Core Insights - The brain-computer interface (BCI) sector in China is experiencing significant advancements, with the first invasive BCI product entering the special review process by the National Medical Products Administration, marking a critical step towards market approval [1] - The Chinese government is actively promoting the BCI industry through various policies and standards, including the release of the first technical standard for BCI medical devices [1][2] - Clinical practices for BCIs in China are accelerating, with several hospitals initiating clinical applications and trials, positioning China as the second country globally to enter the clinical trial phase for invasive BCIs [3] Industry Developments - The BCI industry is expected to achieve key technological breakthroughs by 2027, establishing an advanced technical, industrial, and standard system, with a goal of nurturing globally influential companies by 2030 [2] - The BCI market is projected to grow significantly, with estimates indicating a market size of approximately $2.62 billion in 2024, reaching $2.94 billion by 2025, and potentially growing to $12.4 billion by 2034 [4] Clinical and Commercial Progress - Major hospitals in China are launching BCI clinical applications, with initiatives such as the first BCI outpatient clinic in Central China and the establishment of specialized clinical wards for BCI technology [3] - The development of BCI technology is seen as a beacon of hope for over 3 billion people suffering from neurological disorders globally [3] Investment Opportunities - Companies like MicroPort NeuroScience and Heartway Medical are actively involved in BCI projects, with MicroPort achieving a significant market share in neuro-interventional medical devices in China [5] - Nanjing Panda Electronics is also engaged in BCI technology development, focusing on multimodal human-computer interaction systems [5]

Core Insights - The brain-computer interface (BCI) sector in China is experiencing significant advancements, with the first invasive wireless BCI system entering the special review process by the National Medical Products Administration, marking a critical step towards market approval [1] - The Chinese government is actively promoting the BCI industry through various policies and standards, including the release of the first technical standard for BCI medical devices, which provides a unified framework for development and regulation [1][2] - By 2027, breakthroughs in key BCI technologies are expected to establish an advanced technical, industrial, and standard system, with the goal of nurturing globally influential companies by 2030 [2] Industry Developments - Clinical practices for invasive BCIs in China are accelerating, with the country becoming the second globally to enter clinical trial phases after the United States [3] - Major hospitals are launching BCI clinical applications, indicating a shift from research-driven to clinically-driven development in the BCI field [3] - The global BCI market is projected to grow from approximately $2.62 billion in 2024 to $2.94 billion in 2025, with expectations to reach $12.4 billion by 2034 [4] Investment Opportunities - Companies like MicroPort NeuroScience and Heartway Medical are actively involved in BCI projects, with MicroPort achieving a significant market share in neuro-interventional medical devices in China [5] - Heartway Medical is set to begin formal clinical trials for its invasive BCI project by the end of 2026, following successful animal testing [5] - Nanjing Panda Electronics is developing a multimodal human-computer interaction system based on BCI technology, indicating ongoing innovation in the sector [5]

Group 1 - MicroPort Scientific Corporation reduced its stake in MicroPort NeuroScience (02172) by 19 million shares at a price of HKD 10.25 per share, totaling approximately HKD 194.75 million [1] - After the reduction, MicroPort Scientific Corporation's remaining shareholding is approximately 235.9 million shares, representing a holding percentage of 40.32% [1]

Core Viewpoint - MicroPort Scientific Corporation has reduced its stake in MicroPort NeuroScience (02172) by selling 19 million shares at a price of HKD 10.25 per share, totaling approximately HKD 194.75 million, resulting in a new holding of about 235.9 million shares, representing 40.32% ownership [1] Summary by Category - **Share Reduction**: MicroPort Scientific Corporation sold 19 million shares of MicroPort NeuroScience at HKD 10.25 each, amounting to HKD 194.75 million [1] - **Post-Transaction Holdings**: After the sale, MicroPort Scientific Corporation's remaining shares in MicroPort NeuroScience are approximately 235.9 million, which corresponds to a 40.32% ownership stake [1]

Core Viewpoint - MicroPort Scientific Corporation has reduced its stake in MicroPort Scientific (02172) by selling 19 million shares at a price of HKD 10.25 per share, totaling approximately HKD 194.75 million, resulting in a new holding of about 235.9 million shares, representing 40.32% ownership [1] Summary by Category - **Share Reduction** - MicroPort Scientific Corporation sold 19 million shares of MicroPort Scientific (02172) [1] - The sale price was HKD 10.25 per share, amounting to a total of approximately HKD 194.75 million [1] - **Post-Transaction Holdings** - After the reduction, MicroPort Scientific Corporation's remaining shares are approximately 235.9 million [1] - The ownership percentage after the transaction is 40.32% [1]

Group 1 - MicroPort Scientific Corporation reduced its stake in MicroPort Scientific (02172) by 56 million shares at a price of HKD 10.11 per share, totaling approximately HKD 566 million [1] - After the reduction, the latest shareholding number is 255 million shares, representing a holding percentage of 43.57% [1]

Group 1 - MicroPort Scientific Corporation reduced its stake in MicroPort Scientific (02172) by 56 million shares at a price of HKD 10.11 per share, totaling approximately HKD 566 million [1] - After the reduction, MicroPort Scientific Corporation's latest shareholding stands at 255 million shares, representing a holding percentage of 43.57% [1]

Group 1 - MicroPort Scientific Corporation reduced its stake in MicroPort NeuroScience (02172) by 56 million shares at a price of HKD 10.11 per share, totaling approximately HKD 566 million [1] - After the reduction, MicroPort Scientific Corporation holds 255 million shares, representing a 43.57% ownership stake [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 微創腦科學有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02172 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,500,000,000 | USD | | 0.00002 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 2,500,000,000 | USD | | 0.00002 | USD | | 50,000 | 本月底法定/註冊股本總 ...

Core Viewpoint - The recent stock transfer of MicroPort NeuroTech (02172) indicates a significant shift in shareholder structure, while the company's mid-year performance shows a decline in revenue and profit, highlighting potential challenges in its growth trajectory [1]. Group 1: Shareholder Activity - On October 24, MicroPort NeuroTech's shares were transferred from Construction Asia to Guoyuan Securities Brokerage, with a market value of HKD 856 million, representing 12.94% of the total shares [1]. Group 2: Financial Performance - For the mid-year results of 2025, MicroPort NeuroTech reported revenue of approximately HKD 383 million, a year-on-year decrease of 6.2% [1]. - The company's profit attributable to equity shareholders was HKD 92.923 million, reflecting a year-on-year decline of 35.25% [1]. - Earnings per share stood at HKD 0.16 [1]. Group 3: Product and Market Expansion - As of the reporting period, the company had eight products launched internationally, achieving commercialization in 34 overseas countries or regions [1]. - The products cover nine countries that rank among the top ten globally for neuro-interventional procedures [1].