Investment Rating - The report maintains a rating of "Overweight" for the pharmaceutical and biotechnology sector [4]. Core Insights - The brain-computer interface (BCI) sector is showing active performance, with recommendations to continue monitoring thematic opportunities. The global BCI market is projected to reach USD 7.63 billion by 2029, indicating a rapidly opening blue ocean market [20][21]. - The investment strategy emphasizes the importance of clinical value in the pharmaceutical sector, focusing on innovative drug chains and medical devices. Key recommendations include companies involved in BD overseas acceleration and high-end medical devices [23][25]. Summary by Sections Market Review - The A-share pharmaceutical and biotechnology index rose by 7.81%, outperforming the CSI 300 index by 5.03 percentage points and the ChiNext index by 2.10 percentage points, ranking 6th among 31 sub-industries. The Hong Kong Hang Seng Healthcare Index increased by 10.26%, surpassing the Hang Seng Index by 11.57 percentage points [15][9]. R&D Progress - Recent clinical applications include IMM2510 and Tida-Paclitaxel from Yiming Anke, with ongoing Phase III trials for Tiengoteini from Yaokang and Phase II trials for SYS6017 from Shiyao Group [28]. Key Recommendations - Focus on three categories of companies: 1. Medical scene integrators (e.g., Xiangyu Medical, Weisi Medical) benefiting from insurance payment integration and existing rehabilitation needs [21]. 2. Leaders in invasive/semi-invasive technologies (e.g., Xinwei Medical, Jieti Medical) with significant technological advantages [21]. 3. Full-process support providers (e.g., Meihua Medical, Sanbo Neuroscience) focusing on high-certainty segments like supply chain production and clinical development [21]. Financial Forecasts and Valuations - Key companies and their projected earnings per share (EPS) and price-to-earnings (PE) ratios for 2024-2026 include: - Tianzhili: EPS of 0.64, PE of 24 [3]. - Innovent Biologics: EPS of -0.06, PE of NA [3]. - WuXi AppTec: EPS of 3.27, PE of 30 [3]. - Mindray Medical: EPS of 9.62, PE of 21 [3]. - Weisi Medical: EPS of 1.06, PE of 62 [3]. Policy and Industry Resonance - The report highlights a structural shift in domestic policies favoring innovative drugs, with a focus on clinical value and the potential for valuation recovery in the pharmaceutical sector. The report suggests that the investment attractiveness of the pharmaceutical sector will continue to grow [23][24].

Industry Overview - Brain-Computer Interface (BCI) is a new cross-disciplinary technology that creates a communication channel between the brain and external devices, enabling direct information exchange [6] - BCIs can be classified into three types: invasive, semi-invasive, and non-invasive, with applications in medical rehabilitation, consumer interactions, and military fields [7] - The global BCI market is projected to reach $7.63 billion by 2029, growing from $1.2 billion in 2019 to nearly $2 billion in 2023, with a compound annual growth rate (CAGR) exceeding 13% from 2019 to 2023 [13][14] - Over 1,500 financing events in the global BCI sector have raised nearly $10 billion, with significant investments in both the U.S. and China [16] Policy Guidance - Major countries have launched brain initiatives to support BCI development, with the U.S. investing approximately $4.5 billion in its BRAIN Initiative since 2013 [37][40] - China has initiated its "Brain Science and Brain-Like Intelligence Technology" project, with funding expected to reach hundreds of billions of yuan [39][42] Clinical Situation - The medical demand for BCIs is driven by the need for rehabilitation in stroke and disabled populations, with significant clinical research already underway for various diseases [3][33] - Clinical trials for BCIs are accelerating globally, with a rapid increase in the number of trials in China [3][11] Industry Progress - Notable advancements include Neuralink's implantation of over 10 devices and Synchron's achievement of brain-controlled iPad functionality [4][4] - Key overseas companies like Neuralink and Synchron are leading in the invasive BCI field, focusing on treatment and human-computer interaction [4][4] - Domestic companies are also making strides, with clinical trials accelerating and real-time Chinese language decoding being achieved [4][4] Industry Chain Analysis - The BCI industry chain consists of upstream hardware and software supply, midstream BCI product supply, and downstream applications in various fields [18] - Upstream technology innovation barriers are high, with breakthroughs in flexible electrodes and chips being critical [20][21] - Downstream applications are primarily in the medical field, which is the most mature area for commercialization [30]

交易信息汇总 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 伟思医疗（688580）因单日收盘价涨幅达15%且连续3个交易日涨幅偏离值累计达30%，于2026年1月6 日登龙虎榜。为近5个交易日内首次上榜。 来自交易信息汇总：伟思医疗因3日涨幅偏离值达30%登上龙虎榜。 来自公司公告汇总：公司提示脑机接口新产品尚处市场培育期，未形成规模销售。 来自公司公告汇总：2025年前三季度营收3.26亿元，同比增11.58%；归母净利润1.02亿元，同比 增30.68%。 截至2026年1月9日收盘，伟思医疗（688580）报收于65.7元，较上周的48.4元上涨35.74%。本周，伟思 医疗1月7日盘中最高价报72.27元，股价触及近一年最高点。1月5日盘中最低价报51.9元。本周共计2次 涨停收盘，无跌停收盘情况。伟思医疗当前最新总市值62.92亿元，在医疗器械板块市值排名62/127， 在两市A股市值排名2932/5182。 公司公告汇总 本周关注点 公司股票连续三日收盘价涨幅偏离值超30%，构成交易异常波动。经自查，无应披露未披露事 ...

