Investment Rating - The investment rating for the company is "Buy" (maintained) [4][12] Core Views - The domestic market is poised for recovery, and overseas business is performing strongly. The company is expected to benefit from the gradual recovery of procurement in 2025, leading to a turning point in domestic operations [4][5] - The company has implemented an active dividend policy, with dividend payouts of 679 million and 1.71 billion for 2024 and 2025 respectively, reflecting a payout ratio of 6% and 65% [5] - Revenue for 2024 is projected at 36.726 billion (up 5.14%), with net profit of 11.668 billion (up 0.74%). For Q1 2025, revenue is expected to be 8.237 billion (down 12.12%), with net profit of 2.629 billion (down 16.81%), but showing significant improvement on a quarter-on-quarter basis [5] Financial Summary - Revenue and profit forecasts for 2025-2027 are adjusted, with expected net profits of 12.913 billion, 14.869 billion, and 17.143 billion respectively, and corresponding EPS of 10.65, 12.26, and 14.14 [5][7] - The company’s revenue for 2023 was 34.932 billion, with a year-on-year growth of 15%. The gross margin is expected to remain stable around 63.5% to 64.2% over the forecast period [7][9] - The company’s international business, particularly in in-vitro diagnostics (IVD), is expected to continue growing, with international revenue contributing significantly to overall performance [5][6] Business Performance - The company’s life information and support business generated 135.57 billion in revenue (down 11.11%), while the IVD business achieved 137.65 billion (up 10.82%), with international IVD business growing over 30% [5] - The company is transitioning towards a digital and intelligent ecosystem solution provider, leveraging AI and big data to enhance service offerings [6]

0:00 21世纪经济报道记者 杨坪 深圳报道 5月19日，由深圳证券交易所主办的2025全球投资者大会在深圳举行，并购重组成为大会的热议话题之 一。 "从并购重组的政策来看，实际上我们看到了有很积极的影响。第一点就是信心开始重拾。半导体是一 个非常重要的产业，也是在2024年年底就开始出现了比较大的反转，信心提升这一块，不管是买方还是 卖方还是投资机构，都开始蓄力做并购重组，有幸的是元禾璞华也是在新并购六条推出之前，先知先觉 做了一只并购基金，专为半导体的新质生产力的发展做出我们自己的贡献。"牛俊岭说道。 "跨界收购"作为并购市场一大热点话题，也在会上被讨论。 华泰联合证券公司执行委员会委员劳志明从方案设计的角度谈到，跨界并购在实践中面临较多挑 战，"两个完全不相关的行业要在'一个锅里吃饭'，整合压力挺大。" 他表示，把新兴产业资产整合进传统行业上市公司里存在一个悖论：从规模角度看，希望上市公司市值 小；但从后续抗风险角度看，又希望经营稳健，甚至不断增长赚钱，这里边的交易机会不是特别好选。 据深交所创业板公司管理部总监徐正刚介绍，"并购六条"发布后，深市并购重组市场规模和活跃度显著 提升，累计披露重组项目接 ...

在全球化浪潮的推动下，深圳证券交易所市场(以下简称"深市")上市公司正以创新为桨、实力为帆，积 极拓展海外市场，谱写国际化发展的新篇章。2024年，深市公司实现海外收入4.18万亿元，同比增长 11.62%。 行业龙头企业海外销售持续增长。立讯精密（002475）工业股份有限公司(以下简称"立讯精密")、比亚 迪（002594）股份有限公司(以下简称"比亚迪")、美的集团（000333）股份有限公司(以下简称"美的集 团")、潍柴动力（000338）股份有限公司(以下简称"潍柴动力")、宁德时代（300750）新能源科技股份 有限公司(以下简称"宁德时代")5家公司2024年海外业务收入超千亿元，分别为2354.67亿元、2218.85亿 元、1690.34亿元、1197.74亿元、1103.36亿元。出口导向型公司业绩进一步增长，2024年相关公司营业 收入合计1.78万亿元，同比增长14.6%，净利润合计1229.96亿元，同比增长26.36%。 业内人士认为，从智能制造到数字经济，从绿色能源到消费升级，深市企业正将"中国智造"的品牌魅力 辐射世界，为全球产业链注入新动能。 出海步伐加快 实现全球产业链协 ...

Group 1 - The core viewpoint of the news is the performance and holdings of the China Europe Medical Health Mixed A Fund, which has shown a recent net value increase and varying returns over different time frames [1] - As of May 21, 2025, the latest net value of the fund is 1.6359 yuan, reflecting a growth of 1.36% [1] - The fund's one-month return is 4.85%, ranking 1834 out of 4645 in its category, while the three-month return is 0.17%, ranking 1678 out of 4590 [1] - Year-to-date, the fund has achieved a return of 4.28%, with a ranking of 2331 out of 4544 [1] Group 2 - The top ten stock holdings of the China Europe Medical Health Mixed A Fund account for a total of 55.30%, with significant positions in companies such as Heng Rui Pharmaceutical (10.60%) and WuXi AppTec (9.95%) [1] - The fund was established on September 29, 2016, and as of March 31, 2025, it has a total scale of 15.613 billion yuan [1] - The fund manager, Ge Lan, has a background in biomedical engineering and has held various positions in research and fund management since joining China Europe Fund Management in 2014 [2]

Group 1 - The company announced a cash dividend distribution of RMB 5.60 per share (including tax) for the 2024 fiscal year, totaling RMB 678,967,180.64 (including tax) based on a total share capital of 1,212,441,394 shares as of December 31, 2024 [1][2] - The first interim profit distribution plan for 2025 was approved, with a cash dividend of RMB 14.10 per 10 shares (including tax) [1][2] - The dividend distribution will be adjusted if the total share capital changes before the implementation of the distribution [1][2] Group 2 - The equity distribution record date is set for May 28, 2025, and the ex-dividend date is May 29, 2025 [2][3] - The distribution will be directly credited to the shareholders' accounts through their securities companies or other custodians [3] - The distribution applies to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch as of the record date [3]

