The 14th session of the Central Committee on Comprehensive and Deepening Reform pointed out that key tasks such as speeding up the improvement of the hierarchical diagnosis and treatment system, improving the coordination mechanism for medical prevention and prevention, deepening the reform of public hospitals, deepening the reform of medical insurance payment methods, strengthening the supervision of health insurance funds, strengthening the capacity building of primary medical and health institutions, improving the drug supply guarantee system, etc., improving relevant supporting policies, and fighting a good reform combo. We should attach great importance to the application of next-generation information technology in the field of medicine and health, reshape medical and health management and service models, optimize resource allocation, and improve service efficiency.

Anxin Securities believes that starting in 2020, with the COVID-19 pandemic as a turning point, the two-wheel drive of market+policy will lead the medical information technology industry to start a new wave of development. 1) Policy: The COVID-19 pandemic has revealed that there are still many shortcomings and deficiencies in the domestic public health system, and the informatization construction of subsequent public health systems is expected to accelerate markedly; 2) Market: The COVID-19 pandemic has had a positive and profound impact on consumers' medical habits (rapid spread of Internet medical care) and health awareness (surging demand for commercial health insurance). The release of these market dividends will be the core driving force for the future development of the medical information technology industry.

Anxin Securities recommended Wei Ning Health, founded Huikang, Wanda Information, Jiuyuan Yinhai, etc., and recommended focusing on Donghua Software, Sichuang Healthcare, Maddie Technology, Heren Technology, and Hong Kong Stock's Ping An Good Doctor, Ali Health, etc.