智通财经APP获悉，精锋医疗-B(02675)再涨超7%，昨日大涨超11%。截至发稿，涨7.34%，报70.95港 元，成交额4818.49万港元。 据东北证券研报，精锋医疗为国产手术机器人前二强，多孔腔镜、单孔腔镜、自然腔道机器人海内外快 速放量，2025年国内腔镜机器人招采中标数位居国产第一。远程术式2025年11月获NMPA批准，2025年 10月实现500例手术里程碑。 消息面上，近日，国家医保局发布《手术与治疗辅助操作类医疗服务价格项目立项指南（试行）》，为 手术机器人、能量设备专用耗材及远程手术等创新医疗技术明确了全国统一的价格立项规范。中邮证券 认为，国家统一机器人手术收费框架，将成手术机器人行业商业化重要转折事件。 ...

Group 1 - The National Healthcare Security Administration (NHSA) has issued the "Guidelines for the Pricing Project of Surgical and Treatment Auxiliary Medical Services (Trial)" which standardizes 37 pricing items, 5 additional charges, and 1 expansion item related to medical technology innovations such as 3D printing and robotic surgery [1] - The domestic surgical robot industry, which has been dominated by foreign brands, is expected to see accelerated penetration rates due to the release of the "Guidelines" and the advantages of domestic equipment in terms of cost-effectiveness [1][2] - The market landscape for laparoscopic surgical robots is shifting as domestic brands are projected to surpass imported brands in bidding volumes by 2025, with companies like MicroPort, Precision, and others gaining market share [1] Group 2 - CITIC Securities reports that the NHSA's new policy will accelerate the promotion and adoption of surgical robots in China, with plans for the guidelines to expand in the future, benefiting innovative medical device products [2] - Investment opportunities in the medical industry chain are highlighted, focusing on the surgical robot sector and its upstream and downstream industries, as well as high-value consumables in various medical fields [3] - Companies like Precision Medicine and MicroPort are positioned well in the surgical robot market, with significant order volumes and ongoing product approvals, indicating strong market validation and competitive advantages [4][5]

Core Insights - The National Healthcare Security Administration (NHSA) has officially issued the "Guidelines for the Pricing Project of Surgical and Treatment Auxiliary Medical Services (Trial)" which standardizes pricing for 37 projects, 5 additional charges, and 1 expansion item related to medical technology innovations such as 3D printing and robotic surgery [1][2] Group 1: Industry Overview - The domestic surgical robot industry has started late and has been dominated by foreign brands, but the release of the pricing guidelines and the continuation of policies favoring large-scale equipment updates are expected to accelerate the penetration rate of surgical robots [1] - The market for domestic surgical robots is showing strong potential for replacement, particularly in second and third-tier hospitals, as local brands demonstrate significant cost-performance advantages [1] Group 2: Market Dynamics - The monopoly of the Da Vinci surgical robot is gradually being reshaped, with domestic brands like Weigao, Jisheng, Sizhirui, and Shurui increasing their market share, indicating a shift from a "monopoly" to "multi-strong competition" in the laparoscopic surgical robot market [1] - According to RoboticTech, by 2025, domestic brands are expected to surpass imported brands in terms of bidding volume for laparoscopic surgical robots, further compressing Da Vinci's market share [1] Group 3: Investment Opportunities - CITIC Securities suggests that investors should focus on the surgical robot industry and its upstream and downstream supply chains, as well as high-value consumables in fields such as minimally invasive surgery, orthopedics, gastroenterology, cardiovascular, and neurology [3] - The NHSA's new policy is expected to accelerate the promotion and popularization of surgical robots in China, benefiting the overall innovative medical device sector [2] Group 4: Company Highlights - Precision Medical (02675) is recognized as a leading domestic surgical robot company, being the first in China and the second globally to obtain regulatory approval for multiple types of laparoscopic surgical robots [4] - MicroPort (02252) has reported a cumulative order of over 230 surgical robots, with more than 160 being laparoscopic surgical robots, indicating strong market validation of its global strategy [4] - Kangji Medical (09997) is a leading company in minimally invasive surgical consumables, strategically investing in Weijing Medical to expand its product offerings, with expectations of significant growth as domestic surgical robots become more prevalent [5]

