Buy back Nuocheng Jianhua and increase holdings of Ailis, Zhuangran of China-Europe Fund: the innovation drug industry chain is expected to continue to drive industry growth.

On August 30th, Grace disclosed the semi-annual report of the 3 public funds she manages for the year 2025, and her hidden heavy-weight stocks were also exposed. Specifically, both China-Europe Medical Health and China-Europe Medical Innovation, which are both pharmaceutical themes, significantly increased their holdings of Zejing Pharmaceutical-U. At the same time, they added new positions in Nuocheng Jianhua-U and Ailis. Additionally, Anglichang, Shutai Shen, and Dizhe Pharmaceutical-U appeared for the first time in the holdings of the two medical-themed funds. China-Europe Mingrui Xin Qidian also bought several bank stocks, including Ningbo Bank, Agricultural Bank, Qingdao Bank, and Construction Bank. "Overall, the pharmaceutical industry will mainly rely on innovation breakthroughs, consumer recovery, and localization to maintain growth momentum in the second half of 2025. Although there are potential risks such as global economic fluctuations and trade frictions, policy support and continuous industry innovation and upgrades will provide strong support," said Grace in the 2025 mid-term report.