久违爆发！港股通创新药ETF（520880）急速飙升4%！国家药监局：2025年我国创新药对外授权超1300亿美元

Core Viewpoint - The Hong Kong Stock Connect innovative drug sector experienced a significant rally, with leading stocks such as BeiGene and Innovent Biologics rising nearly 5% and over 5% respectively, indicating strong market interest in innovative pharmaceuticals [1][7]. Group 1: Market Performance - The Hong Kong Stock Connect innovative drug ETF (520880) opened with a continuous rise, peaking at over 4% increase, with a trading volume of 258 million yuan, surpassing the previous trading day's total [1][8]. - Major stocks in the innovative drug sector, including BeiGene, Innovent Biologics, and CSPC Pharmaceutical Group, saw increases of nearly 5% and over 3% respectively, reflecting a positive market sentiment [1][7]. Group 2: Regulatory and Market Developments - The National Medical Products Administration reported that 76 innovative drugs were approved for market in China in 2025, significantly exceeding the 48 approved in 2024, marking a historical high [1][10]. - The total value of authorized transactions for innovative drugs in China exceeded $130 billion in 2025, with over 150 transactions, also setting a new record [1][10]. Group 3: Investment Insights - Analysts from Zhongyou Securities suggest that the maturity of clinical data will be a key driver for the innovative drug market in 2026, with business development (BD) expected to enhance the competitiveness of domestic new drugs [3][10]. - The current period is viewed as an optimal configuration window for the Hong Kong Stock Connect innovative drug sector, following a three-month adjustment that began in September 2025 [3][10]. - The Hong Kong Stock Connect innovative drug ETF (520880) and its associated funds track the Hang Seng Hong Kong Stock Connect Innovative Drug Select Index, which boasts significant advantages such as comprehensive coverage of innovative drug companies and a high concentration of leading firms [3][10]. Group 4: ETF Composition - The top ten holdings in the Hong Kong Stock Connect innovative drug ETF account for over 72% of the total weight, highlighting the dominance of leading companies in the sector [4][11]. - Key constituents include BeiGene (11.51% weight), Innovent Biologics (10.19%), and China Biologic Products (9.47%), among others, indicating a strong representation of major players in the innovative drug market [4][11]. Group 5: Alternative Investment Options - For investors seeking exposure to innovative drugs while mitigating volatility, the unique A-share drug ETF (562050) is recommended, which focuses on the top 50 A-share pharmaceutical companies, balancing innovative drugs with traditional Chinese medicine [4][12].