港交所持续提升对创新药企的吸引力，跟踪同标的产品费率最低的港股通创新药ETF工银（159217）近一个月资金净流入额居同标的产品第一

Group 1 - The core viewpoint of the news highlights the strong performance and growing popularity of the Hong Kong Stock Connect Innovative Drug ETF (工银159217), which has seen significant trading activity and net inflows since its launch [1][2] - As of May 22, the ETF recorded a trading volume of 4.59 billion yuan and a turnover rate of 12.46%, indicating active trading [1] - The ETF has achieved a new high in scale, reaching 36.74 billion yuan, with an average daily trading volume of 2.12 billion yuan since its listing on April 3 [1] Group 2 - The ETF closely tracks the National Index of Hong Kong Stock Connect Innovative Drugs, which reflects the operational characteristics of listed companies in the innovative drug sector [1] - The price-to-earnings ratio (PE-TTM) of the index is 26.97, placing it in the lowest 3.22% of its historical range over the past decade, indicating a low valuation [1] - The index's constituent stocks are heavily concentrated in the biopharmaceutical and chemical pharmaceutical sectors, which together account for over 90% of the index [1] Group 3 - The management fee and custody fee for the ETF are 0.4% and 0.07%, respectively, making it the lowest among similar products tracking the National Index [2] - The ETF allows for T+0 trading, enhancing liquidity for investors [2] - Recent developments in the Hong Kong market, including the listing of leading innovative drug companies, have attracted investor attention [2] Group 4 - The report from Guangfa Securities emphasizes the importance of focusing on the Hong Kong innovative drug sector, highlighting the global competitive advantages of Chinese innovative drugs [2] - The rise of the NewCo model has addressed challenges such as financing difficulties and high research and development risks for original drug companies [2] - Positive policy signals have emerged in the second half of 2023, including rule optimizations and increased support for innovative drugs, contributing to the growth of leading Hong Kong innovative drug companies [2]