此外在科创宽基领域，虽然目前追踪科创50指数的ETF已有18只，但增强ETF仅有3只，鹏华基金旗下 的科创50增强ETF(588460)不仅成立时间最早(2022年12月)，且目前规模最大，为8.16亿元。该基金通过 多因子量化模型优选个股，在跟踪基准基础上追求超额收益。Wind数据显示，截至2025年9月29日，科 创50增强ETF(588460)近一年大涨110.60%，对比同期业绩比较基准98.70%的涨幅，实现了11.9%的超额 收益。同时拉长时间线来看，自成立以来该基金年化回报为21.41%，对比同期业绩比较基准14.57%的 回报，为持有人带来较为满意的收益。 鹏华基金的差异化优势，正是源于对产业趋势的深刻洞察与敢于突破的创新基因。这种"人无我有，人 有我优"的布局能力，使其在避免同质化内耗的同时，早早抢占了投资者认知与市场份额。目前，鹏华 基金旗下科创ETF产品矩阵已扩容至11只，覆盖宽基、增强策略、行业主题及创新债券等多个细分品 类，布局数量及品类覆盖均位列行业前茅，总管理规模超310亿元。 随着ETF数量超过1300只，产品同质化也逐渐成为行业痛点。在此背景下，鹏华基金作为"科创股债ETF ...

Group 1: Breakthroughs in Innovative Drugs - The innovative drug sector has achieved significant breakthroughs, with Guangshantang's hepatitis B new drug Phase I data endorsed by The Lancet, targeting low-viral-load patients unresponsive to existing therapies, indicating a broad commercialization prospect [1] - Hanyu Pharmaceutical is exploring drug revenue rights tokenization, pioneering a new financing model in the biopharmaceutical sector [1] Group 2: Future Trends in Innovative Drugs - Dongwu Securities highlights four key points regarding the future of innovative drugs: 1) The fundamentals of two major leaders have changed, with BeiGene's revenue and profit expected to turn around by 2025, and Heng Rui's innovative drug proportion expected to exceed 50% in 2024 [2] - 2) The logic behind the two innovative drug bull markets differs, with the 2021 and 2025 markets driven by domestic commercialization and strategic overseas expansion, respectively [2] - 3) China is the second-largest source of quality innovative drug pipelines globally, holding 22% of global FIC pipelines, with a potential market share of $275 billion if the global market reaches $1.1 trillion by 2024 [2] - 4) The market capitalization of the healthcare sector in A-shares, Hong Kong, and U.S. markets is lower than that of the U.S., indicating structural growth opportunities for domestic innovative drug companies [2] Group 3: Performance of Biopharmaceutical Index - The STAR Market Biopharmaceutical Index (000683) includes 50 large-cap companies from various sectors, reflecting the overall performance of representative biopharmaceutical companies in the STAR Market [3] - As of July 31, 2025, the top ten weighted stocks in the STAR Market Biopharmaceutical Index accounted for 49.14% of the index, indicating a concentration of market value among leading companies [3]