Group 1 - Pharmaceutical stocks have been experiencing a continuous decline, with notable drops in companies such as Viatris (01873) down 7.53% to HKD 2.58, and Singlomics (01672) down 7.09% to HKD 9.17 [1] - Huaxin Securities indicates that the trend of going global will continue into Q3 2025, but there are fewer significant business developments (BD) from listed companies, and NewCo-style BDs have not met market expectations [1] - The escalation of Sino-US trade conflicts may raise concerns about future decoupling risks, but the shift of global innovative R&D towards more efficient Chinese solutions is an unstoppable trend [1] Group 2 - Cinda Securities believes that Chinese innovative pharmaceutical companies are gaining global competitiveness in various niche markets, and while there may be short-term policy impacts, the long-term industry trend remains unchanged [2] - The innovative drug sector is expected to be a key focus in the next 2-3 years, despite potential short-term pullbacks [2] - The CXO sector is currently in a recovery phase, with continuous growth in performance expected to restore market confidence, and the recent iterations of the Biodefense Act have had minimal impact on leading companies [2]
医药股连日走低 短期外部环境变化扰动 机构仍看好长期产业发展趋势