集体“霸榜” 多只港股创新药主题ETF今年以来涨超50%

Core Viewpoint - The innovative drug sector, particularly in the Hong Kong stock market, has shown remarkable performance this year, with several ETFs in this category rising over 50% [1][2]. Group 1: Performance of Innovative Drug ETFs - The Hong Kong innovative drug ETFs have dominated the performance rankings, with the Hong Kong Stock Connect innovative drug ETF (159570) rising by 51.30% year-to-date, leading the entire market [1]. - Other ETFs, such as the Hang Seng Innovative Drug ETF (520500) and the Hong Kong Innovative Drug ETF (159567), have also seen gains exceeding 50% this year [1]. Group 2: Factors Driving the Innovative Drug Market - The strong performance of the innovative drug sector is attributed to several factors, including recent approvals of over ten innovative drugs from eight companies and positive clinical data from multiple firms [2]. - The sector's recovery is supported by the profitability turnaround of leading innovative drug companies in the last quarter of the previous year and significant breakthroughs in overseas licensing amounts in the first quarter of this year [2]. - There has been a substantial inflow of capital, with over 660 billion HKD flowing into the market, alongside the sector being in a valuation trough after years of adjustment [2]. Group 3: Market Environment and Future Outlook - The Hong Kong stock market has attracted innovative biotech companies due to its allowance for unprofitable firms to list since 2018, creating a unique environment for innovative drug firms [2][3]. - The Chinese innovative drug sector is transitioning from "catching up" to "leading," with significant improvements in R&D capabilities and recognition from large overseas pharmaceutical companies [3]. - The market is expected to continue its upward trajectory, with confidence in the sector's competitiveness and the successful IPOs of large innovative drug companies in Hong Kong [3][4]. Group 4: Investment Opportunities - The Hong Kong market is seen as a core area for investing in innovative drugs, particularly in cutting-edge fields like ADC (Antibody-Drug Conjugates) and gene editing [4]. - The recovery of the domestic economy and favorable policies for innovative drug reimbursement are expected to create valuation opportunities for companies in the sector [4].