"Her Power" | Shin-Yin Fund's Yang Jiannan: Deeply Cultivating the Pharmaceutical Sector and Committing to Long-Term Growth

In traditional understanding, strength is often associated with rigidity and sharpness, but the capital markets are never short of sharpness. Female fund managers are redefining professional strength by combining firmness and flexibility. The current “her power” breaks this binary opposition—firmness means adhering to principles and bottom lines, while flexibility represents wisdom and guidance. Together, they forge an investment path that balances intensity and warmth, reflected in net value curves and long-term value.

Yang Jiannan, fund manager of the Equity Investment Department at Shanghai Silver Fund, has 9.5 years of experience in securities, including 3.5 years in public fund investment. She specializes in pharmaceutical investments and research, focusing on industry trend investing and seeking opportunities driven by policy changes, demand shifts, or technological innovation.

Yang Jiannan holds a degree in pharmaceuticals. Since entering the secondary market, she has maintained a long-term perspective, deepening her focus on niche sectors with a steady mindset. She adheres to independent research and judgment, avoiding short-term emotions and external noise, and responds to complex market environments with a stable investment rhythm.

“In terms of investment style, I insist on sustainable growth investing, focusing on high-quality opportunities during the ‘1-10’ and ‘10-100’ growth phases of companies, balancing growth potential with risk control,” she believes.

Driven by Technology and Research

By 2025, the A-share pharmaceutical sector shows structural differentiation.

Yang Jiannan, who specializes in pharmaceuticals, states that the investment opportunities in the pharmaceutical industry in 2026 are clear. Innovation drugs remain the core focus, with a need to closely track global clinical development progress. Upstream sectors like CXO and scientific services are entering a boom cycle with performance realization, while some medical device companies are improving domestic operations and rapidly expanding overseas.

In the field of innovative drugs, Chinese companies leverage high efficiency and low costs to build solid moats. Leading in new targets and technological layouts, they are making breakthroughs in clinical data and small nucleic acid technologies, which are worth watching. Overseas expansion of BD products will open up sector space, and domestic markets are expected to continue growing with more companies turning profitable.

The recovery of upstream CXO and scientific services is confirmed, with strong orders in the CDMO segment. CROs are expected to bottom out and improve, and upstream scientific services are showing positive performance.

In medical devices, policy disruptions are clearing, domestic demand is recovering, and the logic of going overseas is materializing. High-end and equipment sectors are leading the rebound, with sufficient growth momentum.

She also points out that in 2026, attention should be paid to geopolitical risks, R&D failure risks, and increased competition in certain fields within the innovative drug and related industry chains.

Adhering to the Core Framework of Pharmaceutical Investment

In the pharmaceutical investment field, rapid developments in AI and quantitative technology have attracted widespread attention. Yang Jiannan, who specializes in pharmaceuticals, states that AI and quantitative methods are industry-wide technological revolutions at the information level, helping to improve the efficiency of information processing and research analysis, providing references for investment decisions. However, they are not paradigmatic revolutions at the decision-making level and do not alter individual investment frameworks.

“Technological iteration is the core driving force. As AI technology advances rapidly, the industry is expected to see breakthroughs in technology and innovations in business models,” she says. The Shanghai Silver Fund equity team continuously tracks cutting-edge developments, actively learns and applies AI tools, significantly enhancing research and investment efficiency and depth.

Meanwhile, the team maintains open communication, deepening internal research within the pharmaceutical industry and engaging with cross-disciplinary professionals to stay abreast of market perceptions and logical changes.

In team management, she emphasizes research as the core and actively promotes the use of AI tools, regularly exchanging views with peers in both pharmaceutical and non-pharmaceutical sectors.

Finally, regarding what she wants to say to investors, Yang Jiannan hopes that through investing, they can early understand the “Dao” of life. She strives to do her best to generate investment returns for her clients.

Text / Xu Nannan Editing / Xu Nannan

(Edited by: Xu Nannan)

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