Tianhong Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drugs Selected 50 ETF

517380

On May 21st, the innovative drug sector performed strongly in the Shanghai-Shenzhen-Hong Kong market, with the Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drugs 50 Index rising nearly 3%, and it is expected to have a cumulative increase of over 40% by 2025. The Tianhong Innovative Drug ETF is the only product tracking this index, with a price-to-earnings ratio at a historical low. Policy support and the concentrated harvest period for domestic innovative pharmaceutical companies bring favorable conditions to the sector, and it is expected that more catalysts will drive valuation increases in the future

同壁财经

INDUSTRIAL SECURITIES

WuXi AppTec

SLD GROUP

Hengrui Pharma

BeOne Medicines

BEONE MEDICINES

Beigene

INNOVENT BIO

WUXI APPTEC

The innovative drug sector has risen from a low position, and Tianhong Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drugs Selected 50 ETF Connect A (014564) gathers leading companies from Shanghai, Shenzhen, and Hong Kong. The index has accumulated a rise of over 40% by 2025, with a valuation at only 14% of its historical percentile

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The National Healthcare Security Administration has released a new policy, stating that the pricing mechanism for innovative drugs will no longer solely rely on price reductions, but will instead be dynamically adjusted through a combination of marketization and government regulation. The new mechanism emphasizes multiple factors such as clinical demand, research and development difficulty, and corporate willingness, encouraging companies to set their own prices and promoting reasonable returns for innovative drugs. This policy will change the negotiation strategies of pharmaceutical companies with healthcare insurance, enhance market vitality, and drive industry development

腾讯新闻 - 财经

Yinhua CSI Innovative Drugs Industry ETF

China Southern CNI HK Connect Innovative Drug ETF

GF CSI Innovative Drugs Industry ETF

Good news for innovative drugs! Medical insurance pricing will no longer solely focus on price cuts, but will be dynamically adjusted

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New State Council policies explicitly establish a 'price protection period' for innovative drugs, allowing high-level innovative drugs to set their own prices during the initial launch phase and enjoy this protection period. Centralized procurement will not touch innovative drugs, while a diversified commercial insurance payment system simultaneously opens up new space. Stimulated by this news, the A-share innovative drug sector surged strongly in the afternoon session, with multiple stocks hitting the limit up. Brokerage firms point out that the convergence of earnings realization, valuation repair, and policy catalysts may have ushered in a new wave of market activity for the innovative drug sector

Wallstreetcn

E Fund CSI 300 Health Care ETF

Guotai SSE STAR Brand Name Drug ETF

Penghua CNI HK Connect Innovative Drugs ETF

ChinaAMC CSI Biotechnology Theme ETF

J.P.Morgan Asset Management CSI Brand Name Drug Industry ETF

E Fund CSI Innovative Drugs ETF

Eastmoney Fund CSI SH-HK-SZ Brand Name Drug Industry ETF

Harvest CSI Hong Kong Connect Innovative Drugs ETF

CCB Principal CSI Innovative Drugs Industry ETF

Guotai CSI Hugangshen Innovative Drugs Industry ETF

E Fund Hang Seng SCHK Innovative Drug ETF

China Southern CSI Brand Name Drug Industry ETF

ICBCCS CSI Brand Name Drug Industry ETF

PKU HEALTHCARE

SL PHARM

HPGC

HISUN

Hvsen Biotech

YKYY

Staidson BioPharm

HENGRUI PHARMA

InnoCare Pharma

INNOCARE

RemeGen

REMEGEN

Shenwan Hongyuan

SWHY

SHCF

SWHYHK

Explosive Growth in Innovative Drugs: Top-Level Pricing Mechanism Reform, Who Will Be the Biggest Winner?

800医药

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520690

In the first quarter of 2026, China's innovative drug industry performed exceptionally well, with the total amount of out-licensing transactions exceeding USD 60 billion, nearly half of the total for the entire year of 2025. The National Medical Products Administration approved 13 innovative drugs for market launch, of which 6 are first-in-class drugs, covering key disease areas. The total number of innovative drugs under research in China reached 4,751, accounting for 33.7% of the global total, with over 45% in several cutting-edge fields. China has become the world's largest country for innovative drugs under research, with transaction volume accounting for 49% of the global total

ChinaAMC SSE Health Care ETF Initiating Fund

Bosera Hang Seng SCHK Innovative Drug Select ETF

Yinhua CNI HK Connect Innovative Drugs ETF

JPMorgan Chase

Eli Lilly

CSPC PHARMA

AstraZeneca

CITIC Securities Co., Ltd.

