Market Overview - The Hong Kong stock market indices collectively rose on September 15, with the Hang Seng Tech Index increasing by 0.91%, the Hang Seng Index by 0.22%, and the National Enterprises Index by 0.21% [1][2]. Technology Sector - Major technology stocks saw gains, with Alibaba rising over 2%, Xiaomi and NetEase up more than 1%, and Kuaishou increasing by 1% [2][3]. - Tencent Holdings and JD.com remained flat, while Baidu fell over 2% [3]. Lithium Battery Sector - The lithium battery sector performed strongly, led by CATL, which surged over 7% to reach a historical high. Other companies like BYD, Aoin Power, and Ganfeng Lithium also saw increases [2][5]. - The demand for overseas energy storage has surged this year, leading to full orders and capacity shortages among leading battery manufacturers [6]. Biotechnology Sector - The biotechnology sector experienced significant gains, highlighted by a 115.58% increase in the stock price of Yaojie Ankang. Other companies like Baiaosaitu and Jiahe Biotechnology also saw notable increases [6][7]. - Yaojie Ankang received clinical approval for its core product in treating breast cancer, contributing to its stock surge [7]. Coal Sector - Coal stocks rose, with Yanzhou Coal and China Qinfa both increasing over 5%. The overall coal supply-demand dynamics are expected to improve due to production cuts and seasonal demand recovery [8][9]. - Open-source securities noted that the coal sector has dual attributes of cycles and dividends, making it a favorable investment opportunity [9]. Automotive Sector - The automotive sector was active, with Li Auto rising over 4%, and other companies like NIO and BYD also seeing gains [10][11]. - The Ministry of Industry and Information Technology released a growth plan for the automotive industry, targeting approximately 32.3 million vehicle sales in 2025, with a focus on electric vehicles [11]. Real Estate Sector - The real estate sector faced declines, with Country Garden falling over 4% and other major developers like Sunac China and China Overseas Development also experiencing drops [12][13]. - National statistics indicated a 12.9% year-on-year decline in real estate development investment from January to August, with residential investment down by 11.9% [13]. Film and Entertainment Sector - The film and entertainment sector saw declines, with major players like Damai Entertainment dropping over 8% [14][15]. Capital Inflows - Southbound funds recorded a net inflow of HKD 14.473 billion, with significant contributions from both Shanghai and Shenzhen stock connect [19]. Future Outlook - Huaxin Securities suggested a bullish outlook for Hong Kong stocks ahead of potential interest rate cuts by the Federal Reserve, with a focus on opportunities in Chinese concept stocks and the pharmaceutical sector [21].

Market Overview - The Hong Kong stock market opened lower but rebounded, with the Hang Seng Index closing up 0.22% at 26,446.56 points and a total turnover of HKD 290.2 billion [1] - The Hang Seng China Enterprises Index rose 0.21% to 9,384.76 points, while the Hang Seng Tech Index increased by 0.91% to 6,043.61 points [1] Blue Chip Performance - WuXi Biologics (02269) led blue-chip stocks, rising 6.47% to HKD 38.84, contributing 13.66 points to the Hang Seng Index [2] - Other notable blue-chip performers included Li Auto-W (02015) up 4.56% and Nongfu Spring (09633) up 4.11% [2] Sector Highlights - The large technology stocks mostly rose, with Alibaba up over 2% and Kuaishou up 1% [3] - The lithium battery sector saw significant gains, with CATL (03750) surging 7% to a new high [3] - The pharmaceutical sector also performed well, with Jiangsu Hengrui Medicine (02617) skyrocketing 115% [3] Policy and Industry Developments - The National Development and Reform Commission and the National Energy Administration announced a plan to achieve a new energy storage capacity of over 180 million kilowatts by 2027, with an investment of approximately RMB 250 billion [4] - The Ministry of Industry and Information Technology released a plan for the automotive industry aiming for 32.3 million vehicle sales in 2025, with a focus on new energy vehicles [6] Stock Movements - Jiangsu Hengrui Medicine (02617) experienced a dramatic increase of 115.58%, reaching HKD 415 [8] - Lion Group (02562) surged 25.34% to HKD 19.24 after announcing a binding investment agreement in AI and blockchain [9] - Shanghai Fudan (01385) faced pressure, dropping 3.77% to HKD 37.82, following its inclusion in the U.S. entity list [11]

