Group 1 - The Shanghai Composite Index has surpassed 3400 points, driven by strong performance in the securities and insurance sectors, marking one of the best-performing sectors in recent years [1][5] - A report from Goldman Sachs highlights that banks, which have the highest underweight ratio among public funds, are showing the strongest performance, while electronics, with the highest overweight ratio, are performing the weakest [2][4] - New regulations for public funds state that if fund performance lags behind benchmarks by more than 10%, fund managers' compensation will be significantly affected, prompting a shift in holdings towards benchmarks [4] Group 2 - Despite a decline in net profits for major banks in Q1, the banking sector has quickly rebounded to new highs, also boosting the securities and insurance sectors [5] - There is skepticism regarding whether fund managers will generally increase allocations to the financial sector, as the narrative of aligning with benchmarks may not hold true in all cases [6] - The Chinese government has recently announced a tariff adjustment on the U.S., effective from May 14, which may impact market dynamics [8] Group 3 - The U.S. CPI data shows a year-on-year increase of 2.3% in April, the lowest level since February 2021, which may influence Federal Reserve policy decisions [10] - A historic commercial agreement between the U.S. and Saudi Arabia involves a $600 billion investment commitment from Saudi Arabia, which is expected to boost U.S. markets [12] - The A-share AI medical sector is anticipated to enter a new growth phase, driven by recent market trends and favorable conditions [12] Group 4 - The market closed with the Shanghai Composite Index up 0.86%, and the ChiNext Index up 1.01%, indicating overall positive market sentiment [13] - Non-bank financials, transportation, food and beverage, and retail sectors led the market gains, while defense, beauty care, and machinery sectors lagged [15]

分理由确信上市公司向上海证券交易所提交的 及其他相关文件 文件不存在虚假记载、误导性陈述或重大遗漏 对上市公司的信息披露文件及向中国证监会、上 海证券交易所提交的其他文件进行事前审阅，对 存在问题的信息披露文件应及时督促上市公司 予以更正或补充，上市公司不予更正或补充的， 应及时向上海证券交易所报告； 保荐机构对麦澜德的信息披露文 应在上市公司履行信息披露义务后五个交易日 上海证券交易所报告的情况 内，完成对有关文件的审阅工作，对存在问题的 信息披露文件应及时督促上市公司更正或补充， 上市公司不予更正或补充的，应及时向上海证券 交易所报告 麦澜德及其控股股东、实际控制 关注上市公司或其控股股东、实际控制人、董事、 人、董事、监事、高级管理人员 监事、高级管理人员受到中国证监会行政处罚、 不存在 受到中 国证监会 行政处 罚、上海证券交易所纪律处分或 所出具监管关注函的情况，并督促其完善内部控 者被上海证券交易所出具监管关 制制度，采取措施予以纠正 注函的情况 持续关注上市公司及控股股东、实际控制人等履 麦澜德不存在控股股东、实际控 行承诺的情况，上市公司及控股股东、实际控制 人等未履行承诺事项的，及时向上海证 ...

Group 1 - The Hang Seng Medical Index ETF has shown significant liquidity with an intraday turnover of 2.58% and a transaction volume of 6.738 million yuan, with an average daily transaction volume of 28.499 million yuan over the past month [2] - The ETF has experienced a notable increase in scale, growing by 4.1161 million yuan over the past week, ranking first among comparable funds, and its shares increased by 6 million units, also ranking first [2] - In terms of capital inflow, the ETF has seen net inflows on 4 out of the last 5 trading days, totaling 13.3303 million yuan [2] Group 2 - The current price-to-earnings ratio (PE-TTM) of the Hang Seng Medical Healthcare Index is 23.43, which is in the 4th percentile over the past year, indicating that the valuation is lower than 96% of the time in the past year and is at a historical low [2] - The top ten weighted stocks in the Hang Seng Medical Healthcare Index include WuXi Biologics, BeiGene, Innovent Biologics, and others, collectively accounting for 56.46% of the index [2] Group 3 - Industry experts believe that after four years of decline, the market's pessimistic expectations for the healthcare sector have been fully digested, and advancements in emerging technologies such as innovative drugs and AI healthcare are ongoing, leading to a potential recovery in the pharmaceutical sector [3] - The recovery in the healthcare sector is expected to be sustainable over a longer period, with a focus on increasing allocations towards emerging areas like AI healthcare and brain-computer interfaces [3] - Investors without stock accounts can access investment opportunities in the Hong Kong healthcare sector through the Hang Seng Medical Index ETF linked fund (018433) [3]

