A股：创新药概念股，或许是未来穿越牛熊的真神！！

Group 1 - The core idea is that companies with a global market reach, like those in the US, achieve higher valuations compared to local companies that primarily sell domestically [1][3] - Companies that sell products internationally have a significantly larger revenue potential, as they can tap into billions of potential customers across various regions [3] - The article highlights that many Chinese companies are still confined to local markets, facing intense competition and low profit margins, which limits their valuations [3] Group 2 - The pharmaceutical industry, particularly innovative drug companies, is positioned to become a major wealth generator as successful drugs can be sold at high prices globally [5] - Chinese biotech firms are increasingly gaining recognition on the international stage by licensing their innovative drugs to global companies, leading to substantial revenue contracts [5] - Once these companies establish a foothold overseas, their valuation shifts from being seen as local players to global healthcare competitors, attracting significant capital investment [7] Group 3 - The potential for future pharmaceutical giants in A-shares and Hong Kong stocks is high, with expectations that companies exceeding valuations of 100 billion or even 300 billion will emerge from this group of "outbound pioneers" [7] - Investing in innovative drugs carries risks, including research failures and regulatory hurdles, necessitating careful analysis to distinguish between genuinely promising companies and those that may not deliver [7] - The future winners in the market will be those companies that are willing to expand globally and generate revenue from international markets, with innovative drugs being a key avenue for Chinese firms to achieve this [7]