医药生物行业周报：消费刺激政策预期强烈，关注生育及儿童相关的医疗消费

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" [2] Core Viewpoints - There is a strong expectation for consumer stimulus policies, particularly focusing on fertility and child-related medical consumption [2][4] - The medical service sector has shown significant growth, with a weekly increase of 6.44%, while the chemical pharmaceutical sector had the smallest increase at 1.09% [4][10] - The report emphasizes the potential benefits of upcoming fertility-related policies and consumer medical services due to strong policy expectations [4][10] Summary by Sections Market Performance - The pharmaceutical and biotechnology sector's weekly return was -0.62%, underperforming the CSI 300 by 2.20%, ranking 29th among 31 first-level sub-indices [4][10] - Over the past month, the sector's return was +9.00%, outperforming the CSI 300 by 7.28%, ranking 2nd among 31 first-level sub-indices [19] Industry Dynamics - Huawei has established a healthcare division to develop AI-assisted diagnostic solutions, marking a strategic shift towards systematic advancements in smart healthcare [4][10] - The National Healthcare Security Administration issued guidelines for pricing projects related to neurological services, integrating existing projects into 82 items and adding new pricing categories [4][10] - Local governments, such as Hohhot, are implementing fertility incentives, including one-time subsidies for families having children [4][10] Investment Recommendations - Focus on the fertility-related industry chain, with recommendations for companies like Jinxin Reproductive and various pediatric pharmaceutical firms [4][10] - In the consumer medical sector, companies in ophthalmology, dental care, and medical aesthetics are highlighted for potential investment [4][10] - AI in healthcare is seen as a key growth area, with recommendations for companies involved in AI-driven drug development and diagnostics [4][10] Quarterly Report Outlook - Anticipation for the first quarter of 2025 includes monitoring companies benefiting from seasonal flu treatments and orthopedic supplies [4][10]