CITIC Securities: Short-term pressure on medical device under policy disturbance, long-term optimistic about innovation + overseas opportunities.

Zhongtai Securities released a research report stating that the domestic medical device industry is still in a rapid development stage. In the short term, cost control in medical insurance may have a negative impact on the medical device industry, but they are still optimistic about import substitution and globalization driven by innovation. They expect that multiple negative factors are being fully released, and future trends are expected to improve marginally. The firm continues to be optimistic about the competitiveness of domestic enterprises, which are continuously improving under policy support and technological drive, accelerating import substitution. On the other hand, they recommend actively investing in high-quality stocks with marginal positive trends, long-term growth certainty, and considering internationalization, industry competition, company operating pace, thematic investment, and other factors.