Rating: maintain the “overweight” rating of the medical service industry
Trend: “innovation” remains unchanged, “strategic layout” to “beach landing”
Investment main line: “innovation” and policy immunization “consumer medical” industrial chain
(1) “CXO” industrial chain: Overseas capacity transfer, China Meheco Group Co.Ltd(600056) R & D is in full swing, focusing on clinical cro leading companies and back-end cro / cdmo companies.
(2) specialized medical services: consumer medical services are growing rapidly, and policies encourage social doctors to pay attention to leading companies of specialized medical services such as stomatology and ophthalmology
(3) third party medical laboratory: the demand for medical testing has increased, ICL penetration has increased, and attention has been paid to ICL leading companies
Risk tips
The implementation of medical insurance cost control exceeded expectations;
The R & D investment of pharmaceutical enterprises decreased;
Medical malpractice risk in private hospitals.
