Home Business Pharmaceutical and Biological Industry Cross-Market Weekly Report: Bottom or Initially Optimistic about the Allocation Value of the Hong Kong Stocks Pharmaceutical Sector_ 东方 Fortune.com

Pharmaceutical and Biological Industry Cross-Market Weekly Report: Bottom or Initially Optimistic about the Allocation Value of the Hong Kong Stocks Pharmaceutical Sector_ 东方 Fortune.com

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Market review: Last week, the A-share pharmaceutical index (Shenwan, the same below) rose by 2.25%, outperformingCSI 300 The index was 2.21pp, outperforming the ChiNext Composite Index by 1.69pp, and ranked fourth among 28 sub-sectors. After a long period of bottom consolidation, the pharmaceutical industry began to return funds. The Hong Kong stocks Hang Seng Medical Health Index closed down 6.2% last week, underperforming the Hang Seng China Enterprises Index by 4.6pp, and ranked 11th among the 11 Wind Hong Kong industry sectors.

Listed company research and development progress tracking: last week,Betta PharmaceuticalsNewly accepted clinical applications such as BPI-442096 tablets from China and Chia Tai Tianqing’s TQH3821 tablets. Shengdia Bio’s SHR-1701 injection, Gale Bio’s TVB-2640 tablet,Hengrui MedicineThe dexmedetomidine hydrochloride nasal spray is undergoing Phase III clinical trials;BeiGeneOciperlimab injection is undergoing phase II clinical trials;East SunshinePharmaceuticals’ HEC93077 tablets and pyroglutamate ronggliflozin capsules are undergoing phase I clinical trials.

This week’s view: the bottom or the first appearance, optimistic about the allocation value of the Hong Kong stocks medical sector. The valuation contraction of traditional companies in the Hong Kong stocks medical and healthcare sector began in mid-2020 and has lasted for more than one year. The current PE valuation is close to the lowest level in history. Taking into account the positive changes in some segmented tracks or companies that are in the transition phase, there may be a basis for reversal of valuation. We believe that some high-quality companies whose valuations are close to the bottom have relatively low downside risks and should actively pay attention to high-quality targets in the sector and increase sector allocation during the process of valuation decline.recommendCinda Bio, Rongchang Biological, Nuocheng Jianhua,CSPCWuXi BiologicsMinimally Invasive Medicine, Weigao shares,Jinxin Fertility, It is recommended to pay attention toGenScript BiotechnologyJunshi Bio, Connoa, etc.

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Investment strategy in 2022: Know the changes, keep the integrity and innovate. Based on the changes and changes in pharmaceutical investment, we believe that in the future, we should actively grasp investment opportunities in the direction of innovation and internationalization.In terms of innovative drugs and vaccines, recommendCinda Bio(H), Rongchang Biological (H); CXO, recommendedWuXi Biologics(H)、Kanglong ChemicalHaoyuan PharmaceuticalMedicine Stone Technology; Equipment and life sciences, recommendedMindray MedicalMinimally Invasive Medicine(H)、Xinhua MedicalEd BioYirui Technology; In terms of innovative cutting-edge technology, pay attention to unlisted companies such as Aibo Biological; in terms of domestic consumption, recommendJinxin Fertility(H)、Common peopleWalter DyneBoya Bio

Risk analysis: the risk of drug/consumable price reduction; the industry “black swan” event; the risk of R&D failure.

(Article Source:Everbright Securities


Article source: Everbright Securities

Editor in charge: 6

Original title: Cross-market weekly report of the pharmaceutical and biological industry: bottom or initial optimism about the allocation value of the Hong Kong stocks pharmaceutical sector

Solemnly declare: The purpose of this information released by Oriental Fortune.com is to spread more information and has nothing to do with this stand.

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