China Healthcare: Crowding monitor: China pharma

研报英文原文证据摘录

China Healthcare: Crowding monitor: China pharma

Global Research

9 July 2026ab

China Healthcare Equities

ChinaCrowding monitor: China pharma

Healthcare

Anita Wei

Most crowded stocks and biggest movers among our coverage Analyst

Within our pharma coverage, Huadong, Simcere and Sino Biopharm were the most anita.wei@ubs.com

crowded longs and United Lab, 3SBio and Hansoh were the most crowded shorts, as per +852-2971 7459

data collected on 7 July 2026 (Figure 1Crowdingscoresforstocksinourpharmacoverage). In the two weeks between 23 June to 7 July, Chen Chen, PhD

long positioning increased most for Kelun Pharma, CSPC and Hengrui-H, while short Analyst

positioning expanded most for Hansoh, United Lab and 3SBio (Figure 2Crowdingscorechangesoverthepasttwoweks). S1460520100001

chen-zb.chen@ubs.com

Longs: most crowded as of 7 July, as per UBS Quant crowding data +86-10-5832 8201

Huadong.The company reported positive phase 2 data for HDM1005 (GLP-1/GIP) at the Liz Han, CFA

American Diabetes Association (ADA) 2026 Scientific Sessions, with a 13.3% weight Analyst

liz.han@ubs.comloss at week 22 versus 2.45% for the placebo. V30 Sinclair Viora RF obtained the

+852-2971 6106

medical device registration certificate on 24 June. Huadong's mifanertinib passed

preliminary review for the 2026 NRDL (national reimbursement drug list). Simcere. We Aaron Guo, CFA

attribute the long skew to: 1) positive sales momentum for insomnia drug Quviviq Analyst

aaron.guo@ubs.com

(daridorexant); 2) the stock's relatively inexpensive valuation; and 3) the release of

+852-2971 7705

strong 2026 guidance. Sino Biopharm. The company signed two strategic deals in one

day on 8 July: the PDE3/4 out-licence to AstraZeneca and the in-licence from GSK for the David Guo, PhD

China rights of two respiratory products.