Mindray(SZ:300760) 3 6 Ke·2025-10-29 11:18Core Viewpoint - Mindray Medical, a leading player in the medical device industry, has announced plans to issue H-shares and list on the Hong Kong Stock Exchange, marking a significant step in its internationalization strategy [1][7]. Company History - Mindray was founded in 1991 by three colleagues, Li Xiting, Xu Hang, and Cheng Ming, who aimed to fill the gap in China's high-end medical device market [2][3]. - The company initially developed a pulse oximeter with borrowed funds, marking the beginning of its journey in the medical device sector [3][4]. - Mindray became the first Chinese medical device company to list overseas, successfully going public on the New York Stock Exchange in 2006 [6]. Financial Milestones - Mindray's market capitalization peaked at $3.59 billion during its time on the NYSE, but it later faced challenges leading to its privatization in 2016 for approximately $3.3 billion [6][7]. - The company made a significant return to the public market in 2018 by listing on the Shenzhen Stock Exchange, raising nearly 6 billion yuan, which was the largest IPO on the ChiNext that year [7]. Recent Developments - Mindray's international business has shown growth, with a 5.39% increase in revenue from international operations, which now accounts for nearly 50% of total revenue [7]. - The company aims to increase its overseas revenue share to over 70% and has set a strategic goal to rank among the top ten global medical device companies by 2030 [7]. Founders' Wealth - The founders of Mindray hold significant stakes in the company, with Li Xiting and Xu Hang ranking among China's wealthiest individuals following the company's IPOs [8][9]. - The stock price of Mindray surged post-IPO, contributing to the substantial increase in the founders' net worth, with Li Xiting's wealth reaching approximately $21.5 billion in 2021 [8][9].