AI基金东吴医疗服务股票A（013940）披露2025年二季报，第二季度基金利润809.49万元，加权平均基金份额本期利润0.106元。报告期内，基金净值增长率 为18.12%，截至二季度末，基金规模为5252.2万元。 该基金属于标准股票型基金，长期投资于医药医疗股票。截至7月18日，单位净值为0.822元。基金经理是毛可君，目前管理2只基金近一年均为正收益。其 中，截至7月18日，东吴医疗服务股票A近一年复权单位净值增长率最高，达75.56%；东吴智慧医疗量化混合A最低，为46.48%。 基金管理人在二季报中表示，二季度，创新药引领医药行业呈现较好表现。尽管四月初国际贸易影响引发市场大幅波动，但创新药板块迅速回升，市场的快 速纠正体现了对创新药产业趋势的认可与信心。国内药企和海外跨国大药企MNC的大额BD交易事件频频落地与未来的交易常态化预期，实质上集中反映了 我国创新药产业在多年累积与发展后的创新能力和技术竞争力，我国低成本高效率的真创新药资产有望未来得以持续重估。 本轮创新药行情是由明确的产业趋势驱动，中国创新药才刚刚开始真正参与欧美医药市场的商业价值分配，未来产业逻辑与业绩兑现的时间与空间可能都相 ...

AI基金中海医疗保健主题股票A（399011）披露2025年二季报，第二季度基金利润332.7万元，加权平均基金份额本期利润0.007元。报告期内，基金净值增 长率为0.56%，截至二季度末，基金规模为4.93亿元。 该基金属于标准股票型基金，长期投资于医药医疗股票。截至7月18日，单位净值为1.15元。基金经理是梁静静，目前管理2只基金近一年均为正收益。其 中，截至7月18日，中海医药混合A近一年复权单位净值增长率最高，达31.62%；中海医疗保健主题股票A最低，为14.88%。 基金管理人在二季报中表示，投资方向上，聚焦创新药、创新医疗器械及消费升级驱动的医疗服务领域，挖掘成长潜力与估值水平相匹配的优质个股，同时 关注院内（药品、器械、设备等）复苏及场景消费医疗复苏相关个股。本基金坚持自下而上的选股策略，在持续持有优质资产的基础上，深入挖掘被错杀的 底部品种，通过均衡配置降低组合波动，力求为投资者带来长期稳定的收益回报。 截至7月18日，中海医疗保健主题股票A近三个月复权单位净值增长率为9.42%，位于同类可比基金51/54；近半年复权单位净值增长率为17.46%，位于同类 可比基金49/54；近一年复权 ...

中证 2000ETF 华夏（562660）紧密跟踪中证 2000 指数，该指数精选沪深两市 2000 只市值小、流 动性优的证券作为样本，呈现极致小盘风格，与大中盘指数形成互补。指数聚焦 "专精特新" 与民营实 体经济，机械设备、电子、医药生物等新兴产业占比高，成长潜力十足。前十大成分股权重占比不足 2%，风险分散优势显著。 截至2025年7月21日 10:18，中证2000指数（562660）上涨0.80%，成分股冠龙节能上涨20.00%，深 水规院上涨20.00%，安靠智电上涨19.99%，新余国科上涨15.58%，华自科技上涨14.20%。中证 2000ETF华夏（562660）上涨1.31%，最新价报1.47元。流动性方面，中证2000ETF华夏(562660)盘中换 手2.23%，成交518.24万元。规模方面，中证2000ETF华夏（562660）最新规模达2.31亿元，创近1年新 高。 消息面上，由上海电气上重铸锻有限公司承担的上海市高端智能装备首台突破专项《高温气冷堆核 岛主设备成套大锻件首台突破》项目，顺利通过上海市经信委专家组验收。该技术成功解决600兆瓦高 温气冷堆工程对主设备大锻件高性 ...

