Third round: ETF is set to invest in the ten-year ten-fold plan
The CSI Medical Index selects the securities of listed companies in the pharmaceutical and health industry whose business involves medical devices, medical services, medical informatization and other medical themes from the Shanghai and Shenzhen markets as an index sample to reflect the overall performance of the securities of medical-themed listed companies.
Previously, Soochow Pharmaceutical said that multiple factors supported the bottoming of the pharmaceutical sector. From a fundamental point of view, the annual medical insurance fund expenditure is about 10% growth, and the growth of the industry is guaranteed.
Compared with the 12th Five-Year Plan, the pharmaceutical industry has been upgraded from a people's production industry to a people's livelihood and a national safety strategic industry, and the status of medicine has increased significantly;
From a valuation point of view,
The pharmaceutical sector has experienced rapid declines in the past three quarters, and its PE(ttm) valuation is about 28 times, returning to the bottom of 2018 again, in the bottom area of the past decade, and its premium rate relative to the valuation of A-shares is about 80%, which is also at a relative bottom; From the perspective of chip structure, public funds' positions in medicine are also at a low point in nearly a decade.
SPDB International believes that the growth logic of the medical device industry will not change much in the time dimension of the next 10-15 years, although some medical device companies with a high proportion of domestic revenue may be disturbed by the collection policy and capital investment in the short and medium term, but the development logic of the medical device sector is clear, the growth certainty is high, and it is suitable for the long-term layout of core assets.
●Ministry of Science and Technology: The number of approved Class I new drugs in the mainland has increased from 5 to 75, and a number of domestic high-end medical devices have been put into use;
Source: Capital State
Past valuation: (public number can be searched: year month day + valuation)
Valuation data and performance of ETFs by index from January to December 2019-2021 (full summary)
Past Selection: (Menu below: ETF Tool Summary, Guide)
The third round: the ten-year ten-fold plan for the fixed investment ETF index
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Public number: ETF fixed submission ( etfdtb )