Core Viewpoint - The rapid increase in valuations within the pharmaceutical sector has led multiple medical-themed funds to announce early closures of their fundraising efforts, aiming to capitalize on the upward trend in innovative drug stocks [1][2]. Fundraising Trends - Several new funds targeting the pharmaceutical sector have opted to shorten their fundraising periods to seize opportunities in the rising market [2][7]. - For instance, the Oriental Alpha Health Industry Fund, initially set to close on June 13, ended its fundraising on June 10 after just four trading days, indicating strong demand and a completed target fund size [2][3]. Market Performance - The Hang Seng Healthcare Index saw a cumulative increase of 10.45% over the last five trading days, with many favored pharmaceutical stocks rising between 20% and 30% [7]. - The swift valuation changes in the pharmaceutical sector necessitate quick capital deployment to avoid potential losses from high entry points [7]. Future Outlook for Innovative Drugs - The year 2025 is anticipated to be a pivotal year for China's innovative drug industry, marking the beginning of significant revenue growth and profitability for many companies [8]. - Fund managers believe that 2025 will be the starting point for collective revenue increases among innovative drug firms, following negotiations on medical insurance in 2024 [8]. Investment Strategy Shift - Fund companies are increasingly prioritizing the investment experience of fund holders over merely achieving high initial fundraising amounts, especially in rapidly changing market conditions [6]. - The focus on user experience and timely market entry is seen as crucial for long-term performance and brand reputation [6].