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Medical Network, April 6th, the domestic figure among the multinational machinery companies
70% of overseas income
Recently, Mindray Medical released the "Investor Relations Activity Record" that its goal is to increase the proportion of overseas business revenue to 70%.
According to reports, in 2020, Mindray will achieve a breakthrough in more than 700 high-end blank hospitals in the global market , but the market share of more than 20 products that it has deployed in the overall global accessible market is still only low single digits.
Business income accounts for less than half of the group as a whole, which is far from enough.
Business income accounts for less than half of the group as a whole, which is far from enough.
In the wave of new global medical infrastructure following the new crown epidemic, Mindray will continue to seize the rapidly growing market demand in developing countries, strengthen product recognition and brand influence in developed countries, and accelerate global penetration.
According to the above record, Mindray's development can be divided into four stages.
2000-2005: At the initial stage of the development of Mindray's internationalization, European and American multinational companies generally did not pay much attention to the low-end product market and developing country markets, and local companies have not yet risen.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
2006-2012: Mindray already has the prerequisites for setting up subsidiaries or offices in various places, through mergers and acquisitions to build an overseas direct sales operation platform, and further open the market in developed countries.
2013-2016: Started foreign localization layout and fully used local employees.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Since 2017: A mature and sophisticated market and channel management system has been established in China, and the international market is gradually entering a new stage of breakthroughs in high-end customer groups and product penetration.
Internal reforms, major changes at the top
It is worth noting that while Mindray Medical is making breakthroughs in the international market, major changes have taken place in its top management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
The board of directors elected Cheng Minghe as the company's vice chairman, and still served as a member of the company's board of directors strategy committee, audit committee, and compensation and appraisal committee, and no longer served as the company's general manager.
At the same time, the company's board of directors appointed Wu Hao as the company's general manager.
At the same time, the company's board of directors appointed Wu Hao as the company's general manager.
Mindray Medical also explained and explained the reasons for the changes.
Mindray pointed out that under the influence of the global epidemic, Mindray started to reform from within the company to deal with the environment.
When any company develops to a certain level, the key to becoming bigger and stronger lies in system construction and management echelon construction.
Mindray pointed out that under the influence of the global epidemic, Mindray started to reform from within the company to deal with the environment.
When any company develops to a certain level, the key to becoming bigger and stronger lies in system construction and management echelon construction.
It is understood that the outbreak of the global epidemic has had a significant impact on Mindray's overall business.
Mindray Medical stated in the performance forecast that the company's expected operating income for 2020 is 19.
87 billion yuan to 21.
52 billion yuan, an increase of 20%-30% over the same period of the previous year; the net profit attributable to shareholders of the parent company is expected to be 6.
08 billion yuan- 6.
55 billion yuan, an increase of 30%-40% over the same period last year.
87 billion yuan to 21.
52 billion yuan, an increase of 20%-30% over the same period of the previous year; the net profit attributable to shareholders of the parent company is expected to be 6.
08 billion yuan- 6.
55 billion yuan, an increase of 30%-40% over the same period last year.
The performance forecast shows that entering the third quarter of 2020, affected by the continuous global spread of the new crown epidemic, the international market has demand for related anti-epidemic products such as monitors, ventilators, infusion pumps, new crown antibody reagents, portable color Doppler ultrasound, and mobile DR The volume remains at a relatively high level; at the same time, conventional businesses such as in vitro diagnostic reagents have gradually returned to normal growth in the domestic market.
Mindray further pointed out that the international epidemic situation is still unclear, the demand for anti-epidemic products in the international market is still maintained, and in order to cope with the second wave of epidemics, some European countries have begun to prepare to increase the deployment of national medical systems.
In addition to the gradual recovery of regular business, in order to prevent secondary outbreaks of the epidemic and strengthen the construction of major epidemic treatment capabilities in China, various regions have also successively launched medical plans to make up for shortcomings.
Reasons for Mindray's growth
Johns Hopkins University professor Penrose once analyzed in the book "The Theory of Enterprise Growth" that the growth of a company is mainly limited by productive opportunities.
Production opportunities are mainly divided into subjective and objective.
Subjective production opportunities are what companies want to do.
What can an objective production opportunity company do?
Production opportunities are mainly divided into subjective and objective.
Subjective production opportunities are what companies want to do.
What can an objective production opportunity company do?
Penrose believes that the growth and development of an enterprise is essentially the discovery, application and implementation of production opportunities.
On this basis, "Times Finance" magazine once published an article analyzing that the two major factors for Mindray Medical's success are the discovery of entrepreneurs and overseas strategic mergers and acquisitions.
