Core Viewpoint - The core investment theme for the pharmaceutical and biotechnology industry in 2025 is the internationalization of innovative drugs, with significant transactions boosting market confidence and new drug licensing revenues becoming a crucial funding source for sustainable corporate development [1] Group 1: Pharmaceutical and Biotechnology Industry - The internationalization of innovative drugs is expected to enhance corporate valuations, with China making continuous advancements in dual antibodies and ADCs, while also achieving breakthroughs in emerging technologies like small nucleic acids and inhalation formulations [1] - The proportion of overseas revenue in corporate value is anticipated to increase, as companies leverage their strengths in these areas [1] - The medical device sector is transitioning from low-value consumables to high-value consumables, overcoming certification and sales barriers, with high-value exports growing rapidly and the European and American markets becoming significant sources of incremental growth [1] Group 2: Market Dynamics - The impact of domestic centralized procurement is gradually being digested, leading to increased replacement opportunities, and the overall performance of the industry is expected to recover [1] - Domestic demand-driven segments, such as chain pharmacies and CROs, are undergoing a cleansing cycle, with leading companies gradually resuming growth [1] - The push for innovation and internationalization is driving the industry from low-level competition to source innovation, although structural opportunities should be monitored, as only truly innovative companies can share in the global market dividends [1] Group 3: Investment Instruments - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects listed companies in the medical device, medical services, and medical information sectors from the Shanghai and Shenzhen markets to reflect the overall performance of related securities in China's medical industry [1]

针对上述提问，国际医学回应称："您好，感谢您对公司的关注。西安国际康复医学中心有限公司为西 安圣心医疗管理有限公司全资子公司，公司持有西安圣心医疗管理有限公司55%的股权。根据公司已披 露的《2024年度报告》，2024年西安圣心医疗管理有限公司实现营业收入5,774.21万元。谢谢！" 来源：市场资讯 有投资者在互动平台向国际医学提问："请问贵公司康复医学的股权结构是怎样的？康复医学在那个院 区？康复医学现在的营收占比是多少？设计床位是多少？使用量占比多少？" 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 ...

Group 1 - The core viewpoint of the article highlights that the pharmaceutical and biotechnology industry is undergoing structural transformation, with the medical device sector expected to enter a new growth cycle by 2026 due to policy optimization and increased bidding activity [1] - The innovative drug sector is entering a "great era," with expectations that it will dominate the industry by 2026, as the combination of medical insurance and commercial insurance opens up payment space [1] - The medical service consumption sector is benefiting from policy optimization and upgraded demand, with specialized hospitals and chain pharmacies showing competitive advantages [1] Group 2 - The medical device sector is experiencing a trend of "policy clearance - innovation breakthrough - overseas expansion," with technologies like AI and brain-machine interfaces driving growth in high-end equipment exports [1] - The pharmacy industry has shifted from rapid expansion to quality optimization, with leading companies consolidating their positions through diversified operations [1] - Overall, the industry is entering a new phase driven by policy clearance and technological innovation, although attention is needed on risks such as centralized procurement and research failures [1] Group 3 - The vaccine ETF (159643) tracks the vaccine biotechnology index (980015), which selects listed companies involved in vaccine research, production, sales, and related biotechnology businesses to reflect the overall performance of the vaccine and biotechnology industry [1] - The index focuses on cutting-edge bioscience, covering vaccine companies with innovative technological capabilities and industrial advantages, effectively reflecting industry technological development trends and market dynamics [1]

A股市场板块涨跌幅排行 中国经济网北京1月5日讯 A股三大指数早盘集体上涨，截至午间收盘，上证指数报4011.45点，涨幅 1.07%；深证成指报13777.32点，涨幅1.87%；创业板指报3272.07点，涨幅2.15%。 行业板块方面，保险、医疗器械、医疗服务等板块涨幅居前，机场航运、旅游及酒店、电机等板块跌 幅居前。 (责任编辑：魏京婷) | 序号 | 板块 | 涨跌幅(%)▼ | | 总成交量（万手） | 净流入 (亿元) ▼ | 上涨家数 | 卜跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 保险 | 5.84 | 243.02 | 109.15 | 20.26 | 5 | 0 | | 2 | 医疗器械 | 5.32 | 910.63 | 216.54 | 35.69 | 130 | 3 | | 3 | 医疗服务 | 5.31 | 686.29 | 158.50 | 22.40 | 51 | വ | | র্ব | # # | 3.70 | 1784.37 | 1391.55 | 158.56 | 163 | 7 | | ...

