Core Viewpoint - The Hong Kong Stock Connect Pharmaceutical ETF (513200) experienced a decline of 1.97% on November 7, with a trading volume of 191 million yuan, indicating a downward trend in the pharmaceutical sector [1] Group 1: Fund Performance - The ETF's total shares increased by 4 million, bringing the latest total to 1.813 billion shares, with a notable increase of 38 million shares over the past 20 trading days [1] - The latest net asset value of the ETF is calculated at 2.057 billion yuan [1] - Since its inception on January 19, 2022, the ETF has returned 13.45%, while its return over the past month has been -13.15% [1] Group 2: Management and Benchmark - The ETF is managed by E Fund Management Co., Ltd., with Wu Chendong as the fund manager [1] - The performance benchmark for the ETF is the CSI Hong Kong Stock Connect Pharmaceutical and Healthcare Composite Index return rate, adjusted using the valuation exchange rate [1]

Core Viewpoint - The pharmaceutical and healthcare indices in the Chinese stock market have shown positive performance, with significant inflows into innovative drug ETFs, indicating a growing interest in the sector [1][2]. Group 1: Index Performance - The CSI 300 Pharmaceutical and Healthcare Index increased by 1.2% [1]. - The CSI Hong Kong Stock Connect Pharmaceutical and Healthcare Comprehensive Index rose by 1.1% [1]. - The Hang Seng Hong Kong Stock Connect Innovative Drug Index and the CSI Biotechnology Theme Index both saw a rise of 0.7% [1]. - The CSI Innovative Drug Industry Index experienced a slight increase of 0.01% [1]. Group 2: ETF Activity - The Hang Seng Innovative Drug ETF (159316) recorded a net subscription of 11 million units in the first half of the day, bringing its total size to over 1.5 billion yuan, a historical high [1]. - The index tracked by the Hang Seng Innovative Drug ETF focuses on leading innovative drug companies in the Hong Kong stock market, comprising no more than 40 stocks involved in innovative drug research, development, and production [2]. - The rolling price-to-earnings ratio for the Hang Seng Innovative Drug Index is currently at 56.2 times [2]. Group 3: Valuation Metrics - The rolling price-to-earnings ratio for the CSI Hong Kong Stock Connect Pharmaceutical and Healthcare Comprehensive Index stands at 30.4 times, with a valuation percentile of 48.1% since 2017 [2]. - The rolling price-to-earnings ratio for the CSI Innovative Drug Industry Index is not specified, but it focuses on A-share innovative drug leaders, comprising no more than 50 stocks involved in innovative drug research and development [2].