Ge Long Hui A P P·2025-07-29 02:43Group 1: ETF Performance - The Hong Kong Innovation Drug ETFs have seen significant growth, with several funds doubling in value this year, including 汇添富港股通创新药ETF and 华泰柏瑞恒生创新药ETF, both exceeding 100% increase [1][3] - Other medical ETFs, such as 富国港股通医疗ETF, have also performed well, with a year-to-date increase of 97% [1][3] - The top-performing ETFs in the year include 港股通创新药ETF with a 105.83% increase and 恒生创新药ETF with a 104.87% increase [3] Group 2: Industry Developments - 恒瑞医药 has entered into an agreement with GSK, granting exclusive global rights for the HRS-9821 project and up to 11 additional projects, with an upfront payment of $500 million and potential milestone payments totaling approximately $12 billion [4] - 药明康德 reported a significant increase in net profit, doubling year-on-year, and has raised its full-year sales forecast, indicating strong performance in the sector [5] - 泰格医药 has completed the acquisition of Japanese CRO company Micron, aiming to leverage Micron's market presence to expand its business in Japan and the Asia-Pacific region [5] Group 3: Fund Holdings and Market Trends - As of Q2 2025, the active pharmaceutical fund size reached 191.6 billion yuan, reflecting a 3.5 billion yuan increase from Q1 2025, while passive pharmaceutical funds also hit a record high of 143.4 billion yuan [6] - The active pharmaceutical theme funds have a significant allocation to innovative drugs, with 41% of their holdings, indicating a strong focus on this sector [6] - The pharmaceutical industry holds a 10.2% share in all funds, showing an increase and suggesting potential for further investment in the sector [6]