Ge Long Hui·2025-11-13 02:09Group 1 - The Hong Kong innovative drug sector has seen a consecutive rise for two days, with BeiGene increasing by 7%, reaching its highest level since November 2021, and other companies like Innovent Biologics and 3SBio also showing significant gains [1] - BeiGene reported Q3 revenue of 10.077 billion yuan, a year-on-year increase of 41.1%, and a net profit attributable to shareholders of 689 million yuan, marking a turnaround from losses [1] - The Southbound Innovative Drug ETF (159297) has recorded a net inflow of 1.053 billion yuan since its launch on September 22, with a growth rate of 285.91% in shares, indicating strong investor interest [1] Group 2 - Guotai Junan Securities highlighted that the full-chain encouragement of innovation policies will further improve medical insurance payments, and the commercial insurance innovative drug catalog is about to be implemented, making innovative products the strongest area in the pharmaceutical sector [2] - In the context of the patent cliff for major products, the business development (BD) transactions of multinational corporations (MNCs) are active, with China becoming the second-largest source of projects for global top 20 MNCs, and BD is expected to reach new highs by 2026 [2]