Key investment points
Market review: this week, the pharmaceutical and biological index rose 2.41%, outperforming the Shanghai and Shenzhen 300 index by 4.4 percentage points, ranking first in the industry. Since the beginning of 2022, the pharmaceutical industry has fallen by 1.62%, outperforming the CSI 300 index by 2.7%, ranking 10th in terms of rise and fall. The valuation level (pe-ttm) of the pharmaceutical industry this week was 33.09 times, with a premium rate of 105% (+ 8.5pp) relative to all a shares, 54% (+ 6.2pp) relative to all A-Shares excluding banks, and 157% (+ 12.9pp) relative to CSI 300. In terms of pharmaceutical sub industry, 10 sub industries rose this week, and in vitro diagnosis was the sub industry with the largest increase, up about 13.1%. The sub industries of medical equipment and blood products ranked the second and third with an increase of about 6.5% and 6.0% respectively. The sub industry with the highest increase since the beginning of the year is in vitro diagnosis, up about 13.8%.
Pay attention to the dynamics of epidemic prevention and control in China. Recently, the number of cases of covid-19 epidemic in China has increased. As of 24:00 on January 13, there are 3431 confirmed cases in China (including 11 severe cases). In response to the epidemic, Tianjin, Shenzhen, Henan, Xi’an and other places have launched several rounds of large-scale nucleic acid testing. This week, Shenwan in vitro diagnostics rose 13.1%, several POCT stocks rose more than 50% a week, and gloves, masks and other related sectors also rose. In the short term, it is recommended to pay attention to covid-19 related industrial chain opportunities.
Elastic combination this week: Shanghai Runda Medical Technology Co.Ltd(603108) (603108), Chongqing Taiji Industry (Group) Co.Ltd(600129) (600129), Truking Technology Limited(300358) (300358), Shanghai General Healthy Information And Technology Co.Ltd(605186) (605186), Haisco Pharmaceutical Group Co.Ltd(002653) (002653).
This week’s scientific innovation board combination: Baiji Shenzhou (688235), Cansino Biologics Inc(688185) (688185), Suzhou Zelgen Biopharmaceuticals Co.Ltd(688266) (688266), Chengdu Olymvax Biopharmaceuticals Inc(688319) (68831), Aohua endoscopy (688212).
This week’s robust portfolio: Wuxi Apptec Co.Ltd(603259) (603259), Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) (300760), Jiangsu Hengrui Medicine Co.Ltd(600276) (600276), Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) (600436), Topchoice Medical Co.Inc(600763) (600763).
This week’s Hong Kong stock portfolio: Yaoming Biology (2269), Shanghai Junshi Biosciences Co.Ltd(688180) (1877), haijiya (6078), minimally invasive Siasun Robot&Automation Co.Ltd(300024) (2252), Jinxin reproduction (1951).
Risk warning: drug price reduction risk; The implementation progress of medical reform policy is lower than the expected risk; Risk of R & D failure.
