Zelgen(SH:688266) Sou Hu Cai Jing·2025-12-04 05:47Core Viewpoint - The A-share market experienced fluctuations, but the innovative drug sector showed resilience with significant inflows into the "20CM New Species" innovative drug ETF, indicating strong investor interest in this segment [1][5]. Group 1: Market Performance - As of 10:58 on December 4, the "20CM New Species" innovative drug ETF (589120) rose over 1.7%, marking a strong rebound after three consecutive days of decline [1]. - The innovative drug ETF attracted over 19 million yuan in capital over three days leading up to December 3 [1]. Group 2: Component Stocks Performance - Most component stocks of the innovative drug ETF saw gains, with notable increases including Olin Biologicals up over 8%, Rongchang Bio up over 4%, and Zai Lab up over 3% [3]. - The top ten component stocks of the ETF include U-Z**** with a 2.16% increase and Bai Li Da Heng with a 1.94% increase, reflecting a generally positive trend among leading companies [4]. Group 3: Company Developments - Olin Biologicals announced its application for a Hong Kong listing, projecting a revenue of 305 million yuan for the first half of 2025, a year-on-year increase of approximately 35% [5]. - Zai Lab disclosed plans to issue H-shares and has received orphan drug designation from the FDA for its product ZG006, aimed at treating neuroendocrine cancer [5]. Group 4: Industry Outlook - The innovative drug sector is expected to maintain momentum, with a focus on "data validation" and "value reassessment" as key investment themes [6]. - China's innovative drug capabilities are gaining global recognition, with a significant increase in the number and value of license-outs for innovative drugs [7]. - The number of clinical trials for innovative drugs in China has risen from 1,473 in 2020 to 2,539 in 2024, indicating a compound annual growth rate of over 15% [9].