中证报中证网讯(记者傅苏颖)9月26日-9月29日，为期4天的第92届中国国际医疗器械博览会(CMEF)在中 国进出口商品交易会展馆(广州.广交会展馆)举办。展览面积近16万平方米，来自近20个国家和地区的近 3000家企业同台竞技，万余款新品集中亮相，预计将吸引超12万名专业观众入场。 CMEF被誉为全球医疗"风向标"。本届CMEF共设有28大主题展区，聚焦智能技术应用、核心部件国产 化、国际化合作、全周期健康管理等行业趋势，涵盖超声、放射、呼吸、麻醉、重症、消融、医疗机器 人、体外诊断、内窥镜、宠物健康、养老、康复及个人健康、医疗器械设计与制造等主题展区。脑机接 口、融合AI、医疗机器人、基因测序等前沿技术及诸多新品集中亮相。 本届CMEF还同期举办"医疗器械设计与制造""智慧健康""应急救援""宠物健康"等一系列热点领域的子 品牌展会，打造全产业链生态圈。 作为CMEF的核心子品牌，中国国际医疗器械设计与制造技术展览会(ICMD)聚焦医疗器械制造上游供应 链，致力于构建一个覆盖"设计-制造-服务"的完整产业生态体系。近500家国内外品牌携万余款产品参 展。其中，材料科学与新型应用领域的前沿成果首次集中亮 ...

Core Insights - The 92nd China International Medical Equipment Fair (CMEF) commenced in Guangzhou, showcasing over 3,000 companies and more than 10,000 new medical device products, emphasizing the theme of "Health, Innovation, Sharing" [1] Group 1: AI and Medical Devices - The integration of artificial intelligence is transforming the medical device industry, becoming a core driver for industry upgrades [2] - The CMEF features 28 thematic exhibition areas focusing on smart technology applications, domestic core component production, international cooperation, and comprehensive health management [2] - Highlights include innovative solutions in imaging, medical robotics, and rehabilitation technologies, attracting significant attention from attendees [2] Group 2: Health Consumption Trends - The "Healthy China 2030" strategy is driving an upgrade in health consumption, marking a golden period for the health industry [3] - The introduction of the International Health Lifestyle Exhibition aims to create new consumption scenarios that integrate medical, preventive, nurturing, and care services [3] - The event includes a "Health Lifestyle Carnival" designed to provide immersive experiences related to health management and quality of life [3] Group 3: Industry Ecosystem Development - CMEF serves as a pivotal platform for product and technology exchange, fostering the integration of production and exhibition [4] - The event includes sub-brand exhibitions covering the entire medical health industry chain, focusing on design, manufacturing, and service ecosystems [4] - Innovations in rehabilitation and personal health technologies are showcased, promoting the integration of smart health solutions with the aging population [4] Group 4: Pet Health Sector Growth - The AHC Pet Health Exhibition highlights advancements in pet oncology screening and rehabilitation devices, promoting the transfer of human medical technologies to pet healthcare [5] Group 5: Forums and Industry Insights - Over 60 high-level forums and thematic meetings are held during the event, discussing key topics such as international cooperation, policy regulations, and market expansion [6] - The release of the "China Medical Device Innovation Research White Paper" provides insights into global medical device research output and competitive landscape from 2015 to 2024 [6] - The event aims to enhance the international market penetration of Chinese medical devices, leveraging Guangdong's comprehensive industry ecosystem [6]

作为河北省沧州市医药零售领域的标杆企业，狮城百姓大药房自创立以来，已形成覆盖区域核心商圈与社区的连锁服务网络，凭借专业药事服务团队、智 能化药品管理系统及多元化健康产品矩阵，成为百姓身边的 "健康守护者"。贾建忠董事长在大圣驾到十二周年庆典致辞中感慨道："十二载深耕，大圣驾 到从单一服务走向全生命周期健康管理，这份坚持与创新令人敬佩。我常说，'想成为谁，就去模仿谁'—— 模仿不是照搬，而是深研其内核、借鉴其路 径，再走出自己的特色。大圣驾到在家庭健康服务中的布局与实践，正是值得我们深入学习的范本。" 他进一步表示，大圣驾到 5.0 数智化家庭健康调理 模式实现了传统中医与现代科技的完美融合，这与狮城百姓 "专业、品质、细致、温度" 的服务宗旨高度契合。 2025 年 9 月 12 日，河北狮城百姓大药房连锁有限公司董事长贾建忠、总裁杜兆鹏、养生中心负责人张红一行莅临大圣驾到总部参观交流，恰逢大圣驾到 十二周年庆典之际。双方就大健康产业创新发展、儿童健康管理体系建设及中医适宜技术标准化推广等议题展开深度探讨，旨在响应 "健康中国" 战略号 召，探索专业医药资源与普惠健康服务的融合路径，为家庭健康管理领域注入新动 ...

