As of 14:14 on February 28, 2025, the CSI Hong Kong Stock Connect Medical and Health Composite Index (930965) fell by 4.55%. In terms of constituent stocks, MicroPort Robotics-B (02252) led the decline by 15.11%, XtalPi-P (02228) fell by 10.01%, Hygeia Medical (06078) fell by 9.38%, Gushengtang (02273) fell by 9.05%, and MicroPort Medical (00853) fell by 8.67%. Hong Kong stock pharmaceutical ETF (159718) fell 3.32%, the latest price was 0.67 yuan, and the intraday turnover has reached 74.2192 million yuan, with a turnover rate of 30.97%.

The CSI Pharmaceutical and Medical Device Innovation Index (931484) fell 2.30%. In terms of constituent stocks, Huitai Medical (688617) led by 2.75%, Jiudian Pharmaceutical (300705) rose 1.03%, and China Resources Sanjiu (000999) rose 0.12%; Pharmaron (300759) led the decline by 5.27%, Yirui Technology (688301) fell 4.12%, and Hengrui Pharmaceutical (600276) fell 3.86%. Medical Innovation ETF (516820) fell 2.59%, the latest price was 0.34 yuan, and the intraday turnover has reached 53.0173 million yuan, with a turnover rate of 2.99%.

In the long run, as of February 27, 2025, Hong Kong stock pharmaceutical ETFs have risen by 4.68% in the past 1 week. Healthcare Innovation ETF has risen 0.87% over the last 1 week.

In terms of scale, the latest scale of medical innovation ETF reached 1.792 billion yuan, a new high in nearly January.

In terms of shares, the share of Hong Kong stock pharmaceutical ETF has increased by 18 million shares in the past two weeks, achieving significant growth, and the new share ranks 2/4 of comparable funds.

In terms of fund inflow, medical innovation ETF has had a net inflow of funds for 3 days in the past 5 trading days, with a total of 70.728 million yuan "absorbed", and the average daily net inflow reached 14.1456 million yuan.

The data shows that leveraged funds continue to be deployed. The latest financing purchase amount of medical innovation ETF reached 7.0173 million yuan, and the latest financing balance reached 82.6073 million yuan.

Capital Securities believes that in the context of a good margin of safety in valuation, investment in the pharmaceutical industry in 2025 can focus on two directions: "AI+" and overseas BD cashing of innovative drugs. According to the analysis of CMBC Securities, CXO industry orders are affected by the investment and financing of upstream biopharmaceutical companies, and the current global and Chinese medical and health investment and financing are picking up, and the CXO industry is in the process of recovery.

Huatai Securities pointed out that since the whole chain to support the development of innovative drugs in 2024 was proposed, the idea of innovative drugs as a national pillar industry has been stable and continuous, and as the relevant policies of innovative drugs have successively put forward a lot of support for the pricing and payment bottlenecks of the industry, directly hitting the pain points of the industry's development, innovative drugs are expected to usher in a long-term period of upgrading and development.

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.