Core Points - The Cambodian Ministry of Industry and Technology Innovation has launched a nationwide product registration promotion campaign aimed at strengthening quality assurance systems, protecting consumer health, and enhancing market trust [1] - The campaign will run until the end of 2026 and offers discounts on registration fees and technical assistance [1] - The Minister of Industry and Technology Innovation emphasized that product registration is a government initiative to support the private sector and improve services, addressing market and consumer concerns [1] Summary by Categories Registration Discounts - Companies can receive discounts for registering multiple products: 10% off for 5 to 19 products, 15% off for 20 to 49 products, and 20% off for 50 or more products [1] Registration Process Improvements - The new registration mechanism allows for a three-year validity of certificates, completion of procedures within five working days, and the option for companies to choose any accredited laboratory for testing [1] - A dedicated team will be established by the Cambodian Standard Institute (ISC) to provide consultation and technical guidance, encouraging companies to apply directly to avoid additional costs from intermediaries [1] Consumer and Market Impact - The Minister called on companies to register products responsibly, transparently, and in accordance with the law, while urging consumers to prioritize purchasing registered products to maintain market order [1] - The Ministry has published a list of registered products on its official website and plans to fully implement a digital registration system by 2026 to simplify processes and enhance efficiency and transparency [1]

Core Insights - Six He Investment conducted a survey on a listed company, Anjisi, revealing confidence in annual targets despite a slight decline in North American sales due to US-China trade tariffs [1] - Anjisi's R&D expenses increased by 90.73% year-on-year, primarily for the development of Hang'an medical diagnostic equipment, with a soft endoscope entering the product registration phase [1] - Domestic sales revenue grew by 10.50%, although the gross margin decreased to 67.58% due to the impact of centralized procurement on hemostatic clips [1] Company Performance - Anjisi's ERCP product series is rapidly expanding, with single-pole ESD products trialed in over 250 hospitals and an admission rate of 20% [1] - The company's self-branded sales proportion is increasing, and it is collaborating with top KOLs in Europe and Asia-Pacific to deepen its global presence [1] - The Thai production base project is progressing steadily, with production costs higher than domestic levels, focusing on mid-to-low-end consumables [1] Regional Sales Insights - Sales revenue in Europe, Asia, and South America is growing, while North American sales are declining [1] - Multiple products are entering the product registration phase, indicating ongoing expansion efforts [1]

Group 1 - The core viewpoint of the article highlights the recent research conducted by the well-known private equity firm, Panhou Weiran, on a listed company, Anjiasi, amidst the backdrop of U.S.-China trade tensions affecting sales in North America [1] - Anjiasi's sales revenue in North America is expected to decline slightly in the first half of 2025 due to trade tariffs, but the company remains confident in achieving its annual targets [1] - The company's R&D expenses have increased by 90.73% year-on-year, primarily focused on the development of Hang'an medical diagnostic equipment, with the soft flexible endoscope entering the product registration phase [1] Group 2 - Domestic sales gross margin has decreased to 67.58%, mainly due to the impact of centralized procurement on hemostatic clips, although domestic sales revenue has grown by 10.50% [1] - The ERCP product series is experiencing rapid growth, with single-pole ESD products being trialed in over 250 hospitals and an admission rate of 20% [1] - Anjiasi is enhancing its global presence through increased sales of its own brand and collaborations with top KOLs in Europe and the Asia-Pacific region [1] Group 3 - The Thai production base project is progressing steadily, with production costs higher than those in China, and future plans to concentrate mid-to-low-end consumables production in Thailand [1] - Sales revenue in Europe, Asia, and South America is increasing, while North America is seeing a decline, with multiple products entering the product registration phase [1]