Group 1 - The new hypertension treatment drug, Xinchaotuo® (Sacubitril/Alesartan Calcium Tablets), has been launched online by JD Health and is the first original ARNI (Angiotensin Receptor Neprilysin Inhibitor) antihypertensive drug developed in China, offering superior and safer blood pressure control [2] - Xinchaotuo® is the first ARNI drug developed in China and the second ARNI co-crystal drug globally, featuring a design that synchronizes the peak effects of its active metabolite, Sacubitril, and Alesartan, thereby extending the half-life of Alesartan and improving blood pressure control [2] - ARNI drugs not only provide effective blood pressure reduction but also offer heart and kidney protection, making them particularly suitable for patients with hypertension combined with heart failure or chronic kidney disease [2] Group 2 - Xinli Tai Pharmaceutical has strategically focused on the hypertension treatment area, developing a complete family of original Alesartan antihypertensive drugs, including single-agent and combination formulations [3] - JD Health aims to leverage its capabilities to help Xinchaotuo® reach a broader patient base, enhancing the treatment level for hypertension in China through this collaboration [3] - JD Health has been recognized as the "first station for the online launch of new specialty drugs," continuously expanding its value effect and providing innovative drug access to a wide range of patients [3]

Core Viewpoint - The launch of the domestically produced calcipotriene and betamethasone ointment by Chongqing Huabang Pharmaceutical on JD Health marks a significant advancement in psoriasis treatment options for patients in China, providing a more accessible and effective solution [1][2] Group 1: Product Overview - The calcipotriene and betamethasone ointment is the first generic version in China, equivalent to the original product, enhancing treatment options for psoriasis patients [1] - The ointment combines calcipotriene, which inhibits abnormal proliferation of keratinocytes and promotes normal differentiation, with betamethasone, known for its strong anti-inflammatory and immunosuppressive effects [1] Group 2: Market Impact - The product's launch on JD Health signifies an important upgrade in the collaboration between Huabang Pharmaceutical and JD Health, leveraging JD Health's extensive user base and comprehensive healthcare service system [2] - JD Health's capabilities in online consultation, drug delivery, and health management will enhance the market coverage and user reach of the new ointment, benefiting more patients [2]

智通财经6月16日电，香港恒生指数收涨0.7%，恒生科技指数涨1.15%，金山软件涨超11%，新火科技控 股涨超10%，小米集团、京东健康涨超4%，快手、阿里健康涨超3%。 ...

近日，国产药物臣可舒®(通用名：丙酸氟替卡松雾化吸入用混悬液)在京东健康线上首发。这款药物是 治疗儿童及青少年哮喘急性发作的雾化吸入用糖皮质激素(ICS)，由上海新黄河制药有限公司生产，为 哮喘患者带来更高效、更安全的治疗选择。京东健康将充分发挥自身全渠道优势与医疗健康服务能力， 加速新药普及，助力提升儿童呼吸疾病管理的体验。 丙酸氟替卡松雾化吸入用混悬液是新一代雾化ICS，其药物分子结构引入独特化学基团，显著增强了药 物的抗炎活性，同时降低了对下丘脑-垂体-肾上腺(HPA)轴的抑制，提升了安全性。 针对儿童哮喘药物治疗的高安全性需求，丙酸氟替卡松具有高肝脏首过代谢率(99%)和极低口服生物利 用度(≤1%)的特点，在发挥局部抗炎作用的同时，能最大限度地减少药物经消化道进入全身血液循环的 浓度，降低全身不良反应及对儿童生长发育的影响，适合儿童包括低龄儿童使用。此次线上首发的新品 臣可舒®(丙酸氟替卡松雾化吸入用混悬液)，采用2ml:0.5mg*5支/袋*2袋/盒的规格设计，兼顾疗效与用 药便利性，为临床提供了灵活治疗方案。 ICS是国内外权威指南一致推荐的首选抗炎药物，臣可舒®是抗炎强效、儿童安全的雾化ICS ...

