Group 1 - The Hong Kong stock market has shown strong performance post-New Year, with the healthcare and pharmaceutical sectors exhibiting notable elasticity, as evidenced by the Hong Kong Stock Connect Medical ETF (520510) surging over 4% and achieving a year-to-date increase of over 20% [1] - The Hang Seng Medical ETF (159892) also experienced a year-to-date rise that once exceeded 17%, ranking among the top performers in the overall market ETFs [1] - Ark Health saw a significant increase of over 30% during trading, highlighting the robust interest in the healthcare sector [1] Group 2 - Zheshang Securities believes that the integration of AI and healthcare is flourishing, with policy support and market demand driving the industry into a rapid phase of commercialization [1] - In terms of AI healthcare applications, industry policies are clear and progress is swift, with five ministries issuing relevant implementation opinions by 2025, the launch of ChatGPT Health in early 2026, and Ant Group's Aifuku seeing monthly active users double to 30 million, all contributing to heightened market enthusiasm [1] - The Hong Kong Stock Connect Medical ETF (520510) tracks the Hong Kong Stock Connect Medical Theme Index, covering AI healthcare stocks such as Alibaba Health, JD Health, and Ping An Good Doctor, and is expected to benefit from advancements in brain-computer interfaces, innovative drug exports, and the AI healthcare technology revolution [1]