长城基金梁福睿：继续看好港股创新药

Group 1 - The Hong Kong innovative drug sector has shown remarkable performance this year, with the China Securities Hong Kong Innovative Drug Index (HKD) increasing by 113.88% as of August 26 [1] - The strong performance is attributed to two main reasons: the previous valuation suppression of the pharmaceutical sector and the emergence of positive fundamentals such as product volume growth and profitability for many innovative drug companies [1] - The valuation difference between A-share and Hong Kong innovative drug companies is noted, with A-share innovative drug PS valuation around 4 times and Hong Kong around 3.5 times [1] Group 2 - Long-term trends indicate a significant aging population in China, leading to an increase in chronic and degenerative diseases, which raises the demand for long-term medication [2] - Chronic diseases such as high blood sugar, high blood pressure, and obesity are becoming more prevalent among younger populations, further driving the need for innovative drug development [2] - The innovative drug sector is expected to have substantial long-term investment value due to the persistent demand for treatments for these diseases [2]