Investment Rating - The industry investment rating is "Outperform the Market," indicating an expected increase of over 10% in the industry index relative to the market over the next six months [6][10]. Core Insights - The report highlights the release of the "Implementation Plan for the Digital and Intelligent Transformation of the Pharmaceutical Industry (2025-2030)" by seven government departments, focusing on high-end, intelligent, green, and integrated development of the pharmaceutical industry through digital transformation [2][3]. - The plan sets phased goals for 2027 and 2030, emphasizing the establishment of a digital infrastructure and comprehensive coverage of the pharmaceutical industry's digital transformation [3]. - The integration of digital technologies is expected to enhance the competitiveness and quality management of the entire pharmaceutical supply chain, addressing issues such as low R&D efficiency and high costs [5]. Summary by Sections Implementation Plan Overview - The plan aims for coordinated development across the entire pharmaceutical industry chain, including R&D, production, distribution, and regulation, with a focus on digital technology to improve overall industry competitiveness [3]. Phased Goals - By 2027, the focus will be on foundational digital development, technology breakthroughs, and service system construction, while 2030 aims for full coverage of digital transformation among large pharmaceutical enterprises [3]. Applications of Digital Technology - The report outlines various applications of digital technology in the pharmaceutical sector, including intelligent drug design, production monitoring, and supply chain optimization [4]. Investment Recommendations - The report suggests that the digital transformation is crucial for overcoming existing challenges in the pharmaceutical industry and recommends focusing on sectors such as AI drug development, medical big data, and smart pharmaceutical supply chains [5].

| 申万期货品种策略日报——股指 | 2025/4/25 | 星期五 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 申银万国期货研究所 贾婷婷（从业资格号：F3056905；交易咨询号：Z0016232 ）jiatt@sywgqh.com.cn;15921620356 | 申银万国期货研究所 柴玉荣 （从业资格号：F03111639；交易咨询号：Z0018586）chaiyr@sywgqh.com.cn;18802979529 | | | | | | | | | | | 一、股指期货市场 | IF当月 | IF下月 | IF下季 | IF隔季 | | | | | | | | 前两日收盘价 | 3765.20 | 3734.00 | 3677.00 | 3652.20 | 前日收盘价 | 3771.20 | 3736.80 | 3681.00 | 3657.20 | | | 涨跌 | 4.20 | 1.60 | 3.80 | 6.00 | 沪深300 | 涨跌幅 | 0.11 | 0 ...

Core Viewpoint - The implementation of the "Pharmaceutical Industry Digital Transformation Implementation Plan (2025-2030)" by seven government departments aims to enhance the digital transformation across the entire pharmaceutical industry chain, focusing on the deep application of artificial intelligence technology and the cultivation of excellent enterprises [1][3]. Group 1: Market Impact - Following the announcement, the pharmaceutical digitalization sector in the A-share market saw a collective rise, with notable increases such as 13.16% for Sichuang Medical [2][1]. - The digital transformation plan is expected to create significant opportunities for the pharmaceutical industry, effectively equipping it with a "digital brain" to enhance efficiency and reduce costs [6][7]. Group 2: Development Goals - The plan outlines two key stages: by 2027, significant progress in digital transformation should be achieved, and by 2030, large-scale pharmaceutical enterprises should have fully realized digital transformation [3][4]. - Specific targets include the development of over 30 digital technology standards and the establishment of more than 100 exemplary application scenarios in the pharmaceutical industry [4][5]. Group 3: Key Tasks - The plan identifies four major tasks: empowering with digital technology, promoting digital transformation, building a digital service system, and enhancing digital regulation [5][6]. Group 4: Market Growth Potential - The digital healthcare market in China is projected to exceed 1.2 trillion yuan by the end of 2024, with a compound annual growth rate of 24.5% [8]. - By 2025, the digital healthcare market is expected to surpass 1.8 trillion yuan, and by 2030, it could reach 2.5 trillion yuan, indicating a significant market opportunity driven by policy, technology, and demand [9]. Group 5: Company Innovations - Companies like Hengrui Medicine and Fosun Pharma are collaborating with AI platforms to enhance the efficiency of innovative drug development [11]. - Other firms, such as WuXi AppTec and Chengdu XianDao, are integrating AI into their research processes to improve precision and efficiency in drug development [10][11].

