Group 1 - The core viewpoint of the news highlights the performance of the medical innovation sector, with the China Securities Medical and Medical Device Innovation Index (931484) rising by 0.51% and notable increases in constituent stocks such as Ganli Pharmaceutical (3.05%) and Zhejiang Pharmaceutical (2.29%) [1] - The Medical Innovation ETF (516820) has seen a net inflow of funds over the past five days, with a peak single-day net inflow of 40.537 million yuan, totaling 62.4623 million yuan, averaging a daily net inflow of 12.4925 million yuan [1] - Baichuan Intelligent has launched the Baichuan-M3 Plus evidence-enhanced medical model, achieving a hallucination rate of 2.6%, the lowest globally, and introduced the "Evidence Anchoring" technology to provide citation sources for medical conclusions [1] Group 2 - Everbright Securities emphasizes that the AI+ healthcare sector should focus on several core areas: AI drug development, AI medical imaging, AI chronic disease management, and AI surgical robots, highlighting the strong willingness of pharmaceutical companies to invest in AI drug development due to its potential to significantly shorten drug development cycles [2] - The China Securities Medical and Medical Device Innovation Index selects 30 publicly listed companies with good profitability and growth potential from the pharmaceutical and healthcare sector, reflecting the overall performance of profitable and growth-oriented companies [2] - As of December 31, 2025, the top ten weighted stocks in the index include WuXi AppTec, Hengrui Medicine, Mindray Medical, and others, accounting for 63.75% of the total index weight [2]

Group 1 - The A-share market experienced fluctuations at relatively high levels in Q4 2025, with a slight decrease in overall equity positions of public funds compared to Q3 2025 [1][2] - The average equity positions for stock and mixed funds were 89.06% and 81.05%, respectively, showing a minor decline from the previous quarter [2] - Major holdings in public funds included leading light module companies, with Zhongji Xuchuang and Xinyi Sheng surpassing Ningde Times and Tencent Holdings to become the top two heavyweights [1][4] Group 2 - Several actively managed equity funds significantly increased their positions, with notable examples including Bosera Huixing and GF Chengxiang, which raised their equity positions by 12.31 and 10.3 percentage points, respectively [2] - Fund managers expressed optimism about the A-share market for 2026, citing potential dual benefits from domestic and international liquidity [3][9] - The focus on technology sectors continued, with managers identifying investment opportunities in storage chips, solid-state batteries, and humanoid robots [7][10] Group 3 - The top 50 heavyweights in public funds were primarily concentrated in information technology, consumer goods, and investment sectors, with 18 stocks in the information technology sector [4][6] - AI-related stocks gained prominence, with Zhongji Xuchuang, Xinyi Sheng, and Hanwujing entering the top seven heavyweights due to the AI boom [4][6] - The number of innovative drug companies in the top 50 heavyweights decreased from eight to five by the end of Q4 2025, indicating a shift in investment focus [5] Group 4 - Fund managers anticipate that the AI investment theme will continue to be a primary focus, with expectations for rapid growth in AI applications in the coming years [9][10] - The investment strategy is shifting towards AI applications, including smart driving, edge AI, and humanoid robots, as the industry matures [9][10] - The overall sentiment among fund managers is that the AI-driven technology market will remain a significant area of investment for the next several years [9][10]

Market Overview - The Shanghai Composite Index rose by 0.14% on January 22, with 22 out of the 28 sectors in the Shenwan classification experiencing gains, led by the construction materials and defense industries, which increased by 4.09% and 3.23% respectively [1] - The beauty and banking sectors saw the largest declines, with decreases of 0.76% and 0.43% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 21.612 billion yuan, with 12 sectors experiencing net inflows [1] - The telecommunications sector had the highest net inflow, amounting to 8.019 billion yuan, and it rose by 2.83% [1] - The defense industry also saw significant inflow, with a net inflow of 5.713 billion yuan and a daily increase of 3.23% [1] - The electronics sector faced the largest net outflow, totaling 13.206 billion yuan, followed by the power equipment sector with an outflow of 7.206 billion yuan [1] Pharmaceutical and Biological Industry Performance - The pharmaceutical and biological sector declined by 0.42%, with a net capital outflow of 3.027 billion yuan [2] - Out of 478 stocks in this sector, 253 rose while 204 fell, with 2 stocks hitting the daily limit up [2] - The top three stocks with the highest net inflow were Sanbo Brain Science (1.42 billion yuan), Yunnan Baiyao (667.561 million yuan), and Innovation Medical (637.008 million yuan) [2] - The sector's outflow was led by Hengrui Medicine, which saw a net outflow of 372.7538 million yuan, followed by Xingqi Eye Medicine and Aidi Pharmaceutical with outflows of 208.3529 million yuan and 121.6946 million yuan respectively [3]

