Group 1 - The pharmaceutical industry is experiencing significant developments, particularly in Alzheimer's disease treatments, with Eli Lilly's drug showing a three-year delay in cognitive decline, prompting increased interest from domestic companies and investors [1] - Domestic companies such as Fosun Pharma and Kangzheng Pharmaceutical are pursuing innovative treatments, including small molecule oral drugs and acetylcholinesterase inhibitors, to fill the market gap in China, which has over 13 million Alzheimer's patients [1] - Thirteen companies have been heavily researched by institutions, with notable advancements in drug candidates like Maiwei Biotech's Nectin-4 ADC for urothelial carcinoma and Baiji Shenzhou's Zebutine expanding into international markets [1] Group 2 - Recent national policies, including the National Medical Insurance Bureau's instant settlement, have reduced the cash flow pressure on pharmaceutical companies, shortening the payment cycle from three months to 20 days [2] - Companies like Hengrui Medicine and Rongchang Biotech are making significant strides in international markets, with Hengrui's GLP-1 dual-target drug being licensed for $6 billion and Rongchang's ADC drug outperforming Merck [2] - Long-term investors are encouraged to focus on companies with strong technological platforms and track clinical progress, particularly phase III data, as these factors are crucial for drug approval and market success [2]