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Goldman Sachs

June 10, 2026

China Healthcare Hospital Equipment Bidding Update

Monthly UpdateEquitiesHealth Care

May 2026 saw a marginal +0.1% yoy recovery in China hospital equipment bidding value after months of decline. Analysts maintain a constructive outlook for 2H26, particularly for United Imaging.

Key Takeaways

  • 1.Total hospital equipment bidding value in China recorded a slight yoy increase of +0.1% in May 2026, marking the first positive growth after five consecutive months of decline.
  • 2.United Imaging is the only major competitor delivering positive year-to-date growth (+9% yoy) in bidding value, supported by stable CT/MRI share and gains in DSA/LINAC.

Table of Contents

  • Read across to Mindray and United Imaging
  • Detailed bidding data in nine categories
  • Bidding value by brand, domestic vs. MNC
  • Investment Thesis
  • Price Target Risks & Methodology
  • Disclosure Appendix

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