5月13日，港股全天表现低迷，三大指数呈现低开低走行情，尤其是恒生科技指数大跌3.26%，恒生指数、国企指数分别下跌1.87%及2.02%，恒指更是止步8 连涨。 昨日中美关税削减重大利好，未能持续推动市场上行。 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 √ | | --- | --- | --- | --- | --- | | 恒生指数 800000 | min | 23108.27 | -441.19 | -1.87% | | 国企指数 800100 | min | 8386.21 | -173.02 | -2.02% | | 恒生科技指数 800700 | min | 5269.66 | -177.69 | -3.26% | 盘面上，作为市场风向标的大型科技股集体走低，昨日受关税影响而大涨的苹果概念股、汽车股、半导体芯片股跌幅较为明显；中资券商股、军工股、手游 股、体育用品股、保险股、电信股、家电股纷纷走低。另一方面，机构对黄金长期展望乐观，黄金股再度活跃，生物医药股集体反弹，海运股、内银股多数 上涨。 具体来看： 科技股低迷，美团、快手跌超4%，阿里、小米跌超3%，腾讯、京东、百度纷纷跟跌。消 ...

Market Overview - The A-share market showed mixed performance on May 13, with the Shanghai Composite Index rising by 0.17%, while the Shenzhen Component and ChiNext Index fell by 0.13% and 0.12% respectively [1] Active Sectors - The port and shipping sector, closely related to foreign trade, saw significant gains, with stocks like Ningbo Shipping and Ningbo Ocean reaching their daily limit [2] - The banking sector experienced a positive trend, with all bank stocks rising, including historical highs for Shanghai Pudong Development Bank, Shanghai Bank, Chengdu Bank, and Jiangsu Bank [2] - The photovoltaic industry chain, including photovoltaic equipment, BC batteries, and POE films, also saw an increase. Guojin Securities forecasts a sustained growth rate of 10% to 15% for new photovoltaic installations by 2025, with diverse regional distribution expected to drive demand [3] - The consumer sector, particularly in beauty and personal care, led the gains, with stocks like Jinbo Biological and Runben Co. reaching historical highs. Analysts noted the rise of the "beauty economy" and self-care trends driving consumer purchases in skincare and cosmetics [4] - The chemical sector, including epoxy propane and dyes, experienced an uptick, with popular stocks like Zhongyida and Hongqiang Co. hitting their daily limit [5] - The pharmaceutical sector, particularly in medical services and gene sequencing, also saw growth. OpenAI announced a new testing evaluation set for healthcare AI systems, which may enhance capabilities in the medical field [6]

（原标题：港股通创新药ETF工银、港股通创新药ETF、恒生医疗ETF、医疗ETF上涨，机构看好医药赛道） 上证指数收涨0.17%，创业板指跌0.12%。海运港口股掀涨停潮，银行、医药涨幅居前。 ETF方面，港股通创新药ETF工银、汇添富港股通创新药ETF、景顺长城港股创新药50ETF、富国恒生医疗ETF、国泰创新药沪深港ETF、医疗ETF 易方达、华夏医疗器械ETF、华宝医疗ETF、嘉实恒生医疗指数ETF、博时恒生医疗ETF、广发港股创新药ETF涨超1.5%。 资金净流入部分医药主题ETF。其中，截至5月12日，汇添富港股通创新药ETF、富国恒生医疗ETF、华宝医疗ETF、银华港股创新药ETF、银华创 新药ETF、天弘生物医药ETF、广发港股创新药ETF、医疗ETF易方达年内净流入额分别为21.99亿元、13.27亿元、12.29亿元、9.45亿元、6.94亿 元、4.75亿元、4.5亿元、 2.28亿元。 消息面上，中美经贸高层会谈联合声明发布，双方同意大幅降低双边关税水平，美方取消共计91%的加征关税，中方相应取消91%的反制关税； 美方暂停实施24%的"对等关税"，中方也相应暂停实施24%的反制关税。 ...

