China Healthcare [Correction] HSBC Global Investment Summit 2026 key takeaways

Research evidence excerpt

21 April 2026

Equity Research Report

China Healthcare

Equities

Health Care

[Correction] HSBC Global Investment Summit 2026

key takeaways

China

◆ Globalisation is the major growth engine for the healthcare

sector

◆ At the upcoming ASCO meeting, China innovation will be the

key focus

◆ Maintain Buy on Innovent, Hansoh, Sino Biopharm, Pharmaron

A/H, and Wuxi Apptec A/H; Hold on Aier

We hosted company managements from 11 Chinese healthcare companies (BeOne,

Innovent, Mindray, Akeso, Hansoh, Snibe, Aier, Pharmaron, Sino Biopharma, Fosun

Pharma and Hutchmed) and four global MNCs (AstraZeneca, Gilead, Merck, and

Siemens Healthineers) at HSBC’s Global Investment Summit 2026, held on 14 to

16 April in Hong Kong, China. The following are our key takeaways:

What’s the hottest topic this year? China biotech is still the favourable subsector

with valuation upside for new markets and products. We think key data readouts

could support a market rally, e.g., the AK112 and SKB264 at American Society of

Clinical Oncology (ASCO) Annual Meeting in May. The debate and discussion in the

market are so fierce that all other companies with bispecific antibodies or antibody

drug conjugates (ADCs) have rerated over the past month. Now the key question is

what will propel China’s biotech industry to the next stage of growth. Our take is:

innovative infrastructure, such as scientists and clinical capability; fast development

capability aided by AI; new products; and demand. The sector is heavily owned and

recognised by global and domestic investors.

Linda Shu*, PhD (Reg. No. S1700522120001)

Head of China Healthcare Research

HSBC Qianhai Securities Limited

Cindy Chai* (Reg. No. S1700523040001)

Analyst, China Healthcare Research

HSBC Qianhai Securities Limited

Oliver Wang* (Reg. No. S1700523100003)

Analyst, China Healthcare Research

HSBC Qianhai Securities Limited

Andre Sun* (Reg. No. S1700526040001)

Analyst, China Healthcare

HSBC Qianhai Securities Limited

Evie Liu* (Reg. No. S1700119110001)

Associate

Shenzhen

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

not registered/ qualified pursuant to FINRA regulations

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