金十数据7月11日讯，今日，A股三大指数早盘走高，尾盘稍有回落。截至收盘，上证指数收涨0.01%， 深证成指收涨0.61%，创业板指收涨0.8%。稀土永磁概念延续涨势，北方稀土、包钢股份、奔朗新材等 多股涨停；券商概念大幅走高，指南针涨超11%；船舶制造、软件开发、数字货币、多元金融、创新药 等概念今日收涨。银行板块午后转跌，PCB、房屋检测、城市更新、电源设备、游戏等概念日内走低。 资金面上，沪深两市成交额达1.71万亿，较昨日放量约2180亿，主力资金净流出约120亿。 A股收评：创业板指收涨0.8%，稀土永磁概念全天强势 ...

Core Insights - The recent issuance of the "Measures to Support the High-Quality Development of Innovative Drugs" by the National Medical Insurance Administration and the National Health Commission marks a significant breakthrough in China's innovative drug payment system, focusing on a dual-track payment model of "medical insurance + commercial insurance," research and development support, and expedited drug availability [1][1][1] Industry Summary - The new policy establishes a "commercial insurance innovative drug catalog," promoting collaboration between medical insurance and commercial insurance to provide multi-layered payment guarantees for high-value new drugs, addressing accessibility bottlenecks for innovative drugs [1][1] - The policy encourages insurance capital to directly invest in innovative drug research and development, fostering patient capital to accelerate the transformation of research pipelines [1][1] - The biopharmaceutical industry is showing signs of a turning point, with nearly 40 innovative drugs approved in the first half of 2025, leading to a surge in demand for upstream life science services, alongside a trend of domestic substitution catalyzed by tariff barriers [1][1] - Major industry players are accelerating mergers and acquisitions, enhancing the overall sector's prosperity, with companies like King’s Ray Biotech and Nanwei Technology benefiting from the innovative drug business development boom [1][1] - Data indicates that commercial health insurance premium income will reach 977.3 billion yuan in 2024, forming a collaborative foundation with medical insurance funds, while patient five-year survival rates have improved to 43.7%, validating the clinical value of innovative drugs [1][1] Company Summary - The E Fund Medical ETF Linked Fund (Class A: 001344; Class C: 007883) aligns well with this trend, closely tracking the CSI Medical and Health Index, covering core areas such as innovative drugs, biotechnology, and medical devices, demonstrating both industry representation and balance [1][1] - The fund features efficient and transparent operations, primarily tracking the E Fund CSI 300 Medical ETF (512010) with an annual management fee rate of only 0.5%, making it accessible for ordinary investors starting with an investment of 10 yuan [1][1] - The underlying ETF has ample liquidity, ensuring smooth capital inflows and outflows, and as of July 10, 2025, the medical index valuation is reasonable, with a price-to-earnings ratio of approximately 29 times, showing steady returns driven by favorable policies [1][1]

Core Viewpoint - The National Healthcare Security Administration (NHSA) has released a work plan for the adjustment of the National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance drug catalog and the Commercial Health Insurance Innovative Drug Catalog, allowing eligible companies to apply for inclusion starting July 11, 2023 [1][3]. Group 1: Work Plan Details - The work plan allows for the application of new generic names or exclusive drugs for rare diseases approved for marketing within the last five years to be included in the Commercial Health Insurance Innovative Drug Catalog [1]. - The application process includes preparation, submission, initial review, public announcement, re-examination, and final announcement of the drug list [2]. - The timeline for the application process spans from July to November 2023, with specific phases for expert review and negotiation for pricing [2]. Group 2: Benefits for Innovative Drugs - Inclusion in the Commercial Health Insurance Innovative Drug Catalog can enhance sales for innovative drugs by leveraging the scale of basic medical insurance or commercial insurance [4]. - Drugs in the commercial insurance catalog are exempt from being counted in the basic medical insurance self-pay rate indicators and the monitoring of selected alternative products [4]. - The arrangement allows for innovative drugs to be excluded from the Diagnosis-Related Group (DRG) payment system, addressing the issue of high costs associated with innovative treatments [5]. Group 3: Application Choices for Companies - Companies can choose to apply for either the basic medical insurance catalog, the commercial health insurance innovative drug catalog, or both [6]. - The selection criteria for the commercial health insurance catalog focus on high innovation, significant clinical value, and substantial patient benefits, making it unlikely for the same drug to be included in both catalogs simultaneously [6][7]. - For products priced above the set standard, inclusion in the commercial insurance catalog is seen as more favorable compared to the basic medical insurance catalog [8].

