港股创新药ETF（513120）成交额连续两日突破百亿元

Core Viewpoint - The Hong Kong Innovative Drug ETF (513120) has shown significant performance, with a year-to-date increase of 69.13%, making it one of the most explosive investment products in the Hong Kong market [1][2]. Group 1: Market Performance - As of June 12, the ETF's trading volume exceeded 100 billion yuan, with an average daily trading volume of 93.5 billion yuan for the week, leading the market in the pharmaceutical ETF category [1]. - The ETF is the largest in the Hong Kong market, with a total size exceeding 11.5 billion yuan, and it is the only ETF tracking the CSI Hong Kong Innovative Drug Index [2]. Group 2: Industry Drivers - The strong performance of the innovative drug sector is attributed to multiple favorable factors, including increased support from healthcare policies, accelerated review and approval processes, and the rapid internationalization of domestic innovative drugs [1]. - The Chinese innovative drug companies have shown impressive results on the international stage, with a record number of Chinese research entries at the ASCO conference, boosting market confidence [1]. Group 3: Valuation and Future Outlook - Despite recent gains, the valuation of the sector remains at historical lows, with the latest price-to-earnings ratio of the CSI Hong Kong Innovative Drug Index at 31.79, below 84% of the levels seen in the past five years [2]. - Analysts predict that 2025 will mark a year of explosive growth for Chinese innovative drugs, with signs of profitability turning for leading companies [2].