医药生物行业周报：短期回调不改市场回暖趋势，持续看好创新和AI医疗，建议关注25Q1业绩有望超预期标的

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" [2] Core Views - The report emphasizes that the recent short-term pullback does not alter the overall warming trend of the market, with a continued focus on innovation and AI in healthcare. It suggests monitoring companies that are expected to exceed performance expectations in Q1 2025 [1][3] Market Performance - The pharmaceutical and biotechnology sector experienced a weekly return of -2.72%, outperforming the CSI 300 index by +0.73%, ranking 23rd among 31 first-level sub-industry indices. The smallest weekly decline was in the Traditional Chinese Medicine II sector at -0.39%, while the largest decline was in Biologics at -7.94% [4][10] - Over the past month, the sector's return was +5.07%, outperforming the CSI 300 index by +3.16%, ranking 9th among the first-level sub-industry indices [10][12] Industry Dynamics - The report highlights the launch of "AI Heart Doctor" - CardioMind beta version, a significant breakthrough in AI technology for cardiovascular specialties, integrating multimodal diagnostic data and expert physician experience [4][10] - The report notes a temporary pullback in AI healthcare, influenced by performance reports from companies like BeiGene and upcoming data releases for several innovative drugs, which have rekindled investment sentiment in the innovative drug sector [4][10] Investment Opportunities - The report suggests focusing on several sub-sectors: - AI-Enabled Drug Development: Companies like Crystal Technology, Via Biotechnology, and Hongbo Pharmaceutical are recommended for their potential in accelerating new drug launches [4][10] - Cost Reduction and Efficiency in Medical Services: Companies such as Kingmed Diagnostics and Aier Eye Hospital are highlighted for their AI-driven improvements in service quality and patient flow [4][10] - AI in Genomics: Companies like BGI Genomics and DaAn Gene are suggested for their roles in advancing precision diagnostics through AI [4][10] - AI Virtual Doctors: Platforms like Ping An Good Doctor and Alibaba Health are noted for their potential in alleviating patient load through AI [5][10] Expected Performance in Q1 2025 - Companies expected to exceed performance expectations in Q1 2025 include those benefiting from the winter-spring flu season, such as Innotec and Shengxiang Biology, as well as orthopedic consumables companies like Aikang Medical and Kangtuo Medical [6][11]