Group 1 - The core viewpoint of the news is the performance and holdings of the Huatai-PineBridge Medical Active Growth One-Year Holding Mixed Fund A, which has shown significant growth in various time frames [1] - As of June 30, 2025, the fund's latest net value is 0.8101 yuan, reflecting a growth of 4.14% [1] - The fund has achieved a one-month return of 21.65%, a six-month return of 64.72%, and a year-to-date return of 63.33%, with respective rankings of 296 out of 4764, 63 out of 4579, and 72 out of 4542 in its category [1] Group 2 - The top ten stock holdings of the fund account for a total of 61.79%, with significant positions in companies such as Sanofi (10.07%), Innovent Biologics (8.94%), and Kelun-Biotech (8.71%) [1] - The fund was established on August 21, 2020, and as of June 30, 2025, it has a total scale of 1.922 billion yuan [1] - The fund manager is Zheng Lei, who has extensive experience in the medical and healthcare investment sector [2]

Investment Rating - The report maintains a positive outlook on innovative drugs and the industry chain, recommending continuous attention to this sector [1][5][24]. Core Viewpoints - The report highlights the sustained high prosperity of innovative drugs, with a focus on companies likely to see a revaluation, such as Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, and Huadong Medicine. It also emphasizes Biopharma/Biotech companies with innovative pipelines entering a growth phase, including PATEO, Innovent Biologics, BeiGene, and others [1][5][24]. - The A-share pharmaceutical sector outperformed the market in the third week of July 2025, with a 4.0% increase compared to a 0.7% rise in the Shanghai Composite Index. The report notes that the premium of the pharmaceutical sector relative to all A-shares is currently at a normal level of 86.8% [7][25][16]. - The Hong Kong pharmaceutical sector showed outstanding performance, with the Hang Seng Healthcare index rising by 12.0% and the Hong Kong Biotechnology index increasing by 13.6% during the same period [21][25]. Summary by Sections 1. Continuous Focus on Innovative Drugs and Industry Chain - The report emphasizes the ongoing high demand for innovative drugs and recommends companies such as Heng Rui Medicine, Hansoh Pharmaceutical, and others for potential investment [1][5][24]. 2. Performance of A-Shares Pharmaceutical Sector - In the third week of July 2025, the A-share pharmaceutical sector led with a 4.0% increase, outperforming the overall market. Notable sub-sectors included chemical raw materials and chemical preparations, with gains of 7.0% and 6.8% respectively [7][11][25]. 3. Performance of Hong Kong and U.S. Pharmaceutical Sectors - The Hong Kong pharmaceutical sector performed exceptionally well, with significant gains in the Hang Seng Healthcare and Biotechnology indices. In contrast, the U.S. pharmaceutical sector underperformed, with a decline of 2.5% in the S&P 500 Healthcare Select Sector [21][25].

Group 1 - The core point of the article highlights the performance and holdings of the ICBC Frontier Medical Stock A fund, which has a recent net value of 3.3810 yuan, reflecting a decline of 1.11% [1] - The fund has achieved a return of 12.70% over the past month, ranking 117 out of 717 in its category; a return of 29.84% over the past six months, ranking 54 out of 704; and a year-to-date return of 28.51%, ranking 62 out of 702 [1] - The top ten holdings of the fund account for a total of 59.44%, with significant positions in companies such as Heng Rui Pharmaceutical (9.51%), Kelun Pharmaceutical (9.16%), and Xin Li Tai (6.70%) [1] Group 2 - The ICBC Frontier Medical Stock A fund was established on February 3, 2016, and as of June 30, 2025, it has a total scale of 9.33 billion yuan, managed by fund manager Zhao Bei [1] - Zhao Bei holds a master's degree and has extensive experience in the investment management field, having worked in various roles since joining ICBC Credit Suisse in 2010 [2]

