中国生物医药投融资或正处于触底回升阶段，医疗ETF（159828）盘中净流入2500万份。 医疗ETF（159828）跟踪的是中证医疗指数（399989），该指数从沪深市场中选取医药卫生和药品 零售行业的上市公司证券作为指数样本，主要覆盖医疗器械、医疗服务及医疗研发外包等领域，以反映 医疗主题相关上市公司证券的整体表现。该指数成分股偏向中小市值，具有较高的成长性与波动性特 征。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不 预示未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参 考，不构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险 等级相匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 根据Wind数据，医疗ETF（159865）盘中净流入25 ...

根据wind数据，医疗ETF（159865）盘中流入6100万份，净流入5600万份，资金抢筹医疗资产。 国元证券表示，AI医疗是通过机器学习、自然语言处理、计算机视觉等先进技术，对复杂的医疗数据 进行深度分析，辅助临床决策、优化诊疗流程、提升医疗效率的新型医疗体系，具备智能化、高效化、 便捷化的特征，应用前景广阔。根据甲子光年《2024年中国AI医疗产业研究报告》，2023年中国AI医 疗行业规模为973亿元，预计将在2028年达到1598亿元，2022-2028年间的年复合增长率为10.5%。细分 市场中，AI医学影像和AI制药增长较快。政策支持产业发展，加快AI医疗技术落地。 医疗ETF（159828）跟踪的是中证医疗指数（399989），该指数从沪深市场中选取医药卫生和药品零售 行业的上市公司证券作为指数样本，主要覆盖医疗器械、医疗服务及医疗研发外包等领域，以反映医疗 主题相关上市公司证券的整体表现。该指数成分股偏向中小市值，具有较高的成长性与波动性特征。 （文章来源：每日经济新闻） ...

国元证券表示，AI医疗是通过机器学习、自然语言处理、计算机视觉等先进技术，对复杂的医疗数据 进行深度分析，辅助临床决策、优化诊疗流程、提升医疗效率的新型医疗体系，具备智能化、高效化、 便捷化的特征，应用前景广阔。根据甲子光年《2024年中国AI医疗产业研究报告》，2023年中国AI医 疗行业规模为973亿元，预计将在2028年达到1598亿元，2022-2028年间的年复合增长率为10.5%。细分 市场中，AI医学影像和AI制药增长较快。政策支持产业发展，加快AI医疗技术落地。 医疗ETF（159828）跟踪的是中证医疗指数（399989），该指数从沪深市场中选取医药卫生和药品零售 行业的上市公司证券作为指数样本，主要覆盖医疗器械、医疗服务及医疗研发外包等领域，以反映医疗 主题相关上市公司证券的整体表现。该指数成分股偏向中小市值，具有较高的成长性与波动性特征。 根据wind数据，医疗ETF（159828）今日流入1000万份，净流入200万份，资金抢筹医疗资产。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建 ...

Core Insights - The medical ETF (159865) has seen a net inflow of 9 million units, indicating strong capital interest in medical assets [1] - The "14th Five-Year Plan" emphasizes support for innovation in medical devices, aiming to make high-end medical equipment a growth driver for the economy [1] - The demand in niche areas such as emergency equipment and in-vitro diagnostics is expected to be released [1] - The innovative pharmaceuticals and medical devices sector is identified as the most promising growth area within the healthcare sector, with current adjustments primarily influenced by market sentiment [1] - As third-quarter reports are being disclosed, earnings certainty is becoming a key focus in the short term [1] - It is recommended to leverage policy benefits and industrial upgrade paths to seize opportunities in innovation-driven enterprises [1] - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects listed companies in the medical and pharmaceutical retail sectors from the Shanghai and Shenzhen markets [1] - The index primarily covers areas such as medical devices, medical services, and medical R&D outsourcing, reflecting the overall performance of related listed companies [1] - The constituent stocks of the index tend to be small to mid-cap, characterized by high growth potential and volatility [1]

Core Viewpoint - The medical ETF (159865) has seen a net inflow of 9 million units, indicating strong demand for medical assets. The "14th Five-Year Plan" emphasizes support for innovation in medical devices, suggesting a potential release of demand in areas like emergency equipment and in vitro diagnostics. The current adjustment in the sector is primarily influenced by market sentiment, with a focus on performance certainty as third-quarter reports are released. Companies should leverage policy benefits and industry upgrades to identify opportunities in innovation-driven enterprises [1]. Group 1 - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects listed companies in the medical and pharmaceutical retail sectors from the Shanghai and Shenzhen markets. This index primarily covers medical devices, medical services, and medical R&D outsourcing, reflecting the overall performance of related listed companies [1]. - The index components are skewed towards small and mid-cap stocks, which exhibit higher growth potential and volatility characteristics [1].

