In 10 years, self -developed has created a market value of 100 billion.

On August 22, 2022, the maximum IPO IPO hit the bell in the year of the year.

Lianying Medical, a leader in domestic high -end medical equipment, was released at a price of 109.88 yuan per share, and opened at 170.11 yuan. As of press time, Lianying Medical has risen to 190.00 yuan, a 72.92%increase, and the real -time market value of 156.6 billion yuan.

Since the completion of the A round of 3.333 billion yuan in 2017, the medical circle has high hopes for couplet medical care. Some people regard it as the most powerful challenger behind Mai Rui Medical, and some people expect it to break the monopoly of multinational companies and build a new era pattern.

What is the confidence of Lianying Medical? Where will its future go after listing?

The only challenger in the market structure of high -end medical device

The competition between contemporary powers often focuses on high -end technology.

The large medical equipment industry is such a "high -precision" industry. Knowledge, dense talents, dense capital, high industry barriers, huge investment and very long research and development cycle. Knowledge is dense -the parts contained in a single device are often as high as tens of thousands, involving more than a dozen interdisciplinary disciplines such as magnetic, sound, light, electricity, and medicine; talent -dense -the requirements for talent quality and experience are extremely high. This also determines that the large medical equipment industry is a "top" track, "high technology content, high added value, and high application value."

Looking at the global high -end medical equipment industry, the market pattern can be described as "solid -gold soup, strong and strong", and only a few foreign -funded companies have monopolized the global medical imaging equipment market, including China, based on a century of accumulation. The emergence of Lianying Medical has stirred up its domestic market structure for many years, becoming the only Chinese enterprise that has the ability to compete with several foreign giants.

The scarcity of the market hides the true value of Lianying Medical.

Xue Min, the chairman of Lianying Group, said, "In the high -end medical equipment market that unifies the world in foreign -funded brands, our goal is not to survive, but to win -not satisfied with low -quality and low -cost products in the middle and low -end markets. The beliefs and courage to compare with international first -class tests. "

Not only that, in the background of the complex international situation in the epidemic era, the competition between the great powers focuses on the high -end technology field. Looking at a series of policies introduced in my country, it is not difficult to find the determination of the national level of "science and technology power".

The State Council's "Healthy China 2030 Planning Outline" clearly states that it is necessary to strengthen the construction of innovative capabilities such as high -end medical devices and improve the international competitiveness of medical diagnosis and treatment equipment with independent intellectual property rights. The national "Fourteenth Five -Year Plan" plan proposes key core technologies such as centralized advantageous resource related medical equipment, key component components and components; high -end medical equipment and pre -clinical scientific instruments are listed as national scientific research facilities.

At the same time, the state further strengthened the "innovation -driven development strategy", and established a technological innovation system that focuses on enterprises, market -oriented, and deep integration of industry -university -research. 10 departments such as the Ministry of Industry and Information Technology, Health and Health Commission, and Development and Reform Commission jointly released the "Fourteenth Five-Year Plan" Medical Equipment Industry Development Plan "proposed that by 2025, 6-8 companies have ranked among the top 50 global medical device industries.

In the time of time, the high -end medical equipment industry has become a national emerging strategic industry related to the country and the people's livelihood, and assumes the historical mission of the wrestling of the country. As a leading company in the industry, Lianying Medical will undoubtedly play a key role.

The most cutting -edge technology is independently developed by the entire line

The technology in the field of high -end medical equipment is king. Even though many people get wealth in the tide of the market economy with the advantages of price and channels, it is extremely difficult to take a step forward. Lianying doctor obviously understands this truth. It is not difficult to find its strategic path from its business layout: full product line coverage, core technology independent research and development, and the highest level of international standards.

The product line coverage of Lianying Medical includes high-performance medical imaging products including CT, magnetic resonance, PET-CT, PET/MR, and X-rays, radiotherapy products such as CT-guided straight accelerators, and medical digital solutions. Not only that, the production line extends further from clinical to clinical clinical, covering the field of life science instruments.

In response to various product lines, Lianying Medical proposed the "Lianying Standard" they pursued: the whole product must achieve the world's first -class software and hardware technology level through independent innovation, and the entire line of products must have unique innovation highlights, even if it belongs to the universal product products It must also be innovated.

