医药行业周报：本周医药上涨1.1%，华为组建医疗军团，因美纳被禁止向中国出口基因测序仪

Investment Rating - The report rates the pharmaceutical industry as "Overweight," indicating an expectation for the industry to outperform the overall market [4][24]. Core Insights - The pharmaceutical sector saw a weekly increase of 1.1%, with the overall valuation at 23.5 times PE for 2025E, ranking 7th among 31 primary industries [4][10]. - The government work report emphasizes support for innovative drug development and the cultivation of future industries such as biomanufacturing [12]. - Huawei has established a healthcare division focused on AI-assisted diagnostic solutions, enhancing clinical applications of medical models [13]. - The Chinese government has prohibited Illumina, a leading global gene sequencing company, from exporting gene sequencing instruments to China [14]. - Investment recommendations include focusing on companies in traditional Chinese medicine, pharmaceutical commerce, and AI healthcare collaborations [4]. Market Performance - The pharmaceutical index increased by 1.1% this week, while the Shanghai Composite Index rose by 1.6% and the Wind All A Index (excluding finance and petrochemicals) increased by 2.7% [5][4]. - Within the pharmaceutical sector, the performance of various sub-sectors varied, with raw materials up by 2.1% and medical equipment down by 0.1% [7]. Key Events - The government work report on March 5 highlighted the importance of the "three medical linkages" and proposed reforms to enhance public hospital services and resource distribution [12]. - The establishment of Huawei's healthcare division aims to leverage AI technology for improved diagnostic capabilities [13]. - The ban on Illumina's exports is expected to impact the gene sequencing market significantly [14]. Valuation and Recommendations - The overall valuation of the pharmaceutical sector is noted at 23.5 times PE for 2025E, with specific companies recommended for investment based on their market positions and growth potential [10][17]. - Suggested stocks include traditional Chinese medicine firms and companies involved in AI healthcare solutions [4].