Core Viewpoint - Mindray Medical is solidifying its leading position in the global medical device industry by building a global R&D system and supply chain network [1] Group 1: Financial Performance - In the first half of 2025, Mindray Medical achieved operating revenue of 16.743 billion yuan, with international business revenue accounting for approximately 50% of total revenue [1] - The company's international business grew by 5.39% year-on-year, contributing significantly to overall performance [4] Group 2: R&D Investment - Mindray Medical maintained a high R&D investment, allocating about 10% of its operating revenue, amounting to 1.777 billion yuan in the first half of 2025 [2] - The company has established a global R&D innovation platform with twelve R&D centers located in various cities, including Shenzhen, Wuhan, and several locations in the United States and Europe [2][3] - As of June 30, 2025, Mindray Medical had applied for a total of 12,240 patents, including 8,818 invention patents, with 6,126 patents granted [3] Group 3: International Business Growth - The international business is expected to accelerate in the second half of 2025, particularly in the in vitro diagnostics sector, with local production projects initiated in 14 countries [4] - Mindray Medical's life information and support business is penetrating high-end customer segments in various countries, including the UK, France, and India [4] - The company anticipates stable and rapid growth in its international medical imaging business throughout the year [5] Group 4: Strategic Initiatives - Mindray Medical's commitment to building a global R&D and supply chain system reflects the broader trend of Chinese medical device companies expanding into international markets [6]