Group 1 - The Hong Kong innovative drug sector experienced a decline, with the Hang Seng Innovative Drug Index dropping nearly 2.0% in early trading [1] - The Hang Seng Innovative Drug ETF (159316) saw a trading volume exceeding 200 million yuan, with a net subscription of 15 million units [1] - Six innovative drugs entered the proposed breakthrough treatment category, including BI 1810631, IN10018, MRG004A, ATG-022, LM-302, and RC148 [1] Group 2 - Industrial research indicates that the innovative drug sector's prosperity is sustainable, with "innovation + internationalization" remaining a core direction for the pharmaceutical industry [1] - Policy support for the industry is expected to continue, enhancing global competitiveness and commercial profitability [1] - The recent revision of the Hang Seng Innovative Drug Index's compilation scheme excludes CXO companies, resulting in a "pure" innovative drug index [1] Group 3 - Backtesting shows that the adjusted index has higher annualized returns and Sharpe ratios since its launch on July 10, 2023 [1] - The Hang Seng Innovative Drug ETF (159316) is currently the only product tracking this index, which is expected to better assist investors in seizing innovative drug investment opportunities [1]

Group 1 - The innovative drug concept stocks have seen a surge in popularity, with Zhendong Pharmaceutical rising by 20%, and several other companies like Saily Medical and Qidi Pharmaceutical hitting the daily limit up [1] - Baichuan Intelligent has officially launched the open-source medical enhancement model Baichuan-M2, which has been optimized for private deployment in the medical field, achieving a 57-fold cost reduction compared to the previous dual-node deployment method [1] - Six innovative drugs have entered the public notice period for potential breakthrough therapy designation, including BI 1810631, IN10018, MRG004A, ATG-022, LM-302, and RC148, with MRG004A, ATG-022, and LM-302 being ADC drugs [1]