迈瑞医疗：第三季度净利润25.01亿元

Core Insights - The company, Mindray Medical (300760.SZ), reported a third-quarter revenue of 9.091 billion yuan, representing a year-on-year increase of 1.53%, while net profit decreased by 18.69% to 2.501 billion yuan [2] - For the first three quarters of 2025, the company's revenue was 25.834 billion yuan, down 12.38% year-on-year, and net profit fell by 28.83% to 7.57 billion yuan [2] - The net cash flow from operating activities decreased by 34.32% compared to the same period last year, primarily due to a reduction in cash received from sales of goods and services [2] Industry Performance - Despite a contraction in the domestic in vitro diagnostics industry, the company has steadily increased its market share in key business areas [2] - International business remains robust, with the European market experiencing over 20% year-on-year growth, and minimally invasive surgical business growing by more than 25% [2] R&D and Product Development - The company has significantly increased its R&D investment, with expenses reaching 2.686 billion yuan in the first three quarters, accounting for 10.40% of revenue [2] - Multiple new products have been launched in the fields of life information and support, medical imaging, and in vitro diagnostics [2] - Revenue from key high-end ultrasound products has doubled in the first three quarters [2]