Summary of Key Points Core Viewpoint - Nocera Health (688428) has shown a positive stock performance, with a closing price of 24.56 yuan as of June 6, 2025, reflecting a 2.25% increase from the previous week [1]. Company Announcements - As of May 31, 2025, the company's legal/registered capital remains unchanged at 25,000,000,000 shares, with a total nominal value of USD 50,000 [1][3]. - The number of issued shares remains stable, with 1,494,598,235 shares listed on the Hong Kong Stock Exchange and 266,282,967 shares on the Shanghai Stock Exchange [1][3]. - There were no new additions or reductions in issued or treasury shares during the month [1]. - Under the 2023 and 2024 RMB stock incentive plans, a total of 7,209,000 and 9,870,200 restricted shares were granted at prices of 6.95 yuan and 6.65 yuan, respectively [1]. - As of the end of May 2025, 633,250 and 70,000 restricted shares have lapsed [1][3].

Core Viewpoint - The Hong Kong stock market is expected to open higher, with a positive pre-market performance in the innovative drug sector, driven by significant approvals for new drugs in China [1] Group 1: Market Performance - The Hong Kong innovative drug index constituents saw notable gains, with Innovent Biologics rising over 6%, and other companies like Zai Lab and WuXi AppTec increasing by over 2% [1] - The Hong Kong innovative drug ETF (159567) experienced a net inflow of over 165 million yuan in the past 20 trading days, indicating high market enthusiasm [1] - The price-to-earnings ratio of the Hong Kong innovative drug index decreased from 64 times on February 21 to 27 times on June 4, highlighting improved value for investors [1] Group 2: Regulatory Developments - On May 29, the National Medical Products Administration of China approved 11 innovative drugs, including 7 first-class innovative drugs, marking a historic moment for the sector [1] - Over 20 first-class innovative drugs have been approved from January to May, setting a record for the same period in the past five years [1] - The Chinese pharmaceutical industry is transitioning from "follow-up innovation" to "global leadership," focusing on clinical value in key areas like targeted cancer therapies and immunotherapy [1] Group 3: Investment Opportunities - The innovative drug ETF (159567) tracks the National Index of Hong Kong Innovative Drugs, with 90% of its weight in innovative drug companies, positioning it to benefit from trends like AI-enabled drug development and the expansion of domestic innovative drugs [1] - The innovative drug ETF (159992) encompasses leading companies in the innovative drug industry chain, benefiting from AI advancements and the introduction of new drug reimbursement policies [2] - The domestic innovative drug sector is expected to show strong growth and investment value in the first half of 2025, driven by ongoing international collaborations and the approval of new drugs [2]

Core Viewpoint - The company announced the presentation of innovative pipeline data at the 2025 American Society of Clinical Oncology (ASCO) annual meeting, highlighting advancements in its drug candidates [1] Group 1: Pipeline Innovations - The company will present data on the anti-CCR8 antibody ICP-B05 (CM369) [1] - The company will showcase findings related to the BCL2 inhibitor mesutoclax (ICP-248) [1] - The company will also introduce updates on the pan-TRK inhibitor zurletrectinib (ICP-723) [1]

| A | 股代码：688428 | 股简称：诺诚健华 A | 公告编号：2025-019 | | --- | --- | --- | --- | | 港股代码：09969 | | 港股简称：诺诚健华 | | 诺诚健华医药有限公司 关于使用部分暂时闲置募集资金进行现金管理及 以通知存款、协定存款等方式存放募集资金的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 2025 年 5 月 29 日，诺诚健华医药有限公司（以下简称"公司"或"诺诚健 华"）召开董事会，审议通过了《使用部分暂时闲置募集资金进行现金管理及以 通知存款、协定存款等方式存放募集资金》的议案，同意公司在确保不影响募集 资金投资项目建设及募集资金使用安排，并有效控制风险的前提下，将最高不超 过 10 亿元人民币的暂时闲置募集资金进行现金管理，购买安全性高、流动性好 的低风险投资产品（包括但不限于结构性存款、定期存款、大额存单等），在董 事会审议通过之日起 12 个月内可进行该现金管理，且该 10 亿元人民币额度可循 环滚动使用；并同意公司以通知存款、协定 ...

