GLONGHUI July 11 | Guolian Securities Research Report pointed out that Xishan Technology (688576.SH) focuses on minimally invasive surgical instruments and has become an overall solution provider for minimally invasive surgical tools in China. According to estimates in the company's prospectus, it is estimated that the main supporting consumables for surgery will reach 5.488 billion yuan in 2025, with a compound growth rate of 7.77% in 2020-2025. The popularity of minimally invasive surgery has led to an increase in the number of day/inpatient surgeries. Since 2015, disposable consumables have been included in each province's medical insurance fee catalogue, jointly driving the use of surgical consumables. Focusing on minimally invasive surgery, the company continues to develop new products such as hard lenses and energy surgery equipment, nurturing the second and third growth curves. Considering that the number of successful bids for the company's surgical power device products and equipment is first in China, and continues to lay out new products around minimally invasive surgery, consolidating the leading position on the minimally invasive circuit and has valuation premium potential, according to the comparative valuation method, the company was given 44 times PE in 24 years, with a target price of 145.2 yuan. The first coverage was given a “increase in holdings” rating.