Group 1 - The core viewpoint of the articles highlights a significant rally in the Hong Kong stock market, particularly in the technology sector, with notable gains in innovative drug stocks and major tech companies like Alibaba, Xiaomi, and Tencent [1][5][9] - The Hang Seng Technology Index has shown a narrow trading range over the past two months, indicating a potential breakout due to the upward trend in the market [1][3] - The Hong Kong stock market has experienced substantial volatility and structural differentiation, with strong performances in new consumption and innovative drugs, while AI and major players like Alibaba and Meituan faced challenges [5][6] Group 2 - The Hong Kong Technology Index has a broader coverage compared to the Hang Seng Technology Index, with a higher allocation in software and pharmaceuticals, benefiting from the growth in AI and innovative drugs [3] - The Hong Kong IPO market has been robust, with 46 companies listed in the first half of the year, raising a total of HKD 113.2 billion (approximately USD 14.4 billion), surpassing the total for the entire year of 2024 [9] - Southbound capital has significantly increased its net purchases of Hong Kong stocks, amounting to HKD 725.973 billion year-to-date, indicating its growing influence on the market [6][9]

Group 1 - The core viewpoint highlights the strong performance of the innovative drug ETF (560900), which saw a more than 2% increase in intraday trading, with significant trading volume and a notable rise in the underlying index [1] - The innovative drug ETF (560900) has shown impressive growth, with a weekly increase leading among comparable funds, and a substantial rise in both scale and shares over the past three months and six months [1] - WuXi AppTec's half-year performance forecast indicates a revenue of approximately 20.8 billion yuan, a year-on-year growth of about 20.64%, and a net profit attributable to shareholders of around 8.6 billion yuan, reflecting a significant year-on-year increase of approximately 101.92% [1] Group 2 - The trend of Chinese innovative drugs going global is accelerating, with the total value of License-out transactions expected to exceed $43 billion in 2024, accounting for nearly 20% of the global market [2] - The current overseas expansion models include "building ships" (self-declaration for overseas listing) and "borrowing ships" (outsourcing or establishing NewCo), with successful examples like BeiGene's Zebrutinib and Legend Biotech's Cilta-cel [2] - The total value of outbound licensing transactions reached $51.9 billion in 2024, with $48.4 billion disclosed in the first half of 2025, indicating a robust growth trajectory for Chinese innovative drugs [2] Group 3 - Morgan Asset Management is integrating its "Global Vision Investment Technology" product line to assist investors in seizing investment opportunities in quality technology companies amid a new wave of technological advancements driven by AI [2] - Various actively managed funds focus on emerging industry trends, including the Morgan Emerging Power Fund, which aims to capture opportunities in new industries, and the Morgan Smart Connectivity Fund, which targets AI-related sectors [3] - Passive investment options include the Morgan Hang Seng Technology ETF and the Morgan China Innovation Drug Industry ETF, providing investors with easy access to technology and innovative drug sectors [3]

上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到 先得！ 7 月11日早盘，A股三大指数集体高开。截至发稿，沪指涨0.76%，深成指涨0.54%，创业 板指涨0.72%。 板块上来看，大金融板块震荡拉升，券商、保险、银行等板块走强，创新药板块再度活跃； 而教育、零售、能源设备等板块震荡走低。 港股方面，三大指数均涨超1%，蔚来、阿里巴巴、阿里健康等涨幅居前。 | 整体市场 它 | | | | --- | --- | --- | | 恒生指数 | 恒生国企 | 恒生科技 | | 24404.33 | 8799.11 | 5302.50 | | +375.96 +1.56% | +130.85 +1.51% | +85.90 +1.65% | | 恒指期货 | 港股通50 | 恒生生物科技 | | 24419 | 3645.09 | 13922.77 | | +396 +1.65% | +56.48 +1.57% | +196.71 +1.43% | 此外，国盛金控发布的2025年半年度业绩预告显示，预计上半年归属于上市公司股东的净利 润为1.5亿元至2.2亿元，同比增长 ...

大金融早间再度全线走强，券商股领涨。医药股继续保持强势，出现涨停潮，其中，联环药业（600513）五日四涨停。 今日早盘，A股继续强势上攻，上证指数再创9个月来新高，上证50、沪深300均创年内新高，深证成指、创业板指等亦纷纷创出阶段性新高。不过下跌个 股略多于上涨个股，成交呈放大趋势。 | 名称 | 序 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 上证指数 | 15 | 3546.50 | 36.82 | 1.05% | | 深证成指 | 2 | 10731.19 | 100.06 | 0.94% | | 北证50 | 3 | 1419.97 | 11.80 | 0.84% | | 万得全A | 4 | 5448.22 | 49.28 | 0.91% | | 科创50 | 5 | 993.56 | 13.57 | 1.39% | | 创业板指 | 6 | 2215.53 | 25.95 | 1.19% | | 沪深300 | 7 | 4054.44 | 44.42 | 1.11% | | 中证500 | 8 | 6045.06 | 62.01 | ...

