GF Securities: EDGE MEDICAL-B(02675) rated as "buy", with a target price of HKD 73.85 per share.

GF SEC released a research report stating that it is expected that Edge Medical-B (02675) will have total operating income of 848 million yuan, 1.247 billion yuan, and 1.798 billion yuan in the years 2026, 2027, and 2028 respectively. Taking into consideration the company's market position, overseas business, industry policies, and comparable company valuation, the company is given a PS30X valuation for the year 2026, corresponding to a fair value of 73.85 Hong Kong dollars per share, with a "buy" rating. The main points of GF SEC's analysis are as follows: - The company has rapidly expanded domestically and overseas, with a counter-trend improvement in performance in 2025. - Several new products have been launched to rebuild the company's minimally invasive surgery fortress. - The company has made significant adjustments to its overall expense rate in 2025. Risks include the inability to timely promote new technologies and products, lack of experience in overseas market marketing, and risks related to international trade policies.