智通财经5月13日电，午后贝瑞基因涨停，华大基因涨超15%，迪安诊断、安必平、嘉和美康、美年健 康、润达医疗等涨幅靠前。消息面上，OpenAI宣布推出了一个专门面向医疗大模型的测试评估集 —— HealthBench 并开源，旨在更好地衡量 AI 系统在医疗健康领域能力，为进一步推动AI医疗技术的发展 和应用做出重要贡献。 AI医疗概念震荡走强 贝瑞基因涨停 ...

5月份，增量政策可能不多，但储备政策不少，政策定力仍然很强，目标是应对关税的冲击。因此，市 场在度过业绩风险后仍然会关注科技成长主题。内需相关板块仍会是国内政策的首要着力点，低利率环 境下业绩稳定的高股息板块仍有配置价值。除此以外，在可能出现的关税缓和过程中，那些品牌力强、 定价能力强、替代难度大的公司有望迎来估值的修复。 谭小兵：看好有边际变化的成长股 4月份市场呈现V字形走势，内需与红利好于成长股。展望5月份，进入业绩真空期，市场对指数填补之 后能否继续上攻还是存在分歧，个人相对还是偏乐观：一方面是国内政策会逐步兑现；另一方面中美谈 判或拉开序幕，这有利于修复市场的风险偏好。方向上看好有边际变化的成长股。 回顾4月，美国"对等关税"来袭，全球市场剧烈波动，就中国资产来看，月内A股和港股主要指数收 跌。进入5月，尽管外部不确定性因素依然存在，但中美关税谈判窗口有望来临，国内一揽子增量政策 也在加速落地，为国内股市稳定发展带来有力支撑。 展望后市，市场将会如何演绎？哪些投资机会值得关注？一起来看看长城基金权益基金经理们的观点吧 ~ 杨建华：持续关注关税政策 展望5月，关税政策及中美贸易谈判仍将会成为左右市场的 ...

Group 1 - The core viewpoint is that the pharmaceutical sector is focusing on innovation, with a positive trend in innovative drugs supported by policies and increasing global competitiveness [2] - The Shanghai Stock Exchange Science and Technology Innovation Board Biomedicine Index has shown a 1.27% increase, indicating a recovery in the biotech sector [1] - The ETF tracking the Biomedicine Index has seen a 1.17% rise, with significant trading volume exceeding 8.12 million yuan, reflecting investor interest [1] Group 2 - The pharmaceutical industry is expected to see a recovery in demand by 2025, particularly in the consumer healthcare sector, driven by improving economic fundamentals [2] - The medical device sector is also anticipated to improve by 2025, indicating a broader recovery in the healthcare industry [2] - AI in healthcare is highlighted as a significant technological trend that could bring changes to the pharmaceutical industry [2] Group 3 - The pharmaceutical index has stabilized after a period of decline since 2021, with signs of recovery beginning in Q4 2024 [2] - The ongoing innovation in the pharmaceutical sector, along with favorable drug procurement policies, is expected to drive a new growth cycle [2] - The aging population and unmet clinical needs are contributing to long-term growth trends in the pharmaceutical industry [2]

截至2025年5月13日 09:39，恒生医疗保健指数(HSHCI)强势上涨1.38%，成分股百济神州(06160)上涨5.16%，医脉通(02192)上涨5.15%，乐普生物-B(02157)上 涨4.67%，信达生物(01801)，翰森制药(03692)等个股跟涨。恒生医疗ETF(513060)上涨1.72%，最新价报0.47元。流动性方面，恒生医疗ETF盘中换手 3.08%，成交3.05亿元。拉长时间看，截至5月12日，恒生医疗ETF近1月日均成交13.50亿元，排名可比基金第一。 德邦证券指出，AI的发展带动AI医疗的全面普及，大量医疗企业接入DS、华为等AI模型，开始摸索AI在医疗的应用。我们认为，1）拥有大量底层病人数据 的企业将有很大应用落地空间，2）拥有医保数据的企业有望深入应用AI，3）AI制药继续升级，建议关注此类公司。此外，积极关注1）创新药及其产业链 的技术革新与BD潜力；2）有业绩，基本面出现拐点的企业。 西南证券表示，2025年2月，国产大模型DeepSeek-R1全面开源与多领域适配，AI医疗迈入技术融合与行业重构的新阶段，DeepSeek的多模型协同能力成为 行业新范式。这种" ...