华大智造公告，预计2025年年度实现归属于母公司所有者的净利润与上年同期（法定披露数据）相比， 实现归属于母公司所有者的净利润-2.73亿元到-2.21亿元，与上年同期相比，亏损将减少3.28亿元到亏损 减少3.8亿元，同比亏损减少54.56%到亏损减少63.22%。 ...

数据显示，截至2025年12月31日，上证科创板生物医药指数前十大权重股分别为联影医疗、百济神州、 艾力斯、百利天恒、惠泰医疗、君实生物、泽璟制药、华大智造、博瑞医药、荣昌生物，前十大权重股 合计占比48.85%。 科创医药ETF嘉实(588700)紧密跟踪上证科创板生物医药指数，一键布局生物医药产业。 没有股票账户的投资者可以通过科创医药ETF嘉实联接基金(021061)一键布局科创板生物医药板块机 遇。 2026年1月23日早盘，医药商业、医疗服务等板块涨幅居前，截至11:05，上证科创板生物医药指数强势 上涨1.52%，成分股成都先导上涨5.48%，华大智造上涨4.25%，欧林生物上涨3.69%，荣昌生物，奕瑞 科技等个股跟涨。 消息上，商务部等九部门发布关于促进药品零售行业高质量发展的意见提出，推动药品零售企业参加药 品集中采购。鼓励行业协会或区域医药流通龙头企业牵头，引导药品零售企业参与药品集中带量采购。 针对其他药品，鼓励零售药店整合采购需求，开展联合采购，实现量价挂钩，提升议价能力。支持药品 零售企业按规定通过省级医药采购平台采购，生产企业需做好供应保障。 近期，中国医药产业正站在全球化价值重估 ...

Investment Rating - The report maintains an "Outperform" rating for several companies, including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, Sichuan Kelun Pharmaceutical, and Jiangsu Nhwa Pharmaceutical [6][7]. Core Insights - The annual J.P. Morgan Healthcare Conference concluded successfully, with positive information from global pharmaceutical companies, including new pipeline disclosures and major deals. The report highlights the high prosperity in the innovative drug sector and recommends continuous investment in innovative drugs and the industry chain [25][26]. - The A-Shares pharmaceutical sector underperformed the market in the third week of January 2026, with the Shanghai Composite Index falling by 0.4% and the SW Pharmaceutical and Biological sector declining by 0.7% [8][27]. - The Hong Kong stock pharmaceutical sector performed in line with the market, while the U.S. pharmaceutical sector underperformed. The Hang Seng Healthcare index increased by 2.4%, and the S&P 500 Healthcare Select Sector decreased by 1.1% [28]. Summary by Sections Section 1: Continuous Recommendation of Innovative Drugs and Industry Chain - The report emphasizes the high prosperity of innovative drugs and maintains overweight ratings for key pharmaceutical companies. It also recommends Biopharma/Biotech companies with promising pipelines and volume increases, as well as CXO and upstream companies benefiting from innovation [6][25]. Section 2: A-Shares Pharmaceutical Sector Performance - In the third week of January 2026, the A-Shares pharmaceutical sector's performance was ranked 17th among Shenwan primary industries, with a decline of 0.7%. The medical service sub-sector showed a positive performance of +3.3% [8][12][27]. Section 3: Hong Kong and U.S. Pharmaceutical Sector Performance - The Hong Kong pharmaceutical sector performed similarly to the market, while the U.S. sector underperformed. Notable gainers in the U.S. included MODERNA (+22%) and QUEST DIAGNOSTICS (+9%), while major decliners included BIOGEN (-12%) and BOSTON SCIENTIFIC (-10%) [28].

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4] Core Viewpoints - The US tumor gene testing industry is accelerating, and there are positive domestic opportunities. The market for gene testing has low penetration rates but high growth potential, particularly in colorectal cancer early screening, treatment selection, and minimal residual disease (MRD) testing, which are all billion-dollar markets [3][8] - The report emphasizes the importance of innovation in the pharmaceutical sector, highlighting that the Chinese pharmaceutical industry has completed a transition from old to new growth drivers, particularly in innovative drugs. Companies like Heng Rui Medicine and Han Sen Pharmaceutical have made significant strides in innovation [5][41] - The report suggests that the aging population and the increasing demand for healthcare services will continue to drive growth in the pharmaceutical industry, supported by a multi-layered payment system and advancements in technology such as AI and brain-computer interfaces [41][42] Summary by Sections Market Performance - From January 12 to January 16, the pharmaceutical index fell by 0.68%, with 202 stocks rising and 261 falling. The top gainers included Baolait (up 48.76%) and Hualan Biological (up 32.72%), while the biggest losers were Sunflower (down 37.48%) and *ST Changyao (down 33.33%) [5][25][27] Gene Testing Industry - The report highlights the rapid development of the US tumor gene testing industry, with companies like Natera and Guardant Health showing impressive revenue growth. Natera's Q4 2025 revenue reached $660 million, a 39% year-on-year increase, while Guardant Health's revenue for the same period was $280 million, also up 39% [8][9] - The report notes that the domestic gene testing market is expected to grow rapidly, with companies like BGI and Edan Diagnostics actively positioning themselves in the MRD and early screening sectors [24][22] Investment Recommendations - The report recommends focusing on strong fundamentals and undervalued stocks in the innovative drug sector, including companies like Xinyi Tai, Zecjin Pharmaceutical, and Shanghai Yizhong. It also suggests monitoring emerging technologies in healthcare, such as AI and brain-computer interfaces, which are expected to see significant advancements in 2026 [5][45][44] - Specific investment combinations for January include Xinyi Tai, China Biologic Products, and Sanofi Pharmaceutical, among others [45]

