医药行业周报：24Q4基金分析，创新药、并购重组等强逻辑个股获增持

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical and biotechnology industry [2]. Core Insights - The pharmaceutical and biotechnology sector has seen a decline in total market capitalization as a percentage of the overall A-share market, dropping from a peak of 10% in Q2 2021 to 6.2% in Q4 2024 [9][12]. - Public fund holdings in the pharmaceutical sector have reached a new low, with the total market value of pharmaceutical fund holdings decreasing from 13.6% in Q1 2024 to 8.6% in Q4 2024 [12]. - The report highlights that innovative drugs and medical devices remain core investment areas, with top holdings including Mindray Medical, Heng Rui Medicine, and WuXi AppTec [17][18]. Summary by Sections 1. Pharmaceutical Fund Holdings Analysis - The total market capitalization of the pharmaceutical sector has been on a downward trend since Q3 2021, with a current ratio of 6.2% [9]. - Public fund holdings in the pharmaceutical sector have decreased to a new low of 8.6% in Q4 2024, with a total market value of 25.38 billion [12]. - The top five holdings in the pharmaceutical sector include Mindray Medical, Heng Rui Medicine, WuXi AppTec, United Imaging Healthcare, and Aier Eye Hospital [17]. 2. Weekly Market Review and Hotspot Tracking (January 20-24, 2025) - The pharmaceutical sector index increased by 0.09% during the week, underperforming the CSI 300 index by 0.45% [23]. - Year-to-date, the pharmaceutical sector index has decreased by 3.75%, while outperforming the CSI 300 index by 1.16% [23]. - The top five performing stocks during the week were Jianyou Co., Aosaikang, Xiangsheng Medical, Haitai New Light, and Rundat Medical, with gains ranging from 7.80% to 12.61% [42][45].