港股创新药概念股早盘走低，相关ETF跌约2%

Group 1 - Hong Kong innovative drug concept stocks experienced a decline in early trading, with Kelun-Botai Biopharmaceuticals falling over 7%, BeiGene and 3SBio dropping over 5%, and CanSino Biologics and Hansoh Pharmaceutical decreasing over 4% [1] - The related ETFs for innovative drugs in Hong Kong also saw a decline of approximately 2% [1] Group 2 - Several brokerages noted that an increasing number of innovative drug companies are transitioning from the "R&D investment phase" to the "commercialization phase," with core product sales revenue steadily growing, and some companies achieving a transition from losses to profitability, providing solid support for stock prices [2] - Institutional investors, such as public funds, are increasing their allocation to high-quality targets, leading to a continuous rise in market recognition [2] - The focus of the innovative drug market has shifted from broad valuation recovery to the ability of companies to deliver on their fundamentals [2]