Mei Ri Jing Ji Xin Wen·2025-10-22 02:35Group 1 - The core viewpoint of the news is that the strategic collaboration between Innovent Biologics and Takeda marks a significant milestone in the fourth quarter, potentially boosting the business development (BD) market for innovative drugs [1] - The fourth quarter is expected to be a peak period for BD transactions, accounting for approximately 40% of annual trading volume, indicating strong resilience in the sector [1] - The recent ESMO conference highlighted the value of Chinese innovative drugs, which may support the recovery dynamics in the BD market as expectations are digested [1] Group 2 - The ETF focuses on innovative drug companies listed on the STAR Market, tracking a representative index of 30 high-quality firms, primarily in the biotech sector [2] - Since the "924 market" rally, the STAR Market innovative drug index has outperformed the Hang Seng Hong Kong Stock Connect innovative drug index, with respective gains of 117.04% and 109.62% during the rebound period from September 24, 2024, to September 30, 2025 [2] - The STAR Market innovative drug index may provide better exposure to the sector's volatility when market risk appetite increases [2]