Retail capital poured into pharmaceutical funds in the third quarter. The size of the Guangfa Medical Innovation Fund increased from 20 million yuan to 838 million yuan in three months, an increase of more than 40 times; the size of China Merchants Frontier Healthcare and China Merchants Healthcare Industry stocks increased to 2,276 billion yuan and 38.94 billion yuan respectively. The industry with the biggest increase in public equity positions was pharmaceuticals. Positions increased 4.1 percentage points month-on-month, the innovative drug sector rose 1.2 percentage points, and many pharmaceutical funds increased their positions in Hong Kong stocks. The fund manager determined that the market had moved into the alpha stage of individual stocks. The main investment line at the end of the year will focus on the implementation of the CRO and CDMO sector's performance, and be wary of the risk of CXO overheating in the short term.

Retail capital poured into pharmaceutical funds in the third quarter. The size of the Guangfa Medical Innovation Fund increased from 20 million yuan to 838 million yuan in three months, an increase of more than 40 times; the size of China Merchants Frontier Healthcare and China Merchants Healthcare Industry stocks increased to 2,276 billion yuan and 38.94 billion yuan respectively. The industry with the biggest increase in public equity positions was pharmaceuticals. Positions increased 4.1 percentage points month-on-month, the innovative drug sector rose 1.2 percentage points, and many pharmaceutical funds increased their positions in Hong Kong stocks. The fund manager determined that the market had moved into the alpha stage of individual stocks. The main investment line at the end of the year will focus on the implementation of the CRO and CDMO sector's performance, and be wary of the risk of CXO overheating in the short term.