金融界2025年7月7日消息，汇添富医疗服务灵活配置混合A(001417) 最新净值1.7320元，下跌2.26%。该 基金近1个月收益率0.35%，同类排名1209|2349；近6个月收益率49.18%，同类排名3|2317；今年来收益 率43.85%，同类排名4|2315。 来源：金融界 汇添富医疗服务灵活配置混合A股票持仓前十占比合计64.17%，分别为：恒瑞医药（10.23%）、科伦药 业（9.09%）、百利天恒（8.94%）、海思科（8.27%）、信立泰（6.66%）、泽璟制药-U（6.10%）、新 诺威（4.69%）、荣昌生物（3.49%）、诺诚健华-U（3.35%）、微电生理（3.35%）。 公开资料显示，汇添富医疗服务灵活配置混合A基金成立于2015年6月18日，截至2025年3月31日，汇添 富医疗服务灵活配置混合A规模44.08亿元，基金经理为张韡。 简历显示：张韡女士:中国。康奈尔大学生物医学硕士,曾任东方证券医药助理研究员,汇添富基金医药研 究员、高级医药研究员及医药行业研究组组长。2021年3月25日至今任汇添富健康生活一年持有期混合 型证券投资基金的基金经理。2021年9月29日至 ...

Core Insights - The article discusses recent developments in the nutrition and health industry, highlighting regulatory changes, new product approvals, and market trends that could impact investment opportunities [2][3][4][5][6]. Regulatory Developments - The State Administration for Market Regulation issued a guideline clarifying the definition of commercial advertising under the Advertising Law, addressing ongoing disputes in advertising enforcement [2]. - The National Health Commission approved D-alloheptulose and four other substances as new food raw materials, indicating a push for innovation in the nutrition sector [3]. - The market regulator released multiple responses to proposals regarding health food regulations, signaling a focus on traditional Chinese medicine formulations as a potential growth area [4]. Market Trends and Investment Opportunities - Yangtuo Technology Inc. submitted an IPO application to the Hong Kong Stock Exchange, aiming to raise funds for market expansion and supply chain optimization, reflecting growing investor interest in the nutrition and health sector [5]. - A report on 68 nutrition and health companies showed an average market value increase of 20% in the first half of the year, driven by rising consumer health awareness and demand for nutritional products [6]. Company Performance - New Hope Liuhe (002001) projected a net profit of 3.3 billion to 3.75 billion yuan for the first half of 2025, representing a year-on-year growth of 50% to 70% [12]. - Brother Technology (002562) expects a net profit of 60 million to 75 million yuan for the same period, marking an increase of 325% to 431% compared to the previous year [13]. New Product Launches - Guangji Pharmaceutical (000952) received a notice of administrative penalty for information disclosure violations, indicating regulatory scrutiny in the sector [14]. - TCM brand Tongrentang launched its first OTC glucosamine product, expanding its product line in the bone and joint health category [14].

Financial Performance - Whirlpool expects a net profit of approximately 205 million yuan for the first half of 2025, an increase of about 174 million yuan or approximately 559% year-on-year [2] - Chipmotion Technology anticipates a net profit between 138 million to 169 million yuan for the first half of 2025, representing a year-on-year growth of approximately 144.46% to 199.37% [2] Mergers and Acquisitions - China Shipbuilding's absorption merger with China Shipbuilding Industry Corporation has been approved by the Shanghai Stock Exchange, pending further regulatory approvals [3] - Guotou Zhonglu plans to acquire 100% of China Electronic Engineering Design Institute through a share issuance, which constitutes a major asset restructuring [4] Shareholder Actions - Aotewei's actual controllers plan to transfer 4.99% of the company's shares, totaling 15.75 million shares, due to personal funding needs [5] - Yaguang Technology's chairman has been placed under detention, but the company's operations remain normal [5] Industry Developments - Ningbo Port expects a 9.8% year-on-year increase in container throughput for the first half of 2025 [8] - Three Trees anticipates a net profit growth of 80.94% to 119.04% for the first half of 2025 [8] - Zhuhai Group expects a net profit increase of 50.97% to 75.23% for the first half of 2025 [8] Project Wins - Sanxing Medical's subsidiary has pre-qualified for a 306 million yuan project with Southern Power Grid [8] - Hopu Co., Ltd. has jointly won a 449 million yuan shared energy storage demonstration project [8] - Hongsheng Huayuan's subsidiary has pre-qualified for an 1.127 billion yuan project with Southern Power Grid [8]

Core Viewpoint - The company XinNuoWei's subsidiary, JuShi Bio, has received a government subsidy of 60 million yuan, which is over 10% of the net profit attributable to shareholders for the most recent audited fiscal year [1] Group 1: Financial Impact - The government subsidy of 60 million yuan is related to revenue and is associated with the company's daily operational activities [1] - This subsidy is expected to increase the company's total profit for the fiscal year 2025 [1] Group 2: Sustainability of the Subsidy - The government subsidy does not possess sustainability, indicating that it may not be a recurring source of income for the company [1]