Group 1 - The core viewpoint of the articles highlights the launch of Santen's flagship product, Vitamin B12 Eye Drops (Santen Rose®), on JD Health, emphasizing its upgraded design and effectiveness in alleviating visual fatigue [1][2] - The product is backed by clinical research showing a 66.1% efficacy rate in patients using the eye drops alone, compared to 62.5% in those using a combination treatment [2] - JD Health aims to leverage its extensive user base and comprehensive healthcare service system to enhance the market reach and accessibility of Santen Rose® [2] Group 2 - The launch coincides with the increasing prevalence of visual fatigue due to the "screen reading era," creating significant demand for eye drops among younger consumers [1] - Santen Rose® is imported from Japan and packaged in a GMP-certified facility, ensuring high quality and user-friendly design [1] - JD Health's commitment to user health needs and its strategic partnership with Santen will facilitate easier access to this professional eye care product for consumers [2]

野村升京东健康目标价至49港元 受惠京东外卖投资 金十数据6月9日讯，野村发表报告指，京东健康(06618.HK)受惠于京东(09618.HK)进取的外卖投资，目 标价由44港元升至49港元，评级买入。报告指，京东健康的母公司京东于2月进入食品配送市场，并在4 月透过积极的促销和策略性行销活动大幅提升其市场占有率。京东最近的数据显示，在10万名全职骑手 网络的支持下，每天的外送订单超过2500万份，并在客户采用外卖及其配送网络能力方面均录得稳定增 长。 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the Hong Kong pharmaceutical sector, with the CSI Hong Kong Stock Connect Healthcare Index rising by 3.02% as of June 9, 2025, and several key stocks showing significant gains [1] - The Hong Kong pharmaceutical ETF (159718) has seen a weekly increase of 4.58% and a daily trading volume of 8,878.41 million HKD, indicating active market participation [1] - The ETF's recent scale growth of 784.63 million HKD over two weeks places it in the top quartile among comparable funds [1] Group 2 - The 2025 ASCO conference featured a record 73 oral presentations from China, with 184 ADC pipeline studies included, of which 89 (48.4%) were from Chinese enterprises [2] - Chinese companies contributed approximately 49% of the dual-antibody research presented at ASCO, showcasing the country's innovation in drug development [2] - Southwest Securities emphasizes the importance of focusing on drug development that is clinically valuable and patient-centered, suggesting three main lines of investment: leading innovative drugs, biotech, and transformation innovation [2] Group 3 - The latest PE-TTM for the CSI Hong Kong Stock Connect Healthcare Index is 26.04 times, indicating it is at a historical low compared to the past five years [5] - The index comprises 50 liquid and large-cap healthcare companies, with the top ten stocks accounting for 60.77% of the index [5] - The top weighted stocks include BeiGene (06160), WuXi Biologics (02269), and Innovent Biologics (01801), among others, reflecting the concentration of market influence within a few key players [7]

Core Viewpoint - Eye health is a comprehensive concept that goes beyond just having good vision, encompassing various dimensions such as visual acuity, visual field, contrast sensitivity, and visual quality [1][2] Group 1: Current Challenges in Eye Health - The three major challenges in eye health include the increasing prevalence of myopia among younger populations, the widespread occurrence of dry eye disease, and the commonality of visual fatigue combined with chronic inflammation [2] - There is a growing demand for eye disease treatment across all age groups in China, driven by the increasing awareness of eye health issues [1] Group 2: Public Awareness and Misconceptions - There are three main misconceptions among the public regarding eye health: parents overly focus on children's myopia while neglecting other conditions like strabismus and amblyopia; office workers often consider visual fatigue as normal and neglect regular professional check-ups; and older adults mistakenly view presbyopia as a natural aging process, delaying treatment for conditions like cataracts [2] - The demand for eye-related consultations on the JD Health platform has reached over 10,000 daily inquiries, indicating a significant public interest in eye health [2] Group 3: Consumer Behavior and Treatment Trends - Consumers are showing a high frequency and diversity in their demand for ophthalmic medications, but adherence to treatment remains a challenge due to long treatment cycles and difficulty in changing eye care habits [3] - The use of online channels, particularly internet hospitals, is accelerating the process for users from understanding to researching and purchasing ophthalmic medications, with a reported increase in consultation rates by over 20% and a reduction in consultation intervals from 4.3 months to 2.8 months [3]

