Core Viewpoint - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray Medical) has submitted an application to list on the main board of the Hong Kong Stock Exchange, with Huatai International and JPMorgan serving as joint sponsors [1][4]. Company Overview - Mindray Medical is recognized as a leading, innovation-driven global medical device company and a pioneer in medical digitization. According to Frost & Sullivan, the company's market capitalization in the Chinese medical device industry for 2024 will exceed the combined total of the second to fifth largest domestic competitors, with industrial revenue more than double that of the second-largest competitor [4][5]. - The company ranks 23rd among the world's top medical device companies and is the only Chinese company in the top 30, achieving this status faster than any other company [4][5]. Product and Market Position - Mindray Medical has established a comprehensive product matrix covering multiple product lines, making it the only top-tier medical device company among the global top 30 that spans across in vitro diagnostics, life information and support, medical imaging, minimally invasive surgery, and interventional procedures [5][6]. - The company leads in multiple fields by revenue in 2024, with six product categories ranked in the global top three and nine categories holding the number one market share in China [4][5]. Strategic Transformation - The company is accelerating its strategic transformation towards a sustainable growth model centered on flow-type business, expanding its ecosystem around equipment, IT, and AI [5][6]. - Mindray Medical aims to transition from one-time equipment sales to a sustainable, repeatable revenue model, showcasing a more robust and expansive development outlook [6]. Financial Performance - Revenue projections for Mindray Medical are approximately RMB 30.37 billion for 2022, RMB 34.93 billion for 2023, RMB 36.73 billion for 2024, and RMB 16.74 billion for the first half of 2025 [6][7]. - Profit estimates are around RMB 9.61 billion for 2022, RMB 11.58 billion for 2023, RMB 11.74 billion for 2024, and RMB 5.23 billion for the first half of 2025 [7]. - The gross profit margin is projected to be 62.2% in 2022, 64.2% in 2023, 63.1% in 2024, and 61.7% for the first half of 2025 [8]. Industry Overview - The global medical device market is expected to grow from USD 456.6 billion in 2020 to USD 623 billion by 2024, with a CAGR of 8.1% from 2020 to 2024. The market is projected to reach USD 869.7 billion by 2030, reflecting stable growth driven by basic healthcare needs and ongoing technological advancements [10]. - In China, the medical device market is anticipated to grow from RMB 729.8 billion in 2020 to RMB 941.7 billion by 2024, with a CAGR of 6.6%. By 2030, the market size is expected to reach RMB 1,326 billion [11][16]. Market Drivers - The continuous growth of the global medical device industry is driven by structural healthcare demands, technological integration, supportive policy frameworks, and evolving business models [14]. - In China, strong structural growth is supported by the expansion of grassroots medical infrastructure, the prevalence of chronic disease management solutions, and government policies promoting device updates and independent innovation [16].

Macro Dynamics - The State Council issued measures to guide private capital's orderly participation in low-altitude economy infrastructure construction, optimizing satellite communication business access policies and supporting capable private enterprises in major national technology tasks [2] Pharmaceutical Innovations - Shanghai Hepu Pharmaceutical's innovative hepatitis B drug Hepulapta achieved breakthrough results in a Phase II clinical trial, showing the ability to reverse drug resistance in chronic hepatitis B patients and achieve sterilizing cure [3] Automotive Market - In October, the retail sales of new energy passenger vehicles reached 1.282 million units, a year-on-year increase of 7.3%, while the cumulative sales from January to October reached 10.151 million units, growing by 21.9% [4][5] Oil Price Adjustments - Domestic gasoline and diesel prices will increase by 125 and 120 yuan per ton respectively starting from November 10, with an average increase of 0.10 yuan per liter for 92, 95 gasoline, and 0 diesel [6] Monetary Policy - The Bank of Japan's October meeting minutes suggest a possible interest rate hike in December, aligning with market expectations for an increase in borrowing costs by early next year [7] Financial Institutions - Zhejiang Securities announced the retirement of Chairman Wu Chenggen and the appointment of Qian Wenhai as the new chairman and president [9] Market Data - The Shanghai Composite Index rose by 0.53% on November 10, with significant gains in the consumer goods sector, particularly in food and beverage stocks [11] - The total margin financing balance decreased by 50.19 billion yuan as of November 7, with the Shanghai Stock Exchange reporting a balance of 12,567.49 billion yuan [12] Company Developments - Purun Co. announced a share transfer at 106.66 yuan per share, which is a 38% discount compared to the closing price [14] - Zhongji Xuchuang plans to issue H-shares and list on the Hong Kong Stock Exchange [15] - Mindray Medical submitted an application for H-share listing on the Hong Kong Stock Exchange [16] - Shandong Gold's subsidiary needs to pay 738 million yuan in taxes, which is expected to impact the company's net profit for 2025 by 230 million yuan [17] - Lingzhi Software plans to acquire 100% of Kaimiride's equity, with stock resuming trading on November 11 [18] - *ST Yuancheng's stock will be suspended from trading due to falling below the mandatory delisting threshold [19]

