Mindray Q3 Revenues Up 21.4%

On October 27, Mindray (300760) released its third quarterly report. The report showed that in the first three quarters of 2022, Mindray achieved revenue of CNY 23.3 billion, an increase of 20.1% year-on-year, and recorded net profit of CNY 8.1 billion, an increase of 21.6% year-on-year. Among them, in the third quarter of 2022, Mindray achieved revenue of 7.94 billion yuan, up 20.1% year-on-year, and net profit of CNY 2.81 billion, up 21.4% year-on-year.

Overall, Mindary's revenue and net profit in the first three quarters of 2022 maintained steady growth despite the global epidemic and overseas economic situation, and the company's net profit attributable to the mother company in the first three quarters of 2022 even exceeded the sum of the whole year of 2021, setting another record profit level for the same period in history.

In addition to steady growth in performance, the company's "three Rui" ecosystem performance is excellent. According to the research report, the "Rui Zhi Lian" accumulated to achieve the number of hospitals signed 320, "Rui Ying Yun ++" accumulated to achieve nearly 2500 sets of installed machines, "Mindray Smart Inspection The "laboratory" accumulated to achieve the installation of 110, driving regional sales to play a greater value.

Analysts said that in the context of the rapid development of intelligent medicine, the new crown epidemic exposed China's current shortcomings in the total amount of medical resources, uneven distribution of disease prevention and treatment, in order to meet demand, the epidemic after the hospital construction accelerated, the medical industry ushered in a new infrastructure era. Mindray's "Three Rui" ecosystem is highly suited to the needs of the new medical infrastructure and can better support the construction of smart hospitals. The company is expected to take advantage of the "Three Rui" ecology to ride on the east wind of the policy and obtain an incremental share of the new infrastructure.