Chinese Innovative Drugs Set Record Share of ESMO Late-Breaking Abstracts; CSOP Hang Seng Biotech ETF (03174.HK) Rises 0.81% Intraday

NewTimeSpace News: As of October 26, 2026, CSOP Hang Seng Biotech ETF (03174.HK) rose 0.81% intraday to a latest price of HK$3.488, with an opening price of HK$3.484, a high of HK$3.496, a low of HK$3.472, and an intraday amplitude of 0.69%. The ETF traded 104,700 shares with a turnover of HK$364,800, an average price of HK$3.485, a premium rate of 0.94%, and a turnover rate of 0.04%. Its current net asset value per unit is HK$3.4556, and its assets under management stand at HK$888 million.

NewTimeSpace understands that CSOP Hang Seng Biotech ETF (03174.HK) is managed by CSOP Asset Management Limited and closely tracks the Hang Seng Hong Kong-Listed Biotech Index. The Index is designed to reflect the overall performance of the 30 largest biotechnology companies listed in Hong Kong that are also eligible for Stock Connect, including biotechnology companies listed under Chapter 18A of the HKEX Main Board Listing Rules that are not yet profitable but hold relatively high research and development potential. As of October 16, 2026, the Index's top ten constituents were BEONE MEDICINES, WUXI BIO, INNOVENT BIO, WUXI APPTEC, CSPC PHARMA, AKESO, SBP GROUP, HANSOH PHARMA, GENSCRIPT BIO and SKB BIO, together accounting for 72.32%. In terms of implementation, the ETF adopts a physical representative sampling strategy, investing up to 100% of its net asset value in representative securities highly correlated with the Index, with any constituent's deviation from its Index weight capped at 3%; it may also hold no more than 10% of its net asset value in financial derivative instruments such as futures and swaps for investment and hedging purposes. As of October 23, the ETF had assets under management of HK$888 million and a net asset value per unit of HK$3.4556.

On the news front, the 2026 Congress of the European Society for Medical Oncology (ESMO) is being held in Madrid from October 23 to 27. Chinese innovative drug studies account for roughly one-third of all late-breaking abstracts (LBAs) accepted at the congress, a record high, with several studies elevated to the highest-profile Presidential Symposium sessions. The LBA sessions have long been regarded as the highest-profile data release window in global oncology, and the rising Chinese share indicates that domestic innovative drugs are moving from early-stage efficacy demonstrations toward global Phase III validation.

GUOSEN SECURITIES believes that the upcycle across innovative drugs and their supply chain continues, and that the ESMO congress is a near-term catalyst worth watching; most domestic innovative drug companies have already entered the volume-expansion phase for major products under medical insurance, driving rapid revenue growth, while the second wave of innovation going global is about to enter its harvest period as the industry moves into a global commercialisation stage. The broker also cautioned that clinical failure risk is inherent to innovative drug development, that clinical success rates are structurally low, and that data volatility in a single asset can amplify stock-specific risk.