On the morning of November 9, Hong Kong Stock Connect innovative drug shares staged another rebound, with the Huabao Hang Seng Hong Kong Stock Connect Innovative Drug ETF (520880) breaking above its 120-day moving average intraday, while its underlying index climbed as much as 3%. Constituent stocks advanced broadly, as Zai Lab Ltd (ASX: ZLAB) gapped up at the open and surged over 12% at one point, Akeso Inc (ASX: 09926) gained nearly 7% in a bid for a fourth consecutive winning session, and BeiGene Ltd (ASX: BGNE), Innovent Biologics Inc (ASX: 01801), and Sino Biopharmaceutical Ltd (ASX: 01177) all rose more than 1%.

Regarding news driving the top gainers, Zai Lab's third-quarter report disclosed on November 5 showed a confirmed ORR of 81.8% for zoci in first-line small cell lung cancer, while NANETS data released on November 6 showing a confirmed ORR of 40.0% for zoci in extrapulmonary neuroendocrine carcinoma provided molecular-level support. On November 6, Akeso announced that Phase II clinical results for its PD-1/VEGF bispecific ivonescimab in perioperative treatment of resectable non-small cell lung cancer (NSCLC) were officially published in the internationally renowned medical journal Nature Medicine.

In addition, leading innovative drug company BeiGene recently delivered impressive third-quarter results. For the first three quarters, it achieved revenue of 34.993 billion yuan, up 26.8% year-on-year; net profit attributable to shareholders of 6.055 billion yuan, up 431.8% year-on-year; and non-GAAP net profit attributable to shareholders of 5.568 billion yuan, up 474.4% year-on-year. Breaking it down by quarter, Q3 alone generated operating revenue of 12.774 billion yuan, up 26.8% year-on-year; net profit attributable to shareholders of 2.785 billion yuan, up 304.3% year-on-year; and non-GAAP net profit attributable to shareholders of 2.650 billion yuan, up 274.1% year-on-year. With sustained strong earnings growth, BeiGene raised its full-year guidance for the third time this year: lifting full-year revenue from 44.9 billion to 46.2 billion yuan up to 46.3 billion to 47 billion yuan. Gross margin is expected to be in the high range of the 80% level, including the impact of product mix and production efficiency improvements.

Looking ahead, there remain many catalysts, with key milestones including the release of the new medical insurance and commercial insurance dual catalog in November, leading companies' third-quarter reports, and key approval progress for Akeso's ivonescimab. Zhang Fang, fund manager of the Huabao Hong Kong Stock Connect Healthcare ETF (159137), recently noted that focus should remain on innovative drugs and the CXO sector. For full-chain exposure to innovative drugs, pay attention to the T+0 trading tool: the Huabao Hang Seng Hong Kong Stock Connect Innovative Drug ETF (520880), whose underlying index allocates 100% to innovative drug R&D companies, with 70% of positions betting on innovative drug R&D leaders. Off-exchange feeder fund: 025221. The Huabao Hong Kong Stock Connect Healthcare ETF (159137), whose underlying index is heavily weighted in the innovative drug supply chain, with approximately 50% CXO plus 20% innovative drugs, of which the WuXi group accounts for over 40%. Off-exchange feeder fund: 026922. Data sources: Shanghai-Hong Kong-Shenzhen exchanges, China Securities Index Company, Hang Seng Index Company, and other public information. Weight data as of October 31, 2026. Fund fee rates: ETF funds do not charge sales service fees. When investors subscribe or redeem fund shares, the subscription and redemption agent broker may charge a commission of no more than 0.5%, which includes fees charged by the stock exchange and registration institution. Fund fee rates are detailed in each fund's legal documents. Special reminder: the risk level assessed by the fund manager for the Huabao Hong Kong Stock Connect Innovative Drug ETF feeder fund is R4-medium-high risk, suitable for investors with aggressive (C4) or above profiles. Risk disclosure: the index constituent stocks mentioned in this article are for display purposes only, and individual stock descriptions do not constitute any form of investment advice, nor do they represent the holdings or trading activities of any fund under the manager. The constituent stocks of the underlying index are adjusted in due course according to the index compilation rules. Any information appearing in this article (including but not limited to individual stocks, commentary, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors must be responsible for any investment decisions they make independently. In addition, any views, analyses, and forecasts in this article do not constitute any form of investment advice to readers, nor shall they bear any responsibility for direct or indirect losses caused by the use of the content herein. Fund investment involves risks, past performance of a fund does not represent its future performance, and the performance of other funds managed by the fund manager does not constitute a guarantee of fund performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!