Core Viewpoint - The long-term potential of the medical robotics market is significant, but large-scale commercialization will take time [1] Company Focus - The company is currently focusing on areas with clear application scenarios and has developed exoskeleton robots, including medical and portable versions [1] - The portable version of the exoskeleton robot is currently being trialed in certain scenic spots, receiving positive feedback [1] - The company is also exploring brain-controlled exoskeleton products and companion robots, having the technical reserves to quickly advance productization when market opportunities mature [1]

证券日报网讯 1月26日，翔宇医疗在互动平台回答投资者提问时表示，目前公司聚焦非侵入式康复全场 景布局，同时已启动侵入式领域的探索，与西安交大共建的康复器械实验室已开展侵入式相关实验，将 重点关注与公司现有渠道、市场应用范围高度契合的侵入式/半侵入式技术方向。公司将依据临床效果 验证，优先选择落地速度快、患者接受度高的细分方向。 （文章来源：证券日报） ...

近日，河南省科技厅发布了《关于同意建设河南省脑机接口康复设备技术创新中心等河南省技术创新中 心的通知》，翔宇医疗牵头申报的河南省脑机接口康复设备技术创新中心上榜，成为国内率先获批建设 的省级脑机接口技术创新平台。该中心由翔宇医疗牵头，联合郑州大学、郑州大学第一附属医院共同建 设，精准对接临床需求开展关键核心技术攻关，为推动我国脑机接口康复设备产业发展注入强劲动力。 ...

Core Viewpoint - The accessibility industry is emerging as a significant economic growth point in China, transitioning from a welfare-focused sector to a market-driven one, driven by the aging population and the increasing needs of disabled groups [1][2]. Group 1: Industry Definition and Service Objects - The accessibility industry aims to improve, compensate, or replace human functions for groups such as the disabled, elderly, patients, and pregnant women, enhancing their quality of life and promoting social inclusion [1][2]. Group 2: Current Development Status - The market size of China's accessibility industry is projected to grow from 78 billion yuan in 2020 to 140 billion yuan by 2025, with an expected increase to 163 billion yuan by 2026 [2]. Group 3: Industry Chain - The upstream of the accessibility industry includes raw materials like metals, plastics, and electronic components, while the midstream consists of software systems and hardware products, and the downstream applications are found in homes, public buildings, and rehabilitation institutions [3]. Group 4: Development History - The accessibility industry in China has undergone four stages: the embryonic stage (2001-2007), the regulatory stage (2008-2014), the smart transformation stage (2015-2023), and the service ecosystem stage (2024-present) [3]. Group 5: Policy Environment - Recent national policies, such as the "Barrier-Free Environment Construction Law," have established a legal framework for the development of the accessibility industry, enhancing the construction of urban accessibility facilities [4]. Group 6: Competitive Landscape - Major companies in the accessibility software sector include iFlytek, SenseTime, and Tencent, while hardware companies include Yuyue Medical, Kefu Medical, and Shanghai Construction Group, among others [5][6]. - Kefu Medical reported a revenue of 1.496 billion yuan in the first half of 2025, with rehabilitation aids contributing 563 million yuan, accounting for 37.63% of total revenue [7][8]. - Yuyue Medical is a leading supplier of medical consumables, with a focus on rehabilitation care products, generating 234 million yuan in revenue from these products in the first half of 2025 [6]. Group 7: Future Development Trends - The accessibility industry is expected to expand significantly due to the aging population, with a shift from physical accessibility standards to digital, cultural, and social service areas, indicating a trend towards high-value software services and integrated solutions [9][10].

基金经理是一只基金产品最核心的成员，能决定一只基金的投资方向、投资策略以及投资风格，基金经理出色的择时选股 能力和调研预测能力是基金业绩的有力保证，所以基金经理是投资者在选择基金产品时的重要依据。基金经理的变动很大 程度上会影响到基金产品未来的表现，是一个需要特别关注的信息。1.22日共有16位基金经理发生任职变动。 根据巨灵统计的数据，近30天（12.23-1.22）共有595只基金产品的基金经理发生离职。其中今天（1.22）日有18只基金产 品发布基金经理离职公告，涉及8名基金经理。从变动原因上来看，有5位基金经理是由于工作变动而从管理的7只基金产品 中离职。有1位基金经理是由于产品到期而从管理的1只基金产品中离职。有1位基金经理是由于辞职而从管理的2只基金产 品中离职。有1位基金经理是由于个人原因而从管理的8只基金产品中离职。 | | | 基金代码 | 公告日期 | | | | | --- | --- | --- | --- | --- | --- | --- | | ■開切/し | | 005607 | 2026/1/22 | 20: | | | | | 华宝中证500增强C | 005608 | 2 ...

