2025年，党的二十届四中全会将生物制造列为"十五五"时期六大未来产业之一，明确其成为国家前瞻布 局的重要方向；国务院公布的《生物医学新技术临床研究和临床转化应用管理条例》亦将于2026年5月 正式施行，为产业发展筑牢政策保障。双重政策利好叠加下，我国医药产业正迎来从"跟随式创 新"向"系统性创新"的战略转型。在此背景下，政策与资源加速向源头创新聚焦，全链条制造能力成为 企业核心竞争力，AI与生物技术的深度融合更催生了产业发展新范式。 作为深耕医疗健康领域二十余年的塞力医疗（股票代码：603716.SH），正顺势加速战略转型，从传统 医疗供应链服务商向以"AI驱动"和"源头创新"为核心的智慧医疗解决方案提供商跨越，成为行业变革中 的重要探索者。 锚定精准诊断与创新治疗双主线 构建多元化产业布局 面对生物制造产业的历史性发展机遇，塞力医疗正推动从医疗服务提供商向"技术驱动型生物制造平 台"的战略跃迁。塞力医疗表示，"十五五"规划的战略导向为行业带来三大关键机遇：一是政策与资源 聚焦基因与细胞治疗、合成生物学等前沿领域，鼓励企业从"仿创结合"走向"原研引领"；二是全链条制 造能力成为核心竞争力，要求企业打通从实验 ...

Group 1 - The core viewpoint is that the integration of AI in healthcare and pharmaceuticals is gaining momentum, with significant stock price increases in related companies such as Meinian Health and Zhaoyan New Drug [1] - The Medical Equipment ETF (159873) has seen continuous capital inflow over the past four days, totaling 26.5 million yuan, reaching new highs in both scale and shares since its inception [2] - The Medical Equipment ETF has a high concentration in brain-computer interface technology, accounting for over 17%, with nearly 80% of its components from the Sci-Tech Innovation Board and the Growth Enterprise Market, indicating strong technological attributes [2] Group 2 - The Innovative Drug ETF Tianhong (517380) has experienced net inflows for six consecutive days, with a total of 254 million yuan in the last five days, reflecting strong investor interest [3] - The Innovative Drug ETF spans the Shanghai, Hong Kong, and Shenzhen markets, covering the entire industry chain from preclinical research to commercialization, which helps mitigate investment uncertainties [3] - OpenAI's launch of ChatGPTHealth marks the beginning of an AI-driven healthcare era, enhancing privacy through data isolation and involving over 260 doctors from 60 countries in model optimization [3]

2026年1月14日早盘，A股三大指数集体冲高，科创50指数日内涨幅一度扩大至4%。从板块上看，AI应 用、金融科技、算力题材活跃。 中原证券认为，进入1月份以来，市场交投再度活跃，两融余额同步攀升，增量资金入场迹象明确，为 行情延续提供支撑。国内无风险收益率持续下行，居民存款向权益市场"搬家"的趋势为市场提供了充裕 的流动性环境。人民币资产吸引力增强，共同推升了市场风险偏好。2025年12月CPI同比涨幅微幅扩 大，显示内需出现边际改善迹象。在量能有效放大、政策预期积极、产业催化不断的背景下，预计本轮 行情有望持续推进。 近期，人工智能与医疗的融合正迎来政策与技术的双重催化。中邮证券指出，"AI+医疗"行业有望在八 部门联合印发的《"人工智能+制造"专项行动实施意见》推动下加速发展，特别是在高端医疗装备、远 程医疗等场景的应用将显著受益。 规模方面，截至2026年1月13日，科创200ETF广发近3月规模增长1.29亿元，实现显著增长。份额方 面，科创200ETF广发近3月份额增长5100.00万份。 科创成长ETF(588110)盘中最高涨超3%，成分股艾迪药业上涨15.24%，海博思创上涨8.56%，上 ...

