SNIBE(SZ:300832) Mei Ri Jing Ji Xin Wen·2026-01-05 03:16Group 1 - The core viewpoint of the articles highlights a significant surge in the Chinese innovative drug sector, with license-out transactions exceeding $130 billion, marking a year-on-year increase of over 150% and surpassing 50% of the global total for the first time [1] - The cash flow generated from business development (BD) and the IPO boom is providing ample funding for research and development, which is crucial for the industry's future growth [1] - Three main driving forces for the industry in 2026 are identified: commercialization realization, clinical data validation, and improvement of payment systems, which are expected to usher in a new era of "value realization" [1] Group 2 - The Hang Seng Medical ETF (159892) focuses on innovative drugs, CXO, and related industries, benefiting from the advantages of the Hong Kong Stock Exchange's 18A system, which covers numerous innovative targets [2] - The ETF is expected to continue its valuation recovery trend under the catalysts of innovative drug exports and commercial insurance directories [2]