Group 1 - Institutional research activity decreased this week, with a reduction in the number of companies being surveyed, but top stocks received increased attention [1] - Xiangyu Medical (688626) was favored by 208 institutions, focusing on rehabilitation medical devices, with strong growth potential driven by aging population and health awareness [1] - The company has a solid capital structure rated BBB, indicating better financial stability compared to most listed companies, but faces challenges in operational efficiency and asset quality [1] Group 2 - SWOT analysis for Xiangyu Medical shows strengths in capital structure, but weaknesses in operational efficiency and scale, with significant room for improvement in multiple dimensions [2][3] - Opportunities exist for Xiangyu Medical to enhance operational efficiency and scale, with potential growth in market channels and cost control [2] - Threats include a notable decline in core capabilities, particularly in operational efficiency and profitability, indicating increased operational pressure [3] Group 3 - Lio Group (002131) was surveyed by 40 institutions, focusing on its dual business model of mechanical manufacturing and digital marketing, with strong interest in its growth potential in emerging sectors [5] - The company has strong scale strength rated AA, indicating significant competitive advantages, but faces challenges in cash flow and debt repayment capabilities [6] - SWOT analysis reveals Lio Group's strengths in asset quality and scale, but weaknesses in cash flow and development capabilities, with opportunities for improvement in emerging markets [7][8] Group 4 - Weichuang Electric (688698) was the subject of a survey by 35 institutions, focusing on its core products in industrial automation and its competitive advantages in the market [10] - The company has strong profitability and asset quality ratings, but faces challenges in cash flow and debt repayment capabilities [11] - SWOT analysis indicates strengths in profitability and operational efficiency, but weaknesses in cash flow and capital structure, with opportunities for growth in high-demand sectors [12][13] Group 5 - Light Optoelectronics (688150) was surveyed by 34 institutions, focusing on its core products in OLED materials and its competitive position in the market [15] - The company has strong debt repayment capabilities and a solid capital structure, but faces challenges in scale and operational efficiency [16] - SWOT analysis shows strengths in financial stability and profitability, but weaknesses in scale and operational efficiency, with significant opportunities for growth in emerging markets [17][18] Group 6 - Yunnan Ge Industry (002428) was surveyed by 32 institutions, focusing on its complete germanium industry chain and its strategic position in the market [20] - The company has a strong development capability rating, but faces significant challenges in cash flow, profitability, and operational efficiency [21] - SWOT analysis indicates strengths in development capability, but weaknesses in scale and financial stability, with opportunities for growth in commercial aerospace and semiconductor sectors [22][23]

Core Insights - The article highlights the advancements in brain-computer interface (BCI) technology, particularly in rehabilitation medical devices, as demonstrated by Xiangyu Medical in Anyang, Henan province [1][2]. Company Overview - Xiangyu Medical is a leading enterprise in China's rehabilitation medical device industry, focusing on integrating cutting-edge technologies like BCI into their products [1]. - The company has successfully adapted 27 rehabilitation devices to BCI technology as of December 31, 2025, with a goal to reach nearly 100 devices by the end of 2026 [3]. Technology and Innovation - The BCI technology showcased includes non-invasive methods that convert brain signals into device commands, allowing users to control rehabilitation equipment through thought alone [1][2]. - The company emphasizes the safety and convenience of non-invasive BCI compared to invasive methods, which require surgical implantation and carry higher risks and costs [2]. Industry Context - The domestic BCI industry is experiencing rapid technological advancements and expanding application scenarios, with both invasive and non-invasive approaches being developed [2]. - Xiangyu Medical collaborates with 62 upstream and downstream companies within the rehabilitation equipment industry park in Neihuang County, creating a comprehensive industrial chain that supports research, manufacturing, and service [3]. Future Goals - The company aims to establish a complete brain-controlled rehabilitation ecosystem by integrating mainstream rehabilitation devices with BCI technology over the next five years [3]. - Xiangyu Medical is committed to accelerating the clinical application of BCI products to benefit patients, leveraging its extensive experience in industry-academia-research collaboration [3].

