医疗器械行业：关注25Q4消费及下游端需求回暖

广发证券股份有...11-29

核心观点：25Q1-3 整体行业业绩同比下滑；25Q3 环比改善，海外&创新类资产韧性十足。根据wind，25Q1-3，A 股医疗器械板块（剔除受新冠影响企业）整体收入同比下滑1.1%；整体归母净利润同比下滑15%；整体归母净利润率为15.70%，较24Q1-3 同比下降2.50pct。根据wind，25Q3，A 股医疗器械板块（剔除受新冠影响企业）整体收入同比提升4.4%，环比25Q2 下滑...

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