Company Highlights -药捷安康, a biopharmaceutical company focused on innovative therapies for cancer, inflammation, and cardiovascular metabolic diseases, has recently been added to the Hong Kong Stock Connect list, allowing southbound funds to invest in its shares [4] - On September 10,药捷安康 announced that its core product, Tinengotinib (TT-00420), received clinical approval from the National Medical Products Administration of China for a Phase II trial in treating HR+/HER2- recurrent or metastatic breast cancer [4][6] - The stock of药捷安康 surged by 115% on the day, reaching a peak price of 431.4 HKD, and has increased over 30 times since its IPO price of 13.15 HKD, with a market capitalization exceeding 120 billion HKD [5] Industry Insights - 宁德时代 (CATL) saw its A-shares rise by 14%, reaching a historical high of 371.52 HKD, while its H-shares also hit a new high of 476.8 HKD, closing at 465 HKD with a 7.44% increase [6] - According to Pacific Securities, 宁德时代 maintains a leading global market share with a gross margin of 25.58% in the first half of 2025, supported by steady production growth and an expanding product matrix [7] - The report indicates that 宁德时代's battery system capacity reached 345 GWh, with an additional 235 GWh under construction, positioning the company well to meet customer demand [7] Market Trends - The Hong Kong stock market experienced a slight upward trend, with the Hang Seng Index closing at 26,446.56 points, up 0.22%, and the Hang Seng Tech Index rising by 0.91% [2] - Southbound funds continued to show strong buying interest, with a net purchase amount exceeding 14 billion HKD on the first trading day of the week [9] - The market outlook suggests that the Hong Kong stock market may perform strongly following the Federal Reserve's potential interest rate cuts, with historical data indicating an average increase of 35.4% in the Hang Seng Index over the following 12 months [11]

Group 1 - A total of 161 stocks reached a 52-week high as of September 15, with notable performers including Yaojie Ankang-B (02617) at 71.60%, Chengan Technology (08131) at 60.83%, and Brainstorm Aurora-B (06681) at 45.51% [1] - The highest closing price for Yaojie Ankang-B was 415.000, with a peak of 431.400, indicating strong market interest [1] - Chengan Technology's stock closed at 0.128, reaching a high of 0.193, reflecting significant growth potential [1] Group 2 - Other notable stocks that reached new highs include Baize Medical (02609) with a high rate of 33.61%, and BENG SOON MACH (01987) at 27.66% [1] - The list of stocks achieving new highs also includes Jinsheng Group (00794) at 26.67% and Feiyu Technology (01022) at 21.52% [1] - The data indicates a robust performance across various sectors, suggesting a positive market sentiment [1] Group 3 - The report also highlights stocks that reached new lows, with Minshang Chuangke (01632) experiencing a decline of 34.71% [5] - Other stocks that saw significant drops include XI Ernan Tesla (07366) at -17.65% and XI Ernan Tesla-U (09366) at -17.17% [5] - The presence of declining stocks alongside those reaching new highs indicates a mixed market environment [5]

Core Viewpoint - The stock of药捷安康-B (02617) has surged over 50% since its listing on June 23, with a current price increase of 21 times from the initial offering price of 13.15 HKD, reaching 287 HKD and a market capitalization exceeding 110 billion HKD [1] Group 1: Stock Performance - The stock price has increased by 49.09% as of the latest report, with a trading volume of 2.199 billion HKD and a total market value surpassing 110 billion HKD [1] - The stock has experienced a significant volatility with an amplitude of 71% and a turnover rate of only 3.14% [1] Group 2: Regulatory and Clinical Developments - The company has been included in the Hong Kong Stock Connect list effective from September 8, as announced by the Shanghai and Shenzhen Stock Exchanges [1] - On September 10, the company announced that its core product, Tiengogatin combined with Fulvestrant, received clinical implied approval from the National Medical Products Administration for a Phase II trial in treating hormone receptor-positive (HR+) and HER2-negative or low-expressing recurrent or metastatic breast cancer, expected to be completed by September 10, 2025 [1] Group 3: Financial Performance - The company reported no revenue from its main business in the first half of the year, with other income declining from 10.4 million HKD in the first half of 2024 to 3.6 million HKD, a decrease of 65.1% [1] - The pre-tax loss for the first half of the year was 123 million HKD, an improvement compared to a loss of 160 million HKD in the same period of 2024 [1] Group 4: Shareholding Structure - The founder, Wu Yongqian, holds a significant stake of 32.98%, contributing to a limited market float due to substantial institutional holdings [1]

消息面上，上交所、深交所近日发布公告，药捷安康被调入港股通标的名单，自9月8日起生效。9月10 日，药捷安康公布，公司核心产品替恩戈替尼联合氟维司群治疗经治失败的激素受体阳性（HR+）且人 表皮生长因子受体2阴性或低表达（HER2-）的复发或转移性乳腺癌II期临床试验，已于2025年9月10日 获得国家药品监督管理局的临床默示许可。 智通财经APP获悉，药捷安康-B(02617)涨幅扩大逾50%，该股于6月23日上市，不到三个月时间，当前 股价较招股价13.15港元累计飙涨21倍。截至发稿，涨49.09%，报287港元，成交额21.99亿港元，总市 值突破1100亿港元。 值得注意的是，据招股书，药捷安康创始人吴永谦持股比例达32.98%，叠加其他机构持股，市场流通 盘有限。从交易数据看，截至发稿，该股振幅高达71%，换手率仅3.14%。另外，该公司中期业绩显 示，今年上半年未取得主营业务收入，其他收入及收益由2024年上半年的1040万元下降至360万元，降 幅达65.1%；上半年录得税前亏损1.23亿元，相较于2024年同期亏损的1.6亿元有所改善。 ...