It is based on this concept that so far, Lianying Medical has launched a number of products that fill the industry's highest level to fill the industry's blank products, including the world's first Total-Body Pet-CT, the world's first 75cm large-pore diameter 3.0T magnetic resonance, the world in the world The first integrated CT-LINAC, as well as China's first ultra-high-field animal magnetic resonance UMR9.4T, and the domestic first ultra-high-performance large animal whole body research PET/CT.

It is particularly worth mentioning that the molecular imaging business field, Total-Body Pet-CT occupies the commanding heights in the global molecular imaging field. It has been rated as "one of the top ten scientific breakthroughs in 2018" by the British Institute of Physics.

This world's first 2-meter PET-CT, allowing humans to observe the whole body of the whole body with the whole body, spread and metabolic in history. Infinite possibility of brain science research and new drug development.

The independent research and development of core technologies and core components has provided the foundation for the continuous improvement of product performance and the continuous decline in cost, and provides the foundation for mastering innovation initiative and freedom. Zhang Qiang, chairman of Lianying Medical, emphasized at the industry forum several times: "Only by mastering core technology can we truly get rid of cottage, get rid of the low -end follow, and no longer be subject to others." Lianying Medical has now realized PET digital light guide detectors, MR superconducting magnets, MR gradient power amplifiers, MR radio frequency power amplifiers, CT space -time detectors, RT multi -leaf light grids and other high -end medical imaging and radiotherapy products are independent. In addition, Lianying Medical said that the core components including high -power CT ball pipes, high -reliability high -pressure generators, and large -capacity X -ray tubes have been under research, and it is expected that mass production will be realized soon.

According to the prospectus, the company is also accelerating the development of new materials and new technologies to the development of the next generation of core components, including CT photon count detectors, MI new -generation TOF detectors, RT next -generation power source system, and other high -end medical imaging and radiotherapy products core part.

"All product line coverage, independent research and development of core technology, and the highest level of benchmarking internationally." This road has a long track for Lianying Medical, which is reflected in the prospectus. Copy engineer R & D teams and strong business performance.

Lianying Medical has never been hesitation in R & D investment. Data disclosed by the prospectus show that the data during the reporting period was 690 million yuan, 850 million yuan, and 1.048 billion yuan, respectively, with an annual increase of more than 20%. From 2019 to 2021, Lianying Medical achieved revenue of 2.979 billion yuan, 5.761 billion yuan, and 7.254 billion yuan, respectively, with a compound growth rate of 56.03%.

In the first half of 2022, Lianying Medical estimates that the company's operating income was 3.702 billion yuan to 4.165 billion yuan, an increase of 20%to 35%year -on -year; net profit at home was 745 million yuan to 874 million yuan, an increase of 15%to 35%year -on -year. The entire line of products has been settled in nearly 900 three hospitals across the country. Among them, the top 10 top hospitals in the country are Lianying Medical users. PET-CT's domestic market share has been maintained for six consecutive years. In 2020, MR, CT, and CT, PET-CT and mobile DR products ranked first in new market share in China.

Integration of industry, university, research and medicine to improve the speed of innovation

Multi -disciplinary cross -characteristics determine that the development of the high -end medical equipment industry is inseparable from the in -depth integration of production, academic and research medicine. Cooperate with the top international hospitals, universities, and scientific research institutes, starting from the actual needs of clinical research, multi -party co -intensive integration, agile and innovative from the source, thereby promoting the construction of upstream and downstream innovation ecology throughout the industry. Innovation path.

Based on the layout of many fields spanning "clinical-diagnosis-treatment", as well as the engineer and scientists and talent teams built behind them. On the one hand, Lianying Medical cooperated with top hospitals such as China Concorde, West China, Zhongshan, and Ruijin to build a medical peak highland. , Extracting major illnesses and penetrating into the national scientific research plan, leading a number of major national projects. On the other hand, join hands with well -known universities and scientific research institutions at the University of Yale, the University of California, the University of California, the University of Washington Medical College, Japan's Fujitian Health University Hospital, and Japan's Northeast Hospital and other world -renowned universities and scientific research institutions to build a global innovation community.

In November 2021, led by Lianying Medical, Zheng Hairong, the chief scientist of the project, the researcher of the Shenzhen Academy of Advanced Technology of the Chinese Academy of Sciences, led the team, the General Hospital of the People's Liberation Army (301 Hospital), and Zhongshan Hospital affiliated to Fudan University. "Independent development and industrialization of medical imaging equipment" project won the "First Prize of National Science and Technology Progress in 2020". This is the first time that the high -end medical equipment industry has won the highest honor in this science and technology field, and it is also a model for the deep integration of industry, university, and medical and research.