Group 1 - The three major indices experienced fluctuations and upward movement, with the pharmaceutical and biotechnology sector showing significant gains, particularly the medical device sector which rose by 1.14% [1] - Notable stocks included Tianzhihang-U, which surged over 15%, and Yingke Medical, which increased by more than 10%, along with several stocks reaching their daily limit [1] - The Medical Device ETF (159873) saw a substantial increase in trading volume, with over 26 million yuan in transactions and a turnover rate of 17%, marking it as the largest among its peers [1] Group 2 - The Medical Device ETF (159873) has recorded a net inflow of 26.5 million yuan over four consecutive days, leading its category with a net inflow rate exceeding 22% [1] - The ETF tracks the CSI All-Share Healthcare Equipment and Services Index, which has a significant focus on brain-computer interface concepts, accounting for over 19% of its composition [1] - The latest scale of the Medical Device ETF (159873) reached 152 million yuan, making it the largest in its category [1] Group 3 - The Tianhong Innovative Drug ETF (517380) is the only ETF in the market tracking the Hang Seng Hong Kong-Shenzhen Innovative Drug Selected 50 Index, covering the entire industry chain from preclinical research to commercialization [2] - Recent developments include a partnership between NVIDIA and Eli Lilly, where they plan to invest 1 billion USD over five years to establish a joint research lab in the San Francisco Bay Area, aimed at accelerating AI applications in the pharmaceutical industry [2] - The AI+Healthcare market is projected to exceed 100 billion USD, with significant advantages over traditional pharmaceutical research, creating a competitive edge through a closed-loop system of algorithms, data, and clinical scenarios [2]

1月14日，港股AI医疗概念股继续强势行情，其中，阿里健康大涨超13%领衔，月内累计升幅超46%， 医渡科技大涨超9%，微创机器人大涨8.9%，平安好医生涨超4%，医脉通、京东健康、固生堂跟涨。 消息上，市场分析认为，本轮行情核心驱动力在于产业趋势的明确确认。一方面，蚂蚁集团旗下的AI 健康助手"蚂蚁阿福"自发布后短期内月活用户突破3000万，单日提问量超千万，验证了健康AI赛道的巨 大需求和市场想象力。与此同时，继"蚂蚁阿福"后，OpenAI于1月8日正式推出健康功能"ChatGPT Health"，标志着全球顶尖AI公司一致看好并重仓健康AI赛道。 弗若斯特沙利文预测，我国"AI+医疗"市场规模预计从2023年的88亿元增至2033年的3157亿元，十年间 复合年增长率高达43.1%，市场空间快速增长。华福证券最新研报称，AI医疗行业在国家战略与市场需 求的共振下已迈入商业化落地的关键阶段。同时研报提到，AI应用端需求闭环，持续支撑AI产业可持 续大循环发展。 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 00241 | 阿里健康 | 7.42 ...

中邮证券发布研报称，2026年初政策支持与海外AI医疗公司高增长表现，共同催化"AI+医疗"产业机 遇。据预测，2030年全球市场规模有望达1553亿美元，中国将快速增长至168亿美元。AI在制药、医疗 影像、辅助诊疗等领域正步入成熟应用，推动产业链价值提升，医疗AI三类证审批加速进一步助力行 业持续扩张。 中邮证券主要观点如下： 政策及板块热点共振，"AI+医疗"有望迎来加速 政策面：2026年1月7日，国家工业和信息化部等八部门联合印发了《"人工智能+制造"专项行动实施意 见》提出要"推动智能装备迭代"，重点提及AI在高端医疗装备、远程医疗等场景应用，相关领域有望显 著受益于政策驱动。 "AI+医疗"市场有望超千亿美元，板块享受估值溢价 市场空间方面，"AI+医疗"行业人工智能解决方案的全球市场规模预计将由2022年的137亿美元增至 2030年的1553亿美元，CAGR为35.5%，中国市场至2030年有望达到168.3亿美元，行业存在爆发式增长 机会。在国内政策导向下，医疗AI三类证审批加速，截至2025年12月5日，累计已有207款人工智能医 疗器械获三类医疗器械注册证，其中，2025年以来新增获批 ...

弗若斯特沙利文预测，我国"AI+医疗"市场规模预计从2023年的88亿元增至2033年的3157亿元，十年间 复合年增长率高达43.1%，市场空间快速增长。华福证券最新研报称，AI医疗行业在国家战略与市场需 求的共振下已迈入商业化落地的关键阶段。同时研报提到，AI应用端需求闭环，持续支撑AI产业可持 续大循环发展。 | 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 00241 | 阿里健康 | 7.420 | 13.46% | | 02158 | 医渡科技 | 7.030 | 9.16% | | 02252 | 微创机器人-B | 28.460 | 8.54% | | 02228 | 晶泰控股 | 14.040 | 4.39% | | 01833 | 平安好医生 | 18.290 | 4.16% | | 02192 | 医脉通 | 13.990 | 3.94% | | 02315 | 百奥赛图-B | 44.200 | 3.37% | | 06618 | 京东健康 | 69.150 | 2.60% | | 02273 | 周牛堂 | 31.820 | ...

