经济观察网1月7日，上交所连开两张"罚单"，分别对科创板公司亚辉龙、英集芯及有关责任人予以监管 警示，原因为相关公司在披露涉及"脑机接口"业务信息时存在不准确、不完整的情形。 ...

1月6日收盘后，亚辉龙披露《关于自愿披露签署战略合作框架协议的公告》称，公司与脑机星链签订《战略合作框架协议》，双方将在产品研发、市场 推广以及股权投资等方面开展合作。 亚辉龙公告称，脑机星链是一家以人工智能为核心驱动力，深耕非侵入式与侵入式双技术路径的企业，已开发脑电采集分析仪等产品。 1月7日，亚辉龙及有关责任人、英集芯及有关责任人，均被上交所予以监管警示。 | 证券代码 | 证券简称 | 监管类型 | 处理事由 | 涉及对象 | 处理日期 | | --- | --- | --- | --- | --- | --- | | 688575 | 亚辉龙 | 监管警示 | 关于深圳市亚辉龙生物科技股份有 | 上市公司,董秘 | 2026-01-07 | | | | | 限公司的决定书 | | | | 688209 | 英集芯 | 监管警示 | 关于深圳英集芯科技股份有限公司 | 上市公司,董秘 | 2026-01-07 | | | | | 的决定书 | | | 综合来看，亚辉龙、英集芯近期在发布的公告或互动平台上，提及与"脑机接口"等热点概念相关信息，但存在信息披露不准确、不完整，风险提示不充 分等问题。 监管 ...

1月7日，上交所连开两张"罚单"，分别对科创板公司亚辉龙、英集芯及有关责任人予以监管警示，原因为相关公司在披露涉及"脑机接口"业务信息时存 在不准确、不完整的情形。 | 证券代码 | 证券简称 | 监管类型 | 外理事由 | 涉及对象 | 外理日期 | | --- | --- | --- | --- | --- | --- | | 688575 | 亚辉龙 | 监管警示 | 关于深圳市亚辉龙生物科技股份有 | 上市公司,董秘 | 2026-01-07 | | | | | 限公司的决定书 | | | | 688209 | 英集示 | 监管警示 | 关于深圳英集芯科技股份有限公司 | 上市公司,董秘 | 2026-01-07 | | | | | 的地完书 | | | 亚辉龙1月6日股价上涨6.52%、成交量较前一个交易日增长299%。当天收盘后，该公司自愿披露与深圳脑机星链科技有限公司签订《战略合作框架协 议》，称双方将在产品研发、市场推广以及股权投资等方面开展合作，并披露后者为"深耕非侵入式与侵入式双技术路径的领先企业"。该公告披露后引 发市场关注，上交所火速下发问询函，要求公司说明合作具体情况。在监管督促下， ...

Core Viewpoint - The article discusses regulatory warnings issued by the Shanghai Stock Exchange to two companies, Yahui Long and Yingjixin, for inaccurate and incomplete disclosures related to their "brain-computer interface" business, highlighting the importance of accurate information disclosure in a market with heightened investor interest in this sector [1][4][5]. Group 1: Regulatory Actions - On January 7, the Shanghai Stock Exchange issued regulatory warnings to Yahui Long and Yingjixin due to their misleading disclosures regarding their involvement in the "brain-computer interface" sector [1][4]. - Both companies received inquiries from the exchange on January 6, prompting them to clarify their business risks and provide additional disclosures [2][4]. Group 2: Market Reactions - The "brain-computer interface" concept has become a market hotspot, leading to significant stock price increases for several companies, including Weisi Medical, Xiangyu Medical, and Mcland, which experienced consecutive trading halts [3][8]. - Yahui Long's stock rose by 6.52% on January 6, with trading volume increasing by 299% compared to the previous day, following the announcement of a strategic cooperation framework with Shenzhen Brain Star Chain Technology Co., Ltd. [4]. Group 3: Information Disclosure Issues - Yahui Long's announcement regarding its cooperation with Brain Star Chain was criticized for being vague and inconsistent, failing to adequately disclose the risks associated with its business [5][6]. - Yingjixin's communication on its IPA1299 chip, intended for brain-computer interface applications, was also deemed insufficient, lacking clarity on the product's market status and potential sales uncertainties [5][6]. Group 4: Broader Industry Context - Other companies in the sector, such as Weisi Medical, Xiangyu Medical, and Mcland, have also issued announcements to clarify their positions and remind investors of the risks associated with their involvement in the "brain-computer interface" market, emphasizing that their main business remains in rehabilitation medical devices [8]. - The article notes that the technology paths for these companies are primarily "non-invasive," contrasting with the "invasive" approaches taken by leading international firms in the field [8].