证券代码：300760 证券简称：迈瑞医疗 公告编号：2025-020 深圳迈瑞生物医疗电子股份有限公司 2024年度及2025年第一次中期权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要提示： 1、分配方案：每10股派发现金红利19.70元（含税），由2024年度利润分配方案每10股 派发现金红利5.60元（含税）与2025年第一次中期利润分配方案每10股派发14.10元（含税） 共同构成； 2、以上利润分配方案已经公司2025年5月20日召开的2024年年度股东大会审议通过； 3、本次权益分派股权登记日为：2025年5月28日，除权除息日为：2025年5月29日。 二、本次实施的权益分派方案 本公司 2024 年 度 及 2025 年 第 一 次 中 期 权 益 分 派 方 案 为 ： 以 公 司 现 有 总 股 本 1,212,441,394股为基数，向全体股东每10股派19.70元人民币现金（含税；扣税后，通过深 股通持有股份的香港市场投资者、境外机构（含QFII、RQFII）以及持有首发前限售股的个 人和证券投资基金每10股派1 ...

Core Viewpoint - The company aims to become a top 10 global medical device company by 2030, focusing on increased R&D investment, internationalization, and strategic acquisitions to enhance its core technologies and market presence [3][4]. Group 1: Strategic Goals and Implementation - The strategic goal for the next 3-5 years is to enhance R&D investment and master core technologies to achieve higher market rankings [3]. - Internationalization is a key focus, with two main paths: building teams and pursuing acquisitions [3][4]. - The company has a history of successful acquisitions that have strengthened its technology and market access, such as the acquisition of Datascope and ZONARE [3][4]. Group 2: International Market Expansion - The overseas revenue share increased from 39% to 45%, with a target of over 70% in the future, particularly in developing countries and Europe [4]. - The U.S. market, while currently representing only 6% of total sales, remains a strategic focus, with significant market share in key product categories [4][5]. Group 3: Domestic Market Outlook - Domestic business has faced pressure due to factors like centralized procurement, but a recovery is expected in Q3 2024 as medical equipment updates begin [6]. - The company anticipates a "conversion year" with a potential for growth in the latter half of the year, driven by policies like equipment replacement [6]. - The company has maintained a high win rate of 60%-70% in recent procurement projects, indicating strong competitive positioning [6].

Core Viewpoint - The ICBC Medical Care Stock Fund (000831) has shown positive performance with a recent net value of 2.5640 yuan, reflecting a growth of 2.07% [1] Performance Summary - The fund's one-month return is 4.48%, ranking 672 out of 1022 in its category - Over the last three months, the return is 7.69%, with a ranking of 96 out of 1009 - Year-to-date, the return stands at 12.51%, ranking 128 out of 999 [1] Holdings Overview - The top ten holdings of the fund account for a total of 39.79%, with the following key positions: - Heng Rui Medicine: 8.90% - WuXi AppTec: 5.12% - Aier Eye Hospital: 4.94% - BeiGene: 3.77% - Zai Lab: 3.52% - New Horizon Health: 3.27% - Mindray Medical: 2.80% - Yuyue Medical: 2.76% - United Imaging Healthcare: 2.47% - Innovent Biologics: 2.24% [1] Fund Details - The ICBC Medical Care Stock Fund was established on November 18, 2014, and as of March 31, 2025, it has a total scale of 2.724 billion yuan - The fund is managed by Zhao Bei and Ding Yang [1][2]

Group 1 - The core viewpoint of the news is the performance and holdings of the China Europe Medical Health Mixed Fund C, which has shown a recent net value increase and varying returns over different time frames [1] - As of May 20, 2025, the fund's latest net value is 1.5473 yuan, reflecting a growth of 2.76% [1] - The fund's one-month return is 5.29%, three-month return is 0.92%, and year-to-date return is 2.57%, with respective rankings of 3149 out of 4647, 1587 out of 4590, and 3094 out of 4546 [1] Group 2 - The top ten stock holdings of the fund account for a total of 55.30%, with significant positions in companies such as Heng Rui Pharmaceutical (10.60%), WuXi AppTec (9.95%), and Kanglong Chemical (6.24%) [1] - The fund was established on September 29, 2016, and as of March 31, 2025, it has a total scale of 15.566 billion yuan [1] - The fund manager, Ge Lan, has a background in biomedical engineering and has held various positions in research and fund management since joining China Europe Fund Management in 2014 [2]

FANGDA PARTNERS http://www.fangdalaw.com 中国深圳市福田区中心四路 1 号 电子邮件 E-mail: email@fangdalaw.com 嘉里建设广场 T1 座 9 楼 电 话 Tel.: 86-755-8159-3999 邮政编码：518048 传 真 Fax: 86-755-8159-3900 9/F, Tower One, Kerry Plaza 1 Zhong Xin Si Road Futian District Shenzhen 518048, China 上海市方达（深圳）律师事务所 关于深圳迈瑞生物医疗电子股份有限公司 2024 年年度股东大会的 法律意见书 致：深圳迈瑞生物医疗电子股份有限公司 上海市方达（深圳）律师事务所（以下简称"本所"）是具有中华人民共和国 法律执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席深圳迈 瑞生物医疗电子股份有限公司（以下简称"迈瑞医疗"或"公司"）2024 年年度股东 大会（以下简称"本次股东大会"），并就本次股东大会的召集和召开程序、出席 和召集会议人员的资格、表决程序和表决结果等有关事宜出具本法律意 ...