The concept of innovative drugs has surged strongly, with a series of positive news for the sector. The overseas orders continue to grow significantly, with the amount of foreign patent authorizations for innovative drugs reaching 49 billion yuan from January to February 2026, a year-on-year increase of 90% based on last year's high base, already accounting for 38% of the total for the entire year of 2025. Additionally, the 117th American Association for Cancer Research Annual Meeting (AACR) will be held in San Diego, USA, from April 17 to 22. 104 Chinese pharmaceutical companies will attend with over 250 innovative drugs, including 92 ADC drugs covering popular targets such as HER2 and Trop2; there are also 66 small molecules and cutting-edge technologies such as nuclear medicine and cell therapy.
Century Securities pointed out that leading biotech companies are reaching a profit inflection point. As representative star biotechs, BeiGene and Innovent Biologics are both expected to achieve their first annual profits in 2025, marking that domestic biotech has successfully navigated a high investment, high return business model, evolving into a sustainable profit-making bio-pharma. Domestic innovative drugs are transitioning from valuation-driven to performance-driven, entering a new stage of enhanced competitiveness. We believe that domestic innovative drugs have indeed risen, and the first profits of leading biotechs have initiated a positive feedback loop of revenue supporting R&amp;D to deepen their competitive moat, further accelerating the prosperity and differentiation of the innovative drug industry. It is recommended to pay attention to biotechs that have crossed the breakeven point and whose core flagship products are still in a rapid growth phase.
As of April 1, 2026, at 13:12, the Shanghai Stock Exchange STAR Market Composite Index (000680) surged by 3.06%, with constituent stock Eddie Pharmaceuticals rising by 20.00%, Yuandong Biologics by 17.33%, Kangtuo Medical by 17.15%, and stocks like Huayu Pharmaceuticals and Yifang Biologics also rising. The STAR Market Composite Index ETF Penghua (589680) rose by 2.83%, with the latest price reported at 1.31 yuan.
The STAR Market Composite Index ETF Penghua closely tracks the Shanghai Stock Exchange STAR Market Composite Index, which is composed of the securities of STAR Market listed companies that meet the criteria set by the Shanghai Stock Exchange, and includes sample dividends in the index returns, reflecting the overall performance of the securities of STAR Market listed companies after accounting for dividend income.
Data shows that as of March 31, 2026, the top ten weighted stocks in the STAR Market Composite Index (000680) are Haiguang Information, Cambricon, Moore Threads, Muxi Co., Ltd., Zhongwei Company, SMIC, Lanke Technology, Baile Tianheng, Kingsoft Office, and Chipone, with the top ten weighted stocks accounting for a total of 23.03%.
STAR Market Composite Index ETF Penghua (589680), off-market connections (A: 023757; C: 023758; I: 024141)

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The Penghua STAR Composite Index ETF rose by 2.83%, with the innovative drug concept experiencing a strong increase. 104 Chinese pharmaceutical companies participated in the AACR conference, showcasing over 250 innovative drugs. From January to February 2026, the amount of foreign patent licensing for innovative drugs reached 49 billion yuan, a year-on-year increase of 90%. Century Securities pointed out that leading biotech companies are reaching a profit inflection point, with BEONE MEDICINES and INNOVENT BIO expected to achieve their first annual profit in 2025, marking a new stage for domestic innovative drugs. The Shanghai Stock Exchange STAR Composite Index rose by 3.06%, with many individual stocks performing strongly

腾讯新闻 - 财经

ChinaAMC SSE Health Care ETF Initiating Fund

E Fund Hang Seng SCHK Innovative Drug ETF

Tianhong CNI BIOMEDICINE ETF

Penghua China Science and Technology Innovation Board 50 Component Enhance policies ETF

ICBCCS SSE STAR Biology and Medicine ETF

China Universal 800 Health Care ETF

E Fund CSI 300 Health Care ETF

科创综指

E Fund CSI Biotechnology Theme ETF

BEONE MEDICINES

Minsheng Royal CSI Biotechnology Theme ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

ChinaAMC SSE STAR Biology and Medicine ETF

Penghua STAR 100 ETF

Penghua SSE Science and Technology Innovation Board 50 ETF

Guotai SSE STAR Brand Name Drug ETF

Penghua SSE STAR Biology and Medicine ETF

China Merchants CSI Biotechnology Theme ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

ChinaAMC CSI Biotechnology Theme ETF

BeOne Medicines

Guotai CSI Bio-medicine ETF

Yinhua CSI Innovative Drugs Industry ETF

Huaan Hang Seng Biotech ETF

INNOVENT BIO

Ping An CSI Medicine and Medical Device Innovation ETF

Guotai CSI Hugangshen Innovative Drugs Industry ETF

The Science and Technology Innovation Index ETF Penghua rose over 2.8%, with over a hundred Chinese pharmaceutical companies participating in the AACR conference, and the innovative drug concept surged strongly