Core Viewpoint - Shenzhen Yahui Long Biotechnology Co., Ltd. has signed a strategic cooperation framework agreement with Shenzhen Brain Machine Star Chain Technology Co., Ltd. The agreement is a framework and does not involve specific monetary commitments, with further details to be clarified in future collaborations [2][12]. Group 1: Agreement Overview - The strategic cooperation agreement was signed on January 6, 2026, in Shenzhen and is a written document [3]. - The agreement is a non-binding framework that does not require approval from the company's board or shareholders [5]. - The cooperation aims to leverage Yahui Long's strong sales channels and expert resources in emergency care and brain disease diagnosis, combined with Brain Machine Star Chain's advanced technology and R&D capabilities in brain-machine interface [6][13]. Group 2: Cooperation Content - The cooperation will focus on market expansion and sales support for Brain Machine Star Chain's existing and in-development products through Yahui Long's sales channels [6]. - Joint R&D efforts will be enhanced, particularly in areas such as stroke, neurodegenerative diseases, and pediatric conditions, to accelerate product development and clinical processes [6][13]. - Both parties agree to prioritize each other for capital and equity cooperation under equal conditions, aiming to improve financing efficiency and governance for Brain Machine Star Chain [6]. Group 3: Rights and Obligations - Yahui Long will provide necessary academic and expert resources to support the R&D and market promotion of the products [7]. - Brain Machine Star Chain is responsible for supplying competitive products that meet national medical device regulations and supporting Yahui Long's marketing activities [9]. - Both parties will maintain communication and share resources while adhering to national laws and regulations [10]. Group 4: Impact on Company - The strategic cooperation agreement is expected to have no significant impact on Yahui Long's current year operating performance, with future impacts dependent on the progress of specific projects [12]. - The collaboration is anticipated to enhance Yahui Long's competitiveness in central nervous system diseases and expand its strategic layout in the brain-machine interface sector, aligning with the company's long-term development strategy [13].

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing significant growth driven by potential market demand, accelerated industrialization, and national strategic support, with expectations for further advancements by 2026 [1][2]. Market Performance - The BCI concept index surged, with a 9.95% increase on January 5, closing at 1937.43 points, followed by a 4.29% rise on January 6, reaching 2020.63 points, resulting in a cumulative increase of 14.67% over two days [2]. - On January 6, the trading volume in the BCI sector hit a record high of 376.32 billion yuan [2]. Company Developments - Multiple listed companies are actively pursuing BCI advancements, with announcements of strategic collaborations and product development plans for 2026 [3]. - Aihuilong signed a strategic cooperation framework with Shenzhen Brain Machine Starlink Technology to enhance diagnostic technologies for central nervous diseases [3]. - Mcland expects to obtain its first BCI medical device registration certificate in Q1 2026, integrating it into existing product lines [3]. - Xiangyu Medical plans to introduce dozens of new products this year to support various clinical needs [3]. Innovative Enterprises - Ladder Medical, the only domestic invasive BCI company in clinical validation, aims to establish a production base by mid-2026 for scalable and controllable production of core BCI components [4]. - The MEMS production base will facilitate high-throughput BCI product manufacturing for clinical applications [4]. Industry Challenges - Experts highlight that the scalability of invasive BCIs hinges on overcoming production and surgical reproducibility challenges [5]. - Key obstacles include enhancing the long-term safety and stability of invasive devices and improving the decoding accuracy for complex cognitive tasks [5]. - The industry must also address product approval timelines, commercialize applications, and cultivate interdisciplinary talent [5]. Technological Pathways - Continuous breakthroughs in hardware, such as high-density flexible electrodes and high-throughput chips, are noted, although the complexity of implantation procedures may delay widespread application [6]. - Non-invasive methods are seen as having advantages in safety and patient acceptance, with potential for expanded applications if key performance improvements are achieved [6].

