Wind data show that in the past April, brokerages have investigated more than 600 A-share listed companies. From the perspective of industry distribution, the attention of brokerages to the pharmaceutical and biological industry has increased significantly, and a total of 94 companies in the industry have accepted the research of brokerages, ranking first in the number of industries. Pharmaceutical ETFs grew rapidly in April. In the view of the industry, the two major supports from performance and policy will make the pharmaceutical industry usher in a structured market, and the market opportunities in the field of traditional Chinese medicine and innovative drugs deserve further attention.

Brokerage frequent research

As a listed company mainly engaged in the research and development, production and sales of medical diagnostic equipment, in April, opened a total of 106 (times) of medical brokerages, ranking first among listed companies surveyed by brokerages during the same period. From the survey minutes disclosed by the company, the reasons for the growth of the company's net profit in the first quarter, the outlook for 2023 business conditions and the level of the company's net profit margin in the next few years have been concerned by brokerages.

There are not a few pharmaceutical and biological industry companies that have recently received high attention from brokerages like Opening medical. Wind data show that throughout April, A total of 635 A-share listed companies obtained securities brokerage research, according to Shenwan level of industry division, 94 from the pharmaceutical and biological industry, the number of the first, East China medicine, Huaxia Ophthalmology, Changchun high-tech, health yuan, new industry, international medicine, etc., is the preferred target of securities brokerages. From the disclosed research minutes, securities companies pay more attention to topics including listed companies' prospects for 2023 business conditions, the company's business conditions in the first quarter of 2023, the reasons for the growth of important product revenue, and the impact of collection on some businesses and products.

It is worth noting that while listed companies in the pharmaceutical and biological industry have received intensive attention from brokerages, pharmaceutical ETFs are also one of the recent favored directions of funds. Wind data show that as of the end of April, the share of pharmaceutical ETF increased by 9.927 billion, ranking first in the number of ETFs in various industries; Medical device ETF, pharmaceutical ETF, pharmaceutical ETF and other industry ETFs, the share of the month increased by more than 300 million.

Bullish on two segments

For the future allocation value of the pharmaceutical and biological industry, Chen Tielin, pharmaceutical industry analyst of Deppon Securities, believes that the industry is expected to usher in a "Davis double tap" in 2023, and the two major supports from performance and policy will make the industry usher in a structured market. "In terms of performance, the recovery of medical treatment and consumption is clear, and the performance of the pharmaceutical industry is good in 2023; In terms of valuation, the policy focus is gradually shifting to increased state investment in healthcare. The pharmaceutical market continues to be strong, and pharmaceutical consumption, pharmaceutical technology and pharmaceutical manufacturing will rise in turn."

In the field of subdivision layout, the China Securities Journal reporter found that the recent securities brokerages are more optimistic about the two major directions of traditional Chinese medicine and innovative drugs.

In mid-April, the "14th Five-Year Plan" Chinese medicine culture promotion project implementation Plan was released, in the view of Ping An Securities pharmaceutical industry analyst Ye Yin, this is following the "14th Five-Year Plan" Chinese medicine development Plan, the policy further deepened and landing. "The standardization, construction and publicity of the Chinese medicine industry of favorable policies frequently, the industry boom continues to improve, the Chinese medicine industry is about to enter a full range of high-quality development stage, good in the field of Chinese medicine production, research and development has a deep accumulation of pharmaceutical companies."

For innovative drugs, Yang Song, chief analyst of the pharmaceutical industry at Tianfeng Securities, said that he is optimistic about the follow-up growth momentum of the innovative drug sector, and suggested paying attention to international top conferences and technology platforms. Some industry conferences will be held in the near future, and a number of innovative drug companies in China will disclose the progress of research projects, and the relevant stock prices are expected to be catalyzed. In addition, the realization of value from technological breakthroughs remains noteworthy.

Author China.org.cn