创新药板块全天震荡调整，石药集团、翰森制药跌超8%，百济神州跌超6%，康方生物、中国生物制 药、药明康德跌超5%。 有券商表示，创新药长牛行情或远未结束，中国工程师红利带来的创新药资产尚未充分兑现商业化价 值。港股创新药板块估值较低，BD落地数量多且确定性高，未来大赛道如小核酸、口服GLP1等BD授 权仍处火热阶段，出价和并购金额持续高企，看好其爆发力。 | 代码 | SEAR | 名称 | 现价 | 涨跌 | 涨跌幅 ▲ | | --- | --- | --- | --- | --- | --- | | 159316 | 篇 | 恒生创新药ETF T+0 | 1.581 | -0.073 | -4.41% | | 520700 | 跨 | 港股创新药ETF基金 T+0 | 1.843 | -0.078 | -4.06% | | 520970 | 跨 | 港股通创新药ETF嘉实 T+0 | 1.035 | -0.043 | -3.99% | | 520880 | 覧 | 港股通创新药ETF T+0 | 0.634 | -0.026 | -3.94% | | 159217 | 腰 | 酒版画創新药ETF工银 T ...

Core Viewpoint - The Hong Kong innovative drug sector experienced a significant drop, with companies like BeiGene, China Biologic Products, CSPC Pharmaceutical Group, and Innovent Biologics seeing declines of over 10% in early trading. However, the Hong Kong Innovative Drug ETF (159567) rebounded, indicating strong investor interest and a potential bottoming out in the market [1] Group 1: Market Performance - The Hong Kong innovative drug ETF (159567) opened low but saw a recovery, with a market price premium of nearly 1% [1] - The ETF recorded a net subscription of 904 million shares during intraday trading, reflecting strong demand from investors [1] Group 2: Industry Outlook - Analysts suggest that the long-term bullish trend for innovative drugs may not be over, as the commercialization value of innovative drug assets driven by China's engineering talent has yet to be fully realized [1] - The valuation of the Hong Kong innovative drug sector remains low, with a high number of business development (BD) deals that are both numerous and certain, indicating a robust future pipeline in areas like small nucleic acids and oral GLP-1 [1] - The performance of the innovative drug, CXO, and biopharmaceutical sectors has shown signs of recovery, with China's pharmaceutical industry now possessing global competitiveness [1] Group 3: Investment Opportunities - The Hong Kong Innovative Drug ETF (159567) tracks the Guozheng Hong Kong Stock Connect Innovative Drug Index, aiming to reflect the performance characteristics of listed companies in the innovative drug sector within the Hong Kong Stock Connect [1] - Investors can also access the Hong Kong Innovative Drug ETF feeder funds (Class A: 023929, Class C: 023930) for a streamlined investment approach to capitalize on the upward potential of the innovative drug sector [1]