Core Insights - The approval of multiple BTK inhibitors in China is transforming the treatment landscape for Chronic Lymphocytic Leukemia (CLL) and B-cell lymphomas, with a notable shift towards second-generation BTK inhibitors [1][3][4] Group 1: Market Overview - As of now, five BTK inhibitors have been approved in China, including three imported drugs and two domestic drugs, with the first-generation inhibitor ibrutinib and three second-generation inhibitors [3] - The global incidence of CLL is significant, with 191,000 new cases and 61,000 deaths annually, primarily affecting elderly patients with a median age of 65 in China [2] Group 2: Treatment Efficacy and Safety - The five-year survival rate for CLL patients is high, ranging from 80% to 90%, with low-risk patients having a median survival of nearly 20 years [2] - Newer BTK inhibitors demonstrate improved safety profiles compared to first-generation inhibitors, which have seen a decline in global recommendation levels due to safety concerns [3][4] Group 3: Future Directions - The development of BCL2 inhibitors is underway, with ongoing clinical trials combining these with BTK inhibitors, indicating a potential new direction for CLL treatment [5] - The increasing elderly population in China presents challenges for long-term management of CLL patients, necessitating systematic approaches to address treatment adherence and adverse effects [5]

Core Viewpoint - The report highlights the performance and holdings of the Huatai-PineBridge Medical Services Flexible Allocation Mixed Fund A, indicating a recent decline in net value but strong returns over various time frames [1]. Fund Performance - The latest net value of the fund is 1.5670 yuan, reflecting a decrease of 1.94% - Over the past month, the fund achieved a return of 3.91%, ranking 171 out of 1959 in its category - In the last three months, the fund's return was 22.33%, ranking 5 out of 1950 - Year-to-date, the fund has returned 30.15%, ranking 17 out of 1943 [1]. Fund Holdings - The top ten stock holdings of the fund account for a total of 64.17%, with the following allocations: - Heng Rui Medicine: 10.23% - Kelun Pharmaceutical: 9.09% - Baile Tianheng: 8.94% - Haizike: 8.27% - Xinlitai: 6.66% - Zai Jian Pharmaceutical-U: 6.10% - Xin Nuo Wei: 4.69% - Rongchang Biotechnology: 3.49% - Nuocheng Jianhua-U: 3.35% - Microelectrophysiology: 3.35% [1]. Fund Background - The Huatai-PineBridge Medical Services Flexible Allocation Mixed Fund A was established on June 18, 2015, and as of March 31, 2025, it has a total scale of 4.408 billion yuan - The fund manager is Zhang Wei, who has extensive experience in the pharmaceutical sector [1][2].

Core Viewpoint - The article discusses the performance and holdings of the Industrial and Commercial Bank of China Medical Healthcare Stock Fund, highlighting its recent net value, returns, and top holdings [1]. Fund Performance - The latest net value of the ICBC Medical Healthcare Stock Fund is 2.5580 yuan, reflecting a decrease of 1.16% - The fund's return over the past month is 3.52%, ranking 172 out of 940 in its category - Over the last six months, the return is 9.79%, with a ranking of 202 out of 914 - Year-to-date, the return stands at 12.24%, ranking 98 out of 926 [1]. Fund Holdings - The top ten holdings of the ICBC Medical Healthcare Stock Fund account for a total of 39.79%, with the following key positions: - Heng Rui Medicine: 8.90% - WuXi AppTec: 5.12% - Aier Eye Hospital: 4.94% - BeiGene: 3.77% - Zai Lab: 3.52% - New Horizon Health: 3.27% - Mindray Medical: 2.80% - Yuwell Medical: 2.76% - United Imaging Healthcare: 2.47% - Innovent Biologics: 2.24% [1]. Fund Management - The ICBC Medical Healthcare Stock Fund was established on November 18, 2014, and as of March 31, 2025, it has a total scale of 2.724 billion yuan - The fund is managed by Zhao Bei and Ding Yang, both of whom have extensive experience in the healthcare sector [1][2].