电子行业主力资金净流入金额居首。 A股主要指数今日（1月21日 ）集体收涨，行业板块涨多跌少，贵金属、能源金属、采掘行业、电机、 半导体、小金属、电子元件等板块涨幅居前，煤炭、酿酒、商业百货、电网设备等板块跌幅居前。 从今日主力资金情况来看，沪深两市全天主力资金净流入56.08亿元。17个行业主力资金净流入，电 子、有色金属、银行、机械设备行业主力资金净流入金额分别为52.2亿元、43.76亿元、21.59亿元、 11.36亿元；非银金融、通信、计算机、交通运输等行业主力资金净流入金额均超5亿元。 14个主力资金净流出行业中，电力设备、国防军工、传媒行业主力资金净流出金额居前，分别为44.51 亿元、28.47亿元、11.42亿元； 农林牧渔、食品饮料、家用电器、商贸零售行业主力资金净流出金额均 超6亿元。 10股获主力资金净流入均超5亿元 从个股看，56股主力资金净流入均超2亿元，10股获主力资金净流入均超5亿元。 中国长城主力资金净流入14.27亿元，居首。公司近日发布业绩预告，2025年度归母净利润亏损收窄至 3500万元至7000万元，同比减亏95.27%至97.63%，显著改善；扣非净利润亏损6.3 ...

盘后数据出炉。 1月21日，A股市场整体上涨。截至收盘，上证指数报4116.94点，上涨0.08%；深证成指报14255.13点，上涨0.7%；创业板指数报3295.52点，上涨0.54%； 北证50指数上涨0.14%。 1.A股市场主力资金净流入56.08亿元 今日A股市场主力资金开盘净流出41.97亿元，尾盘净流入6.26亿元，A股市场全天主力资金净流入56.08亿元。 | | | 沪深两市近五日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | | 净流入金额 开盘净流入 尾盘净流入 超大单净买入 | | | 2026-1-21 | 56. 08 | -41.97 | 6.26 | 154. 57 | | 2026-1-20 | -764. 07 | -221.93 | -61. 61 | -471.97 | | 2026-1-19 | -397.98 | -162.72 | -58. 29 | -209.12 | | 2026-1-16 | -238.85 | -106. 45 | -38. 37 | -133.83 | | 2026 ...

阿得贝利单抗注射液是公司自主研发的人源化抗PD-L1单克隆抗体，能通过特异性结合PD-L1分子从而 阻断导致肿瘤免疫耐受的PD-1/PD-L1通路，重新激活免疫系统的抗肿瘤活性，从而达到治疗肿瘤的目 的。公司阿得贝利单抗注射液已于2023年获批上市，获批的适应症为与卡铂和依托泊苷联合用于广泛期 小细胞肺癌患者的一线治疗。国外有同类产品Atezolizumab(商品名：Tecentriq)、Avelumab(商品名： Bavencio)和Durvalumab(商品名：Imfinzi)于美国获批上市销售，其中Atezolizumab和Durvalumab已在中 国获批上市。国内有多款同类产品获批上市。经查询，2024年Atezolizumab、Avelumab和Durvalumab全 球销售额合计约为96.48亿美元。截至目前，阿得贝利单抗注射液相关项目累计研发投入约110,100万元 (未经审计)。 SHR-7787注射液为1类治疗用生物制品，通过诱导激活T细胞，使其发挥靶向杀伤肿瘤细胞的作用。截 至目前，SHR-7787注射液相关项目累计研发投入约为5,410万元(未经审计)。 恒瑞医药（600276）(01 ...

