来源：新浪基金∞工作室 9月30日，港股创新药50ETF（513780）涨2.67%，成交额6.82亿元。当日份额减少2000.00万份，最新份 额为18.54亿份，近20个交易日份额增加4.83亿份。最新资产净值计算值为36.51亿元。 港股创新药50ETF（513780）业绩比较基准为中证港股通创新药指数收益率(使用估值汇率调整)，管理 人为景顺长城基金管理有限公司，基金经理为金璜、张晓南，成立（2024-10-16）以来回报为96.97%， 近一个月回报为4.75%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 ...

Group 1 - The Hong Kong innovative drug concept stocks have seen a significant rise, with the Hong Kong Innovative Drug 50 ETF (513780) increasing by 4.02% as of the report date, and a year-to-date increase of 103.51% [1][2] - Major component stocks such as Sanofi, Eucan Vision Biotech-B, and others have surged over 15%, indicating strong market performance in the innovative drug sector [1] - The Hong Kong Innovative Drug 50 ETF closely tracks the CSI Hong Kong Innovative Drug Index, which reflects the overall performance of innovative drug companies listed in the Hong Kong Stock Connect [1] Group 2 - Approximately 110 Hong Kong biopharmaceutical companies reported mid-year earnings, with nearly 70 companies showing year-on-year revenue growth, and about 10 companies achieving revenue growth exceeding 100% [2] - The industry is experiencing a shift from "Made in China" to "Created in China," with innovative products entering the commercialization phase and potential for international expansion [2] - Current market conditions, characterized by low inventory and valuation bottoms, present an excellent opportunity for investment in the pharmaceutical sector [2]

Core Viewpoint - The Hong Kong innovative drug sector is experiencing a strong performance, with significant gains in stock prices and improved profitability in the biotech industry, indicating potential investment opportunities [1] Group 1: Market Performance - The Hong Kong innovative drug sector saw a notable increase, with stocks like Four Seasons Pharmaceutical rising by 7%, and Stone Pharmaceutical increasing by over 5% [1] - The Hong Kong Innovative Drug 50 ETF (513780) rose by 2.24%, with a year-to-date increase of 113% [1] - The total net inflow into the Hong Kong Innovative Drug 50 ETF (513780) reached 2 billion yuan, bringing its latest scale to 2.703 billion yuan, making it the top performer in its category [1] Group 2: Financial Performance - The biotech sector's profitability has significantly improved, with 22 representative biotech companies reporting a nearly 30% year-on-year growth in cumulative revenue (including milestone income) for the first half of 2025 [1] - The top ten constituent stocks of the Hong Kong Innovative Drug 50 ETF account for over 70% of its total weight, including leading companies such as CanSino Biologics, Innovent Biologics, and BeiGene [1] Group 3: Investment Strategy - Recent market trends suggest a potential shift in focus, with institutions indicating that the technology sector may undergo a correction, making innovative drugs a sector to watch for future investments [1] - Dongwu Securities recommends actively positioning in the innovative drug sector as part of the September strategy [1]

Core Viewpoint - The Hong Kong innovative drug sector is experiencing significant growth, with the Hong Kong Innovative Drug 50 ETF (513780) leading the market with a year-to-date increase of over 112% [2] Group 1: Market Performance - The Hong Kong Innovative Drug 50 ETF (513780) has seen a net inflow of 800 million yuan in the last 20 days, with a total net inflow exceeding 2 billion yuan this year, bringing its latest scale to 2.712 billion yuan [2] - The ETF is noted for having the largest scale and best liquidity among its peers, allowing for T+0 trading [2] Group 2: Composition and Holdings - The index tracked by the Hong Kong Innovative Drug 50 ETF consists solely of innovative drug companies, with major holdings including industry leaders such as CanSino Biologics, Innovent Biologics, WuXi Biologics, BeiGene, China National Pharmaceutical Group, CSPC Pharmaceutical Group, Hansoh Pharmaceutical, WuXi AppTec, and 3SBio [2] Group 3: Future Outlook - CITIC Securities anticipates an increase in innovative drug catalyst events in September, suggesting that the recent technology switch has cleared out short-term speculative money from the sector, which may allow innovative drugs to continue their upward trend after recent adjustments [2]

港股创新药50ETF（513780）业绩比较基准为中证港股通创新药指数收益率(使用估值汇率调整)，管理 人为景顺长城基金管理有限公司，基金经理为金璜、张晓南，成立（2024-10-16）以来回报为91.49%， 近一个月回报为10.67%。 来源：新浪基金∞工作室 8月21日，港股创新药50ETF（513780）涨1.48%，成交额5.82亿元。当日份额增加1300.00万份，最新份 额为13.15亿份，近20个交易日份额增加6.16亿份。最新资产净值计算值为25.18亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 ...