For the discovery of entrepreneurs, Mindray's success is closely related to Xu Hang, one of its founders.
Initially, Mindray pharmnet.
com.
cn/agent_product/" target="_blank">agents of foreign medical equipment sales, to achieve one million sales a year, at the same time, Xu Hang noted that foreign companies in three areas are likely to bring opportunities for Mindray.
Initially, Mindray pharmnet.
com.
cn/agent_product/" target="_blank">agents of foreign medical equipment sales, to achieve one million sales a year, at the same time, Xu Hang noted that foreign companies in three areas are likely to bring opportunities for Mindray.
First, foreign companies have failed to meet the needs of Chinese customers; second, the price of medical equipment is ridiculously high; third, foreign companies have failed to provide equipment maintenance services in a timely manner.
Based on this, Xu Hang decided to use all the income from Mindray's agency sales to develop products.
Based on this, Xu Hang decided to use all the income from Mindray's agency sales to develop products.
According to the analysis of the above article, the Xu Hang team is very talented when Mindray explores unnoticed opportunities, which in turn reflects that the discoveries of entrepreneurs have contributed to Mindray's success.
For strategic mergers and acquisitions, it may be one of the increasingly important factors that promote the growth of Mindray.
Weston’s synergy theory believes that acquisitions can enable companies to reduce production costs through scale adjustments, achieve optimal asset allocation, and obtain a favorable market position.
Otherwise, it will take several years to accumulate to obtain this market.
Otherwise, it will take several years to accumulate to obtain this market.
According to the above articles, Mindray began to actively M&A since 2008.
From 2008 to 2014, Mindray Medical held 13 companies through mergers and acquisitions at home and abroad, and its products were marching from low-end to high-end, making technology research and development more difficult.
From 2008 to 2014, Mindray Medical held 13 companies through mergers and acquisitions at home and abroad, and its products were marching from low-end to high-end, making technology research and development more difficult.
After mergers and acquisitions, the resources of the original enterprise can be fully utilized.
When the role of talents and technology is fully utilized, the competitiveness of the enterprise will continue to increase, especially for some proprietary technologies, which are difficult for enterprises to obtain through other channels.
When the role of talents and technology is fully utilized, the competitiveness of the enterprise will continue to increase, especially for some proprietary technologies, which are difficult for enterprises to obtain through other channels.
In addition, Mindray’s internationalization process is also worthy of attention and consideration.
Relevant researchers from Shanghai University of International Business and Economics have published articles analyzing Mindray’s internationalization strategy from difficult to easy.
Relevant researchers from Shanghai University of International Business and Economics have published articles analyzing Mindray’s internationalization strategy from difficult to easy.
After obtaining the European Union's CE certification in 2000, Mindray set its first overseas subsidiary in the UK and began to open the Western European market.
During the two years from 2007 to 2008, Mindray established 11 overseas subsidiaries.
In terms of location, 3 are in North America and 4 are in Western Europe.
A total of 7 subsidiaries are located in developed countries, and the remaining 4 are located in India and Brazil.
, Mexico, Russia and other emerging markets.
In terms of location, 3 are in North America and 4 are in Western Europe.
A total of 7 subsidiaries are located in developed countries, and the remaining 4 are located in India and Brazil.
, Mexico, Russia and other emerging markets.
The above-mentioned researchers analyzed that prioritizing access to developed markets can learn advanced experience and improve product quality and brand image.
On the other hand, such developed markets have relatively mature foreign trade systems, huge market scales, and guaranteed profits.
On the other hand, such developed markets have relatively mature foreign trade systems, huge market scales, and guaranteed profits.
Medical Network, April 6th, the domestic figure among the multinational machinery companies
70% of overseas income
Recently, Mindray Medical released the "Investor Relations Activity Record" that its goal is to increase the proportion of overseas business revenue to 70%.
According to reports, in 2020, Mindray will achieve a breakthrough in more than 700 high-end blank hospitals in the global market , but the market share of more than 20 products that it has deployed in the overall global accessible market is still only low single digits.
Business income accounts for less than half of the group as a whole, which is far from enough.
Business income accounts for less than half of the group as a whole, which is far from enough.
In the wave of new global medical infrastructure following the new crown epidemic, Mindray will continue to seize the rapidly growing market demand in developing countries, strengthen product recognition and brand influence in developed countries, and accelerate global penetration.
According to the above record, Mindray's development can be divided into four stages.
