This week, the three major indexes of the Hong Kong stock market fluctuated and strengthened, with the Hang Seng Index recording gains for three consecutive weeks.bullish line.As of Friday's close, $Hang Seng Index (800000.HK)$ the cumulative increase for the week is 2.74%, closing at 21,980.74 points; during the same period $Hang Seng TECH Index (800700.HK)$ Cumulatively increased by 1.96%, closing at 4982.96 points; $Hang Seng China Enterprises Index (800100.HK)$ In the same period, cumulatively increased by 2.32%, closing at 8080.54 points.

In terms of individual stocks, Biomedical stocks became the leaders in the rise, $ASCENTAGE-B (06855.HK)$This week, it increased by over 38% cumulatively, $REMEGEN (09995.HK)$ Cumulative increase of over 30%, $AKESO (09926.HK)$ Cumulative increase of over 19%, having risen nearly 63% since the beginning of the year.

In terms of news, ASCENTAGE-B previously announced that the clinical research results of its key products, the Bcl-2 selective inhibitor Lisaftoclax (APG-2575) and the MDM2-p53 inhibitor Alrizomadlin (APG-115), were selected for the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting.

Meanwhile, at this ASCO, REMEGEN's over 20 clinical progress or interim data for its oncology pipeline were selected for oral presentations, posters, or online displays.

China Great Wall points out that the Medical Sector is frequently benefiting from favorable policies, and the Industry is expected to steadily recover. In the short term, the previously affected inpatient market due to anti-corruption and centralized procurement in the pharmaceutical industry is expected to gradually recover, and it is recommended to pay attention to quality symbols in the formulation sector. In the medium to long term, innovative therapies have significant incremental and substitute demand, and the quantity and quality of domestic BIC/FIC Innovative Drugs are steadily improving, with broad space for domestic substitution and international expansion. It is suggested to focus on pharmaceutical companies with excellent management efficiency and high-quality product pipelines.

Policy expectations are driving the strength of real estate stocks.$RADIANCE HLDGS (09993.HK)$This week, it has accumulated a rise of over 31%.

According to the latest data from the National Bureau of Statistics, the indicators for Real Estate Development investment from January to March are still in an adjustment phase, but there are significant signs of improvement in March for the single month.

Citigroup's latest report clearly suggests that investors should position themselves in China's real estate stocks, believing that the next two years will be a key window period for industry profit recovery. The firm's analysts noted that the ongoing use of policy tools and the optimization of real estate companies' operating models will enhance asset turnover efficiency and pricing power, and the industry's ROE is expected to enter an upward channel. It is worth noting that this is Citigroup's second upgrade of the industry rating this year, having previously indicated the opportunity in February based on policy expectations.

"The third stock of new tea drinks". $GUMING (01364.HK)$ This week, it has risen over 22%, with the stock price repeatedly reaching new highs, having accumulated a rise of over 117% this year, and the total market value has surpassed 50 billion HKD.

On the news front, Gu Ming recently launched a collaboration event with "Honkai: Star Rail". According to reports, the collaboration event package sold out immediately after its release, and the mini-program crashed due to excessive instant traffic. UBS Group previously pointed out in a Research Report that Gu Ming could enhance profitability by strategically expanding its store network and launching new products, driving the annual compound growth rate of revenue to reach 19% between 2025 and 2027. CICC expects that the company's unique regional encryption and strong supply chain capabilities will bring high performance growth with continued store openings in the future.

HAITONG INT'L pointed out that in China's ready-to-drink beverage market, the number of stores ranks second only to. $MIXUE GROUP (02097.HK)$ and$Luckin Coffee (LKNCY.US)$Gu Ming has a solid supply chain foundation, high operational efficiency, and significant development potential. In terms of store expansion, Gu Ming adopts a regional densification strategy, focusing on the Consumption Upgrade demands for beverages in lower-tier cities. Regarding supply chain construction, Gu Ming has built a complete supply chain system to support high-frequency Cold Chain distribution for stores, controlling the cost of fresh raw materials close to room temperature while ensuring stable quality. In terms of new product launches, Gu Ming can rapidly follow mainstream trends in the most standardized manner, while still not lacking in innovation. For store operations, Gu Ming lays a foundation with digital automation, with franchisees fully committed to enhancing store performance.

On the other hand, the stocks that performed weakly this week are as follows:

Editor/rice