强势上涨2.89%，成分股时代天使(06699)上涨7.60%，微创机器人-B(02252)上涨7.19%，药明生物 (02269)上涨6.77%，信达生物(01801)，平安好医生(01833)等个股跟涨。恒生医疗ETF(513060)上涨2.49%，最新价报0.7元。拉长时间看，截至2025年8月28 日，恒生医疗ETF近3月累计上涨36.13%。 流动性方面，恒生医疗ETF盘中换手20.42%，成交15.43亿元，市场交投活跃。拉长时间看，截至8月28日，恒生医疗ETF近1月日均成交24.23亿元，排名可 比基金第一。 截至2025年8月29日 10:57，恒生港股通创新药精选指数(HSSCPB)强势上涨3.31%，成分股药明生物(02269)上涨6.77%，信达生物(01801)上涨5.68%，石药集 团(01093)上涨5.19%，药明康德(02359)，药明合联(02268)等个股跟涨。港股创新药精选ETF(520690)上涨3.20%，最新价报1元。 流动性方面，港股创新药精选ETF盘中换手26.45%，成交9035.68万元， ...

8月29日，生物医药ETF（159859）盘中走强，截至发稿涨1.16%，成交额超9400万元，居同标的第 一。成分股中，荣昌生物涨超4%，爱美客、甘李药业、药明康德等跟涨。 华源证券认为，2025年，医药行业已具备多重积极发展因素，基本完成了新旧增长动能转换（创新替代 仿制，出海能力提升），创新药打开中国医药企业增长新曲线。 Wind金融终端数据显示，生物医药ETF（159859）连续三个交易日获资金净流入，累计"吸金"超6100 万元。 万和证券表示，整体来看，指数短线或将面临震荡，但板块轮动表现，不少低位滞涨的品种开启补涨走 势说明资金高低切换迹象逐步加强，市场延续结构性行情，未来降息叠加经济复苏预期，顺周期等方向 仍可重点关注。 生物医药ETF（159859）紧密跟踪国证生物医药指数（399441.SZ），该指数布局均衡，覆盖A股创新 药，CXO，疫苗，血制品多个方向。生物医药ETF（159859）为同标的规模最大、流动性最好的产品。 该ETF还配备了联接基金（A：011040，C：011041）。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 此 ...

Group 1 - The Hong Kong Innovative Drug ETF (159567) closed down 1.26% on August 28, with a trading volume of 2.227 billion yuan [1] - The fund was established on January 3, 2024, with a management fee of 0.50% per year and a custody fee of 0.10% per year [1] - As of August 27, 2024, the fund's latest share count was 6.506 billion shares, with a total size of 6.134 billion yuan, reflecting a year-to-date increase of 1545.50% in shares and 1523.46% in size compared to December 31, 2023 [1] Group 2 - The current fund manager is Ma Jun, who has managed the fund since its inception, achieving a return of 88.56% during the tenure [2] - The top holdings of the fund include Innovent Biologics (9.52%), WuXi Biologics (9.47%), BeiGene (8.73%), and others, with their respective market values and share counts detailed [2] - The fund's liquidity is strong, with a cumulative trading amount of 35.359 billion yuan over the last 20 trading days, averaging 1.768 billion yuan per day [1][2]

Market Overview - The Hong Kong stock market experienced a collective decline in the morning session, with the Hang Seng Index falling by 0.66%, narrowly holding above 25,000 points, while the Hang Seng China Enterprises Index dropped by 0.86% and the Hang Seng Tech Index decreased by 1.04%, marking three consecutive days of decline [2][2][2] - Southbound capital recorded a net sell-off exceeding 10 billion HKD [2] Sector Performance - Major technology stocks, which serve as market indicators, showed collective weakness, particularly Meituan, which plummeted over 10% post-earnings, marking the worst performance. Alibaba and JD.com fell nearly 4%, while Baidu dropped over 1%. Xiaomi and Tencent also experienced declines [2][2][2] - The biopharmaceutical sector continued to decline due to impending drug tariffs, with innovative drug companies facing significant drops, including a more than 12% decline for BGI Genomics, alongside declines for Kangfang Bio, Zai Lab, WuXi Biologics, and BeiGene [2][2][2] - Chinese electric vehicle stocks in the US market also fell, leading to a collective drop in Hong Kong's new energy vehicle sector. Other sectors such as new consumption, steel, building materials, beer, heavy machinery, catering, and gambling stocks also saw declines [2][2][2] Positive Trends - Institutions are optimistic about the accelerated replacement of domestic chips, leading to a significant rise in semiconductor stocks, with SMIC surging over 8% and approaching historical highs [2][2][2] - Financial stocks, including domestic banks, Chinese brokerage firms, and domestic insurance stocks, generally performed actively, while oil and rare earth concept stocks saw widespread increases [2][2][2]

