Sou Hu Cai Jing·2025-07-17 06:55Core Insights - The Hong Kong Innovation Drug Index (931787) has shown a strong increase of 5.50% as of July 17, 2025, with significant gains in constituent stocks such as Lepu Biopharma-B (up 20.94%) and CanSino Biologics-B (up 14.50%) [1] - The Hong Kong Innovation Drug ETF (513120) has risen by 4.97%, marking a seven-day consecutive increase, with a trading volume of 9.798 billion HKD and a turnover rate of 67.06% [1] - Over the past year, the Hong Kong Innovation Drug ETF has achieved a net value increase of 109.64%, ranking 1st out of 122 QDII equity funds [2] Market Performance - The Hong Kong Innovation Drug ETF has a current scale of 14.035 billion HKD, making it the largest in the Hong Kong pharmaceutical ETF sector [1] - In the last 22 trading days, there have been net inflows on 12 days, totaling 838 million HKD [1] - The ETF has recorded a maximum monthly return of 23.82% since its inception, with an average monthly return of 7.75% during rising months [2] Index Composition - The index comprises a maximum of 50 listed companies primarily engaged in innovative drug research and development, reflecting the overall performance of the innovative drug sector in the Hong Kong market [2] - The top ten weighted stocks in the index account for 67.94%, with notable companies including Innovent Biologics (01801) and WuXi Biologics (02269) [3] Policy Environment - Recent adjustments to the national medical insurance drug list and commercial health insurance for innovative drugs have established a dual-track payment system, ensuring that innovative drugs are not included in centralized procurement [3] - The regulatory environment is supportive, with the resumption of the fifth set of listing standards for the Sci-Tech Innovation Board and a reduction in clinical trial review periods to 30 days [3] - The combination of favorable policies and significant overseas business development expectations is expected to drive the performance of the innovative drug sector in the coming years [3]