Core Insights - The 92nd China International Medical Equipment Fair (CMEF) will take place in Guangzhou from September 26 to 29, with a theme of "Health, Innovation, Sharing - Co-creating a New Global Blueprint for Healthcare" [1] - The exhibition area will cover nearly 200,000 square meters, attracting around 3,000 companies from nearly 20 countries and expecting over 120,000 professional visitors [1] - Guangzhou's strategic position as a core hub in the Guangdong-Hong Kong-Macao Greater Bay Area, supported by a comprehensive transportation network, enhances the event's role as a medical technology hub [1] Industry Overview - This year's CMEF will feature 28 thematic exhibition areas, showcasing a complete ecological chain from "source research" to "end application," with a focus on "AI + healthcare" as a core highlight [2] - Innovations in medical robotics and high-end imaging equipment, such as the world's first digital heart-specific SPECT, will be presented, emphasizing advancements in domestic equipment and intelligent upgrades [2] - The introduction of the "International Healthy Lifestyle Exhibition" marks a strategic upgrade for CMEF, aligning with the trend of health management in China, which is projected to reach a market size of 21,898 billion yuan by 2025 and exceed 32 trillion yuan by 2030 [2] Event Features - The fair will emphasize "integration of production and exhibition," hosting sub-brand exhibitions on medical device design and manufacturing, smart health, emergency rescue, and pet health [3] - Nearly 500 brands will participate in the China International Medical Device Design and Manufacturing Technology Exhibition (ICMD), showcasing the implementation of smart manufacturing in healthcare [3] - The event will also feature around 70 high-end forums covering international cooperation, policy regulations, and market expansion, providing cutting-edge insights for the industry [3]

Core Insights - Xiangda Biotechnology has been recognized in the "Forbes Asia 100 to Watch 2025" list, highlighting its achievements and growth potential in the biotech innovation sector [1][3] Recognition - The "Forbes Asia 100 to Watch" list is known for its rigor and authority, aimed at identifying the most innovative and growth-oriented emerging companies in the Asia-Pacific region. Xiangda's inclusion reflects high international recognition of its technological strength and commercial value [4] Innovation and Technology - Xiangda Biotechnology focuses on cutting-edge biotechnological research and application, utilizing its proprietary PHASiFYTM sample concentration extraction technology and intelligent diagnostic platform. Key advantages include: - Enhanced detection sensitivity by 10-100 times, significantly improving early disease detection rates [5] - User-friendly and cost-optimized testing solutions, making advanced diagnostic technology accessible to a broader population [5] - Coverage of multiple diseases, including infectious diseases and early cancer screening [5] - A comprehensive health management solution throughout the product lifecycle [5] Health Management Services - The company offers an integrated health management service system for users, which includes: - Preventive screening with home testing products for infectious diseases and tumors, allowing users to access clinical-grade testing services at home [6] - Accurate diagnostic support for common cancers, ensuring reliability of results [7] - A personalized health intervention system based on testing data, creating a complete health management loop [7] Future Outlook - Following a recent $34 million Series A financing, Xiangda is accelerating its strategic initiatives, which include: - Deepening technological innovation and developing flagship products based on PHASiFYTM technology - Building an intelligent production system to enhance capacity and quality control - Expanding into Asia-Pacific and European markets to promote global business development - Strengthening collaborations with medical institutions and research organizations to build a comprehensive health ecosystem [7]

