Mindray(SZ:300760) Xin Lang Cai Jing·2025-09-12 04:38Core Insights - The core focus of the article is on the growth potential of Mindray Medical's three key high-potential business segments: minimally invasive surgery, animal healthcare, and cardiovascular care [1] Group 1: Business Segments - The combined revenue from the three high-potential business segments exceeded 4 billion yuan last year, accounting for over 10% of the company's total revenue [1] - In minimally invasive surgery, the hard endoscope system has achieved over 10% market share within a few years, ranking just behind two imported brands, with future growth expected due to its 4K+3D+fluorescence capabilities [1] - In the animal healthcare sector, previous limitations in product variety have been addressed through significant R&D investments, resulting in a nearly complete product line across three major production lines [1] - In the cardiovascular field, Mindray Medical is enhancing operational efficiency and standardized management at Huatai Medical while maintaining its independence, with the establishment of a dedicated electrophysiology division [1] Group 2: Future Outlook - Despite short-term industry challenges, Mindray Medical is positioned for recovery and growth through the rapid development of high-potential businesses, AI technology upgrades, and international expansion strategies [1] - The company anticipates a turning point in the domestic market in the third quarter, aiming to solidify its position in the global medical device market [1]