医药生物行业：宁夏深化药械监管改革，推动医药产业高质量发展

Investment Rating - The industry investment rating is "Overweight" (maintained) [5] Core Insights - The report highlights the recent policy issued by the Ningxia Hui Autonomous Region government aimed at enhancing the regulatory framework for pharmaceuticals and medical devices, which is expected to promote high-quality development in the pharmaceutical industry [5] - The policy emphasizes support for the entire chain of traditional Chinese medicine (TCM) innovation, particularly focusing on the protection and development of local resources such as goji berries and licorice, which will benefit local TCM enterprises [6] - The report suggests that the policy will significantly improve the efficiency of product approvals for innovative drugs and medical devices, with specific measures to shorten approval timelines [6] - The report recommends focusing on companies with existing operations in Ningxia, especially those involved in the deep processing of local TCM resources, as well as innovative drug and medical device developers [6] Summary by Sections Recent Industry Performance - The industry has shown relative returns of -4.75% over the past month, -17.32% over the past three months, and -7.19% over the past year compared to the CSI 300 index [3] Policy Impact - The Ningxia policy includes measures to enhance the approval process for innovative drugs and medical devices, reducing the approval time for medical device production licenses from 30 to 20 working days and for second-class medical device renewals from 60 to 50 working days [6] - The policy encourages collaboration among local enterprises, universities, research institutions, and medical organizations to foster innovation in drug and medical device development [6] Investment Recommendations - The report advises investors to pay attention to companies that have a strong presence in Ningxia, particularly those involved in the development of local TCM resources, as well as those engaged in innovative drug and medical device research [6] - Specific companies mentioned for potential investment include Tongrentang, Dong'e Ejiao, Mindray Medical, Jiuzhoutong, and Tigermed [6]