On September 24, GeLongHui | Guosheng Securities' research report pointed out that shenzhen new industries biomedical engineering (300832.SZ) has a complete layout of instruments and reagents, with dual drives of domestic and overseas development, helping to maintain high-speed growth in performance. From 2012 to 2023, the company's revenue and profit CAGR were 28.09% and 32.45% respectively, still maintaining a high growth trend under the disturbance of global public health events. The company's reagent testing menu is rich, leading the way in reagent exports, and is the first domestic manufacturer to obtain CEList A certification for infectious disease projects HBV, HCV, and HIV chemiluminescence. In addition, the company has developed small molecule sandwich technology, launching 25-hydroxyvitamin D, aldosterone, estradiol, tacrolimus, and other 8 small molecule double antibody sandwich method reagents, with higher sensitivity compared to competing methods. Self-developed raw materials and refined small molecule sandwich technology have solidified the competitive advantage of reagents. First coverage, "buy" rating given.