Renowned fund managers have frequently appeared on the subscription allocation lists for fixed increases, with pharmaceuticals likely to become one of the structural main themes in the second half of the year.

As the technology sector experiences high-level fluctuations, the previously sluggish pharmaceutical sector is now witnessing a "valuation repair." According to Wind data, by the end of July, several innovative drug ETFs have rebounded over 20% from their year-to-date lows, attracting more than 10 billion yuan in total investments, with some active equity funds focused on pharmaceuticals seeing gains of over 35%. Additionally, renowned fund managers such as Zhu Shaoxing and Xie Zhiyu have recently appeared on the allocation lists for pharmaceutical stock private placements, further intensifying market interest in the pharmaceutical sector. Looking ahead, institutions believe that pharmaceuticals are likely to become one of the structural main lines in the market for the second half of the year, with innovative drugs and CXO as key areas to watch.