机构：国内医疗器械行业持续处于快速发展阶段

Group 1 - The National Medical Products Administration released a new version of the "Medical Device Production Quality Management Standards," effective from November 1, 2026, aimed at enhancing the quality management system of medical device companies in China [1] - The new standards are a revision of the 2014 version and are part of the government's efforts to promote high-quality development in the pharmaceutical and medical device industry [1] - Zhongtai Securities believes that despite short-term pressures from medical insurance cost control and international conditions, the domestic medical device industry is in a rapid development phase, with optimism for domestic companies driven by policy support and innovation [1] Group 2 - Founder Securities indicates that the medical device industry is nearing the end of an adjustment cycle, with clear trends of marginal improvement at both industry and company levels [2] - The sector has faced multiple pressures, including industry restructuring and price control, leading to a decline in stock prices; however, there has been a recovery trend since the beginning of the year [2] - The combination of policy support for high-end innovative devices, improved procurement environments, and ongoing international expansion by domestic companies is expected to drive the medical device industry out of its low point and towards steady recovery [2]