创新药概念持续活跃，沪指逼近3400点

Market Overview - On June 9, A-shares saw a collective rise in the three major indices, with the Shanghai Composite Index briefly surpassing 3400 points. The Shanghai Composite Index closed up 0.23% at 3393.26 points, the Shenzhen Component Index rose 0.62% to 10246.65 points, and the ChiNext Index increased by 1.22% to 2064.40 points [1][2]. Economic Indicators - In May 2025, the Consumer Price Index (CPI) decreased by 0.1% year-on-year, with urban prices remaining stable and rural prices declining by 0.4%. Food prices fell by 0.4%, while non-food prices remained unchanged. The core CPI, excluding food and energy, rose by 0.6% year-on-year, an increase of 0.1 percentage points from April [3]. - The Producer Price Index (PPI) fell by 0.4% month-on-month and decreased by 3.3% year-on-year, with the decline widening by 0.6 percentage points compared to April [3]. Trade Performance - In the first five months of this year, China's imports and exports to African countries reached 963.21 billion yuan, a growth of 12.4%, accounting for 5.4% of China's total trade. Exports amounted to 599.57 billion yuan, increasing by 20.2%, while imports were 363.64 billion yuan, up by 1.6% [3]. Sector Performance - The pharmaceutical sector, particularly in weight loss drugs, CRO (Contract Research Organization), innovative drugs, and chemical pharmaceuticals, showed significant gains. Conversely, sectors such as precious metals, railways, banks, and insurance performed poorly [4]. - The innovative drug industry chain is active due to national encouragement for innovation, with expectations for CXO companies to gradually convert orders into revenue, supporting future growth [4]. Company Highlights - Shengnuo Bio: Positioned in a high-demand sector with a first-mover advantage, expected to see rapid growth with new capacity coming online [6]. - Nuotai Bio: A leading domestic player in peptide raw materials, actively expanding production to capitalize on the GLP-1 industry trend [6]. - Huiyu Pharmaceutical: Focused on professional fields with a diverse product pipeline and accelerating overseas market expansion [6]. - Haofan Bio: Holds a leading position in peptide synthesis reagents, with strong downstream demand expected to drive steady growth [7].