医药生物行业周报：设备更新招标浪潮起，突破性疗法新药品种数量创新高

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Insights - The scale of equipment update bidding continues to grow, with significant increases in budget amounts, reaching 6.56 billion yuan in the 45th week, a 66.08% increase month-on-month [2] - The number of breakthrough therapy drug varieties has reached a historical high, with 76 clinical applications recognized by CDE this year, 75% of which are domestic drugs [2][4] - The focus on domestic equipment procurement is expected to accelerate the import substitution process in high-end fields, benefiting companies with strong R&D capabilities [2] Summary by Sections Equipment Update Bidding - Equipment update bidding projects have shown a clear upward trend since the 40th week, with disclosed budget amounts reaching 48 billion yuan and procurement intentions totaling 177 billion yuan [2] - The types of products involved in bidding have increased to 252, with a focus on large medical imaging equipment and IVD devices [2] Breakthrough Therapy Drugs - The number of drugs included in the breakthrough therapy program has exceeded the total for 2023, with a significant proportion being domestic [2] - Among the breakthrough drugs, antibody-drug conjugates (ADC) lead in the biopharmaceutical category, with 14 varieties, 12 of which are from domestic companies [2] Investment Recommendations - Recommended companies to focus on include United Imaging Healthcare, Kaili Medical, Aohua Endoscopy, Ailis, Kangfang Biotech, Kelun-Botai, and Maiwei Biotech [5]