中国创新药管线全球第一！高弹性港股通创新药ETF（520880）放量上探2.57%，此前连续14日吸金合计6.8亿元

Core Viewpoint - The Hong Kong Stock Connect innovative drug sector is experiencing increased volatility, with significant inflows of capital into the high-elasticity Hong Kong Stock Connect innovative drug ETF (520880) and a notable performance from key constituent stocks [1][3]. Group 1: Market Performance - On September 22, the Hong Kong Stock Connect innovative drug sector opened high and continued to rise, with the ETF (520880) reaching an intraday increase of 2.57% and a trading volume exceeding 1 billion CNY [1]. - As of September 19, the ETF (520880) has attracted nearly 680 million CNY over 14 consecutive days [1]. - The ETF's index has shown a year-to-date increase of 119.75% prior to the recent "purification" adjustment on September 8, leading among similar innovative drug indices [4][5]. Group 2: Key Stocks and Trends - Notable performers among the ETF's constituent stocks include MIRXES-B, Kangnuo Ya-B, and Heng Rui Pharmaceutical, with respective increases of over 6.7%, 6%, and 4.6% [1]. - Conversely, Junshi Biosciences and Sihuan Pharmaceutical have shown negative performance [1]. Group 3: Industry Insights - According to Huachuang Securities, the innovative drug industry is transitioning from a quantity-driven logic to a quality-driven logic, with 2025 expected to be a pivotal year focused on product excellence [3]. - Southwest Securities reported that in the first half of 2025, the revenue for the Hong Kong Stock Connect innovative drug sector is projected to be 194.6 billion CNY, a decrease of 2.0%, while net profit is expected to rise by 1.2% to 25.8 billion CNY [3]. - The innovative drug pipeline in China has reached 3,575 molecules, ranking first globally, with 18 original drugs already launched overseas [2]. Group 4: ETF Characteristics - The Hong Kong Stock Connect innovative drug ETF (520880) is the first ETF tracking the Hang Seng Stock Connect Innovative Drug Select Index, with a fund size exceeding 1.7 billion CNY as of September 12 [5]. - The ETF has been restructured to exclude CXO companies, focusing solely on innovative drug research and development, thereby enhancing its representation of the core strength of domestic innovative drugs [3][4].