Sou Hu Cai Jing·2025-07-23 03:52Group 1 - The core viewpoint of the news highlights the strong performance of the Hang Seng Biotechnology ETF (513280), which has seen a continuous inflow of funds and is the only ETF in its index to achieve net inflow this year [1][8] - WuXi AppTec announced a projected revenue growth of over 60% and an adjusted net profit growth of over 67% for the first half of 2025, driven by strong downstream demand for antibody-drug conjugates and a solid market position [3][5] - The performance of the underlying stocks in the Hang Seng Biotechnology ETF is mixed, with notable gains in the CRO sector, including WuXi AppTec rising over 10% and WuXi Biologics increasing nearly 3% [3][4] Group 2 - Zhongtai Securities indicates that the CRO and CDMO sectors have exceeded expectations in their mid-year performance, suggesting a recovery in demand and potential for profit and valuation increases [5][6] - The report emphasizes the importance of focusing on the recovery of the CRO and CDMO sectors, with signs of improving orders and a gradual recovery in the investment environment [6][7] - The innovation and recovery themes are highlighted as key investment lines, with a focus on innovative drugs and medical devices, as well as the recovery of the CXO sector [7][8]