Group 1 - The global innovative drug investment and financing environment is recovering, with significant growth in sub-sectors like peptides and ADCs, which is expected to boost the CXO industry's performance [1] - WuXi AppTec reported Q1 2025 revenue of approximately 9.655 billion yuan, a year-on-year increase of 20.96%, and a net profit of about 3.672 billion yuan, up 89.06% year-on-year [1] - The Hong Kong innovative drug sector is experiencing a significant valuation correction, with the Hong Kong innovative drug index's P/E ratio dropping from 64 times to 27 times in less than two months, indicating attractive investment opportunities [1] Group 2 - The Hong Kong innovative drug ETF (159567) tracks the National Securities Hong Kong Stock Connect Innovative Drug Index, which has a 90% weight in innovative drug companies, positioning it to benefit from trends like AI-enabled drug development and the expansion of domestic innovative drugs [2] - The innovative drug ETF (159992) tracks an index that includes leading companies in the innovative drug industry chain, benefiting from AI advancements and new healthcare policies aimed at supporting innovative drugs [2] - Policies from Beijing and Shenzhen are promoting the development of innovative drugs and devices, focusing on R&D innovation, clinical trials, and regulatory approvals, which will enhance the competitiveness of innovative drug companies [2]