AK Medical (01789) has seen its shares rise over 6%, currently increasing by 4.34% to HKD 6.25, with a trading volume of HKD 32.2594 million. CITIC Securities has released a research report forecasting that in the second half of 2025, the nationwide full implementation of the artificial joint procurement renewal policy will stabilize the industry's pricing system. The company has achieved higher bid prices for hip and knee joints in this renewal cycle, indicating that the volume-price increase logic is expected to materialize. Meanwhile, the volume of orthopedic surgeries is also projected to recover. Given that the company’s revenue base from the second half of last year was modest, it is expected that this year’s performance will exhibit a trend of lower performance initially, followed by significant growth in the latter half of the year. The report emphasizes that in the medium to long term, the company's forward-looking layout in innovative products such as 3D printing and surgical robots, as well as its digital orthopedic ecosystem, will establish a solid technological barrier and open up new avenues for growth. Additionally, in the overseas market, the deepening dual-brand strategy of "JRI + AK Medical" and ongoing progress in product registrations are expected to turn the international business into a robust growth engine for the company.