医疗服务行业周报：AI+医疗持续受关注，关注创新趋势下CXO机会

Investment Rating - The industry rating is maintained at "Overweight" [6][60] Core Views - The medical service sector has shown strong performance recently, particularly benefiting from AI applications in diagnostics and drug development [4][60] - The current valuation of the medical service sector is attractive, with PE at 40.18X and PB at 3.24X, indicating a recovery potential [3][29] - The report highlights opportunities in the CXO industry, driven by demand recovery and easing of previous pressures [8][60] Summary by Sections Industry Performance - The pharmaceutical and biological sector rose by 1.88%, ranking 9th among 31 primary industries [1][11] - The medical service sub-sector reported a significant increase of 9.28%, outperforming other segments [22][23] Company Performance - Top-performing companies in the medical service sector include International Medical (+20.1%), NuoSiGe (+16.5%), and BiDe Pharmaceutical (+16.0%) [2][27] - Companies applying AI in new drug development and private hospitals focusing on AI+ diagnostics have shown notable gains [2][27] Valuation Metrics - The medical service sector's PE (ttm) is currently at 40.18X, with a historical range between 20.88X and 40.18X over the past year [3][29] - The PB (lf) stands at 3.24X, with historical values ranging from 2.06X to 3.37X [3][29] Industry Dynamics and Announcements - The Chinese government is advancing reforms for immediate settlement of medical insurance funds to healthcare institutions, enhancing cash flow [4][57] - Tianjin has introduced measures to support the innovation and development of the biopharmaceutical industry, leveraging local resources [4][58] Future Outlook - The report anticipates a recovery in the CXO industry, driven by improved demand and easing of previous constraints [8][60] - AI's integration into drug design is expected to accelerate the drug development process, creating new business opportunities for CRO companies [8][60]