Core Insights - Domestic innovative drugs are experiencing a surge in overseas collaborations, with over 50 global partnership agreements reached by mid-2025, totaling more than $48.4 billion [1] - The Hang Seng Hong Kong Stock Connect Innovative Drug Index has seen a year-to-date increase of 93.18% as of July 18, 2025, indicating strong investor interest in the sector [1] - Supportive measures for innovative drug development have been implemented, enhancing market accessibility and encouraging increased R&D investment from pharmaceutical companies [1] - The integration of AI technology in drug development is significantly reducing R&D cycles and costs, accelerating the internationalization of innovative drugs [1] Industry Performance - The innovative drug sector is becoming a key focus in the market, with notable performance from certain healthcare funds, such as Zhongyin Innovation Medical A and Zhongyin Hong Kong Stock Connect Medical A, which have increased by 63.64% and 84.18% respectively over the past year [2] - The total profit for the innovative drug sector is projected to grow from 60 billion yuan to 600-900 billion yuan over the next 10-15 years, highlighting its potential for future growth [2] Fund Performance - Zhongyin Hong Kong Stock Connect Medical A has shown a net value growth rate of 70.08% in the first half of 2025, outperforming its benchmark by 32.79% [3] - Zhongyin Innovation Medical A has achieved a net value growth rate of 54.08% in the first half of 2025, significantly exceeding its benchmark [4] - The performance of other funds managed by Zhongyin, such as Zhongyin Healthcare Mixed A and C, also reflects strong growth, with 51.59% and 51.31% increases respectively in the first half of 2025 [5]