Mindray(SZ:300760) Xin Lang Cai Jing·2025-10-15 04:43Core Viewpoint - Mindray Medical has announced plans for a secondary listing in Hong Kong to enhance its international strategy and capital strength, aiming to further its global business expansion and innovation investment [1][2] Group 1: Listing Announcement - The company intends to issue H-shares to support its international strategy, global business layout, and increase R&D investment [1] - The funds raised will be used for various purposes, including advancing international strategy and supplementing operational funds [1] - This move is seen as a significant step in strengthening the company's international influence and aligning with its global development strategy [1] Group 2: Financial Performance - Since its IPO in 2018, Mindray has not conducted any refinancing and has consistently paid dividends, totaling 35.7 billion yuan, which is six times its IPO fundraising amount of 5.934 billion yuan [1] - As of mid-2023, the company reported that overseas revenue accounted for 50% of its total revenue, marking a continuous growth in international business over the past seven years [1] Group 3: Global Strategy and Market Position - Mindray Medical has established a comprehensive product line across three main business areas: in vitro diagnostics, life information and support, and medical imaging [1] - The company has a presence in 14 countries with production bases and 64 overseas subsidiaries, employing over 3,000 staff globally [1] - Mindray has made strategic acquisitions to enhance its global competitiveness and fill business gaps [1] Group 4: Innovation and R&D - The company emphasizes autonomous innovation as a core development strategy, with R&D investment reaching 1.777 billion yuan in the first half of 2025, accounting for 10.61% of its revenue [1] - Mindray has been a pioneer in integrating devices with IT and AI, completing its smart medical ecosystem by 2025 [1] - The company aims to address the long-standing challenges in the medical field by leveraging AI technology to improve quality, efficiency, and cost [1] Group 5: Future Outlook - The secondary listing in Hong Kong is expected to provide multiple incentives for Mindray to accelerate its global and capital strategies, aiming to achieve its goal of becoming a top ten global player [2]