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector [6][26]. Core Insights - The report emphasizes the continuous recommendation of innovative pharmaceuticals and medical devices, highlighting the high growth potential in the sector. It maintains "Overweight" ratings for companies such as Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also recommends Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][3]. Summary by Sections 1. Continuous Recommendation of Innovative Pharmaceuticals and Medical Devices - The report highlights the high growth potential of innovative drugs and recommends several companies for investment, including Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also suggests Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][7]. 2. A-share Pharmaceutical Sector Performance - In the third week of January 2026, the A-share pharmaceutical sector underperformed the broader market, with the Shanghai Composite Index declining by 0.4% and the SW Pharmaceutical and Biotech index falling by 0.7% [8][11]. 3. Hong Kong and US Market Performance - The Hong Kong pharmaceutical sector performed in line with the market, while the US pharmaceutical sector underperformed. In the same week, the Hang Seng Healthcare index rose by 2.4%, and the S&P 500 healthcare sector fell by 1.1% [19][20].

近10日内医疗健康R（480016）指数成份股做了调整，新纳入了1只股票，剔除了1只股票。 证券之星消息，1月16日，医疗健康R（480016）指数报收于7488.95点，跌0.88%，成交318.44亿元，换 手率1.07%。当日该指数成份股中，上涨的有13家，奕瑞科技以4.6%的涨幅领涨，下跌的有37家，华大 智造以6.61%的跌幅领跌。 医疗健康R（480016）指数十大成份股详情如下： 资金流向方面，医疗健康R（480016）指数成份股当日主力资金净流出合计3.81亿元，游资资金净流出 合计7.44亿元，散户资金净流入合计11.25亿元。成份股资金流向详情见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Core Viewpoint - The medical device sector experienced a decline of 1.58% on January 16, with Kangzhong Medical leading the losses, while the Shanghai Composite Index fell by 0.26% and the Shenzhen Component Index decreased by 0.18% [1]. Group 1: Market Performance - The medical device sector's stocks showed mixed performance, with notable gainers including Huakang Clean (20.01% increase) and Yirui Technology (4.60% increase) [1]. - Conversely, Kangzhong Medical saw a significant drop of 8.60%, followed by Huada Zhizao with a decline of 6.61% [2]. - The overall trading volume in the medical device sector was substantial, with Huakang Clean achieving a transaction amount of 707 million yuan [1]. Group 2: Capital Flow - The medical device sector experienced a net outflow of 1.395 billion yuan from major funds, while retail investors contributed a net inflow of 1.42 billion yuan [2]. - Specific stocks like Huakang Clean had a net inflow of 58.17 million yuan from major funds, while retail investors showed a net outflow of 46.88 million yuan [3]. - The capital flow dynamics indicate a shift in investor sentiment, with retail investors actively participating despite the overall sector decline [2][3].

Investment Rating - The report indicates a positive outlook for the AI+Pharma and AI+Healthcare sectors, suggesting a shift towards data and algorithm-driven drug development and clinical applications [3][6]. Core Insights - The collaboration between NVIDIA and Eli Lilly to establish the first AI+Pharma joint innovation lab signifies a major step in integrating AI into drug R&D, with a planned investment of up to 1 billion USD over five years [3][6]. - Tempus AI's preliminary revenue for 2025 reached approximately 1.27 billion USD, reflecting an 83% year-over-year growth, validating the commercial viability of AI in clinical testing and medical data [3][6]. - The industry is currently experiencing a phase characterized by technological breakthroughs, active funding, and accelerated application of AI in pharmaceuticals and healthcare [3][6]. Summary by Sections AI+Pharma - The establishment of the AI+Pharma lab aims to address key challenges in drug development, combining expertise from both NVIDIA and Eli Lilly [3][6]. - The partnership is expected to elevate AI's role from a mere tool to a core productivity driver in drug R&D, transitioning the industry from experience-driven to data-driven methodologies [3][6]. AI+Healthcare - Tempus AI reported a diagnostic revenue of approximately 955 million USD, up 111% year-over-year, driven by significant growth in oncology and genetic testing [3][6]. - The data and application segment generated about 316 million USD, marking a 31% increase, with data licensing (Insights) growing by 38% [3][6]. Industry Trends - The report highlights a favorable environment for AI in pharmaceuticals, supported by technological advancements, policy backing, and a vibrant investment landscape [3][6]. - The launch of OpenAI's ChatGPT Health and the significant user engagement indicate a growing interest and application of AI technologies in healthcare [3][6]. - Relevant investment targets in AI drug discovery and healthcare applications include companies like XtalPi, Insilico Medicine, and Meinian Onehealth [3][6].

