医药基金第一批二季报出炉！亚军基规模暴增30倍年内“翻倍”，也有基金重仓换血仍跑输基准，基金经理后市策略分歧浮现..

Group 1: Market Performance - The Chinese innovative drug sector experienced a rare strong surge in the first half of 2025, with the Hang Seng Innovative Drug Index up 80% year-to-date as of July 16, 2025, and the Wind Innovative Drug Index rising nearly 40% [1] - The performance of various medical funds, including the top-performing Longcheng Medical Industry Selected Fund, provides key insights into the innovative drug market trends [1] Group 2: Fund Performance - Longcheng Medical Industry Selected Fund saw an impressive quarterly performance with a 35.86% increase, significantly outperforming its benchmark by over 30 percentage points, and its total assets surged from 0.36 million to 11.08 million, marking a nearly 30-fold increase [2] - As of July 16, 2025, the fund's year-to-date net asset value growth reached 102.52%, making it one of the "doubling funds" in the market [2] Group 3: Investment Strategy - Fund manager Liang Furui adopted an aggressive strategy, increasing holdings in companies like Sanofi, Innovent Biologics, and CSPC Pharmaceutical, with some stocks doubling in value, driving the fund's net asset value increase [4] - The Longcheng Medical Industry Selected Fund plans to focus on innovative drugs in the third quarter, emphasizing clinical data releases, overseas licensing, and domestic sales growth [11] Group 4: Other Fund Insights - Other funds in the Longcheng system also showed steady growth, with Longcheng Health Mixed Fund and Longcheng Medical Technology Mixed Fund reporting asset increases of 7.24% and 17.37%, respectively [7] - In contrast, Yongying Medical Health Fund faced challenges, with a complete turnover of its top ten holdings and a negative net asset growth rate over the past three months, despite a 57.82% increase in fund size [8][9] Group 5: Future Outlook - Most fund managers remain optimistic about the innovative drug sector for the second half of the year, with a focus on the strong potential of domestic innovative drug companies based on clinical data and ongoing product commercialization [11][12] - Yongying Medical Health Fund's manager highlighted the importance of identifying emerging opportunities within the innovative drug sector, aiming for higher allocation in high-odds opportunities [12]