Main points of investmentStarburstfreespinsMarket performance: last week (4Starburstfreespins.22-4Starburstfreespins.26) the pharmaceutical and biological sector as a whole rose 4.43%, ranking sixth among Shenwan's 31 industries, outperforming the CSI 300 index by 3.23 percentage points. Since the beginning of the year, the pharmaceutical and biological sector as a whole has fallen 11.97%, ranking 27th among the 31 industries in Shenwan, outperforming the CSI 300 index by 16.43 percentage points. At present, the PE valuation of the pharmaceutical biology sector is 26.3 times, which is at an all-time low, with a valuation premium of 129% over the Shanghai and Shenzhen 300s. The sub-sectors all rose, with chemical pharmaceuticals, medical devices and medical services rising 8.19%, 6.33% and 4.36% respectively. In terms of individual stocks, 394 stocks rose last week (82.6%), and the top five stocks were Dizhe Pharmaceutical-U (25.4%), Changshan Pharmaceutical Industry (23.5%), Xingqi Eye Medicine (23.1%) and Alex (22.8%). Beneficial Bio-U (21.2%). In terms of market capitalization, the current A-share Shenwan pharmaceutical biological sector has a total market capitalization of 6.16 trillion yuan, accounting for 6.95% of the total A-share market capitalization. In terms of trading volume, last week, the total turnover of Shenwan pharmaceutical sector was 307.7 billion yuan, accounting for 7.76% of the total A-share turnover, and the weekly turnover of the plate decreased by 0.28% compared with the previous week. In terms of main funds, last week, the net outflow of main funds from the pharmaceutical industry as a whole totaled 3.901 billion yuan; the top five net inflows were Changshan Pharmaceutical, Hengrui Pharmaceutical, Ganli Pharmaceutical, Lepu Medical, Renhe Pharmaceutical. Industry news: the selection results of the national centralized drug procurement (insulin special continuation) were announced on April 28, the National Drug Joint Purchasing Office announced the national drug centralized procurement (insulin special continuation) selection results table. A total of more than 35000 medical institutions participated in this follow-up purchase, with a reported demand for more than 240 million pieces of insulin, covering the second and third generation insulin commonly used in clinic. In this round of continuous procurement, 53 products from 13 enterprises participated, 49 products were selected, and the success rate was 92%. Compared with the previous collection, the selected price rose and decreased, and the overall price remained stable. The results of successive procurement will be implemented across the country in May, linking up with the previous round of collection in a smooth and orderly manner. Investment advice: the pharmaceutical and biological sector performed well last week, outperforming the market index. The current performance disclosure is coming to an end, some enterprises have come out of the epidemic base disturbance and other negative effects, the first quarter performance exceeded expectations. Recently, supporting policies for innovative drugs have been introduced one after another, and the standard for insulin collection was mild last week.StarburstfreespinsWe believe that the internal and external adverse factors that have a great impact on the trend of the pharmaceutical sector are gradually being digested, and looking forward to many positive changes in the future, the pharmaceutical sector is expected to usher in an inflection point. It is recommended to combine the performance disclosure, marginal changes in industry policies, and so on, to lay out the investment opportunities of the relevant sub-sectors. It is suggested to pay attention to the innovative drug chain, characteristic devices, brand traditional Chinese medicine, chain drugstores, medical services, class II vaccines, blood products and other sectors and stocks. Individual stock recommended portfolio: Beida Pharmaceutical, Anjes, Tebao Biology, Burson Biology, ordinary people, Baicheng Pharmaceutical, Kangtai Biology; individual stock focus portfolio: Lingrui Pharmaceutical, Yifeng Pharmacy, Haier Biology, Rongchang Biology, Nuotai Biology, Koren Pharmaceutical, Huaxia Ophthalmology and so on. Risk tips: collection policy risk; company performance lower than expected risk; emergency risk. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.
[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.