万联晨会-20250618

Core Insights - The A-share market experienced a decline on Tuesday, with the Shanghai Composite Index falling by 0.04%, the Shenzhen Component Index by 0.12%, and the ChiNext Index by 0.36%. The total market turnover was 1,237.1 billion yuan, a decrease of 6.4 billion yuan from the previous day, with over 3,000 stocks declining. Sectors such as brain-computer interfaces, oil and gas, digital currency, and solid-state batteries saw the highest gains, while weight loss drugs and IP economy sectors faced the largest declines [3][6]. - The National Development and Reform Commission announced an increase in gasoline and diesel prices, effective from June 17, 2025, with gasoline prices rising by 260 yuan per ton and diesel prices by 255 yuan per ton [7]. Industry Analysis - The National Medical Products Administration released a draft notice on June 16, 2025, aimed at optimizing the review and approval process for clinical trials of innovative drugs. The new policy stipulates that eligible Class 1 innovative drug clinical trial applications will be reviewed and approved within 30 working days [8][9]. - The draft outlines that eligible innovative drugs must be traditional Chinese medicine, chemical drugs, or biological products that meet specific criteria, including being supported by the state, included in special programs for children's drugs or rare diseases, or developed synchronously on a global scale [9]. - The new policy is expected to accelerate the market entry of innovative drugs, shifting the focus from "Fast-Follow" to "First-in-Class" for domestic products. Key areas of focus include children's drugs and rare diseases, with the administration encouraging the development of these categories through various incentives [10]. - The report highlights that the approval timeline for innovative drugs has been reduced from 60 days to 30 days, which is anticipated to enhance the global competitiveness of domestic innovative drugs [10].