资金近期持续流入中药板块，中药ETF(159647)今日净申购350万份，连续23天获净流入。 消息面上，2025年一季度，中药行业营收同比下降8%，利润同比下降4%。二季度营收同比下降2%，利 润同比增长7%。虽然收入端仍有下滑，但降幅已明显收窄，利润端表现优于收入端，显示出一定的韧 性。 截至2025年10月21日 15:00，中证中药指数(930641)上涨0.21%，成分股华神科技(000790)上涨3.64%， 粤万年青(301111)上涨2.66%，太龙药业(600222)上涨2.48%，以岭药业(002603)上涨2.05%，陇神戎发 (300534)上涨2.01%。中药ETF(159647)上涨0.10%，最新价报1.01元，今日净申购350万份，连续23天获 净流入。 机构认为，当下关注四大核心因素： 中药ETF紧密跟踪中证中药指数，中证中药指数选取涉及中药生产与销售等业务的上市公司证券作为样 本，以反映中药概念类上市公司的整体表现。 1、政策端：中成药集采与基药目录调整 集采：已推进三轮，第三轮平均降幅63%，但对上市公司大品种影响有限； 基药目录：上一版为2018年发布，已超6年未更新， ...

二、资金加减仓方向 具体到细分板块，宽基&策略板块ETF中，净流入前三大板块依次为：策略-红利、科创200、科创50；净流出前三大板块依次为：中证A500、创业板、中证 500。 行业&主题板块ETF中，净流入前五大板块依次为：非银金融、银行、半导体芯片、稀土、有色金属；净流出前五大板块依次为：通信、化工、泛医药、消 费电子、金融科技。 | | | 当周净流入前五及后五的行业&主题板块 | | | | | --- | --- | --- | --- | --- | --- | | 板块 | | 本周流入资金 本周规模变动 | 本年流入资金 | 本年规模变动 | 其余规模 | | 非银金融 | 88.33 | 30.97 | 1.034.44 | 1,099.74 | 2.031.07 | | 银行 | 83.58 | 99.89 | 206.58 | 221.89 | 395.50 | | 未合体芯片 | 68.92 | -44.57 | 6.87 | 436.24 | 1.550.33 | | 稀土 | 49.88 | 44.64 | 115.79 | 148.61 | 179.18 | | 有色金属 | ...

估值层面:历史14%左右分位点。 企业库存:常规的中成药库存基本上已经进入正常通道，至少在发货端来看Q3-Q4没有特别大的压力。 中药OTC需求层面：大部分刚需品种相对保持正增长，甚至有双位数增长。 今年四季度或者明年，可以期待基药目录落地，上一版18版基药目录对录入品种后续几年至少有 20%~30%的增速带动。总体来看，国家基药目录调整在暂停数年后已提上日程。对于中药行业，这既 是重要的政策变量，也是推动优质品种放量的关键机遇。 消息面上，国家卫健委已在2024年下半年和2025年多次答复中表示，《国家基本药物目录管理办法（修 订稿）》 已形成，正在广泛征求意见，为目录的科学调整奠定基础。2025年全国药政工作会议也明确 将"巩固完善国家基本药物制度"列为年度重点。 截至2025年10月16日 15:00，中证中药指数(930641)上涨0.72%，成分股以岭药业(002603)上涨5.20%， 康缘药业(600557)上涨4.38%，达仁堂(600329)上涨4.34%，马应龙(600993)上涨2.36%，贵州三力 (603439)上涨1.76%。中药ETF(159647)上涨0.79%，最新价报1.0 ...

截至2025年10月16日 10:27，中证中药指数(930641)上涨0.61%，成分股达仁堂(600329)上涨4.09%，以 岭药业(002603)上涨3.22%，贵州三力(603439)上涨2.24%，方盛制药(603998)上涨1.95%，盘龙药业 (002864)上涨1.84%。中药ETF(159647)上涨0.69%， 最新价报1.02元，盘中净申购1350万份，冲刺连续 20日净申购。 消息面上，国家药监局近日发布《国家药监局 国家卫生健康委 国家中医药局关于进一步推进药品上市 许可持有人加快开展中药注射剂上市后研究和评价工作的公告（征求意见稿）》，向社会公开征求意 见。征求意见稿明确，将通过主动开展与责令开展相结合的方式，推进药品上市许可持有人加快开展中 药注射剂上市后研究和评价，最终实现"主动评价一批、责令评价一批、依法淘汰一批"的目标。 数据显示，截至2025年9月30日，中证中药指数(930641)前十大权重股分别为云南白药(000538)、片仔癀 (600436)、同仁堂(600085)、东阿阿胶(000423)、吉林敖东(000623)、华润三九(000999)、白云山 (6003 ...