Group 1 - The core focus of the news is the surge in stock prices of companies involved in brain-computer interface (BCI) technology, reminiscent of the AI boom following AlphaGo's victory over Lee Sedol in 2016, with a notable increase in the sector's stock prices exceeding 12% on the first trading day of 2026 [1] - Companies like Sanbo Neuroscience and Xiangyu Medical have experienced consecutive trading halts, with Xiangyu Medical and Weisi Medical achieving two 20% trading halts in four trading days, indicating strong market interest [1] - The market's enthusiasm is driven by the perceived potential of the BCI sector, with Morgan Stanley predicting that the U.S. market for BCI implant devices could reach $80 billion by 2035 [1] Group 2 - Despite the excitement, experts caution that medical-grade applications of BCI are expected to take 3 to 5 years for approval, while consumer-grade products face challenges such as bulkiness, low user engagement, and high costs [2] - Historical precedents raise concerns about the sustainability of the current hype, with past instances like the metaverse index and AI stocks experiencing significant volatility [2] - Investment in the BCI sector has seen 16 financing events totaling 983 million yuan in 2025, but no products have been commercially launched yet, indicating that many startups are still in the concept validation stage [2] Group 3 - Sanbo Neuroscience clarified that it does not engage in the research, production, or sales of BCI products, and the revenue from neuro-regulation technology is minimal, having little impact on overall performance [3] - Xiangyu Medical acknowledged its investment in BCI technology but noted that related products have not achieved significant sales volume as of the end of 2025 [3] - Some companies, like Yahui Long, faced regulatory warnings for inaccurate disclosures related to BCI partnerships, highlighting the risks of speculative trading in this sector [3]

Group 1 - The core viewpoint of the article highlights a significant surge in A-share market stocks related to brain-computer interface (BCI) technology, driven by recent developments in the sector [1] - Aipeng Medical reached a 20% daily limit increase, while Kefu Medical rose over 15%, indicating strong investor interest in BCI-related companies [1] - Notable stocks such as Nanjing Panda, Pulite, and Innovation Medical achieved a 10% daily limit increase, reflecting a broader trend of positive market sentiment towards BCI stocks [1] Group 2 - The article mentions that on January 6, Strong Brain Technology, a leading company in the BCI field, announced the completion of approximately 2 billion RMB in financing, marking a significant milestone for the industry [1] - This financing round is noted to be the second largest globally in the BCI sector, only behind Neuralink, which is owned by Elon Musk [1] - The financing success of Strong Brain Technology is expected to further stimulate interest and investment in the BCI market, potentially leading to more advancements and innovations in the field [1]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 0.99%, closing at 1443.39 points, with a total trading volume of 5.729 billion shares and a turnover of 309.373 billion yuan, resulting in an average turnover rate of 2.92% [1] - Among the tradable stocks on the STAR Market, 371 stocks closed higher, with 28 stocks increasing by over 10%, including Yinos, Fuxin Technology, and Anda Intelligent, which hit the daily limit [1] - The distribution of turnover rates shows that 11 stocks had turnover rates exceeding 20%, while 39 stocks had rates between 10% and 20% [1] High Turnover Stocks - The stock with the highest turnover rate was Hengkong New Materials, which closed at 62.06 yuan, up 19.99%, with a turnover rate of 41.79% and a trading volume of 1.222 billion yuan [3] - Other notable high turnover stocks included Jianxin Superconducting, which rose by 8.99% with a turnover rate of 37.03%, and Qiangyi Co., which increased by 12.55% with a turnover rate of 31.76% [3][4] Sector Analysis - In the high turnover stocks, the electronics sector had the most representation, with 63 stocks, followed by the pharmaceutical and biological sector with 23 stocks, and the national defense and military industry with 17 stocks [2] - Among the high turnover stocks, 129 stocks saw an increase, with Hengkong New Materials, Shengbang Safety, and Bibet hitting the daily limit [2] Capital Flow - A total of 99 stocks in the high turnover category experienced net inflows of main funds, with the highest net inflows recorded for Dekeli, Huahong Company, and Hengkong New Materials, amounting to 461 million yuan, 262 million yuan, and 223 million yuan respectively [2] - Conversely, the stocks with the largest net outflows included Lvdihui, Chengdu Xian Dao, and Huasheng Lithium Battery, with outflows of 318 million yuan, 142 million yuan, and 140 million yuan respectively [2] Leverage Fund Movements - Among the high turnover stocks, 107 stocks recently received net purchases from leveraged funds, with significant increases in financing balances for Qiangyi Co., Xinyuan Co., and Huahong Company, which rose by 584 million yuan, 522 million yuan, and 459 million yuan respectively [2]

