Games+film and television strengthening

On July 26, the A -share opened high and rebounded after the short -term panic was killed at the beginning of the market. Real estate stocks have strong all day, resource stocks have stopped falling, and coal, gold, and lithium ore multi -line in advance. New energy tracks generally recovered, and photovoltaic has won more funds. Solid stocks have a shrinking trend throughout the day, and exceeding 3,500 shares flutter. As of the closing, the Shanghai Stock Exchange Index rose 0.83%to 3277.44 points, the Shenzhen Stock Exchange Index rose 0.95%, the GEM index rose 0.31%, and the science and technology innovation of 50 rose 1.01%; Essence The city sold only 834.7 billion yuan throughout the day, and continued to reach a new low of nearly three months. The same period last day was 862.2 billion yuan.

The northbound funds continued to follow the large market shrinkage, only 80.5 billion yuan throughout the day, a new low of 2 months; a single -sided net purchase of 7.257 billion yuan in the day, of which 5.072 billion yuan was bought at the Shanghai Stock Connect, and the Shenzhen Stock Connect net bought 21.85 100 million yuan. Foreign capital has been unknown since July 15th, and has maintained the rules of flowing in the day the day.

Data source: wind

Recently, the pharmaceutical sector is frequent. The exemption of Beijing DRGS, the adjustment of the price of medical services, and Azf's approval are expected to be implemented. However, the overall pessimism of the sector still exists.

On July 19, relevant departments issued a notice of price management of medical services. The "Notice" pointed out that priority selection prices from the treatment, surgery, and traditional Chinese medicine have been adjusted for a long time and have technical labor value. Based on the innovative medical technology of clinical value, good measures such as accelerating price review are given, combined with the management measures for the except of DRG payment technologies on DRG on July 13 to facilitate the medical service industry.

The Fund's second quarterly report disclosed that the medical warehouse of non -pharmaceutical active funds was a new low -matching thirteen -year low. The pessimism of pharmaceutical pessimism began in the third quarter of 2021 was performed in the fourth quarter of 2021. During the process of valuation adjustment of many pharmaceutical assets, it gradually entered a reasonable range. Although the low match in the first quarter of 2022 was reduced, in the second quarter of 2022 It has not continued, the degree of low degree is further improved, and pessimism is the extreme.

From the fundamental point of view, the growth rate of investment and financing in leading indicators has also increased marginal increases. In June 2022, 36 financing incidents accumulated in the domestic biomedical field, with a total financing of 836 million US dollars, an increase of about 4%month -on -month; medical treatment in June 2022 in 2022; medical treatment in June 2022 A total of 43 financing incidents occurred in the field of equipment, with a total financing of 940 million US dollars, a significant increase of 252%from the previous month.

In the future, the collection of drugs and consumables has gradually entered normalization, the rules are developed scientific, and the expected pessimism is expected to gradually alleviate. The interim reports are released. The CXO and IVD sections are expected to continue the previous prosperity and fulfill the performance of medium and high -speed growth. It is expected that the strong is Hengqiang. In addition, with the recovery of domestic economic life and the arrival of school summer, the terminal needs represented by consumer medical care are also expected to be repaired. Investors who are optimistic about the medium and long -term promising pharmaceutical sector can pay attention to the current emotional base+valuation base opportunity (see "Medicine: Short -term Care and Optimism, Long -term bottom upward"), and you can also pay attention to the vaccine ETF (159643).

Data source: wind

On July 26, the film and television and the game industry of adversity continued to strengthen. Relevant departments issued the "Opinions on Promoting the High -quality Development of Foreign Cultural Trade" to promote outstanding cultural products to go global. Recently, high -quality films are scarce affecting the performance of the domestic film market's box office market. The expansion of film content imports can also supplement the current film market, driving the box office to accelerate repair.

In addition, the gaming industry has a larger scale and advantage of the sea, and its support is expected to be strengthened. After the release of the version number of the three batches of the version number in April, June, and July, the rhythm of the version number distribution is tending to be normalized. Under the trend of high -quality and diversified industries, game manufacturers have continued to improve gaming research and development and operation capabilities. The life cycle and user payment cycle of game products have been extended, and long -term profitability has been improved.

Data source: wind

On July 21, 22, the relevant departments announced a fine of 8.026 billion yuan in Didi. Didi punishment to a certain extent reflects the increasingly clear direction of Internet policy supervision, and it is expected to boost the emotions of the sector in the short term. The seventh consecutive quarter of the 2022Q2 Media Internet Industry Fund is lower than the standard ratio. Current performance base+emotional bottom+policy bottom, investors can continue to pay attention to adversity film and television ETF (516620), game ETF (516010), and game Shanghai and Hong Kong Shenzhen ETF (517500).

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