A-shares’ innovative drug sector rallied sharply today, with the sector index jumping over 4% by midday. Fifteen biotech firms including Haichen Pharmaceutical, Ruizhi Pharmaceutical, and Lianhua Technology soared beyond the 10% daily limit, continuing a powerful uptrend that began in mid-May. Standout performers include Lianhua Technology (+115% in 9 sessions), Changshan Pharmaceutical (+88%), and Ruizhi Pharmaceutical (+50%), demonstrating extraordinary momentum.
The rally follows groundbreaking presentations at the 2025 ASCO Annual Meeting, where Chinese researchers delivered 73 oral reports – a record high. Notably, China accounted for 48.4% of global ADC (antibody-drug conjugate) pipeline presentations (89 of 184 studies) and nearly half (49%) of bispecific antibody research. These developments validate China’s growing role in cutting-edge oncology therapeutics.
The sector’s explosive growth reflects both scientific progress and investor recognition of China’s pharmaceutical innovation capabilities. While valuations have expanded rapidly, the ASCO data suggests underlying fundamentals may support further upside, particularly for companies with late-stage ADC and bispecific antibody pipelines approaching commercialization.
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