涨停潮！A股，突然异动！

Core Viewpoint - The Chinese innovative drug sector is experiencing significant growth, driven by strong performances at the 2025 ASCO annual meeting and increasing global licensing deals for domestic pharmaceutical companies [1][3][4]. Group 1: Market Performance - A-shares saw a rise in the three major indices, with the ChiNext index increasing by over 1%, and the innovative drug sector index rising by over 4%, with nearly 15 related stocks hitting the daily limit or rising over 10% [1][3]. - Since mid-May, innovative drug stocks have shown a strong upward trend, particularly accelerating since the end of May, with notable gains such as a nearly 115% increase for Lianhua Technology and over 88% for Changshan Pharmaceutical [3][6]. Group 2: ASCO Meeting Insights - The 2025 ASCO annual meeting in Chicago featured a record 73 oral presentations from Chinese companies, with 184 ADC pipeline studies included, of which 89 were from China, accounting for approximately 48.4% of the total [3][4]. - The ASCO meeting is recognized as the largest and most authoritative clinical oncology conference globally, showcasing the increasing presence and competitiveness of Chinese pharmaceutical companies in innovative drug development [4][6]. Group 3: Recent Developments - On May 20, a significant licensing agreement was made between 3SBio and Pfizer for a dual-specific antibody, with an upfront payment of $1.25 billion and potential total payments reaching $4.8 billion [6][8]. - The National Medical Products Administration approved 11 innovative drugs on May 29, reflecting the growing strength of domestic R&D capabilities, with over 30 new drugs approved this year across various therapeutic areas [6][9]. - On May 30, CSPC Pharmaceutical Group announced potential transactions involving drug development and commercialization, with possible payments totaling around $5 billion [7][8]. Group 4: Future Outlook - Analysts express optimism about the innovative drug sector's long-term growth, driven by a new cycle of innovation and increasing global competitiveness, with a focus on upcoming events like the ADA conference in June [8][9].