Core Viewpoint - The academic exchange conference focused on the integration of technology and nutrition management, aiming to enhance public health through innovative solutions and collaborative efforts among various stakeholders [1][3][19]. Group 1: Policy and Technological Empowerment - The conference highlighted the foundational role of nutrition in improving national health and quality of life, with emphasis on the need for government, enterprises, and society to work together in implementing the National Nutrition Plan [6][15]. - The "Healthy China 2030" initiative sets clear and quantifiable goals, aligning with the strategic direction of companies like Nu Skin, which focuses on leveraging advanced technologies such as gene expression science and artificial intelligence in health management [5][19]. Group 2: Clinical and Practical Insights - Experts discussed the importance of clinical nutrition interventions and the need for innovative approaches in health management, particularly in the context of chronic disease prevention [10][12]. - The concept of "hidden hunger" was introduced, emphasizing the need for balanced diets and healthy lifestyles to mitigate chronic disease risks [8][12]. Group 3: Technological Innovations - Nu Skin introduced the PRYSM iO hyperspectral scanner, a non-invasive device that measures skin carotenoid levels to assess antioxidant capacity and nutritional status, representing a shift towards scientific quantification in health management [12][13]. - The device's development is based on over 40 years of research and aims to provide a portable tool for community and family health management [12][19]. Group 4: Collaborative Efforts and Future Directions - The conference underscored the need for collaboration among various sectors, including media, healthcare, and enterprises, to promote proactive health management and enhance public understanding of nutrition [15][16]. - Future initiatives will focus on expanding insurance coverage for nutritional services and improving access to quality healthcare resources in communities [15][16].

Core Viewpoint - The conference focused on the integration of technology in nutrition and health management, emphasizing the importance of personalized and precise nutrition in combating chronic diseases and enhancing clinical nutrition interventions [1][2]. Group 1: Industry Insights - The "Healthy China 2030" initiative sets clear and quantifiable goals, aligning with the strategic direction of companies like Nu Skin, which aims to leverage cutting-edge technologies such as gene expression technology, artificial intelligence, and big data to focus on anti-aging, metabolic health, and cognitive health [1]. - The China Health Association highlighted the importance of personalized and precise nutrition, drawing from over 40 years of experience in health food research and development to create comprehensive metabolic health management solutions [1]. Group 2: Clinical Perspectives - The concept of "hidden hunger" was introduced, advocating for a balanced diet based on the "Dietary Guidelines for Chinese Residents (2022)" to mitigate chronic disease risks through balanced eating, appropriate exercise, and early prevention [2]. - Clinical nutrition should follow a "5-step therapy" approach, tailoring nutritional education and supplementation based on patient conditions, particularly for vulnerable groups such as cancer patients, the elderly, and pregnant women [3]. Group 3: Technological Innovations - Nu Skin introduced the PRYSM iO hyperspectral scanner, which utilizes non-invasive technology to measure skin carotenoid levels, reflecting antioxidant capacity and nutritional status, addressing the widening gap between health span and life expectancy [4]. - The PRYSM iO device collects extensive skin reflection data in just 15 seconds, employing AI-driven machine learning to generate a body defense index, marking a shift from vague assessments to scientific quantification in nutritional health management [5]. - The company aims to provide a full lifecycle health management service, integrating health data with personalized health management solutions, thereby contributing to the high-quality development of the health industry [5].

Investment Rating - The report does not explicitly state an investment rating for the menopausal syndrome medication industry in China. Core Insights - The menopausal syndrome medication industry in China is evolving from a phase of being overlooked to one of significant potential, driven by both Western and traditional Chinese medicine approaches. The industry is expected to see increased demand for non-hormonal therapies and a shift towards proactive health management for women [2][3]. Summary by Sections Industry Overview - Menopausal syndrome is characterized by a range of symptoms due to hormonal fluctuations during the transition to menopause, including menstrual irregularities, hot flashes, and emotional disturbances [2][19]. - The treatment landscape includes both Western medicine, primarily hormone replacement therapy, and traditional Chinese medicine, which offers a differentiated competitive advantage [2][3]. Market Size Analysis - The market for menopausal syndrome medications in China is projected to grow significantly, reaching 169.7 billion yuan by 2024, with a further increase to 449.6 billion yuan by 2029. The market is currently split between Western medications (88.8 billion yuan) and traditional Chinese medicines (80.9 billion yuan) [30][31]. - The growth is driven by unmet medication needs and the optimization of healthcare resources, particularly in under-served regions [31][32]. Industry Chain Analysis - The industry chain consists of upstream suppliers of raw materials, midstream manufacturers of chemical and traditional medicines, and downstream distribution through pharmacies and healthcare institutions [46][48]. - The core product in the chemical medication segment is progesterone, while traditional Chinese medicines include well-known formulas like Liuwei Dihuang Wan [47][63]. Competitive Landscape - The competitive environment is characterized by a diverse range of players, particularly in the traditional Chinese medicine sector, where many companies are establishing differentiated positions [72]. - The emergence of innovative non-hormonal therapies is expected to reshape the competitive dynamics, alongside the need for robust clinical evidence for traditional Chinese medicines [72].

