行业ETF风向标丨国产创新药闪耀ASCO大会，易方达基金旗下恒生创新药ETF（159316）等产品助力布局前沿创新药企

Core Insights - The 2025 American Society of Clinical Oncology (ASCO) annual meeting in Chicago showcased a record 73 oral reports on innovative drugs from China, highlighting the rapid development of domestic innovative pharmaceuticals [1] - The Hong Kong Stock Connect medical ETF (513200) has seen a year-to-date increase of 42.23%, while the Hang Seng Innovative Drug ETF (159316) has surged by 52.19%, indicating strong market performance in the innovative drug sector [1] - The Chinese innovative drug industry is entering a new phase of profitability, with leading biotech companies beginning to expand internationally, suggesting a favorable investment outlook [2] Investment Landscape - The innovative drug sector is identified as a core investment theme within the pharmaceutical and biotechnology industry, characterized by high certainty and leadership potential [2] - E Fund's medical industry index products cover A-shares, Hong Kong stocks, and U.S. stocks, with a total scale of nearly 27 billion yuan across six medical-related ETFs, making it a leader in the industry [3] - The Hang Seng Innovative Drug ETF (159316) tracks the Hang Seng Hong Kong Stock Connect Innovative Drug Index, which includes leading companies in the innovative drug field, with significant exposure to biotechnology and chemical pharmaceuticals [4] Key Holdings - The top holdings in the Hang Seng Innovative Drug Index include Innovent Biologics, CanSino Biologics, and WuXi Biologics, each with a weight exceeding 8% [5] - The index's price-to-earnings ratio stands at 22.96, indicating a higher safety margin compared to historical averages [6] - The China Securities Hong Kong Stock Connect Medical and Health Comprehensive Index includes 50 liquid and large-cap healthcare companies, reflecting the overall performance of the sector [6][8]