Core Insights - The National Healthcare Security Administration (NHSA) has issued the "Guidelines for the Pricing Project of Surgical and Treatment Auxiliary Medical Services (Trial)" which standardizes pricing for 37 projects and 5 additional items related to innovative medical technologies such as 3D printing and robotic surgery [1][2] Industry Overview - The domestic surgical robot industry is relatively new and has been dominated by foreign brands. However, the release of the pricing guidelines and the continuation of policies favoring large-scale equipment updates are expected to accelerate the penetration of surgical robots in the market [1] - The guidelines are seen as a step towards the "standardized development" of the surgical robot industry, which may enhance the clinical application penetration of these products [1][2] Market Dynamics - The market share of the Da Vinci surgical robot is being gradually challenged by domestic brands such as Weigao, Jisheng, and others, with projections indicating that by 2025, domestic brands will surpass imports in terms of bidding volume for laparoscopic surgical robots [1] - The competitive landscape is shifting from a "monopoly" to a "multi-strong competition" model, indicating a significant change in market dynamics [1] Investment Opportunities - Citic Securities recommends investors focus on the surgical robot industry and its supply chain, as well as high-value consumables in fields such as minimally invasive surgery, orthopedics, and cardiovascular medicine [3] - Companies like Precision Medical and MicroPort are highlighted as key players in the surgical robot market, with Precision Medical being the first in China to obtain approvals for multiple types of surgical robots [4] - MicroPort has reported significant order volumes for its surgical robots, indicating strong market validation and potential for continued growth [4] Strategic Developments - Kangji Medical, a leader in minimally invasive surgical consumables, is expanding its product portfolio through strategic investments, which may lead to increased market share as domestic surgical robots become more prevalent [5]

公开资料显示，精锋医疗是国内医疗器械行业的先进手术机器人公司，专注于手术机器人的设计、开发 及制造。根据弗若斯特沙利文的资料，精锋医疗是中国首家、全球第二家同时取得多孔腔镜手术机器 人、单孔腔镜手术机器人及自然腔道手术机器人注册审批的企业。 消息面上，1月20日，国家医保局正式发布《手术和治疗辅助操作类医疗服务价格项目立项指南(试 行)》，聚焦医疗技术前沿成果，围绕3D打印、示踪增强成像、能量器械、术中影像引导、机械臂与远 程手术等医疗科技创新成果，进行统一价格立项，规范形成37项价格项目、5项加收项、1项扩展项。方 正证券认为，该指南的执行将在各省份全面推进手术机器人等的规范立项和收费价格制定，促进创新技 术的临床普及，驱动终端设备采购和手术辅助需求释放，建议关注国产手术机器人龙头企业精锋医疗 等。 精锋医疗-B(02675)涨超9%，截至发稿，涨9.09%，报64.8港元，成交额2305.85万港元。 ...

智通财经APP获悉，精锋医疗-B(02675)涨超9%，截至发稿，涨9.09%，报64.8港元，成交额2305.85万港 元。 公开资料显示，精锋医疗是国内医疗器械行业的先进手术机器人公司，专注于手术机器人的设计、开发 及制造。根据弗若斯特沙利文的资料，精锋医疗是中国首家、全球第二家同时取得多孔腔镜手术机器 人、单孔腔镜手术机器人及自然腔道手术机器人注册审批的企业。 消息面上，1月20日，国家医保局正式发布《手术和治疗辅助操作类医疗服务价格项目立项指南（试 行）》，聚焦医疗技术前沿成果，围绕3D打印、示踪增强成像、能量器械、术中影像引导、机械臂与 远程手术等医疗科技创新成果，进行统一价格立项，规范形成37项价格项目、5项加收项、1项扩展项。 方正证券认为，该指南的执行将在各省份全面推进手术机器人等的规范立项和收费价格制定，促进创新 技术的临床普及，驱动终端设备采购和手术辅助需求释放，建议关注国产手术机器人龙头企业精锋医疗 等。 ...

