Mindray(SZ:300760) Sou Hu Cai Jing·2025-10-14 15:13Core Viewpoint - Mindray has officially initiated the process for its H-share stock issuance and listing in Hong Kong to enhance its international strategy and capital strength [1][2]. Group 1: H-Share Issuance and Listing - Mindray's board approved the proposal for issuing H-shares and listing on the Hong Kong Stock Exchange, with a maximum issuance scale of 10% of the total share capital post-issuance [1]. - The issuance will include both public offerings in Hong Kong and international placements, with pricing based on market practices and investor demand [1]. - The funds raised will be used to support international expansion, increase R&D investment, and supplement operational funds [1]. Group 2: Corporate Governance and Management Changes - Mindray has made adjustments to its corporate governance structure, appointing Gu Minkang as an independent director and defining roles for other board members [2]. - New committee members have been added, including Xu Jing as a member of the nomination committee and Gu Minkang in the audit and strategic committees [2]. Group 3: Business Performance and Market Position - In the latest global medical device company ranking, Mindray improved its position from 27th to 25th [2]. - Despite challenges in the domestic market, Mindray's international business grew by 5.39% year-on-year in the first half of 2025, with international revenue now accounting for approximately 50% of total revenue [3]. - The company anticipates a turning point in the domestic market in Q3 2025, following a recovery in medical equipment bidding activities [3].