[CITIC Securities: The global AI pharmaceutical market is expected to exceed US$46 billion in 2035] On October 15th, a CITIC Securities research report believed that AI has reshaped the underlying changes in pharmaceutical logic and accelerated its commercialization breakthroughs. Traditional pharmaceuticals are faced with the dilemma of the "Double Ten" law of high investment, long cycle, and low success rate. AI technology has fully penetrated into core pharmaceutical links such as target identification, virtual screening, new design, ADMET prediction, and automated synthesis, effectively breaking the throughput limit of traditional high-throughput physical blind screening, and greatly improving pharmaceutical efficiency and success rate. Currently, the AI ​​​​pharmaceutical industry chain has evolved into a network-like empowerment system with platforms and technology centers as the core, with deep collaboration between upstream, midstream and downstream, and has shown a development trend in which multiple business models are compatible and advancing side by side. The global AI pharmaceutical market will be approximately US$2.49 billion in 2025, and is expected to exceed US$46 billion in 2035, with a CAGR expected to exceed 33%. The Chinese market is growing at the same pace as the world and is expected to become one of the most certain incremental markets.