Innovative Drug ETF Guotai (517110) rises nearly 2% against the trend, with funds continuously increasing positions to seize the valuation recovery window

In the afternoon of May 12th, the three major A-share indices collectively came under pressure, with the Shanghai Composite down 0.5%, the ChiNext Index down 0.62%, and market risk appetite temporarily contracting. Against this backdrop, the Guotai Innovation Drug ETF (517110) defied the trend and strengthened, rising by 1.79%, with active trading.

At the 2026 ASCO conference, Chinese innovative drugs achieved a new record with research selections, with 13 results from 12 pharmaceutical companies included in the plenary session and LBA segments, continuously enhancing the quality of clinical evidence and global influence; meanwhile, factors such as accelerated overseas expansion of domestically produced innovative drugs, normalized medical insurance negotiations, and a rebound in CXO orders resonated, driving the sector from “expectation-driven” to “performance realization.”

Several brokerage research reports reinforced the allocation logic: CITIC Construction Investment explicitly listed “Chinese innovative drugs” as one of the current core sectors for verification of prosperity in the report “Focusing on Three Main Prosperity Lines,” noting that the impressive performance at ASCO confirms that R&D capabilities have entered the first tier globally; Dongwu Securities also pointed out in their April 20 morning report that funds in the Innovation Drug ETF have been slightly net inflowing for two consecutive weeks, and the opening of the AACR conference may further catalyze the market. Considering that the current index concentration is only at the 17.5% percentile since 2020, in a low-betting environment, Guotai Innovation Drug ETF has become an efficient tool to seize the “valuation correction + performance inflection + policy support” threefold resonance.

Risk reminder: Mentioned individual stocks are only for industry event analysis and do not constitute any stock recommendation or investment advice. Short-term index fluctuations are for reference only and do not predict future performance, nor do they constitute a promise or guarantee of fund performance. Opinions may change with market conditions and do not constitute investment advice or commitments. The risk and return characteristics of funds vary; investors are advised to carefully read the fund legal documents, fully understand product features, risk levels, and distribution principles, and choose products that match their risk tolerance. Invest cautiously. For fund fee rates, please refer to legal documents.

Daily Economic News

(Author: Zhang Xiaobo)

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