政策助力+估值历史低位，港股创新药ETF（513120）规模首破140亿元大关

Group 1 - The core viewpoint of the news highlights the significant inflow of funds into the Hong Kong innovative drug sector, particularly through the largest innovative drug ETF (513120), which has reached a record size of 140.98 billion CNY, with a net inflow of 29.28 billion CNY over the past month [1][2] - The ETF has shown strong liquidity, with an average daily trading volume of 76 billion CNY over the past month, benefiting from the T+0 trading mechanism, which facilitates efficient capital allocation [1] - Recent supportive policies from the National Healthcare Security Administration and the National Health Commission, including 16 measures to support the high-quality development of innovative drugs, are seen as catalysts for investment in the sector [1][2] Group 2 - The performance of the Hong Kong innovative drug ETF has been impressive, with a return rate of 97.69% over the past year, ranking it among the top ten non-currency ETFs in the market [2] - The index tracked by the ETF has a current price-to-earnings (P/E) ratio of 35.65, which is at the 18.8% percentile over the past five years, indicating strong valuation attractiveness [2] - The top ten weighted stocks in the index include major global innovative drug companies, capturing significant licensing revenue from international markets, with a 222% year-on-year increase in external licensing transactions expected by Q1 2025 [2] Group 3 - Market participants note that the Hong Kong innovative drug sector possesses characteristics of "scarcity and high elasticity," combined with policy benefits and low valuations, making it a compelling long-term investment opportunity [3] - The Hong Kong innovative drug ETF (513120) and its associated funds are effective tools for investors looking to gain exposure to the innovative drug industry [3]