Core Viewpoint - The company, Mindray Medical (300760), is experiencing a recovery in its business performance, particularly in the international market, despite facing challenges in the domestic market due to industry adjustments and geopolitical issues [2]. Group 1: Financial Performance - As of October 31, 2025, Mindray Medical's stock closed at 215.04 CNY, down 0.76%, with a turnover rate of 0.9%, trading volume of 108,900 lots, and a transaction value of 2.344 billion CNY [1]. - In the third quarter, the company reported a revenue of 9.091 billion CNY, marking a year-on-year growth of 1.53%, indicating a positive turnaround in revenue growth [2]. Group 2: Market Dynamics - The company noted that the domestic market is seeing a recovery in medical equipment bidding activities, with a significant narrowing of revenue decline in the third quarter [2]. - Internationally, the company achieved a 12% year-on-year growth in its international business during the third quarter, benefiting from a strong high-end customer base and improved localization capabilities [2]. Group 3: Investor Sentiment - On October 31, there was a net inflow of 262 million CNY from major funds, indicating positive sentiment and active positioning by institutional investors in Mindray Medical [3]. - Retail investors showed a net outflow of 134 million CNY, suggesting a divergence in sentiment between institutional and retail investors [3].