As of 09:40 on February 6, 2025, the CSI Hong Kong Stock Connect Medical and Health Composite Index (930965) rose 0.80%, the constituent stocks Angelalign (06699) rose 5.36%, Federated Pharmaceuticals (03933) rose 5.10%, XtalPi-P (02228) rose 4.08%, Zai Lab (09688) rose 2.70%, and Weigao (01066) rose 1.94%. Hong Kong stock pharmaceutical ETF (159718) rose 1.03%, the latest price was 0.59 yuan, and the intraday turnover has reached 3.0182 million yuan.

As of 09:41 on February 6, 2025, the CSI Pharmaceutical and Medical Device Innovation Index (931484) fell by 0.62%. In terms of constituents, Allist (688578) led by 1.28%, Baili Tianheng (688506) rose 0.76%, and WuXi AppTec (603259) rose 0.11%; Zhifei Biotech (300122) led the decline by 2.02%, Anke Biotech (300009) fell 1.81%, and Huahai Pharmaceutical (600521) fell 1.74%. The latest price of medical innovation ETF (516820) is 0.32 yuan, and the intraday turnover has reached 4.4559 million yuan.

In the long run, as of February 5, 2025, Hong Kong stock pharmaceutical ETFs have risen by 2.83% in the past two weeks. The medical innovation ETF has risen by 3.21% in the past six months, ranking 1/2 of comparable funds.

In terms of scale, the latest scale of Hong Kong-listed pharmaceutical ETFs reached 215 million yuan, a new high in January. The scale of medical innovation ETF has increased by 5.0985 million yuan in the past two weeks, achieving significant growth, and the new scale ranks 1/2 of comparable funds.

In terms of shares, the share of Hong Kong-listed pharmaceutical ETFs has increased by 44 million shares in the past three months, achieving significant growth, and the new shares rank 2/4 of comparable funds. The share of medical innovation ETF has increased by 36 million shares in the past two weeks, achieving significant growth, and the new share ranks 1/2 of comparable funds.

It is worth noting that the valuation of the CSI Pharmaceutical and Medical Device Innovation Index tracked by the Medical Innovation ETF is at a historical low, with the latest price-to-book ratio of 4.43 times, which is lower than the index of more than 86.23% in the past five years, and the valuation is cost-effective.

On February 5, the General Office of the Guangdong Provincial Committee of the Communist Party of China and the General Office of the Guangdong Provincial People's Government issued the "2025 Action Plan for Building a Modern Industrial System in Guangdong Province" to enhance basic research capabilities. We will further implement the 10-year "Zhuo Yue" plan for basic and applied basic research, and continue to invest more than one-third of the special funds for the provincial science and technology innovation strategy in basic research. Promote the construction of Guangzhou Laboratory and Pengcheng Laboratory with high standards. Promote the "laying of eggs along the way" of major scientific and technological infrastructure under construction and already built. Promote the opening and sharing of the first phase of the Spallation Neutron Source to enterprises, accelerate the construction of advanced attosecond lasers, Pengcheng cloud brain network intelligent facilities, etc., and serve the innovation of industrial technology sources. Relying on the spallation neutron source and the strong current heavy ion accelerator, the nuclear medical industry facilities will be built.

Huayuan Securities believes that the pharmaceutical industry has now shown multiple bottom signals, the impact of medical reform or gradual adjustment in place, the valuation and holdings of the sector are at a low level in recent years, and the performance in 2025 is also expected to usher in a stable recovery. Looking ahead to 2025, there are many positive development factors in medicine.

The CSI Hong Kong Stock Connect Medical and Health Composite Index selects 50 securities of listed companies in the medical and health industry with good liquidity and large market capitalization from the Hong Kong Stock Connect as index samples to reflect the overall performance of the securities of medical and health listed companies within the scope of Hong Kong Stock Connect.

According to the data, as of January 28, 2025, the top 10 weighted stocks of the CSI Hong Kong Stock Connect Medical and Health Composite Index (930965) are BeiGene (06160), WuXi Biologics (02269), Innovent Biologics (01801), Akeso Biologics (09926), JD Health (06618), CSPC Pharmaceutical Group (01093), Sinobio Biopharm (01177), Sinopharm Group (01099), Alibaba Health (00241), Zai Lab ( 09688), the top 10 weighted stocks accounted for 59.39% of the total.

Hong Kong Pharmaceutical ETF (159718), OTC Connect (Ping An CSI Hong Kong Pharmaceutical ETF Connect A: 019598; Ping An CSI Hong Kong Pharmaceutical ETF Connect C: 019599).

The

CSI Pharmaceutical and Medical Device Innovation Index selects 30 listed companies with good profitability and certain growth and R&D innovation capabilities from the listed companies in the medical and health industry as index samples to reflect the overall performance of the securities of listed pharmaceutical and medical device companies with both profitability and growth.

According to the data, as of January 27, 2025, the top 10 weighted stocks in the CSI Pharmaceutical and Medical Device Innovation Index (931484) are WuXi AppTec (603259), Hengrui Pharmaceutical (600276), Mindray Medical (300760), Aier Ophthalmology (300015), United Imaging Medical (688271), Kelun Pharmaceutical (002422), Huadong Medicine (000963), Changchun High-tech (000661), and Zhifei Biotechnology (300122). ), Pharmaron (300759), the top 10 weighted stocks accounted for 65.74% of the total.