In the relatively niche segment of medical imaging components, domestic companies have begun to make money. iRay Technology, which focuses on core X-ray components, achieved revenue of 1.671 billion yuan in the first half of 2026, up 56.66 percent year on year, with net profit attributable to the parent of 406 million yuan, up 21.25 percent. Jianxin Superconducting, which focuses on core components for medical magnetic resonance imaging, posted operating revenue of 333 million yuan in the first half, up 32.16 percent year on year, and net profit attributable to the parent of 49.2931 million yuan, up 54.43 percent. Ren Yi, general manager of Shengnuo Medical, believes that the localization of complete CT systems has basically been completed, and the localization of core components represents the second stage of industrial development. The past five years were an initial cultivation period, and the next five years are expected to usher in a phase of rapid growth. Miao Tianyi, executive partner of Pusimple Capital, said that medical imaging components are a bottleneck link in the imaging equipment industry chain and a typical picks-and-shovels segment with long-term structural investment value. However, differentiation within the segment is significant. Core components such as detectors, X-ray tubes, high-voltage generators, MRI radiofrequency coils, and gradient power amplifiers have high technical barriers and long certification cycles, giving them higher gross margin potential and wider moats.
iRay Technology Co LtdiRay Technology reported H1 2026 revenue up 56.66% and net profit up 21.25%, a direct earnings result.
Cheng Du Sheng Nuo Biotec Co. Ltd. A