国际医学回复：您好，感谢您对公司的关注。中央经济工作会议对2026年医疗健康领域"三医协同"、药 品集采优化及医保支付方式改革的深化部署，体现了国家推动行业高质量发展的坚定决心，这对所有医 疗机构都提出了更高要求，也蕴含着新的发展机遇。面对行业政策的持续深化，公司将坚持发展战略目 标，以稳健经营为基础，强化成本管控和效率提升；以提升医疗质量和服务体验为核心，加强学科建 设，不断优化患者服务体系；以差异化策略构建竞争优势，增强服务附加值；积极适应行业变革，实现 服务规模的有序扩张、运营效率的持续优化、经营业绩的改善提升。谢谢! 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，国际医学(000516)12月29日在投资者关系平台上答复投资者关心的问题。 投资者提问：中央经济会议已经开完了，26年针对三医协同，优化药品集中采购，深化医保支付方式改 革，贵公司明年日子可能会更苦，不知道贵司能不能撑的住？ ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Pharmaceutical Industry - **Key Focus**: Policy outlook for the second half of 2025, emphasizing basic healthcare and innovation support [1][2] Core Insights and Arguments - **Policy Direction**: The government aims to enhance medical accessibility and affordability while strengthening industry regulation. The focus is on supporting pharmaceutical innovation to meet clinical needs and achieve economic and social benefits [1][2] - **Support for Innovative Drugs**: The National Healthcare Security Administration (NHSA) and the National Health Commission (NHC) have introduced measures to support innovative drug development across five areas: R&D, insurance catalog, clinical application, diversified payment, and security measures. The commercial insurance innovation catalog is a highlight, allowing companies to apply concurrently and negotiate settlement prices [1][6][11] - **Separate Payment System Progress**: The separate payment system for innovative drugs is gradually advancing, with an increase in the number of domestic drugs included in Guangdong's separate payment scope. This is expected to enhance market access and coverage for innovative drugs [1][7] - **Drug Procurement Optimization**: The 11th batch of national drug procurement has optimized reporting methods and bidding rules, raising the bidding threshold and clarifying that new drugs will not be included in procurement. This aims to improve quality control and ensure reasonable pricing [1][13][14] Additional Important Content - **Real-Time Settlement**: As of May 2025, real-time settlement has been implemented in 300 regions, covering 77% of the country, with a total of 300 billion yuan allocated from the medical insurance fund. However, the impact on the growth rate of the insurance fund remains limited [3][15][16] - **Regulatory Environment**: The regulatory intensity in the healthcare sector will remain high, with ongoing efforts to address misconduct in medical procurement and retail pharmacy sectors [3][17][28][29] - **Medical Equipment Market**: The bidding scale for medical equipment is gradually increasing, with significant growth in areas such as medical imaging and surgical robots. However, the terminal prices are under pressure due to centralized procurement [3][23][24][25] - **IVD (In Vitro Diagnostics) Sector**: The IVD sector is experiencing slower progress in price adjustments due to different pricing mechanisms in hospitals, but there is a significant potential for domestic substitution as imported products still hold a large market share [20][21] Conclusion The pharmaceutical industry is undergoing significant changes driven by government policies aimed at enhancing healthcare accessibility and supporting innovation. The focus on regulatory compliance and quality control is expected to shape the industry's future landscape, with opportunities for growth in innovative drugs and medical equipment sectors.