截至2025年8月28日 10:15，恒生医疗保健指数(HSHCI)下跌1.23%。成分股方面涨跌互现，复星医药(02196)领涨2.82%，信达生物(01801)上涨2.03%，康诺 亚-B(02162)上涨1.58%；爱康医疗(01789)领跌10.79%，威高股份(01066)下跌10.17%，博安生物(06955)下跌7.25%。恒生医疗ETF(513060)下跌1.15%，最新 报价0.69元。拉长时间看，截至2025年8月27日，恒生医疗ETF近1月累计上涨6.26%，涨幅排名可比基金1/3。 流动性方面，恒生医疗ETF盘中换手10.37%，成交7.80亿元，市场交投活跃。拉长时间看，截至8月27日，恒生医疗ETF近1月日均成交24.17亿元，居可比基 金第一。 截至2025年8月28日 10:15，恒生港股通创新药精选指数(HSSCPB)下跌1.02%。成分股方面涨跌互现，复星医药(02196)领涨2.82%，信达生物(01801)上涨 2.03%，康诺亚-B(02162)上涨1.58%；晶泰控股(02228)领跌4.67%，再鼎医药(09688)下跌3.40%，康哲药业(00867)下跌3.0 ...

Summary of Conference Call Records Industry or Company Involved 1. **Gaming Industry** [3][4][6][7] 2. **CDMO (Contract Development and Manufacturing Organization)** [2][16][20] 3. **Baijiu (Chinese Liquor) Industry** [9][10][15] 4. **Chlor-alkali Industry** [2][21][22][28] Key Points and Arguments Gaming Industry 1. **Record Number of Game Approvals**: In August 2025, a total of 166 domestic games were approved, marking a historical high, with 1,050 approvals in the first eight months of the year, significantly higher than 850 in the same period last year [3][4]. 2. **Strong Performance Indicators**: High-frequency data and better-than-expected mid-year reports suggest continued growth in the gaming sector, particularly during the summer peak season [6][7]. 3. **Revenue Growth**: Tencent reported domestic and overseas game revenues of 40.4 billion yuan (up 17% YoY) and 18.8 billion yuan (up 35% YoY) respectively for Q2 2025, driven by popular titles [6]. 4. **Market Recovery**: The gaming market is showing signs of strong recovery, with significant increases in daily active users for key games, indicating a positive trend for the industry [7]. CDMO Industry 1. **Revenue and Profit Growth**: CDMO companies have shown accelerated revenue and profit growth in the first half of 2025, with a positive order trend. Notably, WuXi AppTec raised its performance guidance [16][20]. 2. **Order Backlog**: WuXi AppTec reported a backlog of 56.69 billion yuan (up 37.2% YoY) and WuXi Biologics had a backlog of 20.34 billion USD, indicating strong future revenue potential [16]. 3. **Segment Growth**: The large molecule CDMO segment is recovering, with significant growth in dual antibodies and antibody-drug conjugates (ADC) [18][19]. Baijiu Industry 1. **Asset Pricing Recovery**: The Baijiu sector is at a turning point for asset pricing recovery, with signs of demand improvement as the Mid-Autumn Festival and National Day approach [9][10][15]. 2. **Market Dynamics**: The recent rebound in Baijiu stocks is attributed to a combination of market conditions, including a bull market and improved liquidity, which may attract long-term investment [10][15]. 3. **Performance Trends**: Despite some companies reporting declines in earnings, leading brands like Kweichow Moutai have shown resilience, maintaining positive growth in revenue and net profit [12]. Chlor-alkali Industry 1. **Profitability at a Low Point**: The chlor-alkali industry is currently experiencing low profitability, with expectations for recovery driven by demand and supply-side stimuli [21][28]. 2. **Market Dynamics**: The industry is closely tied to GDP growth, with steady increases in caustic soda and PVC exports. The transition to more efficient production methods is seen as a potential growth driver [21][22]. 3. **Production Statistics**: In 2024, the domestic caustic soda production was 42.18 million tons, and PVC production was 24.68 million tons, with significant economic implications for the industry [22][23]. Other Important but Possibly Overlooked Content 1. **Investment Opportunities**: The reports highlight potential investment opportunities in specific companies within the gaming, CDMO, Baijiu, and chlor-alkali sectors, suggesting a focus on firms with strong performance indicators and growth potential [8][20][33]. 2. **Regulatory Environment**: The gaming industry is benefiting from favorable regulatory changes, while the chlor-alkali sector is facing stricter environmental regulations that could impact production methods and costs [21][31]. 3. **Long-term Trends**: The reports emphasize the importance of long-term trends in consumer behavior and market dynamics, particularly in the context of economic recovery and changing consumer preferences [15][28].