截至6月30日，瑞迈特股东户数6850.00，较上期减少24.87%；人均流通股8251股，较上期增加33.11%。 2025年1月-6月，瑞迈特实现营业收入5.44亿元，同比增长42.30%；归母净利润1.31亿元，同比增长 42.19%。 分红方面，瑞迈特A股上市后累计派现2.28亿元。 机构持仓方面，截止2025年6月30日，瑞迈特十大流通股东中，香港中央结算有限公司退出十大流通股 东之列。 责任编辑：小浪快报 10月10日，瑞迈特涨2.91%，成交额1.23亿元。两融数据显示，当日瑞迈特获融资买入额1219.67万元， 融资偿还919.60万元，融资净买入300.07万元。截至10月10日，瑞迈特融资融券余额合计1.09亿元。 融资方面，瑞迈特当日融资买入1219.67万元。当前融资余额1.08亿元，占流通市值的2.25%，融资余额 超过近一年50%分位水平，处于较高位。 融券方面，瑞迈特10月10日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量8100.00股，融券余额68.47万元，低于近一年40%分位水平，处于较低位。 资料显示，北京瑞迈特医疗科技股份有 ...

China (PRC) | Medical Supplies & Devices United Imaging Equity Research United Imaging differentiates itself from global peers (GE, Philips, Siemens) by maintaining R&D spend above 20% of revenue and leveraging a single-platform approach across modalities, enabling faster product launches at lower cost. The company focuses on feature- rich products, competitive pricing (~15% lower), and strong service packages, rather than pure price competition. This strategy has allowed it to gain share domestically and b ...

服务型制造是实现制造与服务融合发展的新型产业形态。工业和信息化部、人力资源社会保障部、商务 部等七部门日前印发《深入推动服务型制造创新发展实施方案（2025—2028年）》，旨在打造服务型制 造升级版，发展壮大新质生产力。 "产业融合是一个复杂的过程。"中国服务型制造联盟专家委员会副主任罗仲伟认为，服务型制造面临着 关键技术供给能力薄弱、标准体系尚不健全、统计监测难度较大等问题。 何为服务型制造？ "服务型制造的核心是制造业通过增加服务要素的投入和产出，融合发展，从单纯出售产品向出售'产品 +服务'转变。"服务型制造研究院院长刘尚文说，随着产业融合发展不断深化，服务型制造已成为制造 业发展的重要方向。 北京大学深圳医院的急诊重症监护病房内，监护仪、除颤仪、呼吸机等床旁设备一应俱全，同时还部署 了瑞智重症决策辅助系统，能显著提升急诊重症的救治效率。 "我们基于持续增长的装机体量，提供长期、差异化的整体解决方案，并通过与人工智能的结合，完成 了'设备+IT+AI'的数智医疗生态系统搭建。"迈瑞医疗有关负责人介绍，"产品+服务"的形式在赋能医院 精益化管理的同时，也为公司打造起独特的竞争优势。 记者发现，在实践中， ...

行 业 及 产 业 医药生物 2025 年 10 月 12 日 本 周 申 万 医 药 生 物 指 数 下 跌 行 业 研 究 / 行 业 点 评 本期投资提示： ⚫ 市场表现：本周申万医药生物指数下跌 1.2%，同期上证指数上涨 0.4%，万得全 A（除 金融石油石化）下跌 0.5%。本周医药生物指数在 31 个申万一级子行业中表现排名第 25 。 各 三 级 板 块 涨 跌 幅 为 ： 原 料 药 （ -0.7% ） 、 化 学 制 剂 （ -2.5% ） 、 中 药 （+1.5%）、血液制品（+1.4%）、疫苗（+0.7%）、其他生物制品（-1.7%）、医疗 设备（-0.2%）、医疗耗材（+0.2%）、体外诊断（-0.6%）、医药流通（+0.8%）、 线下药店（+0.3%）、医疗研发外包（-5.3%）、医院（+1.8%）。当前医药板块整体 估值 30.9 倍，在 31 个申万一级行业(2021)中排名第 10。 本研究报告仅通过邮件提供给 中庚基金 使用。1 《本周医药上涨 3.1%，医保局发布按病种 付费管理暂行办法和医保"双目录"初审 名单，司美在美获批治疗 MASH ——医药 行业周报（2025/ ...

