创新药板块再度飙升，恒生创新药ETF(159316)大涨超3%，创新药或将逐步进入兑现期

Core Insights - The Hang Seng Innovation Drug ETF (159316) has seen a 3.01% increase as of July 3, 2025, with a trading volume of 3.06 billion yuan, indicating active market participation [1] - The latest scale of the ETF reached 4.29 billion yuan with 339 million shares, both marking new highs since its inception [1] - Recent net inflow into the ETF was 17.87 million yuan, with a total of 77.81 million yuan over the last five trading days, reflecting strong investor interest [1] Industry Trends - The proportion of new drugs listed in the national medical insurance directory has increased from 32% in 2019 to 98% in 2024, indicating a significant shift towards innovative drugs [1] - The number of approved Class 1 innovative drugs in China has shown a marked increase, with 48 approvals in 2024, over five times the number in 2018, and nearly 40 approvals in the first half of this year alone [1] - Guolian Minsheng Securities anticipates that the innovative drug sector will gradually enter a realization phase, with 2025 expected to be a pivotal year for domestic innovative drug companies transitioning from generic to innovative drugs [1] ETF Characteristics - The Hang Seng Innovation Drug ETF closely tracks the Hang Seng Innovation Drug Index, which reflects the performance of Hong Kong-listed companies involved in the research, development, and production of innovative drugs [2] - It is currently the only ETF product tracking the Hang Seng Innovation Drug Index, offering high elasticity and scarcity, thus providing investors with a unique opportunity to capitalize on the current investment climate in Hong Kong's innovative drug sector [2]