Core Viewpoint - The report from CITIC Securities indicates that multiple policy documents related to tumor gene testing will be issued by China's regulatory bodies, which will facilitate the industry's healthy development and mark a second turning point for tumor gene testing in China [1]. Industry Summary - In 2025, the National Medical Products Administration, the National Healthcare Security Administration, and the National Health Commission will introduce various policies concerning tumor gene testing, covering registration approval, pricing, medical insurance, and clinical applications [1]. - The period from 2026 to 2030 is expected to be a golden development phase for China's tumor gene testing industry, driven by favorable policies, technology advancements, and market conditions [1]. - The industry is anticipated to undergo a new round of consolidation, with smaller companies lacking qualifications, technology, and financial advantages likely to be eliminated [1]. Company Summary - Leading companies are expected to establish a differentiated competitive landscape through a model of "compliant products + in-hospital co-construction + overseas expansion" [1]. - The report actively recommends investments in: 1) companies providing gene sequencing services; 2) leading firms in tumor companion diagnostics [1].

Core Viewpoint - The report from CITIC Securities indicates that multiple policy documents related to tumor gene testing will be issued by China's regulatory bodies, including the National Medical Products Administration, the National Healthcare Security Administration, and the National Health Commission, by 2025. This regulatory framework is expected to facilitate the second turning point for the tumor gene testing industry, leading to a healthier development trajectory [1] Industry Summary - The period from 2026 to 2030 is projected to be a golden development phase for China's tumor gene testing industry, driven by favorable policies, technological advancements, and market dynamics [1] - The industry is anticipated to undergo a new round of consolidation, with smaller companies lacking qualifications, technology, and financial advantages likely to be eliminated [1] - Leading companies are expected to establish a differentiated competitive landscape through a model that includes "compliant products + in-hospital co-construction + overseas expansion" [1] Investment Recommendations - The report actively recommends investment in: 1) Companies involved in gene sequencing [1] 2) Leading firms in tumor companion diagnostics [1]