Pharmaceutical sector keeps strengthening with multiple stocks hitting daily limit; institutions say this rally may be more durable than previous ones

Earnings
โดย 澎湃新闻·CN·Read original
Summary · why it matters

On August 13, China's A-share pharmaceutical sector strengthened, with Boji Medical and Longshen Rongfa up by the 20 percent daily limit, Fangsheng Pharmaceutical and Jiuzhou Pharmaceutical up by the 10 percent daily limit, and innovative drug companies such as Yahong Meditech, Junshi Biosciences, Dizal Pharmaceutical, and Zhongsheng Pharmaceutical rising more than 3 percent. Since WuXi AppTec released its better-than-expected 2026 interim report on August 3, the pharmaceutical sector has kept climbing, with Wanbang Pharmaceutical posting three boards in two days, Yatai Group three consecutive daily limits, and Yuyuan Pharmaceutical four boards in five days. Southwest Securities research argues that WuXi AppTec's interim net profit attributable to the parent exceeded 10 billion yuan for the first time and raised its guidance, while BeiGene, RemeGen, and Innovent Biologics released positive results at the same time, creating a sector-wide resonance effect. WuXi AppTec's first-half revenue was 28.9 billion yuan, up 38.93 percent year on year, with net profit attributable to the parent of 11.08 billion yuan, up 29.43 percent. BeiGene's first-half total revenue was 22.22 billion yuan, up 26.8 percent year on year, with net profit attributable to the parent of 3.271 billion yuan, up 627.1 percent, and it raised its full-year revenue guidance to between 44.9 billion and 46.2 billion yuan. Innovent Biologics' first-half product revenue exceeded 8.2 billion yuan, up more than 55 percent year on year. In addition, Akeso's ivonescimab injection combined with chemotherapy was approved for first-line treatment of advanced squamous non-small cell lung cancer, marking the drug's third indication in lung cancer. On August 10, China's pharmaceutical industry announced three deals, including a collaboration between BeiGene and Revolution Medicines, a partnership between Innovent Biologics and Daiichi Sankyo, and a collaboration between Gan & Lee Pharmaceuticals and Menarini, with a potential total transaction value of 726 million euros. On August 12, CSPC Pharmaceutical Group received a 30 million US dollar upfront payment from AstraZeneca. Xiangcai Securities research argues that this round of the pharmaceutical sector's rally will be significantly more durable than previous ones, based on three judgments: the pharmaceutical sector absorbing capital outflows from the technology sector, improving interim results from CXO companies, and the initial emergence of Chinese pharmaceutical companies' global expansion.

Impact on stocks 17

Biotech & Genomic Medicine▲ · 3 stocks
Akeso Inc
9926
▲ PositiveTechnologyrelevance

Ivonescimab injection combined with chemotherapy approved for first-line treatment of advanced squamous non-small cell lung cancer, a new indication.

Innovent Biologics Inc
1801
▲ PositiveDemandrelevance

First-half product revenue exceeded 8.2 billion yuan, up over 55% year on year, indicating strong demand.

Others▲ · 14 stocks
WuXi AppTec Co Ltd
603259
▲ PositiveCapitalrelevance

Better-than-expected interim report with net profit exceeding 10 billion yuan and raised guidance.

BeiGene Ltd.
688235
▲ PositiveCapitalrelevance

First-half revenue up 26.8% and net profit up 627.1%, with raised full-year revenue guidance.

Theme Impact 2

Off-coverage companies 1

Anhui Wanbang Pharmaceutical Technology Co LtdPrivate± Mixed
relevance

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