2000-2005: At the initial stage of the development of Mindray's internationalization, European and American multinational companies generally did not pay much attention to the low-end product market and developing country markets, and local companies have not yet risen.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
2006-2012: Mindray already has the prerequisites for setting up subsidiaries or offices in various places, through mergers and acquisitions to build an overseas direct sales operation platform, and further open the market in developed countries.
2013-2016: Started foreign localization layout and fully used local employees.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Since 2017: A mature and sophisticated market and channel management system has been established in China, and the international market is gradually entering a new stage of breakthroughs in high-end customer groups and product penetration.
Internal reforms, major changes at the top
It is worth noting that while Mindray Medical is making breakthroughs in the international market, major changes have taken place in its top management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
The board of directors elected Cheng Minghe as the company's vice chairman, and still served as a member of the company's board of directors strategy committee, audit committee, and compensation and appraisal committee, and no longer served as the company's general manager.
At the same time, the company's board of directors appointed Wu Hao as the company's general manager.
At the same time, the company's board of directors appointed Wu Hao as the company's general manager.
Mindray Medical also explained and explained the reasons for the changes.
Mindray pointed out that under the influence of the global epidemic, Mindray started to reform from within the company to deal with the environment.
When any company develops to a certain level, the key to becoming bigger and stronger lies in system construction and management echelon construction.
Mindray pointed out that under the influence of the global epidemic, Mindray started to reform from within the company to deal with the environment.
When any company develops to a certain level, the key to becoming bigger and stronger lies in system construction and management echelon construction.
It is understood that the outbreak of the global epidemic has had a significant impact on Mindray's overall business.
Mindray Medical stated in the performance forecast that the company's expected operating income for 2020 is 19.
87 billion yuan to 21.
52 billion yuan, an increase of 20%-30% over the same period of the previous year; the net profit attributable to shareholders of the parent company is expected to be 6.
08 billion yuan- 6.
55 billion yuan, an increase of 30%-40% over the same period last year.
87 billion yuan to 21.
52 billion yuan, an increase of 20%-30% over the same period of the previous year; the net profit attributable to shareholders of the parent company is expected to be 6.
08 billion yuan- 6.
55 billion yuan, an increase of 30%-40% over the same period last year.
The performance forecast shows that entering the third quarter of 2020, affected by the continuous global spread of the new crown epidemic, the international market has demand for related anti-epidemic products such as monitors, ventilators, infusion pumps, new crown antibody reagents, portable color Doppler ultrasound, and mobile DR The volume remains at a relatively high level; at the same time, conventional businesses such as in vitro diagnostic reagents have gradually returned to normal growth in the domestic market.
Mindray further pointed out that the international epidemic situation is still unclear, the demand for anti-epidemic products in the international market is still maintained, and in order to cope with the second wave of epidemics, some European countries have begun to prepare to increase the deployment of national medical systems.
In addition to the gradual recovery of regular business, in order to prevent secondary outbreaks of the epidemic and strengthen the construction of major epidemic treatment capabilities in China, various regions have also successively launched medical plans to make up for shortcomings.
Reasons for Mindray's growth
Johns Hopkins University professor Penrose once analyzed in the book "The Theory of Enterprise Growth" that the growth of a company is mainly limited by productive opportunities.
Production opportunities are mainly divided into subjective and objective.
Subjective production opportunities are what companies want to do.
What can an objective production opportunity company do?
Production opportunities are mainly divided into subjective and objective.
Subjective production opportunities are what companies want to do.
What can an objective production opportunity company do?
Penrose believes that the growth and development of an enterprise is essentially the discovery, application and implementation of production opportunities.
On this basis, "Times Finance" magazine once published an article analyzing that the two major factors for Mindray Medical's success are the discovery of entrepreneurs and overseas strategic mergers and acquisitions.
For the discovery of entrepreneurs, Mindray's success is closely related to Xu Hang, one of its founders.
Initially, Mindray pharmnet.
com.
cn/agent_product/" target="_blank">agents of foreign medical equipment sales, to achieve one million sales a year, at the same time, Xu Hang noted that foreign companies in three areas are likely to bring opportunities for Mindray.
Initially, Mindray pharmnet.
com.
cn/agent_product/" target="_blank">agents of foreign medical equipment sales, to achieve one million sales a year, at the same time, Xu Hang noted that foreign companies in three areas are likely to bring opportunities for Mindray.
First, foreign companies have failed to meet the needs of Chinese customers; second, the price of medical equipment is ridiculously high; third, foreign companies have failed to provide equipment maintenance services in a timely manner.
Based on this, Xu Hang decided to use all the income from Mindray's agency sales to develop products.
Based on this, Xu Hang decided to use all the income from Mindray's agency sales to develop products.
