6月30日，国家医保局、国家卫生健康委联合印发了《支持创新药高质量发展的若干措施》，聚焦创新药研发、准入、临床应用及支付全链条，从加大创新 药研发支持力度、支持创新药纳入基本医保药品目录和商业健康保险创新药品目录、支持创新药临床应用、提高创新药多元支付能力以及强化保障措施5个 方面，提出支持引导中国创新药高质量发展的具体举措。 在文件发布后的首个交易日，作为港股DTP第一股的思派健康(00314)在二级市场反应迅速。智通财经APP观察到，7月2日，思派健康早盘大幅高开，开盘半 小时内股价最高涨幅达到49.35%，股价最高触及6.93港元，创下近4个月以来新高。 实际上，自5月28日的低点3.37港元，截至目前思派健康股价最大涨幅已实现翻倍，达到105.64%，值得投资者高度关注。而从近期盘面信号来看，思派健康 也已显现出强势股特征，资金面与技术面的正向共振预示着新一轮的行情或启动在即。 智通财经APP观察到，5月29日至6月19日，思派健康近期成交量能呈现阶梯式放大特征。6月18日单日成交额达6.455亿港元，成交量约为1.3亿股，几乎与5 月总成交量齐平。 场内"惜筹"，场外"抢筹" 今年6月份以来，思派健 ...

图为张伟 主旨演讲 欧阳卫民：数智金融为科创企业添砖加瓦 欧阳卫民表示，近年来，数智金融得到了快速发展并极大提升了金融服务实体经济的品质和 能力。从企业类型看，国内顶级科创企业有央企，有地方国企，也有很多民营企业。数智金 融精准支持科创企业：一是数智信贷贷到企业的心坎上，满足企业需求，提供适配的金融产 品和服务；二是数智服务利用大数据等手段，为企业提供多元质押贷款等，扩大互信，让银 行敢作敢为；三是数智资本让融资不再拐弯抹角，拓宽融资渠道，强化资本市场功能，提高 直接融资比重和适配性。 2025年6月27日，清华大学五道口金融学院受邀在第14届中国（广州）国际金融交易·博览会上举办 主旨会议。会议以"新产业、新技术、新模式、新动能——数智金融助力高质量发展"为主题，为期1 天，设置主旨演讲、高端对话、主题发言和圆桌交流环节。多位来自金融、保险、法律与健康产业 领域的顶尖学者和资深从业者，围绕普惠金融发展、数智化金融创新、产业并购机遇及健康险生态 合作等话题进行了深入交流。会议由广东卫视主持人吴荻主持。 图为会议现场 会议由清华大学五道口金融学院党委委员、院长助理，《清华金融评论》执行主编 张伟 代表主办方 致 ...

Core Viewpoint - The Hong Kong pharmaceutical sector is experiencing a significant rally, with Sipai Health (00314) showing particularly strong performance, having increased nearly 60% since its low on May 28, 2023 [3][10]. Trading Performance - Sipai Health's stock price surged from a low of 3.37 HKD on May 28 to a high of 5.74 HKD on June 19, with a closing price of 5.3 HKD and a trading volume of 45.23 million HKD on that day [1][3]. - The stock has demonstrated a "volume-price rise" pattern, with daily trading volumes frequently exceeding 1 billion HKD, and a weekly increase of over 30% [4][7]. - The stock's turnover rate exceeded 60% during this period, indicating strong trading activity [4][5]. Institutional Interest - There has been a notable increase in large orders, with significant buying activity from institutional investors, as evidenced by a net inflow of 26.95 million HKD over the past five days [5]. - The proportion of holdings by mainland investors increased from 11.57% on May 29 to 13.22% on June 18, reflecting growing interest from this investor group [5]. Technical Indicators - Technical analysis shows that Sipai Health has broken through key resistance levels and is positioned above all major moving averages, indicating a bullish trend [7]. - The MACD indicator has shown a second bullish crossover above the zero line, and the RSI remains in a strong range of 70-85, suggesting robust upward momentum [7]. Business Model and Market Position - Sipai Health operates a unique business model that integrates medical services, insurance, and health management, which is gaining renewed market attention [10]. - The company has established strategic partnerships with multiple insurance firms, enhancing its profitability through high-margin insurance products [10][12]. - The business model's dual focus on medical services and insurance mitigates risks associated with purely online medical platforms and aligns with industry trends towards cost control and the rise of commercial insurance [10]. Financial Performance - The company's commercial medical insurance service revenue is projected to grow significantly, with a year-on-year increase of 39.6% expected in 2024 [11]. - By the end of 2024, Sipai Health's corporate medical insurance client base is anticipated to reach 476, covering over 1.1 million employees and their families, marking a growth of approximately 45% [11]. Competitive Advantage - Sipai Health's competitive edge stems from its integrated approach, where medical services drive pharmaceutical sales, and insurance needs enhance medical consumption [12]. - The company's ecosystem creates a "flywheel effect," improving business barriers and enhancing overall value [12]. - The current market conditions and the company's strong fundamentals suggest that Sipai Health's valuation recovery may just be beginning, with potential for further price appreciation as market penetration and innovation in pharmaceuticals expand [12].

其中，城市定制型医疗险在缓解居民"因病致贫"问题上成效显著，但行业发展也面临着问题：商业健康 险投保严格，多聚焦保障健康人群，难以满足慢病人群等特殊群体的保障需求；保障范围有待提升，产 品多以覆盖公立医院普通部为主，理赔范围不包含特需部、国际部及私立医院的就诊费用，也较少涵盖 创新药械、高端治疗设备等。 镁信健康始终秉持政策导向，以创新支付解决方案重塑健康保险价值链。2019年，镁信健康以一款特药 保障计划开启了商业健康险对创新药保障的先河。经过近六年的发展，在政策的支持下，作为医疗健康 服务与支付解决方案的探索者，镁信健康协助将一大批创新程度高、临床价值大、患者获益明显的创新 药物纳入保障范围，建立起患者与基本医保目录外新药、特药连接的纽带，通过产品形态创新、产品责 任升级不断提高商保的覆盖率，让更多的人能用得起、享受得到创新药械。 当一大批靶向药、基因药物正在加速走出实验室、走向市场，如何打通"最后一公里"，使其进入寻常百 姓家，成了社会关注的新议题。 在基本医保"保基本"的前提下，多元化的支付体系必不可少，其中，商业健康险被寄予厚望，且仍有很 大的发展空间。由镁信健康参与编写的《中国创新药械多元支付白皮 ...