复宏汉霖H药胃癌围手术期适应症申报上市，肿瘤免疫治疗迎来里程碑

Investment Rating - The industry investment rating is "Overweight" (maintained) [7] Core Insights - The report highlights the significant breakthrough of Fuhong Hanlin's PD-1 inhibitor, H drug, which has received acceptance for registration for perioperative treatment of resectable gastric cancer, marking a key advancement in tumor immunotherapy [7] - The global tumor immunotherapy market is projected to grow at a compound annual growth rate (CAGR) of 8.0% from 2025 to 2031, indicating a substantial market opportunity as the treatment landscape expands from late-stage to early-stage therapies [7] - The report emphasizes the potential for A-share companies to benefit from this innovation, particularly those involved in tumor immunotherapy and related services [7] Summary by Sections Industry Performance - The industry has shown relative returns of -3.06% over the past month, -9.84% over the past three months, and -7.91% over the past year compared to the CSI 300 index [3] Recent Developments - The report discusses various recent developments in the pharmaceutical and biotechnology sector, including supportive policies in Sichuan and significant collaborations in the industry [4] Investment Recommendations - The report suggests focusing on "frontier breakthrough leaders" and "core assets in tumor innovation," recommending attention to companies such as Heng Rui Medicine, WuXi AppTec, and Kelun Pharmaceutical [7]