Market Performance - The CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index increased by 0.5% at midday, while the Hang Seng Hong Kong Stock Connect Innovative Drug Index rose by 0.3%. The CSI Biotechnology Theme Index and the CSI 300 Pharmaceutical and Health Index both saw a 0.1% increase, whereas the CSI Innovative Drug Industry Index declined by 0.2% [1]. Company Developments - Recently, CloudTop New Medicine announced that the U.S. FDA has approved its cardiovascular product, Lurepirdine injection, for lowering low-density lipoprotein cholesterol levels in patients with hypercholesterolemia. The company plans to submit a listing application in the Greater China region in the first half of 2026, which is expected to boost market confidence in the internationalization prospects of innovative drugs [1].

Group 1 - The core viewpoint of the news is that innovative drug stocks in the Hong Kong market have shown strong performance, with notable increases in share prices for several companies [1] - The Hang Seng Hong Kong Stock Connect Innovative Drug Index rose by 4.7%, while the CSI Hong Kong Stock Connect Pharmaceutical and Health Comprehensive Index increased by 3.7% [1] - In the A-share market, the CSI Innovative Drug Industry Index rose by 2.2%, and both the CSI Biotechnology Theme Index and the CSI 300 Pharmaceutical and Health Index increased by 1.7% [1] Group 2 - The Biotech ETF (No. 159837) tracks the CSI Biotechnology Theme Index, which focuses on leading biotech companies in the A-share market, with a rolling P/E ratio of 58.0 times and a valuation percentile of 70.7% [4] - The Medical ETF (ONLY 512010) tracks the CSI 300 Pharmaceutical and Health Index, covering major companies in the pharmaceutical and health industry, with a rolling P/E ratio of 31.3 times and a valuation percentile of 49.3% [4]