CITIC SEC

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

AstraZeneca PLC

Mindset Observation Institute: In the first quarter, China's innovative drugs delivered an exciting report card

中证医疗

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On April 14th, the General Office of the State Council issued "Several Opinions on Improving the Price Formation Mechanism of Pharmaceuticals," marking the transformation of the pharmaceutical pricing mechanism and promoting high-quality development in the pharmaceutical industry. The new policy formulates differentiated policies for innovative drugs and generic drugs, supports reasonable pricing for innovative drugs, breaks the restrictions of medical insurance payment standards, and encourages enterprise innovation. The generic drug industry will face reshuffling, strengthening centralized procurement regulations, and preventing the impact of low-price bidding on supply. It is expected that small and medium-sized generic drug companies will accelerate elimination, leading to an increase in industry concentration

China Merchants CSI Biotechnology Theme ETF

Huaan Hang Seng Biotech ETF

Hwabao WP Hang Seng SCHK Innovative Drug Select ETF

Hwabao WP CSI Pharmaceuticals ETF

ICBCCS SSE STAR Biology and Medicine ETF

China Southern Hang Seng Biotech ETF(QDII)

Ping An CSI Medicine and Medical Device Innovation ETF

ChinaAMC Hang Seng Biotechnology Technology ETF(QDII)

GF CSI HK Innovative Drugs Industry ETF(QDII)

Guotai CSI Bio-medicine ETF

Penghua SSE STAR Biology and Medicine ETF

China Universal CNI HK Connect Innovative Drugs Industry ETF

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Penghua CSI HK Connect Health Care Composite ETF

Founder Fubon CSI Medicine and Medical Device Innovation ETF

ChinaAMC SSE STAR Biology and Medicine ETF

Tianhong CNI BIOMEDICINE ETF

E Fund CSI Biotechnology Theme ETF

Good news! Drug prices are no longer "one-size-fits-all": Innovative drugs can increase prices reasonably, while generic drugs will face survival of the fittest

This year, China has approved more than ten innovative drugs, and the innovative drug ETF Tianhong (517380) has a trading volume exceeding 5 million yuan. The three major indices have mixed performances, with the Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drugs Selected 50 Index down 1.18%. The innovative drug ETF is the only ETF tracking this index, covering the entire industry chain. Data from the National Medical Products Administration shows that 13 innovative drugs have been approved in the first four months of this year, with a total transaction volume of over 60 billion USD for innovative drug licensing deals. Huayuan Securities believes that the innovative drug sector is experiencing a dual resonance of fundamentals and sentiment, with breakthroughs in AI pharmaceutical technology and the international expansion of Chinese innovative drugs creating a dual resonance

This year, China has approved more than ten innovative drugs, and the innovative drug ETF Tianhong (517380) has a trading volume exceeding 5 million yuan. Institutions: The sector is experiencing a dual resonance of fundamentals and sentiment

In 2025, the average number of employees in China's pharmaceutical manufacturing industry is expected to be 1.997 million, a decrease from 2.36 million in 2016. Since the drug review reform in 2015, China's biopharmaceutical industry has experienced rapid development, with a significant increase in the number of innovative drug applications and approvals. However, global tensions and market adjustments have posed challenges, leading to bottlenecks in industry development, and the decline in the average number of employees reflects this trend. Interviews with senior pharmaceutical headhunters provide profound insights into industry changes

300医药

E Fund CSI Medical Service ETF

Minsheng Royal CSI Biotechnology Theme ETF

CNI BIOMEDICINE

Dacheng CSI All Share Health Care Equipment and Services ETF

Bosera Hang Seng Health Care ETF(QDII)

The halo of 'returnees' fades, large companies become internet-oriented, AI offers million-dollar salaries, 30 maxims about 2026 from a senior pharmaceutical headhunter

Tianhong Hang Seng Shanghai-Shenzhen-Hong Kong Innovative Drugs Selected 50 ETF(517380.SH)

Good news for innovative drugs! Medical insurance pricing will no longer solely focus on price cuts, but will be dynamically adjusted

Explosive Growth in Innovative Drugs: Top-Level Pricing Mechanism Reform, Who Will Be the Biggest Winner?

Mindset Observation Institute: In the first quarter, China's innovative drugs delivered an exciting report card

Good news! Drug prices are no longer "one-size-fits-all": Innovative drugs can increase prices reasonably, while generic drugs will face survival of the fittest