生物医药ETF（512290）近20日资金净流入超1.3亿元，中国生物医药投融资金额或正触底回升

Group 1 - The core viewpoint of the article highlights that since 2025, the valuation reshaping of innovative drugs in the secondary market has widened the A/H listing channels for pharmaceutical companies, facilitating the exit channels for primary biopharmaceutical investments and financing, leading to a positive cycle in China's biopharmaceutical investment ecosystem [1] - In Q3 2025, the investment and financing amount in China's biopharmaceutical sector reached $1.76 billion, marking a new high since Q4 2022, while in November 2025, the amount was $420 million, indicating a stable performance [1] - The biopharmaceutical ETF (512290) tracks the CS Biomedicine Index (930726), which selects listed companies involved in biotechnology, pharmaceuticals, and medical devices from the Shanghai and Shenzhen markets to reflect the overall performance of biopharmaceutical-related securities [1] Group 2 - The CS Biomedicine Index focuses on innovation and development within the biopharmaceutical industry, with constituent stocks primarily consisting of companies that possess strong competitiveness in research, production, and sales, thereby showcasing the market dynamics and development trends of China's biopharmaceutical industry [1]