"打开微信小程序，选择就诊科室，上传既往病历或诊断书，等待医生看诊，还可以向医生发送图片或 视频问诊，医生开好电子处方，药品可以直接寄到家里，省去了来回奔波的麻烦。"近日，记者在旗人 民医院门诊楼大厅看到，医护人员正在向前来看诊的居民讲解手机线上诊疗流程，这样的场景，如今已 成为服务患者的新常态。 作为依托实体医院搭建的线上诊疗平台，该旗人民医院互联网医院整合了医院信息、电子病例等多套核 心系统，实现了医疗信息的无缝共享与互联互通，让医生在电脑端和移动端均可随时查阅患者病历、检 验检查结果，为精准诊疗提供了坚实的数据支撑。 中新网内蒙古新闻1月4日电 （李爱平朱智冬贺宁）看病远、买药难，对于不方便到医院就诊的人来 说，曾经是个难题。找专家、复诊开药，往往意味着一次长途奔波。如今，这个难题正在被一部小小的 手机破解。 该旗人民医院信息科主任高永华表示：鄂托克旗人民医院互联网医院主要是针对慢性病患者、不方便来 医院开药取药的人，可以在互联网医院上进行问诊、复诊，并且可以把药品开具到医院的药房，药房取 药后可以邮寄到家，不需要到医院购药。 自2024年3月小程序正式上线以来，鄂托克旗人民医院互联网医院以"数据多跑路 ...

Core Viewpoint - The medical sector is experiencing a strong performance, with the largest medical ETF (512170) showing significant gains, driven by positive market sentiment and news regarding Neuralink's plans for large-scale production of brain-computer interface devices starting in 2026 [1][3]. Group 1: Market Performance - On January 5, 2026, the medical ETF (512170) opened high and rose over 4%, potentially marking the largest single-day gain in nearly three months, with real-time transactions exceeding 650 million yuan [1]. - All 50 constituent stocks of the medical ETF saw increases, with notable surges in brain-computer interface stocks, including Sanbo Brain Science, Meihua Medical, and Lepu Medical, which hit the daily limit of 20% [1]. - The CXO sector also performed strongly, with Zhaoyan New Drug reaching the daily limit and WuXi AppTec increasing by nearly 6% [1]. Group 2: Fund and Index Details - The medical ETF (512170) has a total scale exceeding 25.259 billion yuan, making it the largest medical and healthcare ETF in the market, serving as a significant industry benchmark [3]. - The ETF focuses on "medical devices + medical services," with a CXO weight exceeding 26%, and includes leading companies in aesthetic medicine, private hospitals, and medical information technology [3]. - The current price-to-earnings ratio of the underlying index for the medical ETF is 32 times, which is lower than over 70% of the time in the past decade, indicating a favorable cost-performance ratio for investors [1].

Core Viewpoint - The Guangdong Provincial Government has issued implementation opinions to promote high-quality development of digital trade and service trade through high-level openness, focusing on relaxing market access in the service trade sector [1] Group 1: Market Access and Open Policies - The implementation opinions propose to relax market access in the service trade sector [1] - The plan includes deepening the comprehensive pilot for expanding service industry openness in Guangzhou and expanding foreign investment access in Shenzhen's value-added telecommunications services [1] - Support is provided for Shenzhen to conduct a new round of comprehensive pilot projects for expanding service industry openness [1] Group 2: Foreign Investment and Sectoral Focus - The policy aims to accelerate the implementation of foreign investment access and operational policies in sectors such as healthcare, elderly care, tourism, telecommunications, and culture [1] - There is encouragement for foreign investors to establish both profit-making and non-profit elderly care institutions in Guangdong [1] - The plan supports the expansion of pilot projects in biotechnology within the Nansha, Qianhai, and Hengqin free trade zones [1] Group 3: Educational and Collaborative Initiatives - The implementation opinions emphasize strengthening cooperation between domestic and foreign universities, as well as the establishment of schools for foreign personnel's children and schools for Hong Kong and Macau students [1]

