Mindray Medical impacts 100 billion yuan market value | Domestic medical equipment competitiveness

Medical Network October 19th After the successful return of medical equipment leader Mindray Medical to A shares, domestic medical equipment once again attracted market attention.

On October 18, Mindray Medical closed at 80.97 yuan / share, an increase of 4.75%, with a total market value of 98.435 billion yuan.

In an interview with the "Securities Daily" reporter, Shi Xiaoping, managing director of Tongjiang Capital, said that at present, domestically produced medical device companies with potential in China will have capital in different stages in the early, middle and late stages. Due to the demand for replacement of medical devices, The domestic market space is extremely sufficient. Investors are more optimistic about the substitution of domestic medical devices for imported medical devices, so the investment enthusiasm for domestic medical devices is very high.

From the current market value, the market value of the top medical equipment companies at home and abroad is not an order of magnitude. Domestic medical equipment companies have a long way to go. It can also be seen that although the gap between the two is not small, the space is also large. 'Shi Xiaoping thinks.

In recent years, the state has introduced a series of industrial policies to support the development of the medical device industry. The data shows that the sales scale of China's market has increased from 43.4 billion yuan in 2006 to 369.6 billion yuan in 2016, with an average annual compound growth rate of approximately 23.89%. China's medical device industry is in a period of rapid development.

The data shows that 40 medical device listed companies released the first three quarters of this year's performance forecast, 31 listed companies expect January-September net profit to increase year-on-year. This means that 70% of medical device listed companies are expected to win. The listed company expects the performance of the first three quarters of this year to increase by more than 40%.

Chenxin Pharmaceutical said that in the first three quarters of this year, the company's operating income is expected to increase to 2.75 billion yuan to 2.95 billion yuan, an increase of 40% to 50%. The net profit attributable to shareholders of listed companies is expected to increase to 346,696,800 to 38,778.75. Ten thousand yuan, an increase of 70% to 90%.

Jianfan Bio's announcement of the pre-increase of the results for the first three quarters of 2018 stated that it is expected that the net profit attributable to shareholders of listed companies will increase by 40% to 60% from January to September.

As a leading company in the medical device sector, Mindray Medical disclosed the first three quarters of this year's results forecast. From January to September 2018, the company's estimated operating income was 10.1 billion yuan to 10.45 billion yuan, an increase of 21.03% from the same period of the previous year to 25.23. %; Net profit attributable to shareholders of the parent company is estimated to be 2.8 billion to 3 billion yuan, up 40.42% to 50.45% over the same period of last year; net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be 2.75 billion yuan To 2.95 billion yuan, an increase of 36.67% over the same period of the previous year to 46.61%.

The listing of Mindray Medical has once again triggered the market's attention to the medical device sector.

Global medical devices medicine More than 40% of the total market size, and China medical instruments The total size of the pharmaceutical market is only 10%. The significant difference of this figure shows that compared with other sub-sectors of the medical industry, the medical device industry has ample room for development and rising in the Chinese market.

Shi Xiaoping said that from the perspective of development level and market size, China's domestic medical equipment enterprise The gap with large multinational medical device companies still exists.

Shi Xiaoping told reporters that in the medical device industry, domestic and foreign companies are still huge in terms of R&D and quality control. They have competitive capabilities in low-end medical devices, but they are rare in high-end medical devices.

According to the data, in terms of total R&D expenses, the research and development expenses of 16 medical device listed companies exceeded 100 million yuan last year. Among them, Mindray Medical's R&D expenses were 1.018 billion yuan, ranking first. From the proportion of R&D expenses to operating income 15 listed companies have over 9% of this index, of which Libang Instruments, Jiu'an Medical, and R&D of medical research account for more than 20% of revenue. In addition, open medical, Qianshan Pharmaceutical, Mingde Bio, and Bohui Innovation R&D expenses account for over 15% of revenue.

Mindray Medical, which successfully landed in A-shares, said that in the future, it will continue to focus on further reducing medical costs and improving R&D innovation capabilities. On the basis of maintaining the cost-effective advantages of the company's products, it will actively face the challenges of foreign competitors and strive to become a world-class leader. Medical device business.

It is worth mentioning that in recent years, the state's support for medical devices has been improving. 'The country has been encouraging domestic implementation to purchase At the implementation level, some provinces and municipalities have begun provincial-level centralized procurement of medical devices. Future opportunities in the field of domestic medical devices are worthy of attention. 'An industry observer told reporters.