医疗服务行业周报 12.1-12.5：医药卫生事业稳定发展，老龄化下需考虑支付意愿-20251206

Investment Rating - The report maintains a "Buy" rating for the medical services industry [6][10][63] Core Insights - The medical and health sector is experiencing stable development, but the willingness to pay must be considered due to aging demographics [5][6][60] - The medical services sector has shown a decline in performance, with the medical services sub-sector index down 1.37% this week [2][24] - The PE ratio for the medical services sector is currently at 31.14X, with a recent decrease of 0.48X, while the PB ratio is at 3.14X, down 0.04X from the previous week [4][30] Summary by Sections Industry Performance - The medical and biological sector fell by 0.74%, ranking 21st among 31 primary industries [2][12] - The medical services sub-sector index closed at 6326.63 points, down 1.37% [24][30] Company Performance - Top-performing companies in the medical services sector include Baihua Pharmaceutical (+6.5%), ST Zhongzhu (+5.2%), and Innovation Medical (+2.5%) [3][28] - Underperforming companies include Chengda Pharmaceutical (-12.4%), MediX (-7.1%), and YaoKang Bio (-6.5%) [3][28] Valuation Metrics - The medical services sector's PE ratio is 31.14X, with a one-year maximum of 41.13X and a minimum of 28.46X [4][30] - The PB ratio stands at 3.14X, with a one-year maximum of 4.00X and a minimum of 2.48X [4][30] Market Trends - The report highlights that the aging population is increasing medical demand, but payment willingness is a critical factor [6][62] - The report suggests focusing on leading companies like Aier Eye Hospital and innovative companies in the CXO sector such as WuXi AppTec and Haoyuan Pharmaceutical [9][62]