Group 1 - The Hong Kong stock market showed strength on April 25, with the Hang Seng Healthcare Index initially rising before retreating, and the Hang Seng Healthcare Index ETF (159557) increasing by over 1%, leading in gains among similar ETFs, with a premium trading rate of 0.61% [1] - Key stocks in the healthcare sector included Xintai Medical, which rose over 6%, Jingtai Holdings, which increased over 5%, and iFlytek Medical Technology, which gained over 4% [1] - A new policy from the Ministry of Industry and Information Technology and six other departments was announced on April 24, outlining the "Implementation Plan for the Digital Transformation of the Pharmaceutical Industry (2025-2030)", with significant goals set for 2027 and 2030 regarding technological advancements and digital transformation in the pharmaceutical sector [1] Group 2 - Guolian Minsheng Securities identified two core investment themes for the pharmaceutical sector in 2025: 1) High-quality innovative drugs going overseas, as domestic IND products are well-positioned for international markets; 2) Valuation recovery of left-side assets, focusing on sectors like CXO, consumer healthcare, and pharmacies that have seen significant pullbacks [2] - Huaxin Securities noted that the market is entering a period of consolidation, with potential challenges from simultaneous withdrawals of southbound and foreign capital, but maintains a bullish outlook for the medium term, emphasizing opportunities in the core technology sector and the long-term potential of the innovative drug industry post-policy adjustments [2]

Core Viewpoint - The Hang Seng Healthcare Index (HSHCI) has shown strong performance, with significant increases in constituent stocks and a notable rise in the Hang Seng Healthcare ETF, reflecting positive market sentiment and growth potential in the healthcare sector [3][4]. Group 1: Market Performance - As of April 25, 2025, the HSHCI rose by 1.77%, with notable gains from stocks such as Yidu Tech (10.15%) and WeDoctor (7.05%) [3]. - The Hang Seng Healthcare ETF (513060) opened high and increased by 2.68%, marking its fifth consecutive rise, with a latest price of 0.50 yuan [3]. - Over the past week, the Hang Seng Healthcare ETF has accumulated an 8.50% increase [3]. Group 2: Liquidity and Trading Volume - The Hang Seng Healthcare ETF had a turnover rate of 1.57% during the trading session, with a transaction volume of 183 million yuan [3]. - The ETF's average daily trading volume over the past month was 2.072 billion yuan, ranking first among comparable funds [3]. Group 3: Policy and Industry Outlook - On April 24, 2025, the Ministry of Industry and Information Technology and six other departments issued a notice on the "Implementation Plan for the Digital Transformation of the Pharmaceutical Industry (2025-2030)," aimed at enhancing the integration of AI and new information technologies within the pharmaceutical industry [3]. Group 4: Fund Performance and Metrics - The Hang Seng Healthcare ETF has seen a net asset growth of 715 million yuan over the past year, ranking in the top third among comparable funds [4]. - As of April 24, 2025, the ETF's net value increased by 41.16% over the past year, with a maximum monthly return of 28.34% since inception [4]. - The ETF's Sharpe ratio was reported at 1.34, indicating strong risk-adjusted returns [5]. Group 5: Valuation and Holdings - The latest price-to-earnings ratio (PE-TTM) for the HSHCI is 25.11, which is below 92.78% of the historical data over the past year, indicating a low valuation [5]. - The top ten weighted stocks in the HSHCI account for 57.54% of the index, with companies like BeiGene and WuXi Biologics being significant contributors [5].

Group 1 - The core viewpoint of the article highlights the positive market response to the announcement of the "Pharmaceutical Industry Digital Transformation Implementation Plan (2025-2030)" by the Ministry of Industry and Information Technology and six other departments, which emphasizes the integration of artificial intelligence in the pharmaceutical sector [1] - Companies such as Yidu Tech (02158.HK), Jingtai Holdings (02228.HK), Yimai Tong (02192.HK), and MicroPort Scientific Corporation-B (02252.HK) experienced significant stock price increases, with Yidu Tech rising by 6.27%, Jingtai Holdings by 4.08%, Yimai Tong by 2.13%, and MicroPort by 1.86% following the news [1] - The plan encourages the establishment of innovative platforms for pharmaceutical large models, promoting collaborative research and development of technology products and regulatory science within the industry [1] Group 2 - The initiative aims to strengthen the construction of standards, norms, technological ethics, application safety, and risk management in the pharmaceutical industry [1] - The focus on artificial intelligence applications is expected to enhance the overall efficiency and innovation capacity of the pharmaceutical sector [1]