Core Insights - The article highlights the advancements in brain-computer interface (BCI) technology, particularly in rehabilitation medical devices, as demonstrated by Xiangyu Medical Equipment Co., Ltd. [1][2] Company Overview - Xiangyu Medical is a leading enterprise in China's rehabilitation medical device industry, focusing on innovative technologies such as brain-computer interfaces [1]. - The company has successfully adapted 27 rehabilitation devices to BCI technology as of December 31, 2025, with a goal to achieve nearly 100 BCI-enabled rehabilitation devices by the end of 2026 [3]. Technology Development - The BCI industry in China is experiencing rapid technological iteration and expanding application scenarios, with both invasive and non-invasive technologies being developed [2]. - Non-invasive BCI technology, which uses devices like EEG caps to collect brain signals, is considered safer and more convenient for large-scale promotion in rehabilitation and health management [2]. Industry Collaboration - Xiangyu Medical collaborates with 62 upstream and downstream companies within the rehabilitation equipment industrial park in Neihuang County, creating a complete industrial chain that includes research, manufacturing, and service [3]. - The company aims to accelerate the transformation of innovative results into clinical applications through collaborative innovation and established market channels [3].

脑机接口市场发展情况如何？未来的产业发展方向是什么？翔宇医疗如何紧抓市场机遇？带着这些问 题，《证券日报》记者走进翔宇医疗，与公司董事长何永正展开探讨与交流。 脑机接口赋能主动康复 脑机接口作为康复领域的创新技术，正引领着康复行业从"被动康复"转向"主动康复"。该技术通过实时 捕捉脑电信号并解码，驱动外部设备对大脑进行针对性刺激，形成"感知－响应－强化"的神经发育闭 环，让康复训练更高效、更精准。 本报记者 肖艳青 作为连接大脑与外部设备的颠覆性技术，脑机接口正被全球科技界视为重构人机交互范式的核心方向。 在政策支持、技术突破与资本涌入等多重因素驱动下，脑机接口产业发展提速，应用前景已从医疗康复 延伸至消费电子等多元场景，展现出巨大的市场潜力。 河南翔宇医疗设备股份有限公司（以下简称"翔宇医疗"）凭借在康复医疗领域的技术积淀，自2015年起 便开始布局脑机接口及类脑研究。目前该公司率先实现脑机接口技术的临床转化，相关产品已进入国内 超600家三级甲等医院，覆盖神经康复、运动功能重建等核心领域，成为国内脑机接口医疗应用的领军 企业。 "主动康复效果强于被动康复。"何永正表示，"脑机接口技术是一种让大脑持续深度参 ...

Core Viewpoint - The medical device sector experienced a rise of 0.54% on January 21, with N Aisheren leading the gains, while the Shanghai Composite Index increased by 0.08% and the Shenzhen Component Index rose by 0.7% [1] Group 1: Stock Performance - N Aisheren (code: 920050) closed at 44.04, with a remarkable increase of 175.59% and a trading volume of 141,600 shares [1] - Tianzhihang (code: 688277) saw a rise of 12.38%, closing at 23.88 with a trading volume of 376,500 shares [1] - Xishan Technology (code: 688576) increased by 11.18%, closing at 76.80 with a trading volume of 34,000 shares [1] - Kangzhong Medical (code: 688607) rose by 10.91%, closing at 59.67 with a trading volume of 76,200 shares [1] - Shuoshi Biological (code: 6658889) increased by 9.74%, closing at 84.84 with a trading volume of 70,300 shares [1] Group 2: Capital Flow - The medical device sector saw a net inflow of 300 million yuan from institutional investors, while retail investors experienced a net outflow of 430 million yuan [2] - Major stocks like Sainuo Medical (code: 688108) had a net inflow of 69.18 million yuan from institutional investors, but a net outflow of 44.76 million yuan from retail investors [3] - LePu Medical (code: 300003) had a net inflow of 48.54 million yuan from institutional investors, with a slight net inflow of 0.52 million yuan from retail investors [3]