Group 1 - The core viewpoint of the news highlights the significant performance of the innovative drug sector, with the Tianhong Innovative Drug ETF (517380) showing a nearly 20% increase year-to-date as of May 29, 2023 [1] - The Tianhong Innovative Drug ETF, launched in 2021, tracks the "Hang Seng Shanghai-Shenzhen Hong Kong Innovative Drug Selected 50" index, providing comprehensive coverage of the innovative drug industry across A-shares and Hong Kong stocks [1] - On May 29, the National Medical Products Administration approved 11 new drugs, with five being from innovative companies listed on the Sci-Tech Innovation Board, covering various therapeutic areas including oncology and autoimmune diseases [1] Group 2 - The upcoming 2025 ASCO Annual Meeting in Chicago is expected to showcase significant data from domestic innovative drug companies, with 71 original research results from Chinese pharmaceutical companies selected for presentation [2] - The innovative drug sector is anticipated to gain increased attention and positive market sentiment, with institutional holdings currently at low levels and the sector's valuation significantly below historical averages [2] - The total amount of outbound transactions for innovative drugs has reached $45.5 billion since the beginning of 2025, indicating a strong trend towards internationalization and potential for future growth [3] Group 3 - The Chinese innovative drug industry has transitioned from imitation to rapid following and now to original innovation, marking a significant evolution in its development [3] - Most domestic innovative drugs currently in the U.S. are in clinical stages, with future milestones expected to validate the growth and internationalization of Chinese innovative drugs [3]