China Meheco(SH:600056) 智通财经网·2025-10-10 03:15Core Viewpoint - Since September, domestic investors have increased their holdings in pharmaceutical stocks through the Hong Kong Stock Connect, while foreign investment has slightly declined since mid-year. However, the overall trend of increasing investment in innovative drugs remains unchanged [1] Group 1: Investment Trends - Domestic investors are focusing on innovative drug stocks, while foreign investors are also increasing their positions in high-value innovative drug targets and service-related stocks, including CXO companies and "AI + healthcare" concepts [1] - The upcoming ESMO conference in mid to late October is expected to be a catalyst for the industry, with recommendations to focus on companies like CanSino Biologics (09926), Kelun-Biotech (06990), Rongchang Biologics (09995), and Hansoh Pharmaceutical (01276) that are expected to release significant data [1] Group 2: Recommended Sectors - The report suggests a focus on innovative drugs, highlighting companies such as 3SBio (01530) and Eucure Biopharma-B (06996) which have rich short-term catalysts and whose valuations do not yet reflect the value of their core products. Companies like Ascletis Pharma (02096), Hutchison China MediTech (000113), and Legend Biotech are considered significantly undervalued with clear long-term growth logic [1] - In the CXO sector, leading companies benefiting from high downstream demand and marginal recovery in financing, such as WuXi AppTec (02268), are recommended for attention [1]