Group 1 - The Shanghai Stock Exchange issued a regulatory warning to YHLO (688575) and its then Secretary of the Board, Wang Mingyang, due to discrepancies in the company's disclosures regarding a strategic cooperation framework agreement with Shenzhen Brain Machine Starlink Technology Co., Ltd. [1] - YHLO announced a strategic cooperation with Brain Machine Starlink, focusing on product development, market promotion, and equity investment, highlighting the company's engagement in artificial intelligence and non-invasive/invasive technology paths [1][2] - Following media attention, YHLO issued a supplementary announcement clarifying that Brain Machine Starlink's current research products are based solely on non-invasive technology, with some products still in early development or preclinical stages [1][2] Group 2 - The "brain-computer interface" is currently a hot market concept, attracting significant investor interest, which led to a 6.52% increase in YHLO's stock price and a 299% rise in trading volume on the day of the announcement [2] - The Shanghai Stock Exchange emphasized the need for YHLO to ensure that disclosures regarding the cooperation with Brain Machine Starlink are accurate, complete, and not misleading, particularly given the inconsistencies in the statements about the invasive technology path [2] - The exchange noted that YHLO's announcements failed to adequately address key investor concerns regarding the feasibility and uncertainties of the collaboration, leading to the regulatory warning [2]

Core Viewpoint - The Shanghai Stock Exchange issued a regulatory warning to Shenzhen Yahui Long Biotechnology Co., Ltd. for inaccurate and incomplete information disclosure regarding its strategic cooperation with Shenzhen Brain Machine Starlink Technology Co., Ltd. [1][2] Group 1: Company Actions - Shenzhen Yahui Long announced a strategic cooperation framework agreement with Brain Machine Starlink, focusing on product development, market promotion, and equity investment [1] - Following media attention, the company issued a supplementary announcement clarifying that Brain Machine Starlink's current research products only involve non-invasive technology and that some products are still in early development or preclinical stages [1][2] Group 2: Market Reaction - The announcement led to a 6.52% increase in the company's stock price, with trading volume rising by 299% compared to the previous trading day [2] Group 3: Regulatory Findings - The company was found to have inconsistent statements regarding the inclusion of invasive technology in its partnership, failing to adequately disclose risks related to cooperation feasibility and uncertainties [2] - The actions of the company violated multiple provisions of the Shanghai Stock Exchange's rules, leading to a regulatory warning for the company and its former board secretary, Wang Mingyang [2]

Group 1 - The core viewpoint of the article is that the Shanghai Stock Exchange issued two regulatory warnings to companies Yahui Long and Yingjixin for inaccuracies and incompleteness in disclosing information related to their "brain-computer interface" business [1] Group 2 - The regulatory warnings were issued on January 7, indicating a proactive approach by the exchange to ensure transparency and accuracy in financial disclosures [1] - The companies involved are listed on the Sci-Tech Innovation Board, highlighting the importance of compliance in emerging technology sectors [1] - The specific nature of the inaccuracies and incompleteness in the disclosures has not been detailed, but it raises concerns about corporate governance and investor trust [1]

Core Viewpoint - The company Aihuilong (688575) has responded to an inquiry from the Shanghai Stock Exchange regarding its recent strategic cooperation with Shenzhen Brain Machine Starlink Technology Co., Ltd. [1] Group 1: Strategic Cooperation - Aihuilong has signed a Strategic Cooperation Framework Agreement with Brain Machine Starlink, which was established in September 2025 with a registered capital of 5 million yuan [1] - The main business of Brain Machine Starlink includes comprehensive diagnosis, treatment, and rehabilitation of brain diseases [1] - The cooperation will involve market promotion and revenue sharing [1] Group 2: Product Development and Regulatory Status - The products intended for cooperation have not yet obtained medical device registration certificates, with the earliest potential product being a vagus nerve stimulator, pending final approval [1] - There is uncertainty regarding the approval of the product, and if approved, the earliest revenue generation is expected no earlier than November 2026 [1] - The sales performance of the product post-launch will depend on market conditions, and there is uncertainty regarding the conversion of sales channel resources [1] Group 3: Financial Implications - Aihuilong indicated that the cooperation with Brain Machine Starlink will not have a significant impact on its business due to the latter's short establishment time and small scale [1] - The company may consider equity investments or joint ventures to support further research and development, but any investment is expected to be small and not significantly impactful [1]

证券代码：688575 证券简称：亚辉龙 公告编号：2026-004 深圳市亚辉龙生物科技股份有限公司 关于上海证券交易所问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 深圳脑机星链科技有限公司（以下简称"脑机星链"）在严肃医疗场景下与 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"或"亚辉龙"）拟合作的 相关产品尚未取得医疗器械注册证，预计最早拿证产品为迷走神经刺激仪（暂定名， 以最终获批为准），能否获证存在不确定性，如果获批，预计公司最早产生收益的 时间不早于 2026 年 11 月，且产品上市后的具体销售情况还取决于市场环境等情况， 公司相关市场销售渠道资源转化存在不确定性，本次合作对公司业务无重大影响。 公司与脑机星链拟合作研发的相关领域均为非侵入式技术路径，目前尚处于 在早期阶段，相关项目预估研发投入 3000 万元左右，公司具体投入金额尚需根据研 发项目实际情况，结合公司自身需求以及未来与脑机星链的协商最终确定。相关项 目开发周期较长，存在不确定性，双方也尚未明确合作的具体 ...

Core Viewpoint - The company Aihuilong (688575.SH) is collaborating with Brain Machine Star Chain on product development, but the related medical device registration certificate has not yet been obtained, with expected revenue generation not anticipated before November 2026 [1] Group 1: Collaboration and Development - The collaboration with Brain Machine Star Chain focuses on non-invasive technology paths, which are currently in the early stages of development [1] - The estimated research and development investment for the related projects is around 30 million yuan [1] Group 2: Financial Implications - Brain Machine Star Chain is a relatively new and small-scale company, which may require expanded financing to advance subsequent research and development [1] - The company does not rule out small-scale equity investments or joint ventures in the short term, but the expected investment amount is not anticipated to have a significant impact on the company [1]