Mindray(300760)2024-07-29 13:24Investor Relations Activities - Over 300 institutions and 800 participants attended the investor relations activities [2] - Activities included on-site visits, roadshows, and conference calls [2] - Key topics discussed: medical equipment updates, chemical发光业务, and microsurgery business [2][3][4] Medical Equipment Updates - The State Council issued a notice in March 2024 to promote large-scale equipment updates, including medical equipment [2] - The National Development and Reform Commission and Ministry of Finance allocated approximately 300 billion yuan in special long-term treasury bonds to support equipment updates [3] - Domestic medical equipment procurement is expected to improve in the second half of 2024 compared to the first half [3] Chemical发光业务 - Chemical发光业务 is a key growth driver for the company, with significant investments in R&D, marketing, and supply chain [3] - The company's high-sensitivity肌钙蛋白试剂 ranked first globally in the IFCC performance reference table [3] - The domestic market share of chemical发光业务 is expected to surpass another imported brand in 2024 [3] - The domestic accessible market for chemical发光业务 is estimated at 40 billion yuan, with the company's current market share in the single digits [4] Microsurgery Business - The company has completed the product layout for胸腹腔微创外科手术, including 4K+ fluorescence and 4K+3D systems [4] - The智能腔镜吻合器 has a成钉良率 of over 98%, matching the performance of imported brands [4] - The company plans to participate in domestic集中采购 for超声刀 and腔镜吻合器 to accelerate product adoption [4] International Business and Tariff Risks - Overseas revenue accounted for 38.79% of total revenue in 2023, with North America contributing 7.45% [4] - The company has covered over 80% of IDN医联体 in the US [4] - To mitigate tariff risks, the company is accelerating the establishment of overseas production bases, with over 10 bases expected to be operational by the end of 2024 [5]