证券代码：300765 证券简称：新诺威 公告编号：2025-056 石药创新制药股份有限公司 关于控股子公司获得政府补助的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 （二）补助对公司的影响 巨石生物为公司持股 51%的控股子公司，上述政府补助预计将会增加公司 2025 年度利润总额。具体影响金额及相关会计处理需以年度审计机构审计结果 为准，敬请广大投资者注意投资风险。 三、备查文件 收款凭证。 特此公告。 石药创新制药股份有限公司 一、获取补助的基本情况 石药创新制药股份有限公司（以下简称"公司"）的控股子公司石药集团巨石 生物制药有限公司（以下简称"巨石生物"）于近日收到一笔政府补助资金，金额 为人民币 6,000 万元，占最近一个会计年度经审计的归属于上市公司股东的净利 润 10%以上且绝对金额超过 100.00 万元。截至本公告披露日，上述补助资金已 到账。该政府补助系与收益相关的政府补助，与日常的生产经营活动相关，但不 具有可持续性。 二、补助的类型及其对上市公司的影响 （一）补助类型 根据《企业会计准则第 16 号—政府补助》规定，与资产 ...

Group 1 - The vitamin sector has seen a rise of 2.34%, ranking 9th among concept sectors, with 62 stocks increasing in value [1][2] - Notable gainers include Nonnawell, Fengyuan Pharmaceutical, and Nengte Technology, which reached the daily limit, while Minsheng Health, Zhenhua Co., and Erkang Pharmaceutical also showed significant increases of 8.75%, 7.15%, and 6.69% respectively [1][2] - The sector experienced a net inflow of 5.92 billion yuan from main funds, with 43 stocks receiving net inflows, and 6 stocks exceeding 50 million yuan in net inflow [2][3] Group 2 - The top stocks by net inflow include Nonnawell with 925.69 million yuan, followed by Fengyuan Pharmaceutical with 884.21 million yuan, and Zhongsheng Pharmaceutical with 728.46 million yuan [2][3] - The net inflow ratios for Fengyuan Pharmaceutical, Nengte Technology, and Huate Dain are 24.78%, 19.08%, and 14.28% respectively, indicating strong investor interest [3] - Stocks such as Dongbao Biological, Huate Dain, and Huaheng Biological experienced declines of 3.71%, 2.04%, and 0.91% respectively, highlighting some volatility within the sector [1][5]

Core Viewpoint - The innovative pharmaceutical sector is experiencing a resurgence, driven by improved fundamentals, supportive policies, and increased market interest, particularly in the A-share and Hong Kong markets [1][3][12]. Group 1: Market Performance - The pharmaceutical sector has shown strong performance this year, with a notable rebound starting from April 9, despite recent pullbacks [1]. - The innovative drug segment in A-shares and Hong Kong stocks has continued to strengthen, indicating a recovery after four years of adjustment [1][3]. - The total amount of business development (BD) transactions for innovative drugs is projected to rise significantly, from $8.4 billion in 2020 to $51.9 billion in 2024 [4]. Group 2: Policy and Industry Trends - The policy environment has shifted from cost control to encouraging innovation, providing strong support for the development of innovative drugs [3]. - The number and quality of innovative drug products in China have significantly improved, leading to increased interest from foreign pharmaceutical companies [3][5]. - The penetration rate of innovative drugs in China is expected to rise, with current levels at around 20%, compared to 70%-80% in the U.S. [5]. Group 3: Investment Opportunities - Fund managers are optimistic about the future of innovative drugs, emphasizing the importance of technology and growth attributes in the sector [6]. - Investment strategies include focusing on high-quality companies, innovative drug leaders, and traditional pharmaceutical companies transitioning to innovative drugs [7][8][9]. - Investors can consider actively managed pharmaceutical funds or industry-themed ETFs to gain exposure to the innovative drug market [10][12]. Group 4: Fund Performance - Several funds managed by 工银瑞信 have demonstrated strong performance, ranking highly in their respective categories over various time frames [13][15]. - The 工银港股通创新药ETF has seen significant inflows, reflecting market preference for innovative drug companies [11].