Industrial Securities(SH:601377) 智通财经网·2025-08-06 08:38Group 1 - The core viewpoint is that the innovative drug sector remains a sustainable trend, with "innovation + internationalization" as the key direction supported by policies, leading to improved global competitiveness and commercial profitability [1] - The innovative drug industry is expected to see a recovery in demand by 2025, with potential improvements in the consumption medical field and medical devices [1] - The current market sentiment for innovative drugs is on the rise, with significant upside potential remaining compared to historical highs, indicating a shift from "follower" to "leader" in China's innovative drug industry [1] Group 2 - Upcoming industry conferences such as WCLC and ESMO are anticipated to provide valuable data, with expectations for many high-quality domestic innovative drugs to have overseas opportunities [2] - Recent progress in external licensing transactions indicates a positive trend, with several significant deals expected to emerge [2] - Domestic policy adjustments, including changes to the medical insurance directory and commercial insurance policies, are seen as important catalysts for the industry [2] Group 3 - Recommended stocks include BeiGene, which is expected to achieve full profitability by 2025, and Hengrui Medicine, which is entering a rapid growth phase in domestic sales [3] - Innovent Biologics is highlighted for its promising product IBI363, with a target of reaching 20 billion yuan in revenue by 2027 [3] - WuXi AppTec is noted for maintaining rapid growth in orders and increasing its annual performance guidance, while WuXi Biologics is expected to see high growth in ADC projects by 2025 [3]