Core Viewpoint - The recent issuance of the "Guiding Opinions on Promoting Ear and Hearing Health Work" marks a significant shift in China's approach to hearing health, elevating it from a marginal issue to a national health priority with clear goals set for 2030 [1][2]. Group 1: Policy Framework and Goals - The "Opinions" establish a comprehensive framework for ear and hearing health, emphasizing prevention, early detection, intervention, and effective rehabilitation across all age groups [1][3]. - By 2030, the goals include having 4.2 ENT specialists per 100,000 people, with over 95% of county hospitals having independent ENT departments, and ensuring that cities have capabilities for hearing and language rehabilitation [3][4]. Group 2: Industry Impact and Development - The issuance of the "Opinions" is expected to enhance social awareness of hearing rehabilitation, driving the industry towards a more integrated service model that spans the entire patient journey from prevention to rehabilitation [2][7]. - The policy aims to transition the hearing health industry from a fragmented approach to a comprehensive management system, fostering collaboration among various stakeholders and encouraging the integration of advanced technologies like AI [5][6]. Group 3: Market Potential and Investment Opportunities - The hearing health sector in China has a vast unmet demand, with only 5% of those needing hearing aids currently using them, compared to 20%-30% in Western countries, indicating significant growth potential [6][8]. - The policy is seen as a catalyst for investment in the hearing health industry, with companies exploring acquisitions and expanding service networks in response to the new regulatory environment [7][8].

Core Viewpoint - Huapont Life Sciences Co., Ltd. reported a slight increase in revenue and a significant rise in net profit for the first half of 2025, indicating strong performance across its business segments, particularly in pharmaceuticals and healthcare services [9][12][15]. Company Overview and Financial Indicators - The company operates in five major sectors: pharmaceuticals, healthcare, agrochemicals, new materials, and tourism, with a focus on skin health and clinical medications [11][12]. - Total revenue for the reporting period was approximately CNY 5.95 billion, a 0.39% increase year-on-year [9]. - Net profit attributable to shareholders was approximately CNY 388.46 million, reflecting a 23.90% increase compared to the previous year [9]. - The company’s total assets reached approximately CNY 29.65 billion, up 0.69% from the end of the previous year [9]. Business Segments Pharmaceuticals - The company emphasized product development, achieving A certification for raw materials and obtaining market approval for six new formulations, including a first-of-its-kind psoriasis treatment [12][15]. - The pharmaceutical segment is expanding its market presence both domestically and internationally, with a focus on prescription markets and new product launches [12][15]. Healthcare - The company is enhancing its healthcare services through the establishment of specialized clinics and hospitals, focusing on quality care and expanding service offerings [13][18]. - The Chongqing Songshan Hospital has added new specialty clinics and increased its bed capacity, indicating growth in healthcare service demand [13][18]. Agrochemicals - The agrochemical sector is experiencing a recovery, with improved profitability driven by seasonal demand and rising prices for certain products [14][24]. - The company has a comprehensive product line in agrochemicals, including herbicides and insecticides, and is actively expanding its market reach [24]. New Materials - The new materials segment focuses on high-performance polymers and fine chemicals, with a strong emphasis on research and development [24]. - The company is recognized as a leading producer of chlorosulfonic acid and aramid polymer intermediates, catering to various industries [24]. Tourism - The tourism business is leveraging popular scenic spots to enhance visitor experiences, with operations in transportation and hospitality [25]. - The company is actively managing several hotels and transportation services in key tourist destinations, contributing to its overall revenue growth [25].