"Her Power" | Shin-Yin Fund's Yang Jiannan: Deeply Cultivating the Pharmaceutical Sector and Committing to Long-Term Growth

In traditional understanding, strength is often associated with rigidity and sharpness, but the capital markets are never short of edge. Female fund managers are redefining professional strength by combining firmness and flexibility. The current “her power” breaks this binary opposition—firmness means sticking to principles and bottom lines, while flexibility signifies wisdom and guidance. Together, they forge an investment path that balances intensity and warmth, reflected in net value curves and long-term value.

Yang Jiannan, a fund manager in the Equity Investment Department of Shanghai Silver Fund, has 9.5 years of experience in securities, including 3.5 years in public fund investment. She specializes in medical investment and research, focusing on industry trend investing and seeking opportunities driven by policy changes, demand shifts, or technological innovation.

Yang Jiannan, Fund Manager, Equity Investment Department, Shanghai Silver Fund

A graduate in medicine, Yang Jiannan has been deeply engaged in niche sectors with a long-term perspective since entering the secondary market. She maintains a steady mindset, adheres to independent research and judgment, and is not easily swayed by short-term emotions or external noise. She responds to complex market environments with a stable investment rhythm.

“In terms of investment style, I adhere to sustainable growth investing, focusing on high-quality opportunities during the ‘1-10’ and ‘10-100’ growth phases of companies, balancing growth potential with risk control,” she believes.

Driven by Technology and Research

By 2025, the A-share pharmaceutical sector shows structural differentiation.

Yang Jiannan, who specializes in the pharmaceutical sector, states that investment opportunities in the pharmaceutical industry in 2026 are clear. Innovation drugs remain the core focus, requiring close tracking of global clinical development progress. Upstream sectors like CXO and scientific services are entering a boom cycle with performance realization, while some medical device companies are improving domestic operations and rapidly expanding overseas.

In the field of innovative drugs, Chinese companies leverage high efficiency and low costs to build solid barriers, with leading layouts in new targets and technologies. Breakthroughs in clinical data and small nucleic acid technologies in popular sectors are worth noting. Overseas expansion of BD products will open up sector space, and domestic markets are expected to continue growing with more companies turning profitable.

The recovery of upstream CXO and scientific services is confirmed, with strong orders in the CDMO segment. CRO is expected to bottom out and improve, and upstream scientific services are showing positive performance.

Policy adjustments have cleared the medical device sector, with domestic demand recovering and export logic materializing. High-end and equipment sectors are leading the rebound, with sufficient growth momentum.

She also points out that in 2026, attention should be paid to geopolitical risks, R&D failure risks, and increased competition in certain fields within the innovative drug and related industry chains.

Adhering to the Core Framework of Medical Investment

In the field of medical investment, rapid developments in AI and quantitative technology have attracted widespread attention. Yang Jiannan, who specializes in the medical sector, states that AI and quantitative methods are industry-wide technological revolutions that enhance information processing and research efficiency, providing valuable references for investment decisions. However, they are not paradigmatic revolutions in decision-making and do not alter individual investment frameworks.

“Technological iteration is the core driving force. As AI technology advances rapidly, the industry is expected to see breakthroughs in technology and business model innovation,” she says. The Shanghai Silver Fund equity team continuously tracks cutting-edge developments, actively learns and applies AI tools, significantly improving research efficiency and depth.

Meanwhile, the team maintains open communication, deeply researches the medical industry, and actively engages with professionals from other fields to stay updated on market perceptions and logical shifts.

In team management, she emphasizes research as the core and promotes the use of AI tools, regularly exchanging views with peers in both medical and non-medical sectors.

Finally, regarding what she wants to say to investors, Yang Jiannan hopes that through investing, they can early understand the “Dao” of life. She strives to do her best to generate investment returns for her clients.

Text by Xu Nannan, Edited by Xu Nan

(Edited by Xu Nannan)

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