CITIC Securities: Clear policy signals, focus on turning point opportunities in medical devices industry.

CITIC Securities research report indicates that recently, high-level officials have repeatedly emphasized principles such as "anti-inner loop" and "collective procurement optimization no longer based solely on low prices," supporting the development of the innovative pharmaceutical and medical device industry. The inflection point of industrial policy is clear, and the valuation and performance of the medical device sector are expected to see a recovery. It is suggested to focus on investment opportunities in the inflection point of the medical device sector. It is recommended to layout based on the benefits of domestic collective procurement optimization and continuous breakthroughs in exports.