风险提示：以上内容仅供参考，不构成任何投资建议。市场有风险，投资需谨慎。 截至2025年8月20日15时，创新医疗股价报23.05元，较前一交易日下跌1.79元。当日开盘价为24.48元， 最高触及25.43元，最低下探至22.70元，全天成交125.59万手，成交金额达29.68亿元。 创新医疗主营业务涵盖医疗服务领域，公司注册地位于浙江省。作为医疗行业的重要参与者，公司业务 涉及多项前沿医疗技术领域。从市场表现来看，该股当日振幅达到10.99%，显示出较高的市场波动 性。 从资金流向来看，创新医疗8月20日主力资金净流出5.87亿元，占流通市值的6.12%。近五个交易日累计 净流出资金达16.61亿元，占流通市值的17.31%。资金流向数据显示市场对该股存在一定的分歧。 来源：金融界 ...

金融界2025年8月20日消息，中银创新医疗混合A(007718) 最新净值2.2431元，下跌2.30%。该基金近1个 月收益率2.96%，同类排名3737|4049；近6个月收益率77.59%，同类排名28|3916；今年来收益率 86.41%，同类排名31|3882。 中银创新医疗混合A股票持仓前十占比合计62.83%，分别为：信达生物（8.33%）、科伦博泰生 （8.15%）、恒瑞医药（8.08%）、康方生物（8.07%）、新诺威（6.13%）、百利天恒（5.99%）、百济 神州-U（5.97%）、翰森制药（4.15%）、荣昌生物（4.05%）、康诺亚-B（3.91%）。 来源：金融界 公开资料显示，中银创新医疗混合A基金成立于2019年11月13日，截至2025年6月30日，中银创新医疗 混合A规模12.66亿元，基金经理为郑宁。 简历显示：郑宁先生:中国,研究生、硕士。曾任泰康资产管理有限责任公司股票研究经理、高级股票研 究经理;中庚基金管理有限公司研究员、高级研究员(医药组组长)。2022年加入中银基金管理有限公司。 2022年7月1日担任中银创新医疗混合型证券投资基金基金经理。2022年10月 ...

截至8月20日收盘，高压氧舱概念下跌0.68%，位居概念板块跌幅榜前列，板块内，创新医疗、盈康生 命、澳洋健康等跌幅居前，股价上涨的有7只，涨幅居前的有铁建重工、三星医疗、大湖股份等，分别 上涨4.29%、1.08%、0.89%。 今日涨跌幅居前的概念板块 资金面上看，今日高压氧舱概念板块获主力资金净流出4.44亿元，其中，6股获主力资金净流出，净流 出资金居首的是创新医疗，今日主力资金净流出5.37亿元，净流出资金居前的还有澳洋健康、大湖股 份、盈康生命等，主力资金分别净流出2254.11万元、1602.40万元、1020.68万元。今日主力资金净流入 居前的概念股有铁建重工、三星医疗、金陵药业等，主力资金分别净流入1.32亿元、1593.32万元、 553.33万元。（数据宝） 高压氧舱概念资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002173 | 创新医疗 | -7.21 | 30.17 | -53654.51 | | 002172 | 澳洋健康 | -0.23 | 5.1 ...

创新医疗今日下跌6.97%，全天换手率35.50%，成交额37.90亿元，振幅10.09%。龙虎榜数据显示，机构 净买入3979.92万元，营业部席位合计净卖出1.71亿元。 深交所公开信息显示，当日该股因日换手率达35.50%、日跌幅偏离值达-7.08%上榜，机构专用席位净买 入3979.92万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交9.52亿元，其中，买入成交额为4.10亿 元，卖出成交额为5.41亿元，合计净卖出1.31亿元。 具体来看，今日上榜的营业部中，共有4家机构专用席位现身，即买一、买二、买三、买四、卖一、卖 三、卖五，合计买入金额3.67亿元，卖出金额3.27亿元，合计净买入3979.92万元。 近半年该股累计上榜龙虎榜15次，上榜次日股价平均涨2.37%，上榜后5日平均涨12.58%。 资金流向方面，今日该股主力资金净流出5.27亿元，其中，特大单净流出3.48亿元，大单资金净流出 1.78亿元。近5日主力资金净流出9.59亿元。（数据宝） 创新医疗8月19日交易公开信息 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | - ...