Core Insights - The "2025 JD Health - Eye Health Industry Summit" was held to promote scientific eye care concepts and explore new user needs and industry trends in the ophthalmology field [1][2] - JD Health aims to enhance patient understanding of eye diseases and expand service boundaries for doctors, leveraging its position as a comprehensive retail channel for ophthalmic medications in China [1][2] Industry Trends - The prevalence of eye health issues is rising due to increased use of electronic devices and fast-paced lifestyles, with approximately 2.2 billion people globally facing vision problems according to WHO [1] - Key trends in eye health include the increasing incidence of myopia among youth, widespread dry eye disease, and the combination of visual fatigue with chronic inflammation [2] Digital Health Solutions - JD Health's online platform has integrated nearly 2,000 top-tier ophthalmologists, providing 24/7 online consultation services with an average response time of 30 seconds [2] - The company has seen significant growth in its ophthalmic medication sales, with a compound annual growth rate of 31.7% over the past three years and a year-on-year growth rate of 56.5% in the first five months of 2025 [4] Consumer Behavior - The "New Generation of Eye Health" white paper indicates that consumer demand for ophthalmic medications is characterized by high frequency and diversity, although adherence to treatment remains a challenge [4] - Online channels, particularly internet hospitals, are accelerating the entire process of understanding, researching, and purchasing eye medications, with a reported increase in consultation rates by over 20% [4] Strategic Partnerships - Companies like Zhenzhiming Pharmaceutical and Santen are leveraging JD Health's platform for B2C and O2O business integration, enhancing brand visibility and meeting consumer demands for immediate access to medications [3] - JD Health is positioned as a launch platform for new ophthalmic products, integrating supply chain, logistics, and digital capabilities to meet user needs effectively [5] Future Developments - JD Health plans to expand its supply chain capabilities and enhance its product offerings for various eye conditions, aiming to create a comprehensive eye health protection system that spans prevention, diagnosis, and rehabilitation [6]

Core Viewpoint - The Hong Kong Internet ETF is showing strong performance, with a significant increase in net value and favorable market conditions for technology stocks, particularly in the context of the AI industry transformation [1][2]. Group 1: Market Performance - As of June 4, 2025, the Hong Kong Internet ETF has risen by 0.49%, with notable increases in constituent stocks such as Alibaba Pictures (3.33%) and Xiaomi Group (1.88%) [1]. - The Hong Kong Internet ETF has seen a net value increase of 39.38% over the past year, ranking 143 out of 2831 index stock funds, placing it in the top 5.05% [2]. - The ETF has a historical one-year profit probability of 100% and an average monthly return of 9.47% during the rising months [2]. Group 2: Financial Metrics - The ETF's Sharpe ratio since inception is 1.51, indicating a favorable risk-adjusted return [3]. - The relative drawdown since inception is 4.62% compared to its benchmark [4]. - The management fee is 0.50% and the custody fee is 0.10%, making it one of the lowest in its category [5]. Group 3: Valuation and Composition - The latest price-to-earnings ratio (PE-TTM) for the index tracked by the ETF is 21.67, which is below 90.91% of the historical data over the past year, indicating a low valuation [5]. - The top ten weighted stocks in the index account for 77.23% of the total, with Alibaba-W (18.49%) and Xiaomi Group-W (15.72%) being the most significant [5][7].