Core Insights - The trend of Chinese innovative drugs going global is a long-term development, with limited impact from external environmental changes [1] - In the first half of 2025, there were 72 License-out transactions from China, exceeding half of the total transactions in 2024, with a total transaction value 16% higher than that of 2024 [1] - The number of significant business development (BD) deals from listed companies has decreased, and NewCo format BDs have not met market expectations [1] Industry Performance - The China Science and Technology Innovation Drug ETF (GTJA, 589720) focuses on innovative drug companies on the Sci-Tech Innovation Board, tracking an index of 30 representative high-quality companies [1] - Since the "924 market" rally last year, the Sci-Tech Innovation Drug Index has outperformed the Hang Seng Hong Kong Stock Connect Innovation Drug Index [1] - During the market rebound from September 24, 2024, to October 10, 2025, the Sci-Tech Innovation Drug Index and the Hang Seng Hong Kong Stock Connect Innovation Drug Index increased by 103.5% and 100.5% respectively [1]
20cm速递丨科创创新药ETF国泰（589720）近5日净流入超1.3亿元，跟踪指数去年“924行情”以来跑赢恒生港股通创新药指数
Mei Ri Jing Ji Xin Wen·2025-10-13 02:42