According to reports, AK MEDICAL (01789) saw its shares rise over 9% this morning, currently increasing by 8.73% to HKD 5.98, with a transaction volume of HKD 74.485 million. CITIC Construction Investment released a research report stating that during the national artificial joint centralized procurement, AK MEDICAL has steadily increased its market share thanks to its cost performance and localized service advantages, accelerating import substitution and expanding its coverage of high-end hospitals. Leveraging the iCOS digital orthopedic platform, the company has developed a comprehensive solution covering 「preoperative planning, intraoperative navigation, and postoperative monitoring.」 With the approval of its self-developed K3 smart surgical robot, the collaboration between digital products and implants is expected to expand significantly. The company’s internationalization represents a second growth curve; through the 「AK MEDICAL + JRI」 dual-brand strategy, it effectively covers different overseas markets, with a gradually increasing share of foreign revenue and substantial growth potential. The institution further noted that looking ahead to the second half of 2025, with the nationwide implementation of the renewed centralized procurement policy for artificial joints, the industry price structure is expected to stabilize. The company has seen an increase in its bid prices for hip and knee joints in this round of bidding, indicating a potential fulfillment of the logic of rising volume and prices. Additionally, there is an expectation for a rebound in orthopedic surgery volumes, and given the relatively low revenue base from the second half of last year, the company's performance is anticipated to show an upward trend, with potential for rapid growth in the latter half of this year.