Core Insights - The article discusses the shift in the surgical robot market in China from being dominated by foreign brands to a more competitive landscape with domestic companies making significant advancements in technology and clinical applications [1][2][3]. Market Overview - The global surgical robot market is projected to grow from approximately $18.074 billion in 2023 to $20.4 billion in 2024, with a compound annual growth rate (CAGR) of 23.75% over the next five years [1]. - The Chinese surgical robot market is expected to reach approximately 9.59 billion yuan in 2024, with a CAGR of 34.5%, and is projected to grow to 11.03 billion yuan by 2025 [2]. Competitive Landscape - Currently, the domestic surgical robot market is characterized by a "foreign dominance, domestic pursuit" trend, with the top eight brands in sales being evenly split between imported and domestic brands [3]. - As of 2025, the market share of domestic brands in the surgical robot sector is approximately 29.82%, while imported brands hold 70.18% [4]. Brand Performance - Intuitive Surgical's Da Vinci system maintains a leading position in the laparoscopic surgical robot market with a market share of 53.8% as of Q2 2025, generating revenue of $2.44 billion (approximately 17.5 billion yuan) with a year-on-year growth of 21.4% [5][7]. - Domestic brands are gaining traction, with a significant increase in the number of Da Vinci robots installed in China, rising from a 42% market share to 62% [7]. Growth of Domestic Brands - From January to May 2025, the number of domestic surgical robots awarded contracts increased by 82.9%, indicating a strong competitive push against foreign brands [9]. - The domestic market for laparoscopic surgical robots has seen a domesticization rate of approximately 44.4% in Q1 2025, meaning nearly 4.5 out of every 10 new installations are from domestic brands [9]. Pricing Dynamics - Domestic surgical robots are priced significantly lower than their foreign counterparts, with prices for domestic laparoscopic robots typically ranging from 12 million to 18 million yuan, compared to the Da Vinci system's price range of 14.99 million to 24.92 million yuan [13][14]. - The price competition has intensified, with some domestic brands offering robots at prices as low as 5.38 million yuan, while the Da Vinci system averages around 23 million yuan [25]. Challenges and Opportunities - Despite rapid growth, domestic surgical robot manufacturers face challenges such as reliance on imported core components, which account for 70-80% of the total cost [17]. - The technological gap between domestic brands and international leaders like Intuitive Surgical remains significant, with the latter holding over 700 patents that create a strong barrier to entry [20]. Future Directions - To succeed, domestic surgical robot companies must innovate through technology upgrades and business model transformations, such as integrating 5G and AI technologies to enhance operational efficiency and reduce costs [38][40]. - The Chinese government has introduced supportive policies, including insurance coverage for surgical robots, which could facilitate market penetration and adoption [44][45]. Conclusion - The future of domestic surgical robots hinges on achieving technological independence, leveraging AI and 5G, and establishing sustainable business models to transition from merely entering the operating room to securing a stable presence within it [46].

Investment Rating - The report indicates a positive investment outlook for the innovative pharmaceutical sector, suggesting a focus on companies with sustained high growth in performance [3][4][11]. Core Insights - The innovative pharmaceutical industry is expected to continue its high revenue growth trend, with specific attention on companies in the medical devices, CXO, and upstream sectors [3][4]. - The report highlights the performance forecasts for 22 pharmaceutical companies, with several expected to achieve significant profit growth in Q3 2025 [3][4]. - The report emphasizes the importance of monitoring companies that consistently maintain high growth rates, such as 恒瑞医药 (Hengrui Medicine), 迈瑞医疗 (Mindray), and others [3][4][11]. Performance Forecasts - As of October 11, 2025, two pharmaceutical companies have released their Q3 2025 performance forecasts, with 重药控股 (Zhongyao Holdings) expecting a profit growth rate between 39.89% and 117.47%, and ST 诺泰 (ST Nuotai) expecting a growth rate between 5.62% and 13.74% [4]. - The report predicts that five companies will achieve profit growth rates of 40% or more, including 以岭药业 (Yiling Pharmaceutical) and 福瑞股份 (Furui Co.) [3][4]. - Revenue forecasts for 33 pharmaceutical companies indicate that seven companies are expected to achieve revenue growth rates of 40% or more, including 三生国健 (3SBio) and 艾迪药业 (Eddie Pharmaceuticals) [3][4]. Company-Specific Insights - The report provides detailed profit and revenue forecasts for various companies, indicating significant expected growth for companies like 以岭药业 (Yiling Pharmaceutical) with a projected profit increase of 1150% year-on-year [6][9]. - Specific revenue growth rates are forecasted for companies such as 恒瑞医药 (Hengrui Medicine), which is expected to achieve a revenue increase of 12% to 17% [10][11]. - The report includes a valuation table for key companies, indicating projected earnings per share (EPS) and price-to-earnings (PE) ratios for the coming years [11].

