恒生创新药ETF(159316)强势拉升涨3.33%，最新单日净流入超3亿元，中国创新药企展现全球竞争力

Core Insights - The Hang Seng Hong Kong Stock Connect Innovative Drug Index (HSSCID) has seen a strong increase of 2.74%, while the Hang Seng Innovative Drug ETF (159316) rose by 3.33%, with a turnover of 8.69% and a transaction volume of 346 million yuan [1] - As of October 30, the latest scale of the Hang Seng Innovative Drug ETF reached 3.902 billion yuan, with the latest share count at 287.8 million, both hitting new highs since inception [1] - The net inflow of funds into the Hang Seng Innovative Drug ETF was 304 million yuan, with a total of 437 million yuan net inflow over the last five trading days [1] Industry Analysis - CITIC Securities analysis indicates that small nucleic acid drugs are expected to become the third major category of drugs following small molecules and antibody drugs, due to their ability to target traditionally non-druggable targets and long-lasting effects [1] - The breakthrough of GalNAc technology in 2014 has established a successful paradigm for liver-targeted delivery, significantly activating industry development [1] - The global small nucleic acid drug industry is currently achieving commercial profitability and breakthroughs in various aspects, with Chinese companies keeping pace with global industry developments and demonstrating strong global competitiveness [1][2] - Everbright Securities notes that the Federal Reserve has entered a rate-cutting cycle, which is favorable for innovative assets in the pharmaceutical sector, as historically, innovative assets have gained better valuation premiums during such periods [2] - The Hang Seng Innovative Drug ETF closely tracks the Hang Seng Innovative Drug Index, which reflects the performance of Hong Kong-listed companies involved in innovative drug research, development, and production [2] - The Hang Seng Hong Kong Stock Connect Innovative Drug Index (HSSCIHKI) is the only "100% purity" innovative drug index in the market, focusing on companies holding core patents and directly participating in innovative drug R&D and commercialization [2]