Core Insights - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, with Huatai International and JPMorgan as joint sponsors [1] - The company is recognized as a global leader and innovator in the medical device industry, with a projected market value in 2024 that exceeds the combined value of the second to fifth largest domestic competitors in China [1] - Mindray ranks 23rd among the top global medical device companies and is the only Chinese company in the top 30, achieving this status faster than any other company since its establishment [1] Industry Position - According to Frost & Sullivan, Mindray is the only company among the top global medical device firms that covers a comprehensive range of medical scenarios, including emergency, operating rooms, intensive care units, general wards, and various specialties such as surgery, cardiology, laboratory, and ultrasound [1] - The company holds leading positions in multiple fields, with six product categories ranked among the top three globally and nine product categories holding the number one market share in China, based on projected revenues for 2024 [1]

智通财经APP获悉，据港交所11月10日披露，深圳迈瑞生物医疗电子股份有限公司(以下简称：迈瑞医 疗,300760.SZ)递表港交所主板，华泰国际、摩根大通为其联席保荐人。据招股书，该公司是全球领先、 创新驱动的世界级医疗器械企业及医疗数智化引领者。根据弗若斯特沙利文的资料，在中国医疗器械行 业，该公司2024年的市值规模超过境内主要龙头企业(第二到五名)之和，工业收入是第二名的两倍有 余。该公司已跻身全球顶尖医疗器械企业第23名，同时排名不断上升，是全球前30大医疗器械企业中唯 一上榜的中国企业，也是从成立到上榜最快的企业之一。 该公司坚持战略性布局，形成了覆盖多产品、多产线的完整矩阵，根据弗若斯特沙利文的资料，该公司 是全球顶尖医疗器械企业中唯一一家覆盖从急诊、手术室、重症监护室、普通病房，到外科、心内科、 检验科、超声科等多诊疗场景的企业。根据弗若斯特沙利文的资料，按2024年的收入计，在多个领域， 该公司均处于行业领先地位，已有6类产品市场份额位居全球前三，9类产品市场份额位于中国第一。 ...

Group 1 - The core viewpoint of the article highlights that Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray Medical) has submitted an application to list on the Hong Kong Stock Exchange, with Huatai International and JPMorgan as joint sponsors [1] - Mindray Medical is recognized as a leading, innovation-driven global medical device company and a leader in medical digitization [1] - According to Frost & Sullivan, by 2024, Mindray Medical's market value in the Chinese medical device industry will exceed the combined value of the second to fifth largest domestic competitors, with industrial revenue more than double that of the second-largest competitor [1] Group 2 - Mindray Medical ranks 23rd among the top global medical device companies and is the only Chinese company in the top 30, achieving this status faster than any other company since its establishment [1] - The company has established a comprehensive product matrix covering multiple products and production lines, making it the only top global medical device company that spans various clinical scenarios from emergency, operating room, intensive care unit, to general wards, and across multiple specialties [1] - By 2024, Mindray Medical is expected to lead in multiple fields, with six product categories ranked among the top three globally and nine product categories holding the number one market share in China [1]

Core Viewpoint - Mindray Medical (300760.SZ) has submitted an application for the issuance of overseas listed foreign shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on November 10, 2025 [1] Group 1 - The application was published on the Hong Kong Stock Exchange's website on the same day it was submitted [1] - The application materials were prepared and published in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1] - The information contained in the application is a draft version and may be updated and revised in due course [1]

Core Viewpoint - Mindray Medical (300760.SZ) has submitted an application for the issuance of overseas listed foreign shares (H-shares) and for listing on the main board of the Hong Kong Stock Exchange on November 10, 2025 [1] Group 1 - The application was filed with the Hong Kong Stock Exchange and the relevant documentation was published on the same day [1] - The application materials were prepared and published in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1] - The documents are in draft form and may be updated and revised as necessary [1]

Core Viewpoint - Mindray Medical (300760) has submitted an application for the issuance of overseas listed foreign shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on November 10 [1] Group 1 - The company announced the submission of its application to the Hong Kong Stock Exchange on November 10 [1] - The application materials for this issuance and listing have been published on the Hong Kong Stock Exchange website on the same day [1]

证券代码：300760 证券简称：迈瑞医疗 公告编号：2025-050 深圳迈瑞生物医疗电子股份有限公司 关于向香港联交所递交境外上市外资股（H股） 深圳迈瑞生物医疗电子股份有限公司（以下简称"公司"）已于2025年11月10日向香港 联合交易所有限公司（以下简称"香港联交所"）递交了发行境外上市外资股（H股）并在 香港联交所主板挂牌上市（以下简称"本次发行并上市"）的申请，并于同日在香港联交所 网站刊登了本次发行并上市的申请资料。该申请资料为公司按照香港证券及期货事务监察 委员会（以下简称"香港证监会"）及香港联交所的要求编制和刊发，为草拟版本，其所载 资料可能会适时作出更新和修订。 鉴于本次发行并上市的认购对象仅限于符合相关条件的境外投资者及依据中国相关法 律法规有权进行境外证券投资的境内合格投资者，公司将不会在境内证券交易所的网站和 符合境内监管机构规定条件的媒体上刊登该申请资料，但为使境内投资者及时了解该等申 请资料披露的本次发行并上市以及公司的其他相关信息，现提供该申请资料在香港联交所 网站的查询链接供查阅： 中文：https://www1.hkexnews.hk/app/sehk/2025/107 ...

据港交所文件：深圳迈瑞生物医疗电子股份有限公司向港交所提交上市申请书。 ...