Mindray(SZ:300760) Zheng Quan Shi Bao Wang·2025-10-14 23:49Core Viewpoint - Mindray Medical has announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its capital strength and support internationalization efforts [1] Group 1: Company Developments - The board of Mindray Medical approved the proposal for issuing H-shares and listing on the Hong Kong Stock Exchange to meet business development needs and advance its international strategy [1] - The issuance and listing are subject to approval from shareholders and relevant regulatory bodies, including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] - Specific details regarding the issuance and listing are yet to be finalized, and there is significant uncertainty regarding the approval process [1] Group 2: Financial Performance - In the first half of 2025, Mindray Medical reported revenue of 16.743 billion yuan, a year-on-year decline of 18.45%, and a net profit of 5.069 billion yuan, down 32.96% year-on-year [2] - The company anticipates a positive year-on-year revenue growth in the third quarter, continuing a trend of quarter-on-quarter improvement [2] Group 3: Market Outlook - Mindray Medical expects the domestic market to show signs of recovery starting from the third quarter of 2023, following a period of significant decline due to healthcare reforms and industry adjustments [3] - The company believes the most challenging period for its domestic business has passed and is focusing on increasing market share, particularly in the IVD sector [4] - The company is optimistic about the growth potential of its minimally invasive surgical products and international business, projecting that the third quarter will mark a turning point in performance [4]