Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, but there are signs of recovery in the second quarter, particularly in the domestic market, while overseas business continues to grow steadily [1][2]. Financial Performance - In H1 2025, the company achieved operating revenue of 16.743 billion yuan, a year-on-year decrease of 18.45%, and a net profit attributable to shareholders of 5.069 billion yuan, down 32.96% [1]. - In Q2 2025, the company recorded operating revenue of 8.506 billion yuan, a year-on-year decline of 23.77%, and a net profit of 2.440 billion yuan, down 44.55% [1]. Market Analysis - Domestic revenue in H1 2025 was 8.411 billion yuan, a decrease of 33.38%, primarily due to extended bidding income recognition cycles and a skewed revenue base from the previous year [2]. - The overseas market generated revenue of 8.332 billion yuan, an increase of 5.39%, with its revenue share rising to 49.77% [2]. Business Segment Performance - The in-vitro diagnostics segment reported revenue of 6.424 billion yuan, down 16.11%, but international business saw double-digit growth [2]. - The life information and support segment generated revenue of 5.479 billion yuan, down 31.59%, with international business accounting for 67% of the segment [2]. - The medical imaging segment achieved revenue of 3.312 billion yuan, down 22.51%, with international business share increasing to 62% [2]. AI Business Development - The company is advancing its AI business with the launch of the "Qiyuan Critical Care Model" and ongoing upgrades to the "Sanrui" system, enhancing its offerings for high-end clients [3]. - In H1 2025, the "Ruijian Ecological" laboratory solutions were installed in 210 new hospitals, totaling nearly 800, with about 80% being tertiary hospitals [3]. - The "Ruizhi Ecological" solutions added 108 new projects, covering 38 top-tier hospitals, with over 1,000 hospitals reached cumulatively [3]. Profit Forecast - The company forecasts total operating revenue of 37.887 billion yuan, 43.262 billion yuan, and 49.914 billion yuan for 2025-2027, with year-on-year growth rates of 3.16%, 14.19%, and 15.38% respectively [3]. - Net profit attributable to shareholders is projected to be 11.909 billion yuan, 13.852 billion yuan, and 16.230 billion yuan for the same period, with growth rates of 2.07%, 16.31%, and 17.17% respectively [3].

近日，中华医学会第三届超声医学青年学术会议在河南省郑州市召开。本次会议由中华医学会、中华医学会超声医学分会主办，河南省医学会、河南省医学会超声专业委员会承办。 会议以"创新与活力"为主题，内容涵盖了临床问题、基础研究、科研创新、成果转化等当今超声医学领域热点难点，并结合了医工交叉、超声新技术、临床新方法、科研新思路等热门话题。 (2) TIP C (20 � r 迈瑞医疗瑞影生态产品经理翟静认为，超声临床科研的高效开展，需要有"端到端"的系统性关键能力支撑，而"瑞影生态"正是通过从数据采集到数据应用等全生命周期的赋能，让医生能有更多 以妇产超声应用为例，迈瑞医疗的AI技术对成像、工作流、定量分析、辅助诊断等各个环节赋能，从识别、测量、输出到数据分析全自动进行智能诊断，临床场景覆盖生殖备孕、早孕筛查、产筛 针对医疗资源不均，迈瑞医疗依托"智教培""智质控""智会诊"三位一体的"瑞影生态"均质医疗解决方案：前者构建闭环助力医生能力提升，中者全流程介入强化超声质量规范，后者通过全场景 据统计，"瑞影生态"的远程超声系统已覆盖超4.7万名专业用户，形成近7万个专业社区。2024年，该系统助力国内完成超万场在线教学、实 ...

Core Insights - The recent conference on ultrasound medicine highlighted the theme of "Innovation and Vitality," addressing clinical issues, basic research, scientific innovation, and the transformation of research outcomes in the field of ultrasound medicine [1] - Mindray Medical introduced the "Ruiying Ecosystem," focusing on the integration of "Equipment + IT + AI" to enhance ultrasound imaging capabilities and improve clinical efficiency [1][4] Group 1: Challenges in Ultrasound Imaging - Ultrasound imaging is currently facing challenges such as low diagnostic efficiency, uneven resource distribution, poor departmental collaboration, and obstacles in research [2] - The transition from "ultrasound imaging" to an "ultrasound imaging ecosystem" is necessary to address these challenges and improve overall healthcare delivery [2] Group 2: Ruiying Ecosystem Features - The Ruiying Ecosystem emphasizes end-to-end system capabilities, enabling efficient clinical research and allowing doctors to focus on innovative technologies and core academic research [2] - AI technology within the Ruiying Ecosystem enhances imaging, workflow, quantitative analysis, and diagnostic assistance, covering various clinical scenarios and significantly improving examination efficiency and accuracy [2] Group 3: Impact and Reach - The Ruiying Ecosystem's remote ultrasound system has reached over 47,000 professional users and formed nearly 70,000 professional communities, facilitating over 10,000 online teaching and real-time consultation sessions in 2024 [3] - The ecosystem supports multi-center research projects in major hospitals, contributing to advancements in ultrasound applications across various medical fields [3] Group 4: Future Directions - Mindray Medical's focus on "Equipment + IT + AI" is a key investment direction, with plans to enhance ultrasound imaging capabilities and quality through integrated solutions [4] - The launch of the Nuewa A20 comprehensive intelligent solution is expected to drive growth in the domestic ultrasound market, potentially increasing the localization rate and reducing reliance on imported brands [4] Group 5: Vision for the Future - The ongoing development of the Ruiying Ecosystem aims to promote personalized and universal ultrasound imaging technology in healthcare, collaborating with more medical professionals to enhance human health [5]

4月8日，亚太地区医疗器械行业的顶级展会——第91届中国国际医疗器械博览会（CMEF）在上海国家会展中心开幕。展会以"创新科技 智领未来"为主题，汇聚近5000家品牌企业，集中展示了医 在本次展会上，国内医疗器械龙头企业迈瑞医疗带来了40多款创新产品和解决方案。其中，最引人注目的是迈瑞启元重症大模型，作为全球首个投入临床应用的重症大模型，其助力临床全面提升 此外，依托在医疗器械行业多年的深耕，迈瑞医疗还展示了正在逐步落地的全场景AI解决方案——"数智实验室"及"瑞影生态"，这两大解决方案以"设备+IT+AI"为核心，通过AI技术赋能医疗均 从"概念"到"临床"，重构医疗AI价值 当AI成为"风口"，如何从前沿创新到临床落地，如何使用AI为核心诊疗服务，垂域与通用大模型如何协同赋能，数智创新又能否撬动"医疗不可能三角"等命题，仍是亟待全行业持续探索的重要 迈瑞医疗在CMEF展会上带来的启元重症大模型，是全球首个临床落地的重症医疗大模型。据了解，迈瑞启元重症大模型能够通过数据还原患者的数字画像，并运用重症医疗思维进行深度分析， 此次CMEF上，迈瑞医疗也带来了更多临床场景的AI解决方案——"数智实验室"和"瑞影生 ...