【私募调研记录】合晟资产调研维力医疗

Group 1 - The core viewpoint of the article highlights the recent research conducted by a well-known private equity firm, Hosheng Asset Management, on a listed company, Weili Medical, focusing on its operational performance and growth strategies [1] - Weili Medical reported that its overseas factory production costs are slightly higher than domestic costs, but savings on customer shipping and storage fees are expected to keep the gross margin stable [1] - The gross margin for urology products exceeds 70%, driven by domestic brand effects, import substitution, and expansion into overseas markets, contributing to revenue growth [1] - Since 2023, Weili Medical has intensified its efforts to export urology products, achieving significant results with continuous high-speed growth in export revenue over the past two years [1] - The company's production capacity is concentrated in five cities, and it is establishing factories in Indonesia and Mexico to mitigate geopolitical risks and enhance automation levels [1] Group 2 - Hosheng Asset Management, established in 2011, became one of the first 50 private fund managers registered with the Asset Management Association of China in 2014, and is recognized as a leading institution in credit bond research and investment [2] - The firm boasts a team with strong educational backgrounds and extensive experience in the domestic capital market, emphasizing professional ethics and a passion for asset management [2] - Hosheng Asset Management focuses on precise industry and company analysis, keen credit risk identification, and a comprehensive risk management system, aiming to create excess returns for clients through dynamic portfolio optimization [2]