每经编辑：叶峰 今日早盘A股震荡走强，行业轮动较快，AI应用、消费电子、CPO等方向涨幅居前。 如果看好一个行业，则可以通过选择行业ETF来捕捉板块整体上行机遇。投资者可以关注以下热门板块的代表产品，一键布局A股各行业核心资产：机器人 ETF（159770），计算机ETF（159998）、生物医药ETF（159859）、芯片ETF天弘（159310）、食品饮料ETF天弘（159736）、航空航天ETF天弘 （159241）、证券ETF（159841）。 每日经济新闻 面对热点快速轮动的普涨行情，热衷追涨杀跌的散户投资者，往往出现"收益跑不赢指数"的局面，A股目前超5000只个股更是增加了投资者选股的难度。此 外，对于刚入市的投资者，开通创业板、科创板仍需要一定时间的资金门槛，无疑会错过当下的热门行情。 不过，通过ETF进场则无需担心上述困扰。近日，我国ETF规模正式突破5万亿元大关，越来越多的投资者开始通过ETF来进入市场，ETF也正在成为普通投 资者的"最优解"。 ...

华福证券指出，医药生物行业近期表现强劲，行业中期重点关注创新药（包括商业化能力强的 BioPharma、前沿技术如基因治疗等）、迎来政策拐点的医疗器械，以及中报业绩超预期标的。创新 +复苏+政策构成中长期三大主线，板块估值仍处于历史较低水平，配置价值凸显。 湘财证券指出，从产业运行趋势来看，国内创新药产业十年蓄力，当前步入创新成果业绩兑现的产业拐 点阶段，重视这一趋势变化。政策方面，近期国家医保局在创新药械专场会议中提及制定了"新上市药 品首发价格机制"，后续有望出台相关细则政策。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 创新药ETF天弘（517380）是全市场规模最大的横跨沪深港三地的创新药ETF，且是全市场唯一一只跟 踪恒生沪深港创新药精选50指数的ETF产品，该指数实现了A股+港股、创新药+CXO全面覆盖。创新药 ETF天弘（517380）还配置了场外联接基金（A类：014564，C类：014565）。 消息面上，据中国政府网消息，国务院原则同意《中国（江苏）自由贸易试验区生物医药全产业链开放 创新发展方案》。方案指出，将中国（江苏）自由贸易试 ...

Group 1: Market Performance - The pharmaceutical sector showed strength in early trading on July 25, with the Biopharmaceutical ETF (159859) having a turnover rate exceeding 3.5% and a transaction volume of over 1.11 billion yuan, leading among its peers [1] - The Medical Devices ETF (159873) increased by 0.82% with a turnover rate over 8.1%, featuring stocks like Kangtai Medical hitting the daily limit [1] - The Innovation Drug ETF Tianhong (517380) rose by 0.79% with a turnover rate exceeding 1.8%, and its constituent stocks included Kanglong Chemical and WuXi Biologics, which saw significant gains [1] Group 2: ETF Characteristics - The Biopharmaceutical ETF (159859) closely tracks the National Index of Biopharmaceuticals (399441.SZ), covering various sectors such as innovative drugs, CXO, vaccines, and blood products, making it the largest and most liquid product in its category [1] - The Innovation Drug ETF Tianhong (517380) is the largest in the market, spanning the Shanghai, Shenzhen, and Hong Kong markets, and is the only ETF tracking the Hang Seng Shanghai-Shenzhen-Hong Kong Innovation Drug Select 50 Index, which has a cumulative weight of nearly 60% in its top ten constituents [2] Group 3: Industry Insights - Jianghai Securities emphasizes the importance of focusing on innovative drug companies with rich R&D pipelines and suggests investing in the entire innovative drug industry chain due to its potential for strong synergistic development [3] - Everbright Securities recommends focusing on two types of targets: those that have consistently been selected in centralized procurement and possess dual advantages in quality and cost, and innovative drug companies with rich R&D pipelines whose core products are entering medical insurance or are expected to be included in the innovative drug catalog [3]

Group 1 - The innovative drug sector in A-shares and Hong Kong stocks has seen significant gains, with the Tianhong Innovative Drug ETF (517380) rising by 3.63% and many constituent stocks, such as Sangfor and Kexing, increasing by over 10% [1] - The Tianhong Innovative Drug ETF (517380) is the largest in the market, covering both A-shares and Hong Kong stocks, and tracks the Hang Seng-Hushen-Hong Kong Innovative Drug Selected 50 Index, which has a cumulative weight of nearly 60% in its top ten constituent stocks [1] - The Biopharmaceutical ETF (159859) also experienced a rise of 1.28%, with a trading volume exceeding 95 million yuan, and notable gains in constituent stocks like Shenzhou Cell and Anke Bio [1][2] Group 2 - The biopharmaceutical ETF (159859) closely tracks the National Securities Biopharmaceutical Index and is currently the largest in its category [2] - A cooperation agreement was signed between the Hunan Provincial Government and the National Administration of Traditional Chinese Medicine to build a national Chinese medicinal material germplasm resource bank, which aims to enhance the sustainable development of traditional Chinese medicine resources [2] - The innovative drug sector remains a key investment focus, driven by improved biotech financing and supportive domestic policies, alongside the positive earnings forecast from WuXi AppTec [2][3] Group 3 - The innovative drug sector's sustainability is supported by ongoing policy backing, enhanced global competitiveness, and the realization of commercial profits [3] - There is a focus on the improving fundamentals of the innovative drug industry chain, with recovery trends observed in overseas orders and domestic business autonomy [3]