Marin, director of the radiological diagnosis department of the General Hospital of the PLA: "Lianying Medical's magnetic resonance equipment entered the 301 hospital at the end of 2014. At that time, the equipment was not mature. Together and polishing the equipment together, optimize the sequence, parameters and the overall performance of the system, and make the equipment more fit the hospital's clinical needs. "

Malin also pointed out that in the past, the most advanced equipment was often polished overseas and entered China until maturity. Chinese doctors rarely participated in original high -quality scientific research. Today, based on Lianying Medical's latest technology, and the local strong engineers and scientists team, through the in -depth and open cooperation of industry -university -research, enterprises and hospitals can jointly innovate, participate in the hatching of forward -looking scientific research results, effectively promote effectively Medical transformation.

Not long ago, the scientific research team of the University of California, the University of California in the world in the world in the world's largest and most influential academic conference 2022 SNMMI (Nuclear Medicine and Molecular Image Association) Annual Conference announced an annual meeting. Achievement: Based on Lianying Medical Total-Body Pet-CT-CT UEXPlorer, human beings first observed the distribution of T cells in patients with T cells in the rehabilitation of new crown pneumonia through the naked eye and non-invasive way. It is reported that T cells play a key role in fighting new coronal viruses, evaluating related immune responses, and vaccine responses. In addition, the University of California, the University of California, San Francisco and Davis, jointly developed a new monoclonal antibody tracer targeting AIDS virus. It also uses Lianying Medical TOTAL-Body Pet-CT UEXPORERER exploor to allow humans to rely on the naked eye for the first time with the naked eye for the first time The distribution of AIDS virus in all parts of the human body was seen intuitive and clearly, and it also greatly promoted the precise efficacy assessment and treatment of AIDS.

Excessive advantage after relying, expand the industrial boundary

In the eleven years of accumulation and layout, Lianying Medical has become a pioneer with underlying technology, application scenarios, expert resources, and ecological resources. Not only that, as the start of the industry after the industry, the advantage of the later also developed a solid foundation for its new scenarios, expanding the boundaries of the industry, enhancing the added value of the industry, and seeking the added value of the industry.

"The post -development advantage comes from the underlying technology of large -scale medical equipment. Once the underlying technical architecture and platform are built, it will continue to empower the company's product line and promote it for ten years or even longer." Lianying Medical said, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution, post -distribution. The advantage is to have the opportunity to use more updated technologies to continuously consolidate the underlying technology platform, enhance the company's entire machine technology, and make technical performance and special applications exert greater potential and characteristics.

In 2021, the magnetic resonance product line of Lianying Medical Magnetic Resonance Product Line took the lead in released the latest artificial intelligence UAIFI brain platform to promote the intelligence of magnetic resonance to achieve intelligence; during the epidemic period, Lianying Medical emergency research and development and centralized correlation were provided for the prevention and control of the epidemic. A series of innovative products and solutions including Tianyan Intelligent CT, square cabin CT, and vehicle CT; for the clinical needs of the hospital, the custom of the ankle coil for the Third Hospital of Peking University, etc. These are all the rapid response of Lianying Medical, agile innovation The best example.

Recent Subtitious topics, based on Lianying Medical's latest scientific research type 3.0T magnetic resonance system, will conduct research on the two important age development of infants and children and adolescents. In China, large scientific research facilities are also an emerging market. It is a high -end and high -end science and technology field that more than 90%of equipment has rely on imported equipment. There was no domestic medical equipment manufacturer who had the ability to participate in it.

Today, the new generation of information technology represented by artificial intelligence, 5G, and Yuan Universe has flourished, and medical digital has accelerated and upgraded, and industrial boundaries have continued to expand. McKinsey predicts that by 2024, the global digital medical market will reach $ 600 billion. With the favorable policies, technological progress, and the improvement of residents' health awareness, my country's digital medical industry is expected to maintain compound growth rate of more than 30%. The maturity of new technologies is that domestic medical equipment enterprises to achieve historic opportunities in the same starting line.

The Lianying Group relying on Lianying Medical has launched the layout of cutting -edge technologies such as advanced imaging diagnosis and treatment equipment, surgical robots, medical wearable equipment, and frontier technologies such as artificial intelligence, chips, and imaging diagnosis centers. It is foreseeable that the future of Lianying Medical has more far -reaching development potential.

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