Guotai Haitong: The expected decrease in the sixth batch of consumables for national procurement is mild, and it is expected to accelerate the production volume of domestic manufacturers.

Guotai Haitong released a research report stating that the sixth batch of consumables national procurement documents have been issued. This round of centralized procurement will be conducted in AB units with multiple rounds of quotations. The expected price reduction is mild, and the supply volume meets expectations. The market share of domestic manufacturers is expected to increase. The "overweight" rating for the pharmaceutical industry is maintained. It is recommended that consumable companies that are expected to benefit from the implementation of centralized procurement to drive sales volume. Guotai Haitong's main points are as follows: Event: On December 22nd, the National Organizing Office for the Joint Procurement of High-Value Medical Consumables issued a public notice on the release of the "National Organizing Medicine-coated Balloon, Urology Intervention Medical Consumables Centralized Volume-based Procurement Documents (GH-HD2025-1)". The sixth batch of consumables national procurement will be open for application information on January 13, 2026, at 9:30 am. The centralized volume-based procurement period will be from the date of actual implementation of the selection results in various regions of the alliance until December 31, 2028. In principle, the total annual agreement procurement quantity for each year is not less than 90% of the total actual usage quantity of the previous year, and the annual agreement procurement quantity for each selected enterprise is not less than the agreement procurement quantity of the same selected enterprise in the previous year. Multiple rounds of quotations will be conducted in AB units, with a mild expected price reduction. This round of centralized volume-based procurement will conduct bidding for each variety. Within the same bidding unit of A and B, the bidding comparison prices will be calculated based on the declared prices of enterprises and conversion rules. The bidding comparison prices will be ranked from low to high, and the qualifying enterprises will be determined. The bidding comparison price of the qualifying enterprises is not higher than the highest effective declared price. Effective declared enterprises that have been qualified but not selected, if the bidding comparison price of the re-quotation is 70% of the highest effective declared price for the same variety, may be selected through rules two and three. The supply volume meets expectations, and the market share of domestic manufacturers is expected to increase. Risks: Surgical volume lower than expected, centralized procurement execution time slower than expected, product price fluctuation risks, etc.