Group 1: Market Overview - A-shares and Hong Kong stocks opened mixed on July 17, with the pharmaceutical and biotechnology sector showing upward movement [1] - The Tianhong Innovation Drug ETF (517380) rose by 2.09% during the session, with a current premium/discount rate of 0.08% [1] - The Biopharmaceutical ETF (159859) increased by 0.51%, with a real-time transaction volume exceeding 14.8 million yuan, leading among similar products [2] Group 2: ETF Details - The Tianhong Innovation Drug ETF (517380) is the largest in the market, covering both A-shares and Hong Kong stocks, and tracks the Hang Seng-Hushen-Hong Kong Innovation Drug Selected 50 Index [1] - The top ten constituent stocks of the Hang Seng-Hushen-Hong Kong Innovation Drug 50 Index account for nearly 60% of the total weight, including high-quality A-share companies like Innovent Biologics and BeiGene [1] - The Biopharmaceutical ETF (159859) closely tracks the Guozheng Biopharmaceutical Index and currently holds the largest product scale among similar ETFs [2] Group 3: Industry Developments - The National Healthcare Security Administration has initiated the 11th batch of centralized drug procurement, with 55 varieties included in the reporting range [2] - The procurement rules will adhere to principles of maintaining clinical stability, ensuring quality, preventing collusion, and avoiding internal competition [2] - The second Brain-Computer Interface Technology Developers Conference will be held from August 16 to August 17 [2] Group 4: Analyst Insights - According to Jiao Yin International, the core driver of the current Hong Kong innovation drug market is value reassessment, with attractive valuations remaining [3] - Domestic innovation drug enthusiasm has surged this year, with significant BD transactions and increased R&D investment, indicating a potential systematic recovery in the sector [3] - East China Securities suggests focusing on investment opportunities in CXO, innovative drugs, medical devices, traditional Chinese medicine, chain pharmacies, and medical services [3]

Group 1 - The A-share market indices showed positive performance, with the pharmaceutical sector remaining active, particularly the innovative drug ETF Tianhong (517380), which rose by 1.53% [1] - The innovative drug ETF Tianhong is the largest in the market, covering both A-shares and Hong Kong stocks, and has achieved a net value growth rate of 24.96% over the past year, outperforming its benchmark by 5.45% [1] - The Biopharmaceutical ETF (159859) also saw an increase of 0.55%, with a trading volume exceeding 20 million yuan, indicating strong investor interest [1] Group 2 - The article from "Learning Times" emphasizes the strategic importance of accelerating innovative drug research and development, highlighting the need for a sustainable investment and financing system in the pharmaceutical sector [2] - Recommendations include enhancing multi-tiered capital market support for pharmaceutical companies, encouraging long-term funds to invest in biopharmaceuticals, and creating a favorable incubation environment for the industry [2] - The article also suggests improving mechanisms for handling innovation failures and enhancing intellectual property protection to incentivize high-quality research outputs [2] Group 3 - According to Zhongtai Securities, innovative drugs represent a clear industry trend with significant growth potential, and the investment focus on innovative drugs is expected to remain unchanged throughout the year [3] - Guojin Securities expresses strong confidence in the pharmaceutical sector reversing its trend by 2025, with innovative drugs being a key investment opportunity [3] - Xiangcai Securities notes that after a decade of investment in innovative drugs, the sector is entering a phase of results realization, supported by continuous clinical data and accelerated commercialization [3]

Group 1 - The pharmaceutical sector is experiencing increased activity, with the Tianhong Innovation Drug ETF (517380) rising by 0.30% and trading volume exceeding 11 million yuan, indicating a premium trading environment [1] - Key stocks within the Tianhong Innovation Drug ETF include Kexing Pharmaceutical, Kanglong Chemical, Hansoh Pharmaceutical, and others, with Kexing Pharmaceutical seeing an increase of over 3% [1] - The Tianhong Innovation Drug ETF is the only product tracking the Hang Seng Shanghai-Shenzhen Hong Kong Innovation Drug Selected 50 Index, which includes leading companies in the innovation drug sector [1] Group 2 - The Biopharmaceutical ETF (159859) has risen by 0.27% with a trading volume exceeding 37 million yuan, also indicating a premium trading environment [2] - The Biopharmaceutical ETF closely tracks the Guozheng Biopharmaceutical Index and is the largest product in its category, supported by connecting funds [2] - Recent government policies aim to enhance the sharing of quality medical resources and improve the basic medical insurance drug catalog, which is expected to drive growth for pharmaceutical companies, particularly in the innovation drug sector [2] Group 3 - The National Medical Insurance Administration plans to release the first version of the Class C drug catalog by 2025, focusing on innovative drugs with significant clinical value that are currently not included in the basic insurance catalog [3] - Analysts remain optimistic about the innovation drug sector, overseas expansion, and the clearing of centralized procurement, suggesting that these areas will be key investment themes in the pharmaceutical sector through 2025 [3] - The pharmaceutical market in China is undergoing a period of increasing concentration, with mergers and acquisitions expected to accelerate, highlighting potential growth opportunities in specific segments such as insulin and orthopedics [3]

