in early trading on October 11, a leading global biopharmaceutical company announced that its trial of weight-loss drugs in the treatment of renal failure in diabetic patients had been successful, and the overall medical track was warming up. A- share's largest medical device ETF(159883) rose 2.92 per cent, constituent Haier Bio (688139) rose 9.61 per cent, Jardine (301367) rose 7.94 per cent, Novizan (688105) rose 7.38 per cent, and Opcomvision (300595) and Zhenghai Bio (300653) followed. The latest price of medical device ETF(159883) is 0.56 yuan, and the intraday turnover has reached 40.6946 million yuan, with a turnover rate of 1.84.

Recently, Yongying Medical Device ETF fund manager Chu Kefan put forward a future outlook for the medical device industry: the value of medical device investment is outstanding, and the three factors that suppressed the medical sector in the early stage, such as anti-corruption, collection and high performance base, are gradually improving. First, in October, the sales data of listed companies in the third quarter will be disclosed one after another. The medical anti-corruption that investors are very concerned about recently may be more emotional before, and the quantitative impact on fundamentals has not formed a consistent expectation. The actual impact of anti-corruption on the performance of listed companies will be known in the near future. Second, in the near future, we can focus on the recent results of centralized procurement such as chemiluminescence in medical devices. If the price reduction of centralized procurement is relatively mild, and the high-quality tracks in medical devices, such as orthopedics and IVD, can exchange price for volume in centralized procurement and increase the sales volume and market share of domestic manufacturers, the relevant companies are expected to usher in the valuation repair after the centralized procurement policy is cleared. Third, near the end of the year, the market will do valuation switch, gradually switch to 2024 valuation, medical device plate COVID-19 related business this year can be basically cleared, the plate 24 years of year-on-year performance is relatively optimistic, the end of the year valuation switch for medical devices as a whole is relatively friendly. Fourth, continue to pay attention to the breakthrough of new technologies in the field of medical devices, especially the progress of product research and development and approval of domestic companies, which will bring continuous catalysis to the medical device market.

the underlying index of the medical device ETF, the all-index medical device index, will undergo an index adjustment in December. at that time, some stocks that no longer meet the criteria for index compilation will be removed from the index, while some high-quality medical device companies will be newly included in the index. for example, a medical imaging leader will most likely be included in the index in this adjustment. Regular adjustment of the index is like metabolism, which can make the index better reflect the changes of the market, maintain an accurate description of the medical device industry, and maintain the lasting vitality of the index.

For the medical device segmentation track, Minsheng Securities's latest research puts forward the following points. IVD: Chemical luminescence technical barriers are high, the localization rate is low, with the collection policy gradually promote the landing, graded diagnosis and treatment policy to further promote, is expected to accelerate import substitution, improve the detection penetration rate. High-value consumables: Q3 policy changes overlay conventional surgery off-season disturbance industry fundamentals, short-term priority attention to external disturbances under Q3 surgery volume still shows a strong rigid direction, followed by the recommended policy shift after a greater recovery elasticity of the field. Short-term recommendations for rehabilitation, electrophysiology, nerve intervention and large-size stent areas, medium-term focus on Q3 transient effects, Q4 and early next year is expected to appear in the field of continuous repair of orthopedics and anastomoses. Instruments and equipment: domestic substitution trend unchanged, pay attention to the export opportunities of instruments and equipment. With the enhancement of domestic enterprises' product strength and the increase of the market coverage area, the policy of payment for scientific instruments will increase the demand for vocational education market. Under the same trend, the demand for government, scientific research and medical terminals is expected to accelerate the recovery. Focusing on the incremental market opportunities of clinical testing equipment, liver elasticity testing equipment testing is expected to benefit from the approval of NASH new drugs and the expansion of GLP-1 drug indications, and Huada Intelligent Sequencer DNBSEQ-G99 approved for clinical testing, it is expected to enjoy the double benefits of domestic substitution and testing project expansion to join the release. Low-value consumables: focus on the GLP-1-related upstream auxiliary package demand increase and potential domestic manufacturers to cut into the supply chain opportunities, focus on the post-epidemic downstream demand recovery, inventory replenishment, and supply-side pattern optimization of the relevant upstream consumables areas.

[Lending industry representative index ETF, low layout medical device sector]

According to the data, the Medical Device ETF(SZ159883) is currently the largest A- share medical device industry ETF, tracking the CSI All-Index Medical Device Index, which has been included in the scope of interconnection. One refers to the coverage of medical equipment, high and low value medical supplies, IVD, medical beauty four sub-areas, a comprehensive characterization of the-share medical device industry development, Meirui Medical as the first weight accounted for nearly 15%. After the latest sample, the medical device ETF's stock content of the board has recently exceeded 20%, embarking on the fast lane of the board, with outstanding index innovation attributes.

As of October 10, 2023, the latest PE valuation of the underlying index is 27.4 times, which is lower than the time range of nearly 80% since the index was released. In the future, in the "post-epidemic recovery", innovation iteration, domestic substitution process acceleration, innovation out of the sea international upgrade of the logical resonance, the domestic medical device market will open the trillion-scale road, the sub-track full bloom, from follow-up to lead, the golden age of domestic equipment or is coming. On-site can be traded efficiently through 159883, and off-site connections 013416 can be laid out.