Medical Device ETF (159883) target index hit two and a half years low

On September 21, the three major stock indexs opened down and shocked, Mao Mai Rui medical treatment fell nearly 8%, and the stock price hit a new low of more than a year. Affected by the decline in Mai Rui, the medical device sector fell across the board, and Hai Tai Xinguang, Yirui Technology, Witai Medical, Opangshi, and Aimei were the top declines.

CSI fell in the early trading of the medical device index of 2.76%, and the index reached a new low since 2020! The largest A -share -scale medical device ETF (159883) fell 2.80%in the early morning. Yuan. From the perspective of funds, the medical device ETF (159883) had purchased 57.32 million yuan in recent 10 days, with more than 200 million yuan in 60 days. The latest on -venue share of the ETF has reached 1.576 billion, a new high since its listing. Since the beginning of this year, the share of medical device ETF has increased by 665 million, and the share growth rate during the year is as high as 73%.

On the news, there are market rumors that Mai Rui Medical's export data in Guangdong Province was not well performed in August this year, and it was mainly affected by the monitoring line products. In response to Mai Rui Medical response, the company has not yet received customs related data, and the actual sales data may also be existing from customs data. In addition, the other party pointed out that Mai Rui Medical has three production lines. From the current point of view, the export performance of IVD products is still good, and the overall impact is not expected.

Open source securities have previously stated that medical equipment is mainly benefited from domestic alternative acceleration under new medical infrastructure and boosting demand for foreign markets. It is the most stable and best policy logic in the equipment sector. The serious medical sector is based on the good reputation and medical needs of the hospital. Based on the above ideas, the current focus is on the selection of stocks from the three segmented tracks, namely new medical infrastructure, serious medical services, and globalization opportunities. These sectors have stable demand and are less disturbed by public health prevention and control. The leading performance is expected to maintain stability, the profitability has continued to improve, and the valuation has been adjusted to a reasonable position.

Debon Securities believes that the bottom of the pharmaceutical valuation, the bottom of the configuration, and the bottom of the emotion is worthy of strategic allocation. Under the release of positive signals of medical insurance, the market's attention to the pharmaceutical sector has gradually increased. Medicine has been fully adjusted and valuation is at the bottom: 21M7 has been adjusted for more than 1 year, with a range of 35%. At present, the overall valuation (TTM method) of Shenwan Pharmaceutical sector is 21.6 times, which continues to be at the bottom of the valuation; 2. The full base is serious Low -match: Non -Medicine theme Fund (that is, full -base) Pharmaceutical positions have decreased from 13.7%of 2020Q2 to 6.6%of 2022Q2, a new low in the past 5 years. From the perspective of the nearly 10 years, it is also the bottom area. Suppress, recently released positive signals: ① The renewal rules for medical insurance negotiations are clearly expected. Prevention and control: Although domestic public health prevention and control has been distributed, with the improvement of public health prevention and control policies and supporting tool packages (testing, vaccine, drugs and medical treatment), domestic treatment and consumption recovery are clear. The current medicine is still in the bottom shock range, and it is worthy of all -based strategic configuration.

Southwest Securities stated that there is no need to panic, and medicine ushered in strategic allocation opportunities. The domestic policy environment eased: On the one hand, the relevant departments have clearly clarified that innovative equipment is not incorporated into the method of band, which is good for medical device innovation; on the other hand Essence Looking at the three main lines in the middle and long term: First, the pressure of medical insurance in the future will become the norm, and finding the "crossing medical insurance" variety is the key. On the one hand, looking for independent consumer varieties, on the other hand, pharmaceutical and weapon companies are expected to cross the "medical insurance conjunction" through "continuous innovation+internationalization". Second, pay attention to the demand recovery sector after public health prevention and control. Third, after the UVL incident, the importance of independent control of the industrial chain is prominent, especially the upper reaches of the pharmaceutical industry chain, including video equipment, life science products and services, biopharmaceutical and pharmaceutical equipment and consumables.

Data show that the medical device ETF (159883) is currently the largest A -share medical device industry ETF. The ETF tracking CSI refers to the medical device index, one refers to the four major sections of medical equipment, high and low -value consumables, IVDs, and medical beauty, covering the leading stocks of science and innovation boards, GEM, and motherboard medical equipment. develop.

For ordinary investors, the types of medical devices are complicated and the research threshold is high, the stocks fluctuate is large, the research of individual investors is more difficult, the borrowing index fund is more worry -free, and the investment risk of individual stocks can be decentralized. Users on the venue can pass the medical device ETF (159883), and outside the field users can pay attention to the connection fund (A share 013415, C share 013416).

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