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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Authors
Tianyi YanZiyi ChenMichael Zheng
Securities
300760.SZ688271
Themes
Medical equipment bidding recoveryDomestic substitution in China healthcare
Regions
Asia PacificChina
