Study: Standardizing Service Pricing for CN Surgical Robots Enhances MEDBOT-B Commercialization Opportunities
New Guidelines Released: China's National Healthcare Security Administration announced new guidelines for pricing pathological medical services, aiming to create a consistent pricing structure and promote a value-oriented reimbursement model.
Positive Market Impact: JPMorgan predicts these guidelines will positively affect the Chinese surgical robot market, enhancing visibility and commercialization for companies like MEDBOT-B.
MEDBOT-B Performance: Following the announcement, MEDBOT-B saw a 15% increase in stock price, reflecting investor confidence in the improved reimbursement mechanisms.
Analyst Rating: JPMorgan has assigned an Overweight rating to MEDBOT-B with a target price set at HKD42, indicating strong growth potential in the market.
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JPMorgan's Forecast: JPMorgan's preliminary FY25 results for MEDBOT-B (02252.HK) exceeded market expectations but did not meet the broker's estimates.
Target Price Adjustment: The target price for MEDBOT-B has been reduced from HKD42 to HKD41, while maintaining an Overweight rating.
Market Position: MEDBOT-B is still considered JPMorgan's top pick in China's medical technology sector.
Short Selling Data: As of January 27, 2026, MEDBOT-B has a short selling amount of $12.08M and a ratio of 8.355%.

New Guidelines Released: China's National Healthcare Security Administration announced new guidelines for pricing pathological medical services, aiming to create a consistent pricing structure and promote a value-oriented reimbursement model.
Positive Market Impact: JPMorgan predicts these guidelines will positively affect the Chinese surgical robot market, enhancing visibility and commercialization for companies like MEDBOT-B.
MEDBOT-B Performance: Following the announcement, MEDBOT-B saw a 15% increase in stock price, reflecting investor confidence in the improved reimbursement mechanisms.
Analyst Rating: JPMorgan has assigned an Overweight rating to MEDBOT-B with a target price set at HKD42, indicating strong growth potential in the market.

Stock Performance: MEDBOT-B (02252.HK) opened up 5.3% and peaked at HKD32.56, last trading at HKD31.5 with a volume of 21.9397 million shares.
Financial Projections: The company anticipates a full-year revenue increase of approximately 1.1-1.2 times year-over-year, with an adjusted net loss expected to narrow by over 50% to no more than RMB240 million.

Market Performance: The HSI fell by 39 points (0.1%) to 26,447, while the HSTI rose by 8 points (0.1%) to 5,691, and the HSCEI decreased by 24 points (0.3%) to 9,070.
Active Heavyweights: Notable movements included XIAOMI down 2.3%, BABA up 1.1%, and TENCENT down 0.2%, with significant short selling activity across these stocks.
HSI & HSCEI Constituents: ANTA SPORTS and LI NING saw significant declines of 5.8% and 4%, respectively, while BIDU-SW increased by 3.3%, reaching a new high.
HSMI & HSSI Constituents: SKYWORTH surged by 37.6% to a new high, with TCL ELECTRONICS and SF INTRA-CITY also showing strong gains of 17.1% and 15.5%, respectively.

MEDBOT-B Stock Performance: MEDBOT-B (02252.HK) saw a significant increase of 30.377%, closing at $27.6 after peaking at $27.8, with trading volume reaching 17.6027 million shares.
Approval of UniPath: On December 24, MEDBOT-B announced that its UniPathTM Electronic Bronchoscopic Surgical Robotic System received official approval from China's National Medical Products Administration (NMPA).
A-Share Market Trends: Brain-computer interface stocks in the A-share market experienced notable gains, with XYME (688626.SH) rising 8.012% and other companies like MEHOW and INNOVATIVE MEDICAL also seeing increases.
Short Selling Activity: MEDBOT-B had a short selling volume of $47.45 million, with a short selling ratio of 10.439%, indicating significant market interest and activity.

Market Overview: JPMorgan's report indicates that the Chinese healthcare sector has seen a retreat due to price negotiations and profit-taking, but the fundamentals remain strong, presenting a buying opportunity for 2026.
Stock Recommendations: The broker favors biotechnology and CXO sectors, highlighting top picks such as INNOVENT BIO, SKB BIO-B, WUXI APPTEC, and WUXI XDC, along with a positive outlook for MEDBOT-B in medical technology.
Target Price Adjustments: JPMorgan has adjusted target prices for several stocks, lowering AKESO's target from HKD166 to HKD149 while maintaining an Overweight rating, and slightly increasing INNOVENT BIO's target from HKD110 to HKD111.
Performance Metrics: The report includes short selling data for the highlighted stocks, indicating varying levels of short interest, with WUXI APPTEC and WUXI XDC showing significant short selling ratios.