Investment Rating - The industry investment rating is "Overweight," indicating that the industry is expected to outperform the overall market [18]. Core Insights - The report emphasizes the sustained high growth of innovative drugs and suggests focusing on companies with consistently high performance in the innovative drug sector, as well as those in the medical devices, CXO, and upstream segments that are showing significant improvement [3][4]. Performance Forecast - As of October 11, 2025, two pharmaceutical companies have released performance forecasts for Q3 2025, with Heavy Drug Holdings expecting a profit growth rate between 40% and 117%, and ST Nuotai expecting a growth rate between 6% and 14% [4]. - For Q3 2025, the report predicts the following net profit growth rates for 22 pharmaceutical companies: - 5 companies with growth rates of 40% and above: Yiling Pharmaceutical, Furuide, Huakang Clean, Haitai New Light, and Beida Pharmaceutical - 3 companies with growth rates between 20% and 35%: Heng Rui Pharmaceutical, Jianyou Pharmaceutical, and Zuoli Pharmaceutical - 7 companies with growth rates between 10% and 20%: Wo Wu Biological, Jingxin Pharmaceutical, Enhua Pharmaceutical, Xinmai Medical, Kaiyin Technology, Huaxia Eye Hospital, and Qianyuan Pharmaceutical - 6 companies with growth rates between 0% and 10%: Aier Eye Hospital, Kangchen Pharmaceutical, Renfu Pharmaceutical, Weier Pharmaceutical, Jiuzhitang, and Guangyuyuan - 1 company is expected to turn a profit: New Mileage [3][4][6]. Revenue Forecast - The report forecasts revenue growth for 33 pharmaceutical companies in Q3 2025 as follows: - 7 companies with growth rates of 40% and above: San Sheng Guo Jian, Aidi Pharmaceutical, Xinmai Medical, Zejing Pharmaceutical-U, Huakang Clean, Dize Pharmaceutical-U, and Haitai New Light - 9 companies with growth rates between 20% and 40%: Nuo Cheng Jian Hua-U, Bai Ji Shen Zhou-U, Wei Xin Biological, Jun Shi Biological-U, Furuide, Kang Huo Nuo, Meng Ke Pharmaceutical-U, Ke Xing Pharmaceutical, and Qianyuan Pharmaceutical - 10 companies with growth rates between 10% and 20%: Olin Biological, Beida Pharmaceutical, Xinlitai, Wo Wu Biological, Guangyuyuan, Heng Rui Pharmaceutical, Kaili Medical, Kangchen Pharmaceutical, Kaiyin Technology, and Wu Ming Kang De - 3 companies with growth rates between 5% and 10%: Enhua Pharmaceutical, Mai Rui Medical, and Aier Eye Hospital - 4 companies with growth rates between 0% and 5%: Changchun High-tech, Runda Medical, Weier Pharmaceutical, and Yiling Pharmaceutical [3][7][9]. Key Companies to Watch - The report suggests focusing on companies that are expected to maintain high growth in Q3 2025, including Heng Rui Pharmaceutical, Changchun High-tech, Kelong Pharmaceutical, Enhua Pharmaceutical, Mai Rui Medical, Furuide, Xiangsheng Medical, Huakang Clean, Wu Ming Kang De, Kanglong Huacheng, Kailai Ying, Pruisi, and Hanbang Technology [3][4].

