Core Viewpoint - The Hong Kong Stock Connect innovative drug sector has seen a resurgence, with the high-volatility Hong Kong Stock Connect Innovative Drug ETF (520880) rising over 3.6% on January 7, 2023, and 36 out of 37 covered innovative drug companies showing positive performance [1][7]. Group 1: Market Performance - The Hong Kong Stock Connect Innovative Drug ETF (520880) quickly surged by 3.61%, reaching a price of 0.545 [2][7]. - Among the covered companies, Tongyu Pharmaceutical-B soared over 13%, while the leading company, Kangfang Biopharmaceutical, increased nearly 5% [1][7]. Group 2: Industry Developments - Innovative drug business development (BD) transactions are continuing to grow, with the total amount of outbound licensing for Chinese innovative drugs expected to reach $135.655 billion by 2025, marking a historical high with 157 transactions [3][9]. - China's pipeline of new drugs currently accounts for 30% of the global total, ranking second worldwide [3][9]. - The biopharmaceutical industry is entering a critical phase of innovation realization and global layout, with a potential performance inflection point and valuation restructuring expected by 2026 [3][9]. Group 3: ETF Characteristics - The Hong Kong Stock Connect Innovative Drug ETF (520880) and its associated fund (025221) track the Hang Seng Hong Kong Stock Connect Innovative Drug Select Index, which has three unique advantages: it is purely focused on innovative drugs, has a high concentration of leading companies (over 73% in the top ten), and has controlled risks by reducing the weight of less liquid stocks [3][9]. - For investors looking to reduce volatility while still focusing on innovative drugs, the only drug ETF in the market (562050) and its associated fund (024986) focus on the top 50 A-share pharmaceutical companies, with approximately 60% in innovative drugs and 25% in traditional Chinese medicine [4][10].
港股通创新药再爆发，520880冲上3.6%！机构：2026年国产创新药有望迎业绩拐点与估值重塑
Xin Lang Cai Jing·2026-01-07 02:29