科创医药ETF（588860）成立日期2024年8月8日，最新规模2.06亿。今年以来收益9.96%，同类排名 1057/5531；近一年收益42.75%，同类排名1798/4215；成立以来收益52.78%。 科创医药ETF（588860）基金经理为史宝珖。 截至发稿，史宝珖累计任职时间4年48天，现任基金资产总规模38.16亿元，任职期间最佳基金回报 96.85%， 任职期间最差基金回报-31.39%。 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。 责任编辑：小浪快报 1月16日，华大智造跌5.12%，截至发稿，报68.32元/股，成交2.74亿元，换手率0.95%，总市值284.56亿 元。华大智造股价已经连续3天下跌，区间累计跌幅8.59%。 资料显示，深圳华大智造科技股份有限公司位于广东省深圳市盐田区北山工业区综合楼及11栋2楼，成 立日期2016年4月13日，上市日期2022年9月9日，公司主营业务涉及专注于生命科学与生物技术领域,以 仪器设备、试剂耗材等相 ...

Investment Rating - The report maintains an "Overweight" rating for the medical device industry [5]. Core Insights - The medical device industry in China has a prominent supply chain advantage, with overseas markets expected to maintain rapid growth. The brain-computer interface (BCI) sector is at a critical turning point, likely to see demand release. AI medical applications are gradually becoming operational, poised to reshape the health market [3]. Summary by Relevant Sections Investment Recommendations - For the overseas medical device sector, recommended stocks include: United Imaging Healthcare, Nanwei Medical, Microelectronic Physiology, Guichuang Tongqiao, Yuyue Medical, and New Industry. Stocks to watch include: Jingfeng Medical, MicroPort Scientific, and Chuangli Medical [5]. - In the brain-computer interface sector, recommended stocks are: Lepu Medical, Weisi Medical. Stocks to watch include: Meihao Medical, Xiangyu Medical, Mcland, Xinwei Medical, Aipeng Medical, Chengyitong, Chuangxin Medical, and Botuo Bio [5]. - For the AI + device sector, recommended stocks are: Yuyue Medical, BGI Genomics, KingMed Diagnostics, and United Imaging Healthcare. Stocks to watch include: Dian Diagnostics [5]. Overseas Market Growth - The supply chain advantage of domestic medical devices is significant, with exports expected to grow rapidly. In the first three quarters of 2025, United Imaging Healthcare's overseas revenue increased by 41.97% year-on-year, becoming a crucial growth driver for the company. The company continues to expand its market share in key regions due to superior product performance and localized service capabilities. By December 2025, MicroPort Scientific's global cumulative order volume exceeded 160 units, with core products in endoscopy, orthopedics, and vascular intervention surpassing 230 units in total orders. In 2025, Jingfeng Medical achieved a breakthrough in multiple key global markets, leading to explosive growth in overseas orders [5]. Brain-Computer Interface Market - The brain-computer interface market is at a pivotal turning point, with anticipated demand release. China's "14th Five-Year Plan" explicitly suggests a forward-looking layout for future industries, promoting BCI as a new economic growth point. In December 2025, Elon Musk announced that Neuralink would begin large-scale production of BCI devices in 2026, transitioning to a more streamlined and nearly fully automated surgical process. In January 2026, China's BCI company Strong Brain Technology announced it had completed a new round of financing of approximately 2 billion yuan, setting a record for the second-largest single financing in the field globally, following Neuralink. The funds will be used to accelerate core technology research and development, extreme engineering breakthroughs, and product scaling and mass production [5]. AI Medical Applications - AI medical applications are gradually becoming operational, with the potential to reshape the health market. In June 2025, Ant Group launched the AI Health Manager AQ, which was officially upgraded to "Antifufu" in December 2025. By January 2026, the "Antifufu" app had over 30 million monthly active users, with daily inquiries exceeding 10 million, 55% of which came from third-tier cities and below. In January 2026, Tempus AI reported preliminary revenue of approximately 1.27 billion USD for 2025, representing an 83% year-on-year increase, exceeding initial expectations. OpenAI announced the acquisition of the healthcare tech startup Torch to expand into the healthcare sector, while Google launched the next-generation open-source medical AI model MedGemma1.5 and released the open-source medical speech-to-text model MedASR [5].