The pharmaceutical sector is broadly strengthening, with Kanghong Pharmaceutical hitting the daily limit, Hansoh Pharmaceutical rising nearly 7%, and the Pharma ETF Huaxinfu(159929) surging over 3% on high volume. Leading pharmaceutical companies are experiencing comprehensive breakthroughs in both performance and R&D, with all aspects flourishing simultaneously!

As of March 27, 2026 at 13:08, the CSI Medical and Health Index (000933) is surging strongly up 3.04%. Among constituent stocks, Zhebo Pharma is up 11.55%, Baili Hengtian is up 11.05%, Kanghong Pharmaceutical is up 9.98%, and individual stocks such as Sinocell and Xinli Tai are also moving higher. The medical ETF Huayitianli (159929) once jumped more than 3%, and is currently up 2.92%, with the latest price at 1.3 yuan. (The stocks listed above are only constituent stocks of the index and do not imply any specific recommendation)

On the liquidity front, during trading hours, the Huayitianli medical ETF had a turnover rate of 3.22%, with turnover approaching 80 million yuan. Looking at a longer time frame, as of March 26, over the past week the Huayitianli medical ETF recorded an average daily turnover of 81.0717 million yuan.

In terms of scale, the latest size of the Huayitianli medical ETF has reached 2.341 billion yuan. (Data source: Wind)

Regarding capital inflows, the Huayitianli medical ETF’s latest net capital outflow is 1.9160 million yuan. Looking at a longer time frame, over the past five trading days, the total “capital attraction” was 168.565 million yuan. (Data source: Wind)

The data shows that leveraged capital is continuing to set up positions. The previous trading day’s net margin financing purchases for the Huayitianli medical ETF were 1.5670 million yuan, and the latest margin financing balance is 72.1540 million yuan. (Data source: Wind)

On the news front, on the evening of March 25, Hengrui Pharmaceutical released its 2025 annual report. During the reporting period, the company’s revenue and net profit both hit new highs again. For the full year, operating revenue was 31.629 billion yuan, up 13.02% year over year; attributable net profit was 7.711 billion yuan, up 21.69% year over year. Sales revenue from innovative drugs was 16.342 billion yuan, up 26.09%, accounting for 58.34% of pharmaceutical sales revenue; external licensing revenue was 3.392 billion yuan, up 25.62%.

At present, Hengrui Pharmaceutical has been approved for listing in China for 24 Category 1 innovative drugs and 5 Category 2 new drugs. In addition, more than 100 independently developed innovative products are in clinical development, and more than 400 clinical trials are being conducted at home and abroad. According to the announcement, from 2026 to 2028, it is expected that about 53 innovation outputs will be approved for listing. On internationalization, in 2025, Hengrui Pharmaceutical’s BD (external licensing) cooperation model continued to innovate, resulting in 5 transactions for overseas business expansion of innovative drugs.

On the evening of March 26, Kanghong Pharmaceutical released an announcement stating that recently, its wholly owned subsidiary Chengdu Kanghong Biotech Co., Ltd. received the “Notice of Approval for Clinical Trials of Drugs” issued by the National Medical Products Administration. The drug name is “KHN922 for Injection.” At the same time, the company recently also received approval for clinical trials for multiple other Category 1 innovative drugs, covering core areas such as oncology and ophthalmology. With the addition of technology platform layouts including dual-loading ADC and gene therapy, its R&D strength continues to stand out, opening up long-term imagination space for growth in performance.

CITIC Securities said that the pace of innovative drugs going global continues to accelerate. The CXO sector benefits from the overseas order recovery and capacity expansion; industry sentiment is steadily improving upward. The performance certainty of leading companies is relatively strong, and valuation repair space is gradually opening up.

Hua Fu Securities pointed out that the external environment is unstable. Pharmaceuticals may be one of the directions for hedging, and it is worth allocating to. In the short term, the main direction may be sub-sectors with good positioning of shareholding structure, focusing on directions involving price increases or those with performance exceeding expectations. Over the medium to long term, it remains bullish on technological innovation as the clearest main line for the pharmaceutical sector in 2026, and adheres to the view of “technology first, with strong dominance in drugs and medical devices.” Specifically, for innovative drugs: focus on revenue and performance delivery, or targets with data or BD exceeding expectations, as well as cutting-edge technical platforms. For medical devices: focus on restocking of equipment and bidding/tender activities, as well as innovative consumables that benefit from centralized procurement. In addition, the cycle for adjustments to the National Essential Medicines List is clear; the release of the new catalog is imminent. The included products are expected to see volume expansion. Against the background of policy catalysts, falling prices of medicinal materials, and clearance of inventory, the traditional Chinese medicine sector is expected to reach an inflection point.

According to information, the Zhongzheng Medical and Health Index (000933) tracked by the Huayitianli medical ETF (159929) provides comprehensive coverage of subdivided areas within the pharmaceutical sector. Data shows that as of March 26, 2026, the combined share of the top ten weighted stocks of the CSI Medical and Health Index (000933) is 42.68%.

Risk disclosure: Funds involve risks; investors should exercise caution. The medical ETF is a product with a relatively high risk level (R3), and is suitable for investors whose risk tolerance assessment results classify them as more aggressive (C3) or above after evaluation by the client. The benchmark index does not fully represent the entire stock market. The average return rate of constituents in the benchmark index may deviate from the average return rate of the entire stock market. Any information appearing in this article is for reference only; investors must take responsibility for any investment actions they make independently. When investors apply for subscriptions/redemptions of ETF fund shares, the subscription/redemption agent securities firms may charge commissions at a standard not exceeding 0.50%, which includes relevant fees collected by the securities exchange, registration institutions, and others. For sales fees of other funds, please refer to the relevant legal documents such as the fund prospectus and the product information summary. When investors apply for subscriptions/redemptions of ETF fund shares, the subscription/redemption agent securities firms may charge commissions at a standard not exceeding 0.50%, which includes relevant fees collected by the securities exchange, registration institutions, and others. For sales fees of other funds, please refer to the relevant legal documents such as the fund prospectus and the product information summary.

Massive information and precise interpretation are available on the Sina Finance APP