Group 1 - The Hong Kong pharmaceutical ETF (159718.SZ) experienced a decline of 2.27% with a premium of 0.24%, despite a net subscription of 9 million during the day [1] - Among the constituent stocks, Stone Four Pharmaceutical Group (02005) led with a gain of 5.19%, while the biggest loser was Shiyao Group (01093) with a drop of 6.84% [1] Group 2 - Innovent Biologics is collaborating with Takeda Pharmaceutical to develop IBI363, with a development cost sharing of 40/60, and a maximum revenue-sharing ratio in double digits [2] - The collaboration includes an upfront payment of $1.2 billion, which consists of a $100 million strategic investment, and potential milestone payments of up to $10.2 billion [2] - The market has seen a significant adjustment in innovative drugs over the past three months, but expectations have lowered, indicating potential for future catalysts [2] Group 3 - The innovative drug sector is viewed as a long-term industry trend, with a dual cycle of international expansion and domestic revenue growth, indicating an unstoppable upward trend [3] - The Hong Kong pharmaceutical ETF is a balanced composition that includes innovative drugs, CXO, internet healthcare, and innovative medical devices, serving as a convenient standardized tool for investors [3]