Core Viewpoint - Jianfa Zhixin is a nationwide high-value medical device distributor, primarily engaged in direct sales and distribution of medical devices, providing centralized operation services for medical consumables (SPD) to end hospitals [1] Group 1: Company Overview - Jianfa Zhixin has established a nationwide distribution network, focusing on medical consumables and IVD diagnostic products, maintaining long-term stable partnerships with over 100 well-known domestic and international medical device manufacturers [1] - The company has accumulated rich operational service experience by deeply analyzing the pain points of traditional medical device distribution and exploring industry transformation directions [1] Group 2: Market Potential - The SPD management model for medical devices still has vast development space, with a penetration rate of approximately 15.29% in public hospitals across the country as of the end of 2023, indicating significant market growth potential [1] - According to the "2023 Health and Wellness Development Statistical Bulletin," there are approximately 11,772 public hospitals in the country, further supporting the potential for expansion in the SPD project [1] Group 3: Investment Rating - The company is covered for the first time with an "Overweight" rating, reflecting confidence in its innovative approach to solving industry development challenges [1]
研报掘金丨东莞证券：首予建发致新“增持”评级，医疗器械SPD管理模式仍存在广阔的发展空间