On April 15, China's A-share market opened higher but closed lower. The ChiNext Index hit a new high since June 19, 2015, during the session before retreating and falling over 1%, ending a five-day winning streak. At the close, the Shanghai Composite Index edged up 0.01%, while the Shenzhen Component Index dropped 0.97%. The ChiNext Index declined 1.22%, and the STAR Market Composite Index rose 0.33%. The total trading volume for the Shanghai and Shenzhen markets reached 2.42 trillion yuan, an increase of 31.5 billion yuan from the previous session. More than 3,500 stocks declined across the market.
The healthcare sector bucked the trend and rose sharply. Fujian Snowman Group Co.,Ltd. secured its second consecutive daily limit-up. Tianjin Sinobioway Sunlake Pharmaceutical Co., Ltd., Borui Pharmaceutical, Jinling Pharmaceutical, and Luyan Pharma also surged to the daily limit.
The computing power leasing concept saw repeated strength. Litong Electronic notched its second straight daily limit, while X-Chuang Data and Hongjing Technology posted significant gains, continuing to set new historical highs. The commercial aerospace concept was also active, with Shenjian Shares hitting a daily limit and a fresh record high, and Hualing Cable also reaching the upper limit.
On the downside, the lithium battery concept underwent a collective adjustment. Haike Xinyuan fell over 12%, while Furong Group plunged to the daily limit and华盛锂电 dropped more than 8%. Computing hardware stocks retreated after early gains, with Tefa Information, Xinyisheng, and Shijia Photonics all declining. The memory chip concept weakened, with Dawei Shares touching the daily limit.
Among notable individual stocks, Huayuan Holdings, which had recently recorded six consecutive daily limit-ups, continued its涨停streak at the open but then plummeted sharply and hit the lower limit in the afternoon,上演a dramatic "heaven-to-earth" reversal. On the evening of April 14, Huayuan Holdings issued a volatility announcement stating that the ongoing restructuring would not lead to significant changes in the asset or business structure of its controlling shareholder, Huayuan Group. It clarified that the move does not involve changes to the company's own assets or business structure, does not constitute a major asset reorganization, and will not result in a change of the company's actual controller.
In the Hong Kong market, as of 3:30 PM, the Hang Seng Index was up 0.5% and the Hang Seng Tech Index had gained 1.4%. Innovative drug concepts led the gains, with Xuanzhu Biopharm surging over 14%, followed by GenFleet Therapeutics and RemeGen. Major technology stocks collectively advanced, with JD-SW rising over 5%. Baidu and Alibaba both gained more than 3%, while SMIC and Bilibili increased over 2%.
Regarding the future outlook for the innovative drug sector, BOC Securities believes that as risk appetite recovers and the market trends towards a rebound, the growth elasticity logic inherent in the innovative drug sector, as a growth-oriented track, may not yet be fully priced in. Historically, uptrends in the innovative drug sector's ROE (Trailing Twelve Months) have corresponded with its trend-driven market performance. Since 2025, catalyzed by high overseas demand and the dissipation of policy uncertainties, the innovative drug sector's ROE (TTM) has shown a clear recovery trend. However, the market performance has not fully reflected this change, suggesting the potential for the growth elasticity narrative of innovative drugs to further unfold.
Comments