Core Viewpoint - The MSCI China Healthcare Index has increased by 0.6% since the beginning of 2026, outperforming the MSCI China Index by 3.5% [1] Industry Summary - The pharmaceutical industry has recently experienced a notable correction, particularly in the innovative drug sector, which has seen a significant decline [1] - The government's work report has identified biomedicine as an emerging pillar industry, leading to a mild recovery in risk appetite within the sector [1] - The elevation of policy positioning indicates a transition of the pharmaceutical industry from a "strategic emerging industry" to an "emerging pillar industry," suggesting that policy benefits across the entire value chain will continue to be released [1] - Breakthroughs in AI drug development technology, combined with the expansion of Chinese innovative drugs into overseas business development, are expected to create a dual resonance that accelerates the improvement of the industry's fundamentals [1] Company Recommendations - The following companies are recommended for purchase, with target prices set at: - Innovent Biologics (01801) - HKD 110.62 [1] - 3SBio (01530) - HKD 37.43 [1] - JACOB (01167) - HKD 10.34 [1] - Genscript Biotech (02273) - HKD 44.95 [1] - WuXi AppTec (02268) - HKD 88 [1]
招银国际：料中国医疗行业基本面加速向好 推荐买信达生物(01801)三生制药(01530)等