Core Viewpoint - The Shanghai Stock Exchange has issued an inquiry letter to Yahui Long, requesting additional disclosure regarding its strategic cooperation with Shenzhen Brain Machine Star Chain Technology Co., Ltd. [2] Group 1: Cooperation Details - Yahui Long signed a strategic cooperation framework agreement with Brain Machine Star Chain on January 6, focusing on clinical transformation and market expansion of brain-machine interface technology [2][4] - The cooperation will involve market promotion and revenue sharing [4] Group 2: Inquiry Requirements - The Shanghai Stock Exchange requires Yahui Long to disclose the main technical routes, product types, application fields, and commercialization status of Brain Machine Star Chain [5] - Yahui Long must analyze the feasibility of market promotion collaboration based on its main business and the synergies with Brain Machine Star Chain [5] - The company is also required to provide a timeline for future promotional agreements and expected revenue sharing [5] Group 3: Product Development Status - Brain Machine Star Chain, established in September 2025, is developing products such as EEG analysis devices and non-invasive brain-machine interface devices, which are still in early development stages [4][6] - The vagus nerve stimulation device is in the registration preparation stage, while other products are in early research or preclinical stages [4] Group 4: Financial Performance and Investment Feasibility - Yahui Long's revenue and net profit for the first three quarters of 2025 decreased by 7.69% and 72.36% year-on-year, respectively, with cash reserves of 465 million yuan [10][13] - The company plans to provide financial and business support to Brain Machine Star Chain through equity investment or joint ventures [10][13] - Yahui Long stated that the strategic cooperation will not significantly impact its performance in the short term [13]

Group 1: Company Updates - ChaoYing Electronics has adjusted the investment amount for its AI computing power high-end printed circuit board expansion project from 1.468 billion RMB to 3.315 billion RMB, aiming to meet stronger demand for high-end PCB products and enhance overseas production capabilities [2] - Baihua Pharmaceutical and Siwei Control have both terminated their plans for control change due to a lack of consensus with the transaction parties, with their stocks set to resume trading on January 7, 2026 [3] - Aihui Long has signed a strategic cooperation framework agreement with Brain Machine Star Chain to enhance market expansion and sales of brain-machine interface products through its strong sales channels in emergency, brain disease diagnosis, and pediatrics [10] Group 2: Performance Forecasts - Zhongtai Co. expects a net profit of 420 million to 480 million RMB for 2025, recovering from a loss of 77.96 million RMB in the previous year due to improved operations of its subsidiary [5] - Lier Chemical anticipates a net profit of 460 million to 500 million RMB for 2025, representing a year-on-year growth of 113.62% to 132.19% due to increased demand for its products [5] Group 3: Financing and Restructuring - Zhejiang Xiantong plans to issue A-shares to no more than 35 specific investors, raising up to 1.05 billion RMB for smart manufacturing projects and working capital [7] - Longjing Environmental Protection has received acceptance from the Shanghai Stock Exchange for its securities issuance application, pending further approvals [8] Group 4: Strategic Partnerships - Fushite has signed a strategic cooperation agreement with Jiangxi Copper Group to enhance collaboration in mining equipment maintenance and expand overseas market development [15] - Pro Pharmaceutical has entered into a strategic cooperation framework agreement with Xi'an Xintong Pharmaceutical Research Co., focusing on long-term collaboration in innovative drug research and outsourced production [15] Group 5: Market Activity and Stock Performance - Jia Mei Packaging's stock price increased by 230.48% from December 17, 2025, to January 6, 2026, prompting a temporary suspension for investigation due to significant price volatility [11] - Guosheng Technology's stock experienced a 370.20% increase from October 31, 2025, to January 6, 2026, leading to a suspension for review due to potential irrational market behavior [20]

Core Viewpoint - The Shanghai Stock Exchange has issued an inquiry letter to Yahui Long, requesting additional disclosure regarding its cooperation with Brain Machine Star Chain Technology Co., Ltd. [2] Group 1: Cooperation Details - On January 6, Yahui Long announced the signing of a strategic cooperation framework agreement with Brain Machine Star Chain, focusing on clinical transformation and market expansion of brain-computer interface technology [5][9] - The inquiry letter requires Yahui Long to disclose the main technical routes, product types, application fields, and commercialization status of Brain Machine Star Chain, as well as the resources available for further development [10] - Yahui Long's stock price rose by 6.52% to 15.53 yuan per share, with a total market value of 8.874 billion yuan following the announcement [5] Group 2: Commercial Viability - Brain Machine Star Chain, established on September 2, 2025, has a registered capital of 5 million yuan and focuses on comprehensive diagnosis, treatment, and rehabilitation of brain diseases [9] - The strategic cooperation includes market promotion and revenue sharing, but the products under development, such as brainwave analysis devices and non-invasive brain-computer interface devices, have not yet entered the registration phase [10][11] Group 3: Research and Development Feasibility - Yahui Long and Brain Machine Star Chain plan to enhance R&D collaboration in pediatric, neurological, and metabolic fields [12] - The inquiry letter requests Yahui Long to provide details on the names and progress of in-development projects, as well as the expected investment amounts and collaboration methods [13] Group 4: Financial Considerations - Yahui Long's revenue and net profit for the first three quarters of 2025 decreased by 7.69% and 72.36%, respectively, with cash reserves of 465 million yuan [15][18] - The company is expected to provide specific arrangements for potential equity investments or financial support to Brain Machine Star Chain [17] - Yahui Long stated that the cooperation will not significantly impact its performance in the short term [18]