Group 1 - The core viewpoint of the articles highlights the significant growth and investment opportunities in the Hong Kong innovative drug sector, particularly driven by recent policy support and market dynamics [1][2][3] - The Hong Kong Innovative Drug 50 ETF (513780) has seen a remarkable increase of over 107% year-to-date, with a net inflow of 1.81 billion yuan since the beginning of the year [1] - The recent announcement by the National Healthcare Security Administration regarding the adjustment of the national medical insurance drug catalog is expected to benefit high-priced innovative drugs and gene therapies, fostering a collaborative development model between basic medical insurance and commercial insurance [1][2] Group 2 - The top ten constituents of the CSI Hong Kong Stock Connect Innovative Drug Index account for 70.59% of the total weight, including high-quality A-share companies like Innovent Biologics and CSPC Pharmaceutical Group [2] - The innovative drug sector in China is at a new historical starting point, with domestic companies enhancing their competitiveness and expanding overseas, while the industry is transitioning towards a profit-driven cycle supported by strong policy backing [2] - Investors are encouraged to pay attention to the Hong Kong Innovative Drug 50 ETF and its related funds as potential investment opportunities in this growing sector [2]

Group 1 - The Hong Kong stock market showed strong performance on August 13, with the Hang Seng Index rising by 1.88% and the Hang Seng Tech Index increasing by 2.35%, particularly driven by the healthcare sector [1] - The Hong Kong Innovative Drug 50 ETF (513780) closed up by 3.38% with a turnover rate exceeding 18% and a transaction volume of over 400 million yuan, indicating strong investor interest [1] - Notably, the Hong Kong Innovative Drug 50 ETF (513780) experienced a net inflow of 1.07 billion yuan over the past 15 trading days, and it has gained over 92% year-to-date as of August 12 [1] Group 2 - The National Healthcare Security Administration announced the preliminary review results for the 2025 medical insurance directory and commercial insurance innovative drug directory, with 534 drugs passing the basic medical insurance directory review and 121 drugs passing the commercial insurance innovative drug directory review [2] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug directory, indicating a push for diversified payment methods for innovative drugs [2] - Analysts suggest that the rise of innovative drugs is sustainable, recommending attention to companies with rich pipeline layouts, high-potential single innovative drugs, and leading technology platforms in the sector [2]

来源：新浪基金∞工作室 港股创新药50ETF（513780）业绩比较基准为中证港股通创新药指数收益率(使用估值汇率调整)，管理 人为景顺长城基金管理有限公司，基金经理为金璜、张晓南，成立（2024-10-16）以来回报为79.05%， 近一个月回报为16.02%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 8月12日，港股创新药50ETF（513780）跌0.66%，成交额4.70亿元。当日份额增加5650.00万份，最新份 额为12.40亿份，近20个交易日份额增加5.42亿份。最新资产净值计算值为22.20亿元。 ...

Group 1 - The core viewpoint of the articles highlights the significant growth and activity in the Hong Kong innovative drug sector, with the Hong Kong Innovative Drug 50 ETF (513780) experiencing a year-to-date increase of approximately 100% [1] - Notable individual stocks in the innovative drug sector include Ascentage Pharma-B, which rose over 10%, and others like CanSino Biologics and Lepu Biopharma-B, which increased by more than 7% [1] - The net inflow of funds into the Hong Kong Innovative Drug 50 ETF has been substantial, with a total net inflow of 526 million yuan over the last nine trading days and over 800 million yuan in the past three months, indicating accelerated capital deployment [1] Group 2 - The top ten constituents of the CSI Hong Kong Stock Connect Innovative Drug Index account for a cumulative weight of 70.19%, including high-quality A-share companies like Innovent Biologics and CSPC Pharmaceutical Group [2] - The innovative drug sector in China is at a new historical starting point, with domestic companies enhancing their competitiveness and expanding overseas, while industry revenue is rapidly growing and moving towards a profit-driven new cycle [2] - Strong policy support is crucial for the development of the innovative drug industry, providing a favorable environment for growth and investment opportunities [2]

Group 1 - The core viewpoint of the articles highlights the strong performance and growth potential of the Hong Kong innovative drug sector, particularly the Hong Kong Innovative Drug 50 ETF, which has seen a year-to-date increase of 105% [1][2] - The Hong Kong Innovative Drug 50 ETF has attracted significant capital inflow, with a net inflow of 340 million yuan over the last five trading days and over 600 million yuan in the past three months, indicating accelerated investment interest [1] - The CRO and CDMO sectors are expected to experience a recovery in demand due to multiple factors, including the anticipated easing of overseas interest rates in Q4 2024 and the introduction of significant policies in 2025, which could lead to a "Davis Double Play" scenario of simultaneous profit and valuation increases [1] Group 2 - The mid-year reporting season is expected to show performance in the innovative drug sector similar to Q1, with a positive outlook for sub-sectors such as innovative drugs and the innovative drug supply chain, which are showing signs of recovery [2] - The top ten constituents of the China Securities Hong Kong Stock Connect Innovative Drug Index account for 70.03% of the index, including high-quality A-share companies like Innovent Biologics and CSPC Pharmaceutical Group, indicating a strong focus on innovative drug research and development [2] - The domestic innovative drug sector is at a new historical starting point, with companies enhancing their competitiveness and expanding overseas, supported by rapid revenue growth and favorable policies [2]