（文章来源：每日经济新闻） 每经AI快讯，9月15日，港股药捷安康-B午后涨超50%，该股上个交易日收涨超77%。 ...

Group 1 - The Hang Seng Index rose by 0.29%, gaining 75 points to reach 26,463 points, while the Hang Seng Tech Index increased by 1.11%. The early trading volume in Hong Kong was HKD 162 billion [1] - CRO concept stocks saw significant gains, with Kanglong Chemical (03759) rising over 8% due to accelerated clinical trial review and approval processes. Other notable performers included Zhaoyan New Drug (06127) up 7%, WuXi Biologics (02269) up 5.5%, and Kelaiying (06821) up 4.2% [1] Group 2 - Yaojie Ankang (02617) surged over 33% after being included in the Hong Kong Stock Connect list, effective from September 8 [2] - The lithium battery sector performed well, with Morgan Stanley issuing a positive report on CATL, as market attention shifts to lithium demand expectations for next year. Notable stock movements included Zhongxin Hang (03931) up 4%, CATL (03750) up 7%, and Ganfeng Lithium (01772) up 4% [2] Group 3 - Yunfeng Financial (00376) increased by over 19%, with its stock price doubling within the month following the approval of its virtual asset trading services [3] Group 4 - Ruipu Lanjun (00666) rose nearly 2%, driven by sustained high production levels at major battery manufacturers and a significant increase in the company's energy storage battery shipments [4] Group 5 - Hushang Ayi (02589) gained over 8% after being included in the Hong Kong Stock Connect list, with stable growth in store numbers during the first half of the year [5] - Brainstorm Cell Therapeutics-B (06681) saw a dramatic rise, initially up 83% to a record high, and closing up 36%, with a cumulative increase of over 130% since its inclusion in the Stock Connect list on September 8. The company is noted for developing the first medical-grade digital therapy product for cognitive disorders in China [5] Group 6 - Baiao Saitu-B (02315) increased by over 11% after signing an antibody selection rights evaluation agreement with Merck to advance antibody-drug conjugate lipid delivery solutions [6] Group 7 - Domestic property stocks collectively declined, with Shimao Group (00813) falling nearly 5% and Zhongliang Holdings (02772) dropping over 3% [7]

Core Viewpoint - The Hong Kong Stock Connect Innovation Drug ETF (520880) is experiencing strong performance and investor interest, with significant inflows and a focus on innovative drug development companies [1][3]. Group 1: ETF Performance - The Hong Kong Stock Connect Innovation Drug ETF (520880) has seen a trading volume exceeding 2.3 billion CNY, with a total inflow of over 5.1 billion CNY in the past week [1]. - The ETF is currently trading at a price of 0.653 CNY, reflecting a slight increase of 0.62% [2]. - The ETF has been consistently trading at a premium, indicating strong demand from investors [1]. Group 2: Market Trends - The ETF's underlying index has been revised to exclude CXO companies, focusing solely on innovative drug development firms, which enhances its ability to reflect the performance of China's innovative pharmaceutical sector [3]. - Recent policy support, including the inclusion of HPV vaccines in the national immunization program, is expected to benefit the innovative drug industry [3]. - The core product of one of the ETF's constituent companies, Yaojie Ankang, has received approval for a Phase II trial, marking a significant advancement in its research and development efforts [3]. Group 3: Sector Analysis - Analysts from Guojin Securities and Industrial Securities express optimism about the innovative drug sector, noting that while there may be increased volatility, the overall upward trend remains intact [3]. - The innovative drug sector is expected to continue being a core focus within the pharmaceutical industry, with ongoing policy support anticipated to enhance global competitiveness and commercial profitability [3]. - The top ten weighted stocks in the ETF include major players such as China Biologic Products, BeiGene, and CSPC Pharmaceutical Group, indicating a strong representation of leading companies in the innovative drug space [4].

Core Viewpoint - The stock of药捷安康 (02617) experienced a significant surge of over 200% recently but faced a sharp decline of 18% in early trading, with a current price of 167.5 HKD and a market capitalization dropping below 70 billion HKD [1] Group 1: Stock Performance - The stock saw a cumulative increase of over 200% before the recent decline [1] - As of the latest report, the stock price fell by 12.99% with a trading volume of 333 million HKD [1] Group 2: Company Developments - The company has been included in the Hong Kong Stock Connect list effective from September 8 [1] -药捷安康 focuses on discovering and developing small molecule innovative therapies for oncology, inflammation, and cardiovascular metabolic diseases [1] - As of June 30, 2025, the company has six clinical-stage candidates and several preclinical candidates in its pipeline [1] Group 3: Financial Performance - The company reported no revenue from its main business in the first half of the year, with other income declining from 10.4 million HKD to 3.6 million HKD, a decrease of 65.1% [1] - The decline in other income was attributed to a reduction in bank deposit interest and investment income by 4.1 million HKD and a decrease in government subsidies by 2.7 million HKD [1] - Research and development costs decreased by 30.9% to 98.4 million HKD [1] - The company recorded a pre-tax loss of 123 million HKD, an improvement compared to a loss of 160 million HKD in the same period of 2024 [1]