Market Overview - On January 6, the three major indices collectively rose, with the Shanghai Composite Index reaching a ten-year high, closing up 1.5% [1] - The total trading volume in A-shares reached 2.83 trillion yuan, an increase of 265 billion yuan compared to the previous trading day [1] - Over 4,100 stocks in the market rose, with 143 stocks hitting the daily limit, marking the second consecutive day of over a hundred stocks reaching the limit [1] - The commercial aerospace and brain-computer interface concepts continued to show strong performance [1] Company Announcements - China Satellite announced that its stock price has risen 156.07% since December 3, 2025, significantly outpacing the 23.92% increase in the military industry and 5.31% in the Shanghai Composite Index, indicating a potential overvaluation [3] - China Satellite warned of high trading risks due to market sentiment and irrational speculation, stating that its stock price is detached from its fundamentals [3] - China Satcom also indicated that its stock price has significantly deviated from its fundamentals, with a notable "hot potato" effect in trading, suggesting a high risk of a price drop [4] - Beidou Star Communication noted that its stock price has deviated by over 20% in the last three trading days, highlighting the high market interest in commercial aerospace concepts, while its main business includes satellite navigation products [5] - LeiKe Defense reported a 58.10% increase in stock price over five consecutive trading days, with no significant changes in fundamentals, indicating potential market overheating [6] - Aerospace Electronics announced a 123.23% increase in stock price since November 27, 2025, significantly higher than industry and index increases, warning of trading risks [7] - Aerospace Universe stated that its stock price has risen significantly, with a projected commercial aerospace revenue contribution of less than 15% for 2025 [8] - Aerospace Changfeng clarified that it does not engage in brain-computer interface or commercial aerospace businesses, despite being categorized as such [10] - Sanbo Brain Science indicated that it does not involve in the research or sales of brain-computer interface products, with minimal impact on its overall revenue [13] - Xiangyu Medical is focusing on non-invasive brain-computer interface technology, with no significant sales achieved yet [14] - Mylande announced that its brain-computer interface products are still in the research and development phase, with no major impact on its financial performance [15] - Fenglong Co. reported a 94.92% increase in stock price over seven consecutive trading days, warning of high speculation risks and potential trading halts if prices continue to rise [20][23]

Core Viewpoint - Multiple companies indicate that their brain-computer interface (BCI) products are still in the early cultivation stage, with significant differences in technical routes compared to international mainstream technologies [1]. Group 1: Company Announcements - Several listed companies, including Nanjing Mailande Medical Technology Co., Ltd., reported that their BCI products are still in the research and market cultivation phase and have not yet achieved large-scale sales, thus not significantly impacting their financial performance [4][5]. - Mailande focuses on the development and productization of non-invasive BCI technology, which differs significantly from the invasive BCI technologies currently mainstream internationally [4]. - Weisi Medical also stated that its new products in the BCI field are in the early market cultivation stage, primarily focusing on non-invasive technology, with limited contribution to overall revenue [5]. - Xiangyu Medical revealed that it is concentrating on non-invasive BCI technology, covering various rehabilitation scenarios, but has not yet achieved large-scale sales, resulting in a small revenue contribution [8]. Group 2: Market Reactions and Regulatory Actions - As of January 6, several BCI-related stocks experienced a cumulative price deviation exceeding 30% over three consecutive trading days, prompting the companies to issue announcements regarding abnormal stock trading [4]. - The Shanghai Stock Exchange issued an inquiry letter to Yahui Long, requesting additional disclosures regarding its strategic cooperation framework agreement with Shenzhen Brain Machine Star Chain Technology Co., Ltd., including details on technology routes and product types [11]. - Yahui Long's subsequent announcement clarified that its partner, Brain Machine Star Chain, is in the early stages of product development, focusing on non-invasive technologies, and has not yet entered the registration phase for its products [13].