智通财经APP获悉，4月24日，国家卫健委等七部门联合印发《医药工业数智化转型实施方案(2025-2030 年)》。《方案》提出，到2030年，规上医药工业企业基本实现数智化转型全覆盖，数智技术融合创新 能力大幅提升，医药工业全链条数据体系进一步完善，医药工业数智化转型生态体系进一步健全。 《方案》重点布局了数智技术赋能行动、数智转型推广行动、数智服务体系建设行动、数智监管提升行 动四大专项行动，通过14项重点工作任务的顺利实施，整体提升我国医药工业数智化转型的能力水平， 构建完整的产业生态。 《方案》针对医药研发、医药生产、经营管理决策、医药质量安全保障、医药流通与追溯、医药合同研 发生产服务(CXO)等多个核心领域，落实数智转型推广行动，详尽地列出了数据要素、知识模型、工具 软件、人才技能等关键要素清单，为医药企业与信息技术服务企业之间的协同合作铺设了清晰的指引路 径，使双方能够有的放矢，携手共创数智化应用场景，从而系统性地推进医药企业的数智化转型进程。 中国医药工业信息中心主任郭文表示，《方案》的发布标志着我国医药产业正式进入以数据驱动、智能 赋能为核心的高质量发展新阶段。这一政策将深刻重塑行业格局：通 ...

每经编辑 陈鹏程 王晓波 据央视新闻消息，当地时间4月24日，美国联邦储备委员会理事克里斯托弗·沃勒警告称，美国总统特朗普引发的贸易战可能很快会导致失业率上升。沃勒表 示，若关税维持现状，7月之前将不会对美国经济造成显著影响。如果特朗普政府恢复激进的关税水平，企业可能会开始裁员，如果失业率大幅上升，他将 支持降息。 国际油价走强，美油主力合约收涨0.80%，报62.77美元/桶；布伦特原油主力合约涨0.59%，报66.51美元/桶。 国际金价大幅反弹，现货黄金涨1.83%，报3347.95美元/盎司；COMEX黄金期货涨2.04%，报3361.30美元/盎司；COMEX白银期货涨0.01%，报33.87美元/盎 司。 欧洲三大股指收盘小幅上涨，德国DAX指数涨0.47%报22064.51点，法国CAC40指数涨0.27%报7502.78点，英国富时100指数涨0.05%报8407.44点。 2 目前中美未进行任何经贸谈判 外交部、商务部再次表明中方立场 1 隔夜市场 美股三大指数全线收涨，为连续第三个交易日上涨，道指涨1.23%，标普500指数涨2.03%，纳指涨2.74%；科技股普涨，特斯拉、亚马逊、微软涨 ...

近年来，以人工智能为代表的新一代信息技术与医药研发融合日益深入，本次《实施方案》聚焦医药工业全链条数智化转型，对人工智能技术深度应用、卓 越企业培育等方向做了重点部署。 2030年规上医药工业企业基本实现数智化转型全覆盖 新华财经北京4月24日电（记者 李唐宁）工业和信息化部、商务部、国家卫生健康委、国家医保局、国家数据局、国家中医药局、国家药监局等七部门联合 印发的《医药工业数智化转型实施方案（2025—2030年）》（以下简称《实施方案》）4月24日公布。 业内人士表示，人工智能等技术可破解医药工业的研发痛点、重构生产流程、优化流通体系。随着《实施方案》印发，医药工业数智化改造成为未来一段时 间的主攻方向，全产业链的数字化将提高产业整体效率、质量和创新能力，也将为中医药现代化带来机遇。 二是在"数智转型推广行动"方面，推广典型数智技术应用卓越场景，培育数智化转型卓越企业，建设数智化医药产业园区。 三是在"数智服务体系建设行动"方面，强化标准引领，加强质量支撑，培育创新载体，壮大服务队伍。 四是在"数智监管提升行动"方面，探索智慧监管新模式，创新智慧监管新工具，研究智慧监管新方法。 值得一提的是，根据医药工 ...

新华社北京4月24日电（记者张辛欣、周圆）记者24日获悉，工业和信息化部、商务部、国家卫生 健康委等七部门日前联合印发的《医药工业数智化转型实施方案（2025—2030年）》提出，到2030年， 规上医药工业企业基本实现数智化转型全覆盖。 方案围绕主要目标，聚焦数智技术赋能行动、数智转型推广行动、数智服务体系建设行动、数智监 管提升行动等四个方面系统提出14项具体工作任务。明确提出加强医药工业数智产品研发应用；鼓励医 药企业、医疗机构、科研院所等合作建设医药工业大数据平台，形成研发、生产、临床、大健康等领域 高质量数据集；鼓励建设一批高性能云计算平台、区块链、数据中心、5G行业虚拟专网、物联网等信 息基础设施，支撑医药企业"智改数转网联"等。 工业和信息化部有关负责人表示，将加强全链条政策有效衔接，统筹国家科技项目渠道加大对医药 工业数智化转型的支持，鼓励地方加强要素保障，鼓励医药工业企业及产业链上下游企业开展跨区域合 作，协同推进全产业链数智化升级。同时，还将推动医药工业数智化领域国内外法规接轨、标准认证、 业务技术交流。 方案提出两个阶段的发展目标：到2027年，医药工业数智化转型取得重要进展，包括突破一 ...