Core Viewpoint - The ICBC Medical Care Stock Fund (000831) has shown positive performance with a recent net value of 2.5640 yuan, reflecting a growth of 2.07% [1] Performance Summary - The fund's one-month return is 4.48%, ranking 672 out of 1022 in its category - Over the last three months, the return is 7.69%, with a ranking of 96 out of 1009 - Year-to-date, the return stands at 12.51%, ranking 128 out of 999 [1] Holdings Overview - The top ten holdings of the fund account for a total of 39.79%, with the following key positions: - Heng Rui Medicine: 8.90% - WuXi AppTec: 5.12% - Aier Eye Hospital: 4.94% - BeiGene: 3.77% - Zai Lab: 3.52% - New Horizon Health: 3.27% - Mindray Medical: 2.80% - Yuyue Medical: 2.76% - United Imaging Healthcare: 2.47% - Innovent Biologics: 2.24% [1] Fund Details - The ICBC Medical Care Stock Fund was established on November 18, 2014, and as of March 31, 2025, it has a total scale of 2.724 billion yuan - The fund is managed by Zhao Bei and Ding Yang [1][2]

Group 1 - The pharmaceutical sector is experiencing significant activity, with notable stocks such as Sanofi and Yipinhong reaching their daily limit up of 19.99%, and others like Shutaishen rising over 9% [1] - Major pharmaceutical companies reported impressive Q1 earnings, with BeiGene achieving a revenue of 8.048 billion yuan, a 50.2% increase from the previous year, and a significant reduction in net losses [1] - Innovent Biologics reported a revenue of 381 million yuan for Q1, marking a 129.92% year-on-year growth, and a net profit of 18 million yuan, up 112.62% year-on-year, indicating a turnaround to profitability [1] Group 2 - Wanlian Securities forecasts a performance divergence in the pharmaceutical sub-sectors for Q1 2024 and 2025, with strong revenue and profit growth expected in medical R&D outsourcing, hospitals, and other biological products [2] - The chemical pharmaceutical sector is gaining market attention, focusing on innovation-driven growth, domestic production, and policy immunity [2] - China Galaxy notes that the pharmaceutical sector has undergone a long adjustment period, resulting in low valuations and underweight public holdings, with expectations for policy support and market demand recovery to drive growth [2]

截至2025年5月20日 09:35，恒生医疗保健指数(HSHCI)强势上涨2.69%，成分股三生制药(01530)上涨33.93%，欧康维视生物-B(01477)上涨7.44%，再鼎医药 (09688)上涨6.39%，石药集团(01093)，诺诚健华(09969)等个股跟涨。恒生医疗ETF(513060)高开高走上涨2.48%，冲击3连涨。最新价报0.50元。流动性方 面，恒生医疗ETF盘中换手2.6%，成交2.66亿元。拉长时间看，截至5月19日，恒生医疗ETF近1月日均成交12.37亿元，居可比基金第一。 湘财证券指出，近期在国家鼓励创新大背景下创新药产业链表现活跃，虽然医药工业复苏仍有待验证，行业受医保控费压力仍在，但多层次的支付体系正在 建立，医疗需求的刚性将共同推动行业企稳回升，建议关注高成长及预期改善两大方向，具体而言：（1）高成长：医药外包服务中的ADCCDMO、减肥药 产业链多肽CDMO等方向公司。（2）预期改善：盈利能力有望触底回升的第三方检验医学实验室，消费医疗中的眼科及口腔等方向的公司。 恒生医疗ETF紧密跟踪恒生医疗保健指数，恒生医疗保健指数提供一项市场参考指标，反映在香港上市、主要 ...