Core Viewpoint - The recent surge in Hong Kong's AI healthcare stocks is driven by a clear confirmation of industry trends, with significant growth in user engagement and market potential for AI applications in healthcare [1][3][6] Group 1: Stock Performance - Alibaba Health has seen a rise of over 15%, with a cumulative increase of over 49% in January [1][6] - Other notable performers include Yidu Tech (up over 9%), MicroPort (up over 8%), Ping An Good Doctor (up over 5%), and JD Health (up over 2%) [1][6] Group 2: Market Analysis - The launch of Ant Group's AI health assistant "Antifufu" has resulted in over 30 million monthly active users and over 10 million daily inquiries, indicating strong demand in the health AI sector [3][8] - OpenAI's introduction of "ChatGPT Health" further emphasizes the confidence of leading AI companies in the health AI market [3][8] Group 3: Market Forecast - Frost & Sullivan predicts that China's "AI + healthcare" market will grow from 8.8 billion yuan in 2023 to 315.7 billion yuan by 2033, with a compound annual growth rate of 43.1% over the next decade [3][8] - Huafu Securities reports that the AI healthcare industry is entering a critical phase of commercialization, supported by national strategies and market demand [3][8] Group 4: Industry Innovation - Huachuang Securities anticipates that advancements in AI model capabilities will lead to comprehensive integration of AI in the healthcare industry, driving technological innovation [3][8] - The reduction in computing costs is expected to accelerate investments in AI capabilities by leading companies in various healthcare segments, potentially leading to a period of robust industry growth [3][8]

行业相对指数表现（相对值） 强于大市 |维持 行业基本情况 | | 收盘点位 | 8787.25 | | --- | --- | --- | | 52 | 周最高 | 9323.49 | | 52 | 周最低 | 6790.4 | 2025-01 2025-03 2025-06 2025-08 2025-10 2026-01 -4% 0% 4% 8% 12% 16% 20% 24% 28% 32% 36% 医药生物 沪深300 资料来源：聚源，中邮证券研究所 证券研究报告：医药生物|点评报告 行业投资评级 l AI 在制药、辅助诊断、医疗服务等领域步入成熟阶段 在制药领域，凭借 AI 技术平台强大的数据分析和模型预测能力， 相关公司在分子设计和药物筛选方面能够大幅提升药物的研发效率 和成功率。AI 制药公司通过和大型药企合作共同推动管线进展，涉及 计算机、物理、化学、生物、临床等交叉领域，管线推进越靠后，价 值量显著增高。在影像/手术领域：AI 通过在医疗影像分析方向深度 学习，能够快速识别病灶，实现精准诊断；AI 亦能辅助术前及术中及 时规划，并提供综合解决方案。在辅助诊断领域，主要参与者为数据 驱动型平台 ...

开年不足半个月，ETF市场持续迎来重磅消息。1月13日，医药生物、电网、黄金股等相关ETF领涨。 就在前一个交易日，更有多只热门板块ETF涨停。市场热度攀升的同时，境内首家万亿级ETF基金公司 也在近日诞生——截至1月12日，华夏基金旗下ETF总规模已突破1万亿元。回顾近年来，随着ETF规模 快速增长，并在2025年末首破6万亿元，分红也成为其"重头戏"。近日，华泰柏瑞沪深300ETF拟进行 2026年首次分红，"红包"总额约110亿元，再度刷新国内公募单次分红纪录。 大事件的多点开花绝非偶然，背后是ETF工具化属性日益凸显、投资者积极布局的结构性趋势。伴随着 产品创新、生态完善，在市场各路资金的热捧下，ETF已然成为资产配置的重要载体。 | 序号 | 草金公司 | | | J ETF 非货币ETF(概念类) | | --- | --- | --- | --- | --- | | 1 | 华夏基金管理有限公司 | => | 10.166.82 | 10.165.88 | | 2 | 易方达其余管理有限公司 | => | 9.248.20 | 9.232.31 | | 3 | 华泰柏瑞基金管理有限公司 | => ...