Vaccine ETF Cathay (159643) surges over 3%, with the technology innovation theme bringing opportunities to the pharmaceutical sector.

Ask AI · Under the main line of technological innovation, how can small nucleic acids and gene therapy reshape the landscape of pharmaceutical investment?

Hua Fu Securities noted that in an unstable external environment, pharmaceuticals may be one of the directions for risk hedging. In the medium to long term, it is optimistic about technological innovation as the clearest main theme for 2026, and will adhere to a strategy of “technology first, and pharmaceuticals and medical devices with strong performance.” Specifically, this includes: for innovative drugs, focusing on revenue and performance delivery, upside beyond expectations from data or business development (BD), and cutting-edge technology platforms such as small nucleic acids and gene therapy; for medical devices, for equipment, looking at replenishment cycles and procurement bidding, and for consumables, looking at innovative directions that benefit from volume-based procurement. In addition, the adjustment cycle for the National Basic Drug List is clear, and newly added products are expected to see volume expansion; the “986” allocation policy is expected to be implemented more explicitly, driving volume growth for products in the National Basic Drug List. Against the backdrop of policy catalysts, a pullback in traditional Chinese medicine (TCM) material prices, and inventory clearance, the TCM sector is expected to reach a turning point. Considering that the Central Economic Work Conference explicitly mentioned continuing to rely on domestic demand as the driving force, pharmaceutical and healthcare companies related to domestic demand may also be poised for a turning point.

The Vaccine ETF from GF Fund (159643) tracks the Vaccine Biopharma Index (980015). This index selects, from the Shanghai and Shenzhen markets, securities of listed companies involved in areas such as biological products and life science tools and services as index constituents. It mainly covers companies engaged in vaccine research and development, production, and related biotech services, to reflect the overall performance of listed securities in the field of biological vaccines and related technology.

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