长江商报消息 六年砥砺奋进，六年春华秋实。在中国资本市场改革发展史上，科创板的设立无疑具有 里程碑意义。作为注册制改革的"试验田"，科创板六年来始终坚守"硬科技"定位，以7.35万亿元总市 值、1.12万亿元融资规模的亮眼成绩，交出了一份服务科技创新的精彩答卷。 当前，科创板改革进入深化期。长江商报特推出"科创板六年"专题策划，期待这片创新沃土继续以制度 创新激发市场活力，以资本力量赋能科技创新。 ●长江商报记者 徐佳 2019年7月22日，科创板鸣锣开市，中国资本市场注册制改革的"试验田"应运而生。 六年来，科创板以"硬科技"为底色，通过制度创新重塑资本市场生态。不仅培育了一大批具有核心技术 的"硬科技"创新企业，更推动了全市场注册制改革的落地，成为中国经济转型升级的重要引擎。 2019年7月22日，随着首批25家公司挂牌上市交易，科创板正式开市，成为中国资本市场首个试点注册 制的板块。 六年以来，从最初的资本市场改革"试验田"到如今的"硬科技"主阵地，科创板实现了规模与质量的同步 跃升。 根据上交所数据，截至7月18日收盘，科创板共受理了969家企业的首发上市申请，其中589家公司已经 在科创板上市，总股 ...

□本报记者 王宇露 上周市场上涨，中证新华社民族品牌工程指数上涨1.63%，报1706.67点。中际旭创、信立泰、科沃斯等 成分股上周表现强势；2025年以来，信立泰、药明康德、科沃斯等成分股涨幅居前。展望后市，机构认 为，基本可以确定上证指数已经站稳3500点，当前多头力量强劲，继续给予市场"积极"评价，结构上预 计资金高低切换特征延续，板块间或保持轮动。 多只成分股表现强势 展望后市，星石投资表示，短期看，基本可以确定上证指数已经站稳3500点，个股表现活跃，市场赚钱 效应增加，有望带动场外资金流入。在流动性较为充裕的背景下，资金交投情绪不弱，叠加市场可能会 提前博弈政策预期，当前多头力量强劲，继续给予股市"积极"评价。结构上看，当前个股估值表现仍存 在分化，预计资金高低切换特征或延续，板块间或保持轮动，各个板块均有机会。 中期视角下，参照历史经验，星石投资认为当前或处于新一轮牛市的开端。随着国内政策持续发力以稳 定经济增长，基本面的好转，尤其是内生动能的增强，将是后续股市进一步上涨的动能。基本面推动的 股价上涨将更加扎实、更具有持续性。 高信百诺投资表示，目前已进入上市公司业绩发布时间窗口，业绩对于个股 ...

Some believe that the president’s ill-defined pharma-tariff timeline is a sign he is not serious. For now, that seems like wishful thinking https://t.co/yxfYZVJ8fR ...

Core Viewpoint - President Trump's trade policies, particularly aggressive tariffs on imports, are impacting Wall Street and could increase costs for companies, affecting their margins and stock performance. However, certain healthcare companies like Eli Lilly and Novartis present investment opportunities despite these challenges [1][2]. Eli Lilly - Eli Lilly has committed to investing $50 billion in U.S.-based manufacturing since 2020, with half of this announced in the first quarter [4]. - The company aims to manufacture 100% of medicines for U.S. patients domestically, which will help mitigate the impact of tariffs [5]. - Eli Lilly has shown significant innovation in diabetes and obesity treatments, with new products like Mounjaro and Zepbound generating billions in revenue [5]. - In Q1, Eli Lilly's revenue rose 45% year over year to $12.7 billion, and net income increased by 23% to $2.8 billion [6]. - The company has a strong pipeline, including a promising oral GLP-1 candidate, orforglipron, which could attract patients seeking convenience [7]. - Eli Lilly has increased its dividend payout by 102.7% over the past five years, making it a solid choice for growth and income investors [8]. Novartis - Novartis plans to invest $23 billion over the next five years to enhance its U.S. manufacturing capabilities [9]. - Despite potential short-term impacts from tariffs, Novartis is expected to manage these challenges effectively [10]. - In Q1, Novartis reported a 12% increase in net sales to $13.2 billion and a 22% rise in net income to $4.5 billion [10]. - The company is facing a loss of U.S. patent exclusivity for its heart failure drug Entresto, which generated $2.3 billion in sales in Q1, a 20% increase year over year [11]. - Novartis has prepared for this loss with new medicines like Fabhalta and cancer drugs Scemblix and Pluvicto, which have shown promising sales [11][12]. - The company has increased its dividend for 28 consecutive years, currently offering a forward yield of 3.3%, which is significantly higher than the S&P 500 average [13].

