28 August 2025 | 2:58PM CST Mindray (300760.SZ): Earnings review: 1H25 miss on faster channel inventory destocking; guides for a turning point in Q3; Buy Mindray reported 1H25 results on Aug 27, 2025. 1H25 revenue decreased by 18.4% (-7.4% vs. GSe), where we saw both China revenue (-33.4% yoy) and overseas revenue (+5.4% yoy) were lower-than-expected mainly due to 1) China's channel inventory destocking in 2Q25 despite strong procurement activities; and 2) weaker performance in patient monitor and life supp ...