新华社北京10月11日电 题："制造+服务"，如何加出新活力？ 工业和信息化部数据显示，此前遴选的370多家服务型制造示范企业中，服务业务对营业收入增长的贡 献率达60%。 新华社记者周圆 服务型制造是实现制造与服务融合发展的新型产业形态。工业和信息化部、人力资源社会保障部、商务 部等七部门日前印发《深入推动服务型制造创新发展实施方案（2025—2028年）》，旨在打造服务型制 造升级版，发展壮大新质生产力。 何为服务型制造？ "服务型制造的核心是制造业通过增加服务要素的投入和产出，融合发展，从单纯出售产品向出售'产品 +服务'转变。"服务型制造研究院院长刘尚文说，随着产业融合发展不断深化，服务型制造已成为制造 业发展的重要方向。 北京大学深圳医院的急诊重症监护病房内，监护仪、除颤仪、呼吸机等床旁设备一应俱全，同时还部署 了瑞智重症决策辅助系统，能显著提升急诊重症的救治效率。 "我们基于持续增长的装机体量，提供长期、差异化的整体解决方案，并通过与人工智能的结合，完成 了'设备+IT+AI'的数智医疗生态系统搭建。"迈瑞医疗有关负责人介绍，"产品+服务"的形式在赋能医院 精益化管理的同时，也为公司打造起独特的竞 ...

10月10日，商务部召开专题新闻发布会。会上记者获悉，第138届广交会将于10月15日至11月4日分三期 在广州举办，线上平台继续常态化运营。本届广交会展览面积达155万平方米。展位总数7.46万个，参 展企业超3.2万家，均创历史新高，约3600家企业首次亮相。 据介绍，目前，各项筹备工作进展顺利，已基本就绪。而广州作为东道主，已组建由市主要领导挂帅的 广交会服务保障领导小组，全力护航第138届广交会顺利举办。 展会亮点 现场将展出智能类产品35.3万件 商务部外贸司司长王志华表示，本届广交会参展企业质量更好。从参展企业看，本届广交会拥有高新技 术、专精特新、单项冠军等称号的优质企业首次突破1万家，创历史新高，占出口展企业总数的34%。 现场将展出智能类产品35.3万件。从展区题材看，本届广交会首设智慧医疗专区，吸引手术机器人、智 能监测及可穿戴设备等47家企业参加，更好地展现我国医疗领域先进产品和技术。继续设服务机器人专 区，引入46家行业领先企业，展出具身机器人、机器狗等，培育外贸发展新亮点。 此外，本届广交会精准招商范围更广。本届广交会聚焦重点市场发力，目前，广交会全球合作伙伴增至 227家，覆盖11 ...

从展区题材看，本届广交会首设智慧医疗专区，吸引手术机器人、智能监测及可穿戴设备等47家企业参 加，更好展现我国医疗领域先进产品和技术。继续设服务机器人专区，引入46家行业领先企业，展出具 身机器人、机器狗等，培育外贸发展新亮点。 同时，精准招商范围更广。本届广交会聚焦重点市场发力，目前，广交会全球合作伙伴增至227家，覆 盖110个国家和地区。 此外，贸促活动数量更多。本届广交会首次举办外贸优品拓内销对接活动，设置约3000平方米对接专 区，积极助力内外贸一体化，服务国内国际双循环。举办超600场新品发布活动和13场主题论坛。 商务部对外贸易司司长王志华10月10日在商务部举行的第138届广交会专题新闻发布会上表示，第138届 广交会，也就是秋交会，将于10月15日至11月4日分三期在广州举办，线上平台继续常态化运营。本届 广交会展览面积达155万平方米。展位总数7.46万个，参展企业超3.2万家，均创历史新高，约3600家企 业首次亮相。目前，各项筹备工作进展顺利，已基本就绪。 本届广交会参展企业质量更好。王志华介绍，从参展企业看，本届广交会拥有高新技术、专精特新、单 项冠军等称号的优质企业首次突破1万家， ...