Company Announcements - Jia Mei Packaging's stock price increased by 230% from December 17, 2025, to January 6, 2026, leading to a suspension for investigation starting January 7, 2026 [2] - Guosheng Technology's stock rose by 370.2% during the same period, prompting a suspension for investigation effective January 7, 2026 [3] - Fenglong Co., Ltd. indicated that it may apply for a suspension if its stock price continues to rise abnormally [4] - Xinfang Pharmaceutical is facing public prosecution for alleged unit bribery [7] - Shengke Communication's second-largest shareholder plans to reduce its stake by no more than 3% [8] - Chip Origin Technology completed the acquisition of Zhudian Semiconductor [9] - Robotech's subsidiary signed a significant contract for automatic optical switch packaging with a Swiss client [10] - Aerospace Changfeng clarified that it does not engage in brain-computer interface or commercial aerospace businesses [12] - Chengjian Development holds 18.91 million shares of Century Space, making it the fourth-largest shareholder [13] - Sanbo Brain Science is not involved in the research, production, or sales of brain-computer interface products [14] - Weisi Medical's new products in the brain-computer interface field are still in the early market cultivation stage [16] - Mairande's products in the brain-computer interface area are also in the research and market cultivation phase [17] - Guankang Technology plans to acquire 100% of Liaojing Electronics, with stock resuming trading [19] - Yahui Long signed a strategic cooperation framework agreement with Brain Machine Star Chain to expand its presence in the brain-computer interface field [20] - China Satellite Communications warned that its stock price is at a historical high and may experience a significant drop [21] - Beidou Star Communication stated that commercial aerospace is just one application scenario for its products and services [22] Financial Performance - Lier Chemical expects a net profit increase of 113.62% to 132.19% for 2025 [39] - Zhongtai Co., Ltd. anticipates a net profit of 420 million to 480 million yuan for 2025, recovering from a previous loss [38] Financing and Capital Increase - Desai Xiwai is planning to issue H-shares and list on the Hong Kong Stock Exchange [40] - Xingye Yinx is also preparing to issue H-shares for listing on the Hong Kong Stock Exchange [41] Other Significant Events - Baotailong's controlling shareholder was ordered to rectify its failure to fulfill a shareholding increase commitment [42] - *ST Changyao's stock may face termination of listing due to negative net assets and other financial issues [43]

智通财经APP讯，亚辉龙(688575.SH)发布关于自愿披露签署战略合作框架协议的补充公告，公告称： 深圳脑机星链科技有限公司(简称："脑机星链")成立时间短，规模较小，目前在睡眠产品方向主要开发 产品有脑电采集分析仪、脑机接口助眠仪、脑机接口睡眠监测仪、迷走神经刺激仪，相关产品尚未进入 注册申报阶段，其中，迷走神经刺激仪处于二类医疗器械证书注册检准备阶段;在阿尔茨海默症、孤独 症、脑卒中诊断领域相关产品目前尚处于早期研发阶段或临床前阶段。脑机星链目前在研产品的技术路 线为非侵入式技术路径，与马斯克创建的脑机接口公司Neuralink在技术路线上存在本质区别，目前也尚 无侵入式技术布局。 ...

北京商报讯（记者 丁宁）1月6日晚间，亚辉龙（688575）发布签署战略合作框架协议的补充公告称， 深圳脑机星链科技有限公司（以下简称"脑机星链"）成立时间短，规模较小，目前在睡眠产品方向主要 开发产品有脑电采集分析仪、脑机接口助眠仪、脑机接口睡眠监测仪、迷走神经刺激仪，相关产品尚未 进入注册申报阶段，其中，迷走神经刺激仪处于二类医疗器械证书注册检准备阶段；在阿尔茨海默症、 孤独症、脑卒中诊断领域相关产品目前尚处于早期研发阶段或临床前阶段。 此外，亚辉龙表示，脑机星链目前在研产品的技术路线为非侵入式技术路径，与马斯克创建的脑机接口 公司 Neuralink 在技术路线上存在本质区别，目前也尚无侵入式技术布局。 据了解，1月6日晚间，亚辉龙公告称，公司于近日与脑机星链签署了《战略合作框架协议》，双方共同 达成战略合作，通过整合脑机接口技术与临床和市场资源，共同开发脑机接口相关在研产品及推进后续 市场拓展及推广，提升在中枢神经疾病等领域诊疗技术水平。随后，针对这一事项，上交所向亚辉龙下 发问询函。 ...