According to the CITIC Construction Investment Research Report, as of 26Q2, medical devices had achieved positive growth for four consecutive quarters, and net profit to mother increased positively in the first quarter in four years, showing a good trend of recovering the industry's performance. The overall profit side of the equipment industry declined sharply in '25, mainly affected by various policies such as IVD industry collection and medical service price adjustments, as well as one-time impairment accruals and exchange gains and losses of some low-value consumables companies. Looking forward to the subsequent development of the industry, the medical device industry is expected to begin a new healthy development cycle as the impact of consumables collection on the industry gradually becomes clear, commercialization of innovative products after implementation, and domestic enterprises accelerate the implementation of overseas business.

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