招银国际维持迈瑞医疗买入评级，三大产线不断突破

Core Insights - Mindray Medical (300760) held an investor open day, highlighting its digital transformation in equipment business and expansion strategy for flow-type business [1] - The company aims to create comprehensive solutions combining "equipment + IT + AI" and "equipment + consumables" to support long-term growth [1] Business Lines Summary - The life information and support business utilizes the "Ruizhi Lian" data platform to integrate information and create digital patient profiles, with AI capabilities enhancing clinical decision-making [2] - Mindray's AI medical layout focuses on emergency, surgery, and critical care, with the "Qiyuan" critical care model expected to be released in December 2024, and additional specialized models anticipated in the next 1-2 years [2] - In the medical imaging sector, Mindray's full-stack ultrasound AI solutions significantly improve examination efficiency and diagnostic quality, exemplified by the Neuwa A20 solution for comprehensive prenatal screening [2] IVD Business Insights - Automation in the IVD sector is crucial for high-end breakthroughs, with over 200 new installations expected globally in 2024 and around 300 in 2025 [3] - The comprehensive IVD layout supports multi-disciplinary production, providing cost and iteration efficiency advantages [3] - The digital transformation is expected to drive Mindray's global high-end breakthroughs and accelerate performance growth, leading to a slight upward adjustment in profit expectations and target price to 272.90 RMB based on a 9-year DCF model [3]