A[The concept of innovative drugs continues to fall, and many stocks such as Jiankey Technology continue to fall.] On August 31, the concept of innovative drugs continued to fall in the afternoon, and Jiankey Technology fell to the limit of 20cm. Previously, Yuheng Pharmaceutical, Hansen Pharmaceutical, Baihua Pharmaceutical fell to the limit, and many stocks such as Wanbang Pharmaceutical, Tuojing Life, Zhongguancun, Longshen Rongfa, and Frontier Biotech fell more than 8%. A[Two-way acceleration of innovation overseas, semi-annual reports of pharmaceutical companies release signs of recovery] On August 31, Wind data showed that as of 22:50 on August 30, a total of 508 A-share listed pharmaceutical companies disclosed their 2026 semi-annual reports, and 191 companies achieved a year-on-year increase in net profit attributable to their parent companies, of which 40 companies’ net profit attributable to their parent companies increased by more than 100% year-on-year. Analysts believe that under the background of the new cycle of the pharmaceutical boom, the domestic innovative drug industry chain has accelerated its rise. In recent years, the state has taken multiple measures to support the development of innovative drugs across the entire chain. By adding multi-dimensional advantages such as talent reserves and R&D efficiency, Chinese innovative pharmaceutical companies have gradually become globally competitive. At the same time, some multinational pharmaceutical companies are facing the dilemma of "patent cliff" one after another, and the demand for external procurement and expansion of innovation pipelines is increasing day by day. Domestic innovative pharmaceutical companies are following the trend and realizing overseas innovation in the form of business development (BD) such as overseas licensing. This field is expected to start a new round of high prosperity cycle. (China Securities Journal) A[R&D vitality bursts, A-share semi-annual report outlines innovation picture] August 31st, in the first half of 2026, a group of A-share industry leaders continued to irrigate the soil of innovation with R&D "living water", and R&D investment accelerated into corporate performance growth. Many companies delivered outstanding results in hard technology tracks such as AI computing power, new energy, and innovative drugs. According to incomplete statistics, as of August 30, more than 5,500 A-share listed companies disclosed their R&D investment in the first half of the year, with a total R&D investment of more than 810 billion yuan, a year-on-year increase of more than 7%. In terms of R&D scale, more than 1,200 companies have invested more than 100 million yuan in R&D, and more than 900 companies have invested more than 10% in R&D investment in operating income (referred to as "R&D intensity"). Judging from the increase in R&D investment, more than 2,800 companies have achieved year-on-year growth in R&D investment, accounting for more than 50% of the total. Among them, more than 1,200 companies have increased R&D investment by more than 20%. (Shanghai Securities News)
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