Core Viewpoint - The report from Zhongyou Securities indicates that Ruimaite achieved a net profit attributable to the parent company of 131 million yuan in the first half of the year, representing a year-on-year increase of 42.19% [1] Financial Performance - In Q2, the net profit attributable to the parent company was 59 million yuan, showing a year-on-year growth of 39.92% [1] - The company experienced double growth in revenue and profit for the first half of 2025, primarily due to contributions from both domestic and overseas markets [1] Overseas Market Performance - The overseas revenue for the first half of the year reached 353 million yuan, marking a year-on-year increase of 61.33% [1] - The inventory destocking cycle in the U.S. ventilator market has ended, leading to a stabilization of the market [1] - In Europe, the cloud platform construction has been largely completed, and through localized operational strategies, the company's products have begun to enter the mainstream medical insurance market, which is expected to provide significant growth momentum in the future [1] Domestic Market Performance - Domestic revenue for the first half of the year was 191 million yuan, reflecting a year-on-year increase of 16.87% [1] - The company has adjusted its channel and sales policies in the domestic market, which has begun to show positive results [1] - The proportion of consumables business continues to increase [1] Future Strategy - The company plans to continuously enhance ventilator production capacity while simultaneously advancing the consumables business [1] - More resources will be allocated to comprehensively increase the revenue share of the consumables business, aiming for synergistic development between complete machines and consumables [1]
研报掘金丨中邮证券：予瑞迈特“买入”评级，境外业务快速推进，耗材占比持续增长