SHR-7787注射液为1类治疗用生物制品，通过诱导激活T细胞，使其发挥靶向杀伤肿瘤细胞的作用。截 至目前，SHR-7787注射液相关项目累计研发投入约为5,410万元(未经审计)。 阿得贝利单抗注射液是公司自主研发的人源化抗PD-L1单克隆抗体，能通过特异性结合PD-L1分子从而 阻断导致肿瘤免疫耐受的PD-1/PD-L1通路，重新激活免疫系统的抗肿瘤活性，从而达到治疗肿瘤的目 的。公司阿得贝利单抗注射液已于2023年获批上市，获批的适应症为与卡铂和依托泊苷联合用于广泛期 小细胞肺癌患者的一线治疗。国外有同类产品Atezolizumab(商品名：Tecentriq)、Avelumab(商品名： Bavencio)和Durvalumab(商品名：Imfinzi)于美国获批上市销售，其中Atezolizumab和Durvalumab已在中 国获批上市。国内有多款同类产品获批上市。经查询，2024年Atezolizumab、Avelumab和Durvalumab全 球销售额合计约为96.48亿美元。截至目前，阿得贝利单抗注射液相关项目累计研发投入约110,100万元 (未经审计)。 格隆汇1月21日丨恒瑞医药(0 ...

SHR-7787 注射液为 1 类治疗用生物制品，通过诱导激活 T 细胞，使其发挥靶向杀伤肿瘤细胞的作用。 截至目前，SHR-7787 注射液相关项目累计研发投入约为 5,410 万元(未经审计)。 智通财经APP讯，恒瑞医药(01276)公布，近日，公司子公司上海恒瑞医药有限公司、上海盛迪医药有限 公司收到国家药品监督管理局核准签发关于 SHR-7787 注射液、阿得贝利单抗注射液的《药物临床试验 批准通知书》，将于近期开展临床试验。 阿得贝利单抗注射液是公司自主研发的人源化抗 PD-L1 单克隆抗体，能通过特异性结合 PD-L1 分子从 而阻断导致肿瘤免疫耐受的 PD-1/PD-L1 通路，重新激活免疫系统的抗肿瘤活性，从而达到治疗肿瘤的 目的。公司阿得贝利单抗注射液已于 2023 年获批上市，获批的适应症为与卡铂和依托泊苷联合用于广 泛期小细胞肺癌患者的一线治疗。国外有同类产品 Atezolizumab(商品名：Tecentriq)、 Avelumab(商品 名：Bavencio)和 Durvalumab(商品名：Imfinzi)于美国获批上市销售，其中 Atezolizumab 和 Durvaluma ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，江蘇恒瑞醫藥股份有限公司（「本公司」）在 上海證券交易所網站( www.sse.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 孫飄揚先生 中國上海 2026年1月21日 Jiangsu Hengrui Pharmaceuticals Co., Ltd. 江蘇恒瑞醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1276） 海外監管公告 於本公告日期，董事會成員包括(i)執行董事孫飄揚先生、戴洪斌先生、馮佶女 士、張連山先生、江寧軍先生及孫杰平先生；(ii)非執行董事郭叢照女士；及(iii) 獨立非執行董事董家鴻先生、曾慶生先生、孫金雲先生及周紀恩先生。 证券代码：600276 证券简称：恒瑞医药 公告编号：临 2026-01 ...

根据公告，SHR-7787注射液为1类治疗用生物制品，通过诱导激活T细胞，使其发挥靶向杀伤肿瘤细胞 的作用。阿得贝利单抗注射液是公司自主研发的人源化抗PD-L1单克隆抗体，能通过特异性结合PD-L1 分子从而阻断导致肿瘤免疫耐受的PD-1/PD-L1通路，重新激活免疫系统的抗肿瘤活性，从而达到治疗 肿瘤的目的。 北京商报讯（记者 王寅浩 宋雨盈）1月21日，恒瑞医药发布公告称，公司子公司上海恒瑞医药有限公 司、上海盛迪医药有限公司收到国家药品监督管理局核准签发关于SHR-7787注射液、阿得贝利单抗注 射液的《药物临床试验批准通知书》，将于近期开展临床试验。 ...