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Investment Rating - The report maintains a positive outlook on the humanoid robotics sector, suggesting that 2025 will be a pivotal year for major companies entering the market, with acceleration expected in 2026 [3]. Core Insights - Boston Dynamics has launched the new generation Atlas humanoid robot and commenced mass production, indicating a shift towards industrial usability [16]. - Mobileye, a subsidiary of Intel, has acquired Mentee Robotics for approximately $900 million, enhancing its capabilities in embodied intelligence [17]. - The report highlights significant growth in the humanoid robotics sector, with a notable increase in liquidity and performance compared to the broader market [10][12]. Summary by Sections Important Events - Boston Dynamics announced the mass production of the Atlas humanoid robot, with initial deployments planned for 2026 [16]. - Mobileye's acquisition of Mentee Robotics aims to integrate advanced AI capabilities into its operations [17]. - Extreme Intelligence secured a new order worth 200 million yuan in Eastern Europe, contributing to a total order value of nearly 500 million yuan for 2025 [18]. - Anpelon plans to raise up to 544 million yuan for various projects, including the construction of a force sensor production line [19]. - Precision Medical has been listed on the Hong Kong Stock Exchange, achieving a market capitalization exceeding 20 billion HKD [21]. - Strong Brain Technology completed a financing round of 2 billion yuan, marking a significant investment in the brain-computer interface sector [22]. - Leju Robotics has partnered with Alibaba Cloud for comprehensive AI collaboration [23]. Industry Performance - The humanoid robotics sector outperformed the market in the first week of trading in January 2026, with a 4.91% increase in the humanoid robotics index compared to a 2.79% increase in the CSI 300 index [10]. - The liquidity of core humanoid robotics stocks reached a peak, with a trading volume accounting for 11.81% of the total A-share market on December 31, 2025 [12]. - The report lists the top-performing stocks in the humanoid robotics sector, with significant gains observed in companies like Slin Smart Drive and Lens Technology [14]. Related Companies - The report identifies key companies in the humanoid robotics supply chain, including Tier 1 suppliers such as Changying Precision, Sanhua Intelligent Control, and Top Group [4]. - It also highlights companies involved in various components essential for humanoid robotics, such as sensors, actuators, and structural parts [9].

Core Viewpoint - Jingfeng Medical-B (02675) experienced a significant stock price increase, reaching a new high of 63.75 HKD, reflecting strong market interest in the company and its sector [1] Company Summary - Jingfeng Medical is a leading surgical robot company in China's medical device industry, focusing on the design, development, and manufacturing of surgical robots [1] - It is the first company in China and the second globally to obtain regulatory approval for multi-port, single-port, and natural orifice surgical robots [1] Industry Summary - According to Frost & Sullivan, the penetration rate of surgical robots in China is currently below 1%, significantly lower than the 21.9% in the United States, indicating substantial growth potential [1] - The Da Vinci system currently dominates over 40% of the market share, suggesting that there is considerable room for domestic manufacturers to increase their market presence [1] - The ongoing support from national policies and the acceleration of regulatory approvals are contributing to heightened interest from capital markets in the laparoscopic robot sector [1]

Group 1 - The core viewpoint of the article highlights the significant rise in the stock price of Precision Medicine-B (02675), which increased over 9% to reach a new high of 63.75 HKD, with a trading volume of 1.04 million HKD [1] - Precision Medicine is recognized as an advanced surgical robot company in China's medical device industry, focusing on the design, development, and manufacturing of surgical robots [1] - According to Frost & Sullivan, Precision Medicine is the first company in China and the second globally to obtain regulatory approval for multi-port, single-port, and natural orifice surgical robots [1] Group 2 - Founder Securities believes that the global IPO of Precision Medicine has attracted diverse and global cornerstone investors, reigniting capital interest in the laparoscopic robot sector [1] - The current surgical penetration rate of laparoscopic surgical robots in China is less than 1%, significantly lower than the 21.9% in the United States, indicating substantial room for growth in domestic market share [1] - The market is still dominated by the Da Vinci system, which holds over 40% of the market share, suggesting that there is considerable potential for increased domestic production rates under ongoing government support and accelerated regulatory environment [1]