Group 1 - The A-shares and Hong Kong stocks collectively declined on May 30, while the Hang Seng-Hushen Hong Kong Innovative Drug Selected 50 Index rose against the trend [1] - The Tianhong Innovative Drug ETF (517380) increased by 1.77%, ranking among the top fifteen ETFs in the market, with significant gains from constituent stocks such as Ruizhi Pharmaceutical and Yangguang Nuohuo [1] - The Tianhong Innovative Drug ETF has accumulated a rise of over 6.5% from May 6 to May 29 [1] Group 2 - The Biopharmaceutical ETF (159859) closely tracks the National Index of Biopharmaceuticals and is the largest product in its category, also offering connecting funds [2] - On May 29, the National Medical Products Administration issued approvals for 11 new drugs, with five coming from innovative companies on the Sci-Tech Innovation Board, covering various treatment areas [2] - The 2025 ASCO conference is expected to showcase significant data from domestic innovative drugs, with 71 original research results from Chinese pharmaceutical companies selected for presentation [2] Group 3 - CITIC Securities predicts a clear trend of performance and valuation recovery in the healthcare industry in the second half of 2025, with a focus on innovation-driven and internationalization strategies [3] - The optimization of centralized procurement policies is expected to positively impact market sentiment and lead to a recovery in the valuation of many sub-sectors in the pharmaceutical industry [3]

Group 1 - The pharmaceutical sector is experiencing renewed activity, particularly in CRO, innovative drugs, and medical services, with significant gains in related ETFs [1] - The Biopharmaceutical ETF (159859) rose by 1.7%, with trading volume exceeding 50 million yuan, while the Innovative Drug ETF Tianhong (517380) increased by 1.66%, with several constituent stocks rising over 5% [1] - The Biopharmaceutical ETF closely tracks the National Biopharmaceutical Index (399441.SZ) and is the largest product in its category, also offering a connecting fund [1] Group 2 - The ASCO annual meeting, a major platform for biopharmaceutical companies to present clinical research results, will take place from May 30 to June 3, 2025, in Chicago and online [2] - The innovative drug sector is highlighted as a key focus for the year, with attention on areas such as anti-tumor, autoimmune, GLP-1, stem cells, and gene therapy, alongside domestic pharmaceutical consumption and medical aesthetics [2] - The innovative drug sector is expected to maintain its growth, supported by policy, global competitiveness, and improving fundamentals, with a potential recovery in demand anticipated by 2025 [2]

Group 1 - The Shanghai Composite Index turned positive on May 27, with the Biopharmaceutical ETF (159859) rising by 0.28% at the time of reporting [1] - Notable gainers within the Biopharmaceutical ETF included Dizhe Pharmaceutical-U, which increased by over 3%, along with Teva Biopharmaceuticals, Kailaiying, and Wantai Biological Pharmacy [1] - The Innovative Drug ETF Tianhong (517380) saw a decline of 0.33%, with Zhejiang Pharmaceutical rising by over 3%, while Ruizhi Pharmaceutical dropped by 3% [1] Group 2 - On May 26, the Biopharmaceutical ETF (159859) experienced a net inflow of 35.36 million yuan despite a drop of 0.57%, while the Innovative Drug ETF Tianhong (517380) had a net inflow of 3.6 million yuan despite a decline of 1.64% [1] - The Biopharmaceutical ETF closely tracks the National Biopharmaceutical Index (399441.SZ), which includes the top 30 securities in the biopharmaceutical sector based on market capitalization and liquidity [1] - The Innovative Drug ETF Tianhong, launched in 2021, has a scale of 389 million yuan as of May 26, and is the only product covering the entire market for the "Hengsheng Huasheng Hong Kong Innovative Drug Selected 50" index [2] Group 3 - Minsheng Securities remains optimistic about the pharmaceutical sector, particularly in the innovative drug and new consumption areas, highlighting ongoing catalysts in the innovative drug sector [2] - Key focus areas for the innovative drug sector include anti-tumor, autoimmune, GLP-1, stem cell, and gene therapy directions, along with an emphasis on domestic production and medical consumption, especially in the beauty sector [2]