Group 1 - Pharmaceutical stocks collectively surged, with notable increases in companies such as Deqi Pharmaceutical-B (up 13.53% to HKD 6.04), Jiuyuan Gene (up 7.89% to HKD 11.76), and others [1] - The National Healthcare Security Administration announced the preliminary review results for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs, revealing that 534 drugs passed the basic insurance catalog review and 121 drug generic names passed the commercial insurance innovative drug catalog review [1] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug catalog, aiming for diversified payment methods for innovative drugs [1] Group 2 - The core breakthrough of the 2025 plan is the establishment of a "Basic Insurance + Commercial Insurance Innovative Drug" dual-track system, which aims to alleviate pressure on basic insurance funds while meeting multi-tiered demands [2] - The plan includes a new price negotiation mechanism and a team of commercial insurance experts, reflecting policy coordination for innovative drug development, although it also increases process complexity [2] - Overall, this represents a strategic shift in healthcare policy from "basic coverage" to "multi-tiered + innovative support," balancing accessibility and sustainability [2]

Market Overview - As of the close on the 18th, the Shanghai Composite Index rose by 0.5%, the Shenzhen Component Index increased by 0.37%, and the ChiNext Index gained 0.34%. The A-share market saw a trading volume of 1.59 trillion yuan, which is an increase compared to the previous day [1]. Hong Kong Market - In the Hong Kong market, the innovative drug sector showed mixed performance, while the computing power sector continued to strengthen. However, new economy stocks like Pop Mart continued to adjust. The Hang Seng Index and the Hang Seng Tech Index both rose by over 1% due to the uplift from heavyweight stocks [2]. Rare Earth Permanent Magnet Sector - On July 18, the rare earth permanent magnet sector saw renewed strength, with stocks like China Northern Rare Earth Group and Baotou Steel rising significantly. This surge was driven by the discovery of a new rare earth mineral, "Huanghoite-(Nd)", which was approved by the International Mineralogical Association. This mineral was found in the Bayan Obo deposit, the world's largest rare earth deposit, which has previously yielded over 210 mineral types. The discovery highlights the complexity and resource diversity of the deposit, and it is expected to provide new avenues for the independent development and utilization of neodymium resources, which are in high demand in sectors like electric vehicles and wind power [4]. Lithium Sector - The lithium sector experienced a significant surge, with stocks like Jinyuan Co. and Shengxin Lithium Energy hitting the daily limit. The price of lithium carbonate futures has rebounded sharply, rising from around 58,000 yuan to approximately 70,000 yuan, marking an increase of over 20%. Recent developments include regulatory actions regarding lithium resource mining, which are expected to impact supply dynamics. Analysts suggest that the current market sentiment is influenced by various factors, including policy changes and inventory levels, although concerns about resource availability persist [6]. Innovative Drug Sector - The innovative drug sector has been actively performing, with stocks like Angli Kang hitting the daily limit and reaching new historical highs. The Hong Kong market also saw significant gains in this sector, with companies like Lepu Biopharma and Akeso rising by over 20% and 10%, respectively. The National Healthcare Security Administration recently announced a new dual-track system for innovative drugs, which aims to alleviate pressure on basic medical insurance funds while meeting diverse healthcare needs [8][9].