Group 1 - The medical device industry is experiencing a dual recovery in performance and valuation, driven by optimized procurement policies, corporate strategic transformations, and international business expansion [1] - Several companies are showing signs of performance inflection, with expectations of high growth in the second half of 2025 and 2026 [1] - There is an increasing focus on innovative medical devices, particularly in areas such as brain-computer interfaces, AI healthcare, and surgical robots, which have significant growth potential [1] Group 2 - Internationalization is becoming a key growth logic, with Chinese companies gaining global recognition in both incremental and breakthrough innovations, such as the FDA approval of a cerebral stent by SINO Medical [1] - Companies like United Imaging and Mindray are expected to benefit from improved bidding processes and inventory clearance, with Q3 performance anticipated to accelerate [1] - The optimization of procurement rules, such as price correction mechanisms, is alleviating price reduction pressures, indicating a clear trend of industry valuation recovery [1] Group 3 - The CSI Medical Index, which the medical ETF (159828) tracks, selects listed companies involved in medical devices, medical services, and medical information technology to reflect the overall performance of the medical theme [1] - The CSI Medical Index consists of 50 actively traded and high market capitalization securities from the pharmaceutical and biotechnology sectors, ensuring the representativeness of the index samples through periodic adjustments [1]

Core Insights - The medical ETF (159865) has seen a net inflow of 620 million units, indicating strong investor interest in medical assets [1] - The World Conference on Lung Cancer (WCLC) will take place from September 6-9, 2025, in Barcelona, Spain, where Chinese pharmaceutical companies will showcase innovative research results [1] - Key clinical data will be presented at the conference, including results from Kangfang Biotech's AK112 and AK104 studies, as well as data from Heng Rui Pharma's SHR-4849 and other companies [1] Investment Opportunities - Investors interested in the pharmaceutical sector can consider the medical ETF (159828) to capitalize on related opportunities [1] - The upcoming WCLC conference is expected to highlight significant advancements in lung cancer treatments from various Chinese pharmaceutical firms [1]

Group 1 - The pharmaceutical and biotechnology sector has increased by 25.02% this year, ranking 4th among 31 industries in the Shenwan index, with a current PE valuation of 31.31 times, at the historical median level [1] - Sub-sectors such as medical services, chemical pharmaceuticals, and medical devices have shown significant gains of 6.60%, 3.80%, and 2.22% respectively in the past week [1] - The National Healthcare Security Administration has issued a temporary measure for disease-based payment management, promoting payment reform and standardizing total budget management and disease payment standard calculations [1] Group 2 - The preliminary list of innovative drugs for medical insurance and commercial insurance for 2025 has been released, with several cancer drugs and chronic disease new drugs expected to see rapid growth after being included in the dual directory [1] - The medical device sector continues to receive policy support for innovation, with a recommendation to focus on niche areas such as brain-computer interfaces [1] - Under the release of industry policy dividends, there are investment opportunities in innovative drugs, CXO, and medical equipment sectors [1] Group 3 - The medical ETF (159828) tracks the CSI Medical Index (399989), which can have a daily fluctuation of up to 20%, reflecting the overall performance of listed companies involved in medical devices, medical services, and medical information technology [1] - The index primarily consists of companies in the pharmaceutical and biotechnology industry, while also including a small number of companies in the computer and beauty care sectors, focusing mainly on small and mid-cap enterprises [1]

Group 1 - The pharmaceutical and biotechnology industry has shown strong performance, with a 25.02% increase since the beginning of 2025, outperforming the CSI 300 index by 18.22 percentage points, ranking 4th in industry performance [1] - The preliminary review of the dual catalog for innovative drugs under basic medical insurance and commercial insurance has been published, with 534 drugs passing the basic medical insurance catalog review and 121 drugs passing the commercial insurance innovative drug catalog review. Antitumor drugs account for 29.2%, anti-infection drugs for 10.5%, and neurological drugs for 10.3% [1] - The sentiment in the innovative drug sector is high, exemplified by the 206.5% increase in the stock price of Silver诺药业 on its first day of trading in Hong Kong, with its core product being the first domestically approved long-acting GLP-1 receptor agonist in China [1] Group 2 - The medical device sub-sector has shown the best performance, with medical research outsourcing increasing by 59.6% since the beginning of the year, while chemical preparations and raw materials have risen by 44% and 42.6% respectively [1] - The overall supply and demand situation in the industry is favorable, driven by policy support and technological innovation, promoting continuous development [1] - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects listed companies involved in medical devices, medical services, and medical information technology to reflect the overall performance of medical-related listed companies [1]

Group 1 - The core viewpoint of the article emphasizes the policy direction of "supporting true innovation, supporting genuine innovation, and supporting differentiated innovation" in the context of medical insurance for innovative drugs and devices, rejecting pseudo-innovation and inward competition [1] - The meeting covers the entire policy system from research and development, value assessment, medical insurance access to capital support, accelerating the implementation of policies that will further stimulate industry innovation vitality and accelerate industrial upgrading [1] - Companies with independent innovation capabilities are expected to benefit in the long term as the industry evolves towards multi-dimensional development, transitioning from scale expansion to a higher level of development [1] Group 2 - The medical device sector showed strong performance with a July fluctuation of 14.27%, ranking second among six sub-sectors in the pharmaceutical and biological industry [1] - The medical ETF (159828) tracks the CSI Medical Index (399989), which selects representative listed companies in the fields of medical services, medical devices, pharmaceuticals, and biotechnology from the Shanghai and Shenzhen markets [1] - The CSI Medical Index covers multiple sub-industries, including medical equipment, in vitro diagnostics, and high-value consumables, demonstrating strong industry representation [1]