88%执业医师的伙伴，精准营销助力创新药商业化，AI 持续赋能平台 [Table_CoverStock] —医脉通(2192.HK)公司深度报告 [Table_ReportDate] 2025 年 8 月 25 日 S1500523080002 S1500524030003 [Table_CoverAuthor] 唐爱金 医药行业首席分析师 章钟涛 医药行业分析师 tangaijin@cindasc.com zhangzhongtao@cindasc.com 证券研究报告 公司研究 [Table_ReportType] 公司深度报告 [Table_StockAndRank] 医脉通（2192.HK） 投资评级 买入 上次评级 [Table_Chart] 资料来源： ifind ，信达证券研发中心 [Table_BaseData] 公司主要数据 | 收盘价（港元） | 14.65 | | --- | --- | | 52 周内股价波动区间 | 6.71-17.18 | | (港元) | | | 最近一月涨跌幅(％) | -2.33 | | 总股本(亿股) | 7.34 | | 流通 H 股比例(％) | 100 ...

Group 1 - The Hong Kong pharmaceutical sector is experiencing a strong performance, with the CSI Hong Kong Stock Connect Medical Theme Index rising by 1.93% on May 20, 2023 [1] - Notable stock performances include CSPC Pharmaceutical Group increasing over 8%, and other companies like Sinopharm, Hansoh Pharmaceutical, and others rising over 6% [1] - The Hong Kong Medical ETF (159366) also saw a rise of 2.33%, with a trading volume of 10.5768 million yuan, reflecting the overall performance of listed companies in the medical field [1] Group 2 - Haitong International predicts a significant turning point for the Hong Kong medical industry by 2025, driven by stricter regulatory policies and accelerated review and approval processes for innovative drugs and medical devices [2] - The implementation of the "filing system" for medical representatives and the "licensing system" for doctors is expected to shift marketing behaviors towards compliance and academic focus, increasing the demand for digital marketing, with the digital medical marketing market projected to reach 20-40 billion yuan by 2025 [2] - The approval of 48 innovative drugs and 65 innovative medical devices by the National Medical Products Administration in 2024 is anticipated to boost the number of new products and drive industry innovation [2] Group 3 - Guosen Securities also anticipates a significant turning point for the Hong Kong medical industry by 2025, driven by policy incentives and breakthroughs in innovative technologies [3] - The acceleration of the review and approval process for innovative drugs and medical devices is expected to further enhance industry innovation, with 48 innovative drugs and 65 innovative medical devices approved in 2024 [3] - The deepening application of AI technology in the medical field, supported by policies for the construction of innovative platforms, is expected to significantly improve industry efficiency, particularly in cost reduction and precision medicine [3]