前言 ①减速器+人形机器人+新能源汽车！这家公司精密减速器实现技术突破，终端客户包括智元机器 人、傅利叶等；②光模块+数据中心+算力！这家公司拟收购AI智算中心核心基础设施供应商；③创 新药+减肥药+医美+合成生物！公司创新药管线目前已经突破80项。 每周日至每周四推送明日股市重大公告。内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ...

Core Viewpoint - Merck is facing pressure on its stock due to reliance on Keytruda, which will face a patent cliff by the end of the decade, prompting the company to seek ways to mitigate competition risks [1][2]. Group 1: Recent Acquisitions and Product Pipeline - Merck announced the acquisition of Verona Pharma for $10 billion to expand its portfolio with Ohtuvayre, a promising COPD treatment [4]. - Ohtuvayre has potential peak sales estimated at around $4 billion, but it may not be sufficient to replace Keytruda's $29.5 billion sales from last year [5][7]. - Merck's acquisition of Acceleron Pharma for $11.5 billion led to the launch of Winrevair, projected to have peak sales of around $3 billion [6]. - In 2023, Merck invested $10.8 billion in Prometheus Biosciences for a candidate targeting ulcerative colitis, MK-7240, which could enhance its portfolio if it gains FDA approval [8]. Group 2: Internal Development and Future Prospects - Merck is developing a subcutaneous version of Keytruda, which has shown noninferiority in a phase 3 trial, potentially attracting significant business [9][10]. - The company has over 80 programs in its phase 2 and phase 3 pipeline, indicating a strong potential for new product launches [12]. - A 25% success rate on new clinical compounds could lead to several novel launches in the next five years, demonstrating Merck's capability to move beyond Keytruda [13]. Group 3: Financial Considerations - Merck's shares are currently trading at 9.3 times forward earnings estimates, significantly lower than the healthcare sector average of 16.2 [14]. - The company offers a solid dividend yield of around 4%, with an 88.8% increase in payouts over the past decade [14]. - Despite lagging the market over the past year, Merck's long-term prospects remain strong for investors willing to hold the stock [15].

Core Viewpoint - Pfizer offers a high dividend yield of 7.1%, significantly above the S&P 500's 1.3% and the average healthcare stock's 1.7%, but Merck may be a better choice for dividend investors due to its more stable dividend history [1][6][12] Group 1: Company Comparison - Pfizer and Merck have similar business models, focusing on research and development to create new blockbuster drugs, supported by strong marketing and distribution systems [2][4] - Both companies have a history of making large acquisitions to enhance their drug portfolios, but their current positioning may vary based on their respective drug pipelines [5][11] Group 2: Dividend History - Pfizer has a history of 15 consecutive dividend increases, but it previously cut its dividend during the Great Recession, while Merck maintained its dividend during the same period [6][8][9] - Merck's more consistent dividend growth, despite periods of stagnation, provides a level of trust for income investors that Pfizer's past cut does not [9][12] Group 3: Investment Considerations - Both Pfizer and Merck offer portfolios of already approved drugs, allowing investors to engage in the pharmaceutical sector without needing deep industry knowledge [10][11] - For dividend investors, the historical performance of dividends is crucial, making Merck a potentially safer investment compared to Pfizer [12]