本报讯(记者刘钊)《证券日报》记者从中康数字科技有限公司(以下简称"中康科技")了解到，近日，中 康科技正式发布"天宫一号健康产业AI应用能力中枢"，标志着健康产业智能化转型迈入全新阶段。 作为连接医药全产业链的智能基础设施，该中枢以其核心引擎——"卓睦鸟医疗大模型"在权威医疗AI评 测平台MedBench(由上海人工智能实验室与上海市数字医学创新中心联合推出的医疗大模型的评测平 台)的"医学语言理解"单项评测中摘得桂冠，充分彰显了其在医药AI领域的绝对领先地位。这一突破性 进展，不仅获得了国家级权威平台的认可，更预示着AI将以前所未有的深度和广度赋能医药行业，为 药企营销、研发、生产、流通等全链路带来革命性变革，成为推动健康产业向更智能、更高效、更普惠 方向发展的核心引擎。 从组织协同来看，企业增长工作台针对药企多部门协同难题，"企业增长工作台"预置100+智能体，覆盖 医药营销全链路，实现部门效能倍增。市场部能够基于真实的医生诊疗思路和患者需求数据，精准描绘 患者画像，策略精准度大幅度提升；销售部通过智能话术库，转化率显著提升；准入部在医保政策分析 和申报材料准备上，也可缩短周期。这种"单点突破×协同进化 ...

近日，中康科技（中康控股，02361.HK）正式发布"天宫一号健康产业AI应用能力中枢"，标志着健康 产业智能化转型迈入全新阶段。作为连接医药全产业链的智能基础设施，该中枢以其核心引擎——"卓 睦鸟医疗大模型"在权威医疗AI评测平台MedBench（由上海人工智能实验室与上海市数字医学创新中心 联合推出的医疗大模型的评测平台）的"医学语言理解"单项评测中摘得桂冠，位列榜首，充分彰显了其 在医药AI领域的绝对领先地位。这一突破性进展，不仅获得了国家级权威平台的认可，更预示着AI将 以前所未有的深度和广度赋能医药行业，为药企营销、研发、生产、流通等全链路带来革命性变革，成 为推动健康产业向更智能、更高效、更普惠方向发展的核心引擎。 组织协同进化：企业增长工作台针对药企多部门协同难题，"企业增长工作台"预置100+智能体，覆盖医 药营销全链路，实现部门效能倍增。市场部能够基于真实的医生诊疗思路和患者需求数据，精准描绘患 者画像，策略精准度大幅度提升；销售部通过智能话术库，转化率显著提升；准入部在医保政策分析和 申报材料准备上，也可缩短周期。这种"单点突破×协同进化"的模式，有效打破了部门壁垒，构建了竞 争力乘数增长 ...

Core Insights - The pharmaceutical sector is expected to recover from 2025 onwards, following a four-year adjustment period, with a cumulative increase of 4.57% in the pharmaceutical and biological industry as of May 30, 2025 [1][2] - The report suggests focusing on innovative drug companies with solid R&D foundations and competitive products for international markets, as well as traditional pharmaceutical companies with reasonable valuations [1] - AI is anticipated to empower the entire pharmaceutical supply chain, enhancing efficiency in drug development, production, and medical services [2] Group 1: Market Recovery - The pharmaceutical sector has experienced a recovery since 2025, ranking 6th among 31 primary industries in terms of performance, with a cumulative increase of 4.57% [1] - The holding of pharmaceutical stocks has increased but remains at historically low levels [1] - Multiple sub-sectors within the pharmaceutical industry are showing signs of stabilization and upward trends [1] Group 2: Growth Opportunities - Incremental opportunities are expected from innovative drugs and AI, while structural opportunities may arise from the recovery of left-side assets and valuation adjustments [2] - 2025 is projected to be a significant year for domestic innovative drugs entering international markets, with many companies transitioning from generic to innovative drugs since the "4+7" procurement policy in 2018 [2] - Some pioneering innovative drug companies are anticipated to reach breakeven and turn profitable [2] Group 3: Left-Side Assets - Left-side assets are entering a mild recovery phase, with traditional pharmaceutical companies, CXO, and consumer healthcare sectors gradually clearing existing risks [2] - The industry is expected to see a fundamental recovery as the risks associated with previous procurement policies and demand issues diminish [2]

Market Performance - As of May 7, 2025, the Hang Seng Healthcare Index (HSHCI) decreased by 3.02%, with mixed performance among constituent stocks [3] - Leading gainers included Yuan Da Pharmaceutical (00512) up 12.52%, Shanghai Pharmaceuticals (02607) up 2.23%, and China Traditional Chinese Medicine (00570) up 1.96% [3] - Major decliners were Sangfor Technologies (01530) down 8.40%, Ascentage Pharma-B (06855) down 8.13%, and BeiGene (06160) down 7.70% [3] - The Hang Seng Healthcare ETF (513060) fell by 2.65%, closing at 0.48 yuan, with an active trading volume of 1.096 billion yuan [3] Investment Insights - Dongfang Securities noted that the continuous release of diagnostic and treatment demand, along with the commercialization of domestic innovative products, is leading to marginal improvements in certain sectors [3] - The firm believes that the upcoming quarters will see confirmed industry growth due to supply-side innovations driving rapid demand growth, suggesting that now is an excellent time to allocate resources to the healthcare sector [3] Future Investment Trends - Guolian Minsheng Securities anticipates that overseas expansion of innovative drugs, AI integration, and left-side asset valuation recovery will be key investment themes in the pharmaceutical sector for 2025 [4] - Recommendations include traditional pharmaceutical companies with manageable risks and reasonable valuations, as well as innovative drug companies with strong R&D foundations and competitive products for overseas markets [4] ETF Performance Metrics - As of May 6, 2025, the Hang Seng Healthcare ETF has seen a 28.71% increase in net value over the past year [5] - The ETF's highest monthly return since inception was 28.34%, with an average monthly return of 6.79% [5] - The ETF's management fee is 0.50%, and the tracking error is 0.041%, indicating high tracking precision compared to similar funds [5] Top Holdings - The top ten weighted stocks in the Hang Seng Healthcare Index account for 57.17% of the index, with major players including BeiGene (06160) and WuXi Biologics (02269) [6][8]