[Table_Reportdate] 2025年08月18日 [table_invest] 超配 行 业 周 报 futing@longone.com.cn [table_stockTrend] -19% -8% 2% 13% 24% 34% 45% 24-08 24-11 25-02 25-05 申万行业指数:医药生物(0737) 沪深300 [相关研究 table_product] 1.政策再发力，建议关注脑机接口等 医疗器械投资机会——医药生物行 业周报（2025/08/04-2025/08/10） [Table_NewTitle 医保、商保初审名单公布，关注后续进 ] 展 ——医药生物行业周报（2025/08/11-2025/08/17） 投资要点： ➢ 市场表现： [证券分析师 Table_Authors] 杜永宏 S0630522040001 dyh@longone.com.cn 证券分析师 付婷 S0630525070003 上周（8月11日-8月15日）医药生物板块整体上涨3.08%，在申万31个行业中排第10 位，跑赢沪深300指数0.71个百分点。年初至今，医药生物板块整体上涨25.02% ...

Investment Rating - The report does not explicitly state an investment rating for the industry, but it indicates a positive trend in the pharmaceutical and biotechnology sector with a weekly increase of 3.08% [3][8]. Core Insights - The pharmaceutical and biotechnology sector outperformed the Wind All A index and the CSI 300 index during the week of August 11 to August 15, with notable gains in medical research outsourcing (7.77%), hospitals (5.59%), and medical consumables (4.47%) [3][8]. - The upcoming launch of the commercial insurance innovative drug directory is expected to activate the domestic high-end payment market for innovative drugs, with 121 drug names passing preliminary review [3][8]. - The World Conference on Lung Cancer (WCLC) will take place from September 6 to 9, showcasing significant research advancements in lung cancer, with domestic research playing an increasingly important role [3][8]. Market Weekly Review - The pharmaceutical and biotechnology sector rose by 3.08%, outperforming the Wind All A index (2.95%) and the CSI 300 index (2.37%) [3][8]. - Medical research outsourcing, hospitals, and medical consumables led the sector's gains, while offline pharmacies, blood products, and medical circulation experienced declines [3][8]. - Notable individual stock performances included Sino Medical (69.1%), Innovation Medical (51.5%), and Guangsheng Tang (40.7%) for gains, while *ST Suwu (-16.8%), ST Sansheng (-15.2%), and Nanhua Biological (-14.2%) faced significant losses [3][11]. Industry News and Key Company Announcements - The National Medical Insurance Administration announced the preliminary review of the 2025 National Basic Medical Insurance drug directory and the commercial insurance innovative drug directory [3][13]. - Novo Nordisk received accelerated FDA approval for its therapy Wegovy for treating non-alcoholic steatohepatitis (NASH) [3][13]. - Yunnan Baiyao approved a full acquisition of An Guo Shi Ju Yao Tang Pharmaceutical Co., Ltd. for 660 million RMB to enhance its traditional Chinese medicine business [3][15]. - Insmed's DPP1 inhibitor Brensocatib received FDA approval for treating non-cystic fibrosis bronchiectasis [3][14].

Group 1 - As of August 15, 2025, Innovation Medical (002173) closed at 26.67 yuan, an increase of 7.02%, with a turnover rate of 42.25% and a trading volume of 1.7587 million hands, resulting in a transaction amount of 4.687 billion yuan [1][2] - On August 15, the fund flow for Innovation Medical showed a net outflow of 225 million yuan from institutional investors, while retail investors experienced a net inflow of 219 million yuan [2] - Innovation Medical (002173) appeared on the "Dragon and Tiger List" for the fifth time in the last five trading days due to a daily turnover rate reaching 20% [2]

8月15日晚间，云南白药（000538）发布公告称，公司全资子公司云南白药集团中药资源有限公司拟以6.6亿元现金收购安国市聚药堂药业有限公司（简 称"聚药堂"）100%股权。 云南白药是我国中药行业的龙头企业，2024年公司营收首次突破400亿元，净利润达到47.49亿元。截至8月15日收盘，该股A股市值为998.47亿元，年内累 计下跌4.71%。 聚药堂是一家专注于中药饮片、毒性中药饮片、直接口服中药饮片及配方颗粒生产销售的企业，具有持续稳定的盈利能力。聚药堂核心业务涵盖中药饮片 