| 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688273 | 麦澜德 | 1 | -11.09 | 54.43 乙 | 28.01 | | 300430 | 诚益通 | 1 | -10.91 | 67.31亿 | 28.25 | | 301330 | 熵基科技 | 1 | -10.40 | 100亿 | 29.02 | | 300753 | 爰朋医疗 | 1 | -10.39 | 45.14亿 | 29.05 | | 300652 | 雷迪克 | 中 | -8.34 | 82.53 Z | 12.78 | | 688580 | 伟思医疗 | 1 | -8.03 | 61.39亿 | 32.44 | | 603579 | 荣泰健康 | 1 | -6.80 | 54.60亿 | 12.77 | | 301087 | 可孚医疗 | 1 | -6.44 | 99.25亿 | 6.36 | | 300884 | 狄耐克 | 1 | -6.19 | 42.34亿 | 12.70 | | 603610 | 麒盛科 ...

消息面上，多家脑机接口概念股出降温公告。其中，航天长峰称公司未实际开展脑机接口等相关业务； 伟思医疗称在脑机接口领域的新产品仍处于市场培育初期。 格隆汇1月7日｜A股市场部分脑机接口概念股明显回调，其中，麦澜德、熵基科技跌超10%，诚益通、 雷迪克跌超7%，博拓生物、爱朋医疗跌超6%，可孚医疗、翔宇医疗跌超5%，狄耐克、伟思医疗跌超 4%。 股票频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 ...

Group 1 - The A-share market has seen a significant pullback in brain-computer interface (BCI) concept stocks, with notable declines in companies such as Mailland and Entropy Technology, which fell over 10% [1] - Several BCI concept stocks have issued announcements indicating a cooling off, with Aerospace Changfeng stating that it has not actually engaged in BCI-related business [1] - Weisi Medical mentioned that its new products in the BCI field are still in the early stages of market cultivation [1] Group 2 - Specific stock performance includes Mailland down 10.68% with a market cap of 5.468 billion, Entropy Technology down 10.13% with a market cap of 10.1 billion, and Chengyi Tong down 7.55% with a market cap of 6.985 billion [2] - Other notable declines include Leedick down 7.14%, Botao Biological down 6.37%, and Aipeng Medical down 6.38% [2] - The overall trend shows that many BCI-related stocks are experiencing a downturn, with declines ranging from 4.33% to 10.68% across various companies [2]

Group 1: Data Standards and Regulations - The National Bureau of Statistics announced that by 2026, China will introduce over 30 national standards in the data field, focusing on emerging areas such as intelligent agents and embodied intelligence [2] - The development of standards for public data, high-quality datasets, and data infrastructure will be accelerated, along with key standards for urban digital transformation and a national integrated computing network [2] - In 2025, China developed 48 national standards and technical documents in the data field, with over one-third undergoing simultaneous validation trials during the drafting process [2] Group 2: Technology Developments - Huang Renxun stated at CES that server racks equipped with the new Rubin chip can be cooled without water cooling systems, requiring airflow similar to that of racks with Blackwell chips [3] - Following Huang's comments, data center cooling concept stocks experienced significant declines, with companies like Johnson Controls and Trane Technologies dropping by 10% and Modine by 20% [3] Group 3: Financing and Investment - XAI announced it raised $20 billion in its E round of financing, surpassing its $15 billion target, with strategic investors including Nvidia and Cisco [4] - Qiang Brain Technology, a brain-computer interface "unicorn," completed approximately 2 billion yuan in financing, making it the second-largest financing in the brain-computer interface field after Neuralink [5] Group 4: Market Trends - Two listed companies in lithium iron phosphate confirmed price increases of 1,500 to 2,000 yuan per ton for major clients [6] - Companies like Xiangyu Medical and Weisi Medical are focusing on non-invasive brain-computer interface technologies, but have not achieved large-scale sales as of the end of 2025 [7][8] - Micron's products in the brain-computer interface field are still in the research and market cultivation phase, with no significant impact on company performance yet [9] Group 5: Corporate Actions - Chip Origin announced the completion of the acquisition of Zhudian Semiconductor, with a new registered capital of 9.5 billion yuan, making it the largest shareholder [11] - Shengke Communication's second-largest shareholder plans to reduce its stake by up to 3% through trading methods [12] - Yandong Micro's fourth-largest shareholder reduced its stake from 6.08% to 6.00% as part of a previously disclosed plan [13]