Analysis of the Strong Performance of Hainan Haiyao (000566): Driving Factors and Sustainability Judgment

Hainan Haiyao is a comprehensive pharmaceutical manufacturing enterprise mainly engaged in the R&D and production of chemical APIs and Chinese patent medicines [0]. In December 2025, the company obtained the marketing authorization holder qualification for Shuangshen Huoxue Tongluo Granules, which is a major positive development [0]. At the same time, the company benefits from three popular concept sectors: innovative drugs, Hainan Free Trade Port, and state-owned enterprise reform [0][3].
In terms of stock price performance, the closing price on November 14, 2025 was 6.77 yuan, with a single-day increase of 10.08% and a cumulative weekly increase of 9.37% [2]. Fund flow data shows that main players had a net inflow of 219 million yuan this week, retail investors had a net inflow of approximately 89.9943 million yuan, and Shenzhen-Hong Kong Stock Connect holdings accounted for 37.0% of tradable shares [2].
In terms of industry background, the innovative drug sector’s revenue increased by 23.34% year-on-year in the first three quarters of 2025, the CITIC Pharmaceutical Index rose by 3.29% this week, and the pharmaceutical and biological sector as a whole outperformed the broader market [4][5].

1. Synergy between Concepts and Fundamentals
   : The approval of innovative drugs (fundamentals) and Hainan Free Trade Port policies (policy aspects) form a dual driving force, enhancing market confidence [0][2].
2. Increased Capital Attention
   : Large net inflows from main players indicate institutional optimism about the company’s prospects, and the high holding ratio of Shenzhen-Hong Kong Stock Connect reflects foreign investors’ interest [2].
3. Industry Trend Resonance
   : The company’s performance aligns with the upward trend of the innovative drug sector and the pharmaceutical industry as a whole, benefiting from the sector’s beta market [4][5].

• Short-term market fluctuation risk: After a rapid rise, it may face profit-taking pressure [1].
• Industry competition risk: The pharmaceutical industry has fierce competition in innovative drug R&D, and subsequent product pipelines need continuous follow-up [0].
• Policy change risk: Adjustments to policies related to the Hainan Free Trade Port may affect the company’s business layout [3].

• Innovative drug expansion: Use newly approved products to enrich the pipeline and improve profitability [0].
• Free Trade Port dividends: Leverage Hainan’s policy advantages to expand international markets or reduce costs [3].
• State-owned enterprise reform: The advancement of reform is expected to improve the company’s operational efficiency and governance level [0].

Hainan Haiyao’s recent strong performance stems from the superposition of fundamental improvements and policy concepts, with fund flow and industry trends providing support. Investors should comprehensively consider the company’s long-term development potential and short-term market fluctuations, and pay attention to subsequent product R&D progress and policy dynamics [0][2][4].