医药投资人开始翻身了

Core Viewpoint - The article highlights the resurgence of the Chinese biopharmaceutical industry, particularly focusing on the recent openings for IPOs on the STAR Market, signaling a potential recovery and growth phase for innovative drug companies in China [3][5][12]. Group 1: IPO Developments - The STAR Market has reopened its doors for innovative drug companies, with the first successful IPOs occurring after a long hiatus, including companies like He Yuan Bio and Bei Xin Life [5][6]. - Biotech company Bibet has received approval for its IPO after three years of waiting, marking a significant milestone for the company and the industry [3][6]. - The approval of the fifth set of listing standards for unprofitable companies on the STAR Market has revitalized the IPO landscape for the biopharmaceutical sector [5][12]. Group 2: Market Performance - The Hong Kong stock market has seen a remarkable performance in the healthcare sector, with the healthcare index rising over 45% in the first half of 2025, outperforming other industries [9][10]. - Notable stocks like Gilead Sciences and others have experienced significant price increases, with some companies achieving tenfold returns, indicating a strong recovery in investor sentiment [9][10]. - The successful IPO of companies like Ying En Bio, which saw a first-day surge of over 116%, reflects the growing investor interest and confidence in the biopharmaceutical sector [11]. Group 3: Investment Trends - There is a notable shift in investment focus back to the biopharmaceutical sector, with many investors previously hesitant now recognizing the potential for growth and returns [12]. - The article mentions that international investors are increasingly aware of the value of Chinese innovative drug companies, with many regretting missed opportunities in the Hong Kong market [10][12]. - The trend of mergers and acquisitions in the biopharmaceutical space is on the rise, with significant deals indicating a growing recognition of the quality of Chinese assets [12][13].