Group 1 - The CRO (Contract Research Organization) sector is experiencing a surge in stock prices, with notable increases in companies such as Boteng Co., Ltd. (20% increase), Kailaiying (10% increase), and WuXi AppTec (9.99% increase) [1][2][3] - The Hong Kong CXO concept stocks also saw significant gains, with Kailaiying and WuXi AppTec both rising over 10% [3][4] - WuXi AppTec is projected to achieve approximately RMB 20.8 billion in revenue for the first half of 2025, representing a year-on-year growth of about 20.64%, and an adjusted net profit of approximately RMB 6.315 billion, reflecting a year-on-year increase of about 44.43% [4][5] Group 2 - The growth in performance for WuXi AppTec is attributed to its focus on meeting customer demands, expanding capabilities, and optimizing production processes [5] - The CXO sector is expected to benefit significantly from the current high demand for innovative drugs, with a new upturn in the life sciences and CXO sectors anticipated [5][6] - Analysts predict that the CXO sector will see a recovery in domestic front-end business due to supportive industrial policies and improved investment conditions [6] Group 3 - The current wave of innovation in the pharmaceutical sector is seen as a significant turning point, with a shift from following trends to creating original products, indicating a fundamental change in the industry [7][8] - Large multinational pharmaceutical companies are increasingly purchasing innovative drug patents from China, driven by pressures to lower drug prices and the expiration of patents [8]

2025.07. 11 作者 | 一财资讯 截至午盘，上证指数涨1.05%，深成指涨0.94%，创业板指涨1.19%。全市场超2800只个股上涨。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | NN | 3546.50 | 36.82 | 1.05% | | 399001 | 深证成指 | र | 10731.19 | 100.06 | 0.94% | | 399006 | 创业板指 | S | 2215.53 | 25.95 | 1.19% | 盘面上，稀土永磁、大金融板块全线爆发，CRO、小金属板块涨幅居前，PCB、游戏板块走弱。 "黄金平替"，单日大跌6%！ 具体到个股来看，北方稀土、东方财富、药明康德获净流入28.01亿元、20.78亿元、16.07亿元。 净流出方面，ST华通、沃尔核材、金安国纪遭抛售4.67亿元、4.06亿元、3.06亿元。 机构观点 德讯投资顾问刘奎军认为，本周沪指带量站上3500点，主要做多动能来自银行等金融板块，市场情 绪回暖虽充足，但赚钱效应 ...

Market Overview - The A-share market saw all three major indices rise, with the Shanghai Composite Index up 0.48% to 3509.68 points, the Shenzhen Component Index up 0.47% to 10631.13 points, and the ChiNext Index up 0.22% to 2189.58 points [1] Trading Volume and Sector Performance - The combined trading volume of the Shanghai, Shenzhen, and North markets reached 151.53 billion yuan. Sectors such as silicon energy, new urbanization, and innovative pharmaceuticals showed significant gains [2] - In Shandong province, nearly 60% of stocks rose, with notable performances including Puliang Software hitting the daily limit, and Donghong Co., Jinding Mining, Shandong Fiberglass, and Wohua Pharmaceutical also reaching the daily limit [2] New Urbanization Initiatives - The new urbanization sector was particularly active, with stocks like New City, Huaxia Happiness, and Chongqing Construction hitting the daily limit. Donghong Co. is involved in municipal infrastructure construction and urban renewal projects [2] - The National Development and Reform Commission emphasized the goal of achieving basic new urbanization by 2035, focusing on high-quality advancement in key areas [2] Silicon Energy Sector - The silicon energy sector continued to strengthen, with companies like Tuori New Energy achieving three consecutive daily limits. Several silicon wafer companies have raised their prices, with increases ranging from 8% to 11.7% [2] Innovative Pharmaceuticals - The innovative pharmaceutical sector was active, with companies like Saily Medical, Lianhuan Pharmaceutical, and Haishike hitting the daily limit. The report from CICC highlighted the international competitiveness of Chinese innovative drugs, supported by recent clinical data disclosures [3] - Longcheng Securities noted that the A-share market is steadily rising, breaking previous highs, with a positive trading sentiment and emerging new market leaders [3]