According to the analysis of the above article, the Xu Hang team is very talented when Mindray explores unnoticed opportunities, which in turn reflects that the discoveries of entrepreneurs have contributed to Mindray's success.
For strategic mergers and acquisitions, it may be one of the increasingly important factors that promote the growth of Mindray.
Weston’s synergy theory believes that acquisitions can enable companies to reduce production costs through scale adjustments, achieve optimal asset allocation, and obtain a favorable market position.
Otherwise, it will take several years to accumulate to obtain this market.
Otherwise, it will take several years to accumulate to obtain this market.
According to the above articles, Mindray began to actively M&A since 2008.
From 2008 to 2014, Mindray Medical held 13 companies through mergers and acquisitions at home and abroad, and its products were marching from low-end to high-end, making technology research and development more difficult.
From 2008 to 2014, Mindray Medical held 13 companies through mergers and acquisitions at home and abroad, and its products were marching from low-end to high-end, making technology research and development more difficult.
After mergers and acquisitions, the resources of the original enterprise can be fully utilized.
When the role of talents and technology is fully utilized, the competitiveness of the enterprise will continue to increase, especially for some proprietary technologies, which are difficult for enterprises to obtain through other channels.
When the role of talents and technology is fully utilized, the competitiveness of the enterprise will continue to increase, especially for some proprietary technologies, which are difficult for enterprises to obtain through other channels.
In addition, Mindray’s internationalization process is also worthy of attention and consideration.
Relevant researchers from Shanghai University of International Business and Economics have published articles analyzing Mindray’s internationalization strategy from difficult to easy.
Relevant researchers from Shanghai University of International Business and Economics have published articles analyzing Mindray’s internationalization strategy from difficult to easy.
After obtaining the European Union's CE certification in 2000, Mindray set its first overseas subsidiary in the UK and began to open the Western European market.
During the two years from 2007 to 2008, Mindray established 11 overseas subsidiaries.
In terms of location, 3 are in North America and 4 are in Western Europe.
A total of 7 subsidiaries are located in developed countries, and the remaining 4 are located in India and Brazil.
, Mexico, Russia and other emerging markets.
In terms of location, 3 are in North America and 4 are in Western Europe.
A total of 7 subsidiaries are located in developed countries, and the remaining 4 are located in India and Brazil.
, Mexico, Russia and other emerging markets.
The above-mentioned researchers analyzed that prioritizing access to developed markets can learn advanced experience and improve product quality and brand image.
On the other hand, such developed markets have relatively mature foreign trade systems, huge market scales, and guaranteed profits.
On the other hand, such developed markets have relatively mature foreign trade systems, huge market scales, and guaranteed profits.
Medical Network, April 6th, the domestic figure among the multinational machinery companies
70% of overseas income
70% of overseas income Recently, Mindray Medical released the "Investor Relations Activity Record" that its goal is to increase the proportion of overseas business revenue to 70%.
According to reports, in 2020, Mindray will achieve a breakthrough in more than 700 high-end blank hospitals in the global market , but the market share of more than 20 products that it has deployed in the overall global accessible market is still only low single digits.
Business income accounts for less than half of the group as a whole, which is far from enough.
Hospital hospital hospitalBusiness income accounts for less than half of the group as a whole, which is far from enough.
In the wave of new global medical infrastructure following the new crown epidemic, Mindray will continue to seize the rapidly growing market demand in developing countries, strengthen product recognition and brand influence in developed countries, and accelerate global penetration.
According to the above record, Mindray's development can be divided into four stages.
2000-2005: At the initial stage of the development of Mindray's internationalization, European and American multinational companies generally did not pay much attention to the low-end product market and developing country markets, and local companies have not yet risen.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
Mindray relies on products with cost-effective competitive advantages and relies on distributor channels to quickly open overseas markets.
2006-2012: Mindray already has the prerequisites for setting up subsidiaries or offices in various places, through mergers and acquisitions to build an overseas direct sales operation platform, and further open the market in developed countries.
2013-2016: Started foreign localization layout and fully used local employees.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Several products were launched to lay the foundation for the next step to fully enter the overseas high-end customer base.
Since 2017: A mature and sophisticated market and channel management system has been established in China, and the international market is gradually entering a new stage of breakthroughs in high-end customer groups and product penetration.
Internal reforms, major changes at the top
Internal reforms, major changes at the top It is worth noting that while Mindray Medical is making breakthroughs in the international market, major changes have taken place in its top management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
In November 2020, Mindray issued several official announcements in succession, announcing the change of vice chairman and senior management.
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