医药生物行业动态点评：主动脉瓣膜进入集采，开辟新增长曲线

Investment Rating - The report maintains an "Outperform" rating for the medical biology industry [4]. Core Insights - The introduction of centralized procurement for aortic valve membranes is expected to open new growth avenues for leading domestic companies such as Qiming Medical, Peijia Medical, and Xintong Medical [2]. - The procurement process includes two rounds of price reduction opportunities, which will favor companies with superior product capabilities to replace foreign products [2]. - The collaborative procurement model involving major hospitals is anticipated to enhance the efficiency of price and volume control in the high-value consumables sector, leading to a more favorable environment for domestic leaders [2]. Summary by Sections Industry Dynamics - The Guangzhou Public Resource Trading Center has initiated a joint procurement process for medical consumables, including catheter-based aortic valve replacement systems and rechargeable deep brain stimulation devices [2]. - The procurement alliance consists of seven major hospitals and will last for one year, focusing on products that have received national medical insurance codes [2]. Market Trends - The report highlights the maturation of hospital alliance negotiation procurement methods, with two new categories of high-value consumables entering centralized procurement [2].