Innovative Drug Export Transactions Maintain High Prosperity! Market-Wide Exclusive Product——Innovative Drug ETF Tian Hong (517380) Cumulative Trading Exceeds 23 Million Yuan Over Three Consecutive Days

On March 12, the two markets bottomed out and rebounded, with the innovative drug sector declining. Regarding related ETFs, the Tianhong Innovation Drug ETF (517380) closed down 1.42%, with a trading volume of 17.53 million yuan, ranking first among similar funds. Its turnover rate reached 0.97%, also ranking first among peers. Among its constituent stocks, Rongchang Biotech, Yifang Biotech-U, and Sansheng Guojian, among others, declined along with the market.

Notably, Wind data shows that the Tianhong Innovation Drug ETF (517380) achieved continuous net inflows of 23.49 million yuan over the past three trading days (March 9–11, 2026), with a total net inflow of 123 million yuan over the last 30 trading days. As of March 11, 2026, the fund’s latest size was 1.82 billion yuan, ranking first among similar funds in the market.

The Tianhong Innovation Drug ETF (517380) gathers China’s core innovative drug strength and represents new productive forces, covering the entire industry chain from preclinical research to commercialization. It allows for one-click allocation of A-shares and Hong Kong stocks of innovative drugs and leading CXO companies. Supported by policy incentives, accelerated R&D, and optimized medical insurance payments, it effectively reduces investment uncertainty for individual companies and captures industry growth opportunities through comprehensive industry chain deployment. The ETF is also equipped with two OTC connecting funds (Class A: 014564; Class C: 014565).

On the news front, on one hand, according to Dongwu Securities’ roadshow information, the biopharmaceutical industry has risen to the top three pillar industries nationally, with continued policy support and the release of documents like “Several Measures to Support High-Quality Development of Innovative Drugs” promoting industry progress across the entire chain. On the other hand, Dongfang Securities’ roadshow pointed out that in just over three months this year, the total amount of external licensing for innovative drugs has exceeded 40% of last year’s total, maintaining high activity in overseas transactions. Meanwhile, many companies’ 2025 performance forecasts show nearly double the revenue, with significant improvements in profits. Additionally, domestically, leading advancements have been made in ADC and bispecific antibodies, with breakthroughs in frontier technologies such as small nucleic acids and In Vivo CAR-T. The progress in small nucleic acid extravascular delivery technology has attracted particular attention.

Industrial Securities believes that China’s innovative drugs have entered the 3.0 era, with continuous strengthening of global competitiveness. The clinical progress of overseas products will be key to valuation increases. Policy support across the entire chain and payment system optimization will help improve business models. Companies focusing on differentiated innovation and global market potential have long-term growth prospects.

Daily Economic News