A股2026年首个交易日，三大股指集合竞价集体高开，上证指数高开0.46%，深证成指高开0.8%，创业板指高开0.84%。截至发稿时，上证指数上涨 0.66%，深证成指上涨1.32%，创业板指上涨1.49%。 | NYMEX WTI原油 | ICE布油 | ICE轻质低硫原油 | | --- | --- | --- | | 57.48 | 60.98 | 57.00 | | +0.16 +0.28% | +0.23 +0.38% | -0.01 -0.02% | | INE原油 | INE低硫燃料油 | NYMEX天然气 | | 429.4 | 2932 | 3.459 | | -7.1 -1.63% | -24 -0.81% | -0.159 -4.39% | 三是科技股走强，半导体产业链和消费电子概念领涨，AI应用主线表现活跃。具体来看，半导体产业链中，存储芯片板块大涨，香农芯创（300475）、 江波龙（301308）等个股大涨。 盘面上，市场主要有以下几条主线走强： 一是新兴产业类主题赛道。脑机接口板块早盘大涨，倍益康、三博脑科（301293）等个股大涨。商业航天、可控核聚变等板块上涨。 消息面上，埃 ...

"这项政策对于我们这些在乐城内注册的医疗机构来说可谓是'锦上添花'，不仅可以减轻患者用药 用械成本，也为我们企业资金周转提供了很大的便利。"海南博鳌超级医院相关负责人冯家龙说。 为保障"零关税"药械政策实施，海口海关积极研究优化通关流程，深入走访调研了解不同类型企业 享惠政策的堵点痛点，研究解决措施，让政策红利精准触及享惠主体。下一步，海口海关将继续优化监 管服务，引导企业用好用足政策，进一步推动"零关税"药械政策红利释放，助力乐城先行区打造全球优 质医疗资源集聚高地。 海南自贸港药品、医疗器械"零关税"政策落地一周年 累计减免税款超6000万元 海南日报海口1月4日讯(海南日报全媒体记者 曹马志 通讯员 刘一鸣)1月4日，记者从海口海关获 悉，自2024年年底首票业务落地以来，海南自贸港药品、医疗器械"零关税"政策已平稳运行一周年，政 策红利持续释放。截至目前，累计进口"零关税"药械货值约4.6亿元，减免税款约6200万元。 海南自贸港药品、医疗器械"零关税"政策明确，在博鳌乐城国际医疗旅游先行区内注册登记具有独 立法人资格并经认定的医疗机构、医学教育高等院校、医疗类科研院所，进口政策规定范围内的药品、 医 ...

南方财经 21世纪经济报道特约撰稿王应贵娄世艳 2025年的美国股市如同一部跌宕起伏的金融大片。这一年，美国政府交接带来的政策不确定性、所谓 的"对等关税"形成的政策冲击、人工智能投资热潮、中美经贸会谈、美国联邦政府停摆、美联储三次降 息、就业市场降温以及股票估值忧虑等因素交织，导致市场出现大幅波动。 尽管面临诸多挑战，但美国三大股票指数最终表现良好。继2023年涨24.23%和2024年涨23.31%之后， 2025年标准普尔500指数上涨16.39%；以蓝筹股为主的道琼斯30种工业股票平均指数涨12.97%，以科技 股为主的纳斯达克指数涨20.36%。 在其他市场，2025年12月31日的收盘价如下：十年期美国国债收益率收于4.179%；2026年2月黄金期货 收于4324.20美元/盎司；得克萨斯西部轻质油收于57.45美元/桶；美元指数收于97.98点；比特币现货收 于87878美元/枚。复盘2025年的市场影响因素，是判断2026年走势的至关重要的一步。这些深层次因素 在新的一年里仍将深刻影响市场格局。 2025年美股：行业分化相当明显 美联储三次降低联邦基金利率，中长期利率却居高不下，迫使美国财政 ...