CITIC Securities: Further optimization of procurement rules, optimistic about long-term investment opportunities in the medical equipment sector.

The Zhongxin Jiandou research report pointed out that under the trends of optimized procurement policies for medical devices, continued improvement in equipment bidding data, and gradual reduction in channel inventory, the medical device sub-sector is gradually experiencing a turning point in performance. In particular, in the background of the continuous optimization of centralized procurement policies, the high-value consumables sector is expected to see a recovery in valuation and performance certainty. At the same time, we are optimistic about domestic medical devices going global, and companies with long-term international business prospects are also expected to see a reshaping of valuation. We are also bullish on investment opportunities in technological innovation in the medical device sector, with AI healthcare, brain-machine interface, surgical robots, exoskeleton robots, etc. expected to become new technological directions of focus for investors.