数据显示，截至2025年7月31日，中证中药指数(930641)前十大权重股分别为云南白药(000538)、片仔癀 (600436)、同仁堂(600085)、东阿阿胶(000423)、华润三九(000999)、白云山(600332)、吉林敖东 (000623)、众生药业(002317)、以岭药业(002603)、佐力药业(300181)，前十大权重股合计占比54.58%。 中药ETF(159647)，场外联接A：016891；联接C：016892；联接I：022881。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 截至2025年8月18日 09:54，中证中药指数(930641)强势上涨1.62%，成分股天士力(600535)上涨8.03%， 新天药业(002873)上涨7.01%，达仁堂(600329)上涨6.07%，众生药业(002317)，康缘药业(600557)等个股 跟涨。中药ETF(159647)上涨1.53%，最新价报1.06元。 东吴证券指出，创新药产业已现拐点：现阶段的中国创新药在政策和研发两端都完成了厚积薄发。政策 端，《全链条支持创新药发展实施方案》在支付端、 ...

Group 1 - The Chinese medicine ETF (159647) has seen a continuous inflow of funds, totaling 30.03 million yuan over the past five days, with a net inflow of 22.14 million yuan since August [1] - The China Traditional Chinese Medicine Index (930641) has increased by 0.77%, with notable gains from companies such as Kang En Bei (600572) up 5.41% and Zhong Sheng Pharmaceutical (002317) up 4.80% [1] - The release of the "Chinese Atrial Fibrillation Management Guidelines (2025)" recommends the use of Tongluo drugs, specifically the Shen Song Yang Xin capsule, for maintaining sinus rhythm in paroxysmal atrial fibrillation [1] Group 2 - Jiang Hai Securities highlights that the labeling of expiration dates on traditional Chinese medicine pieces enhances product transparency, boosting consumer confidence and potentially expanding the market [2] - The top ten weighted stocks in the China Traditional Chinese Medicine Index account for 54.58% of the index, with major companies including Yunnan Baiyao (000538) and Tong Ren Tang (600085) [2] - The Chinese medicine ETF closely tracks the China Traditional Chinese Medicine Index, which reflects the overall performance of listed companies involved in the production and sale of traditional Chinese medicine [2]

Group 1 - The core viewpoint of the news is the strong performance of the Traditional Chinese Medicine (TCM) sector, highlighted by the rise of the Zhongzheng TCM Index and its constituent stocks, driven by new regulations on the labeling of TCM decoction pieces [1][2] - As of July 30, 2025, the Zhongzheng TCM Index increased by 1.80%, with notable gains from stocks such as Da Ren Tang (up 4.85%), Yunnan Baiyao (up 3.31%), and Dong'e Ejiao (up 3.10%) [1] - The new labeling regulations for TCM decoction pieces, effective from August 1, 2025, require detailed information on product attributes, including shelf life, which is expected to impact the market positively [1] Group 2 - The Zhongzheng TCM Index (930641) includes companies involved in the production and sales of TCM, reflecting the overall performance of TCM-related listed companies [2] - As of June 30, 2025, the top ten weighted stocks in the Zhongzheng TCM Index accounted for 55.96% of the index, with key players including Pian Zai Huang, Yunnan Baiyao, and Tong Ren Tang [2] - The TCM ETF (159647) closely tracks the Zhongzheng TCM Index, indicating a strong correlation between the ETF's performance and the underlying index [3]

Group 1 - The Chinese traditional medicine index (930641) has shown a slight increase of 0.20% as of July 25, 2025, with notable gains from companies such as Zhenbao Island (603567) up 5.92% and Fangsheng Pharmaceutical (603998) up 1.67% [1] - The Chinese traditional medicine ETF (159647) has increased by 0.19%, with a recent price of 1.03 yuan and a one-month growth of 5.56% [1] - The National Medical Products Administration has approved the first secondary protection variety of traditional Chinese medicine, the Xia Liqi Capsule from Shijiazhuang Yiling Pharmaceutical Co., with a protection period of seven years [1] Group 2 - Chinese innovative drug companies are transitioning from quantitative to qualitative changes, with expectations of significant business development (BD) transactions in the coming years, leading to potential mergers and acquisitions [2] - The next 5 to 10 years are anticipated to be a period of explosive growth for Chinese innovative drugs, with domestic companies expected to emerge as globally competitive multinational corporations (MNCs) [2] - The traditional Chinese medicine ETF closely tracks the traditional Chinese medicine index, which reflects the overall performance of listed companies involved in the production and sales of traditional Chinese medicine [2] Group 3 - As of June 30, 2025, the top ten weighted stocks in the traditional Chinese medicine index account for 55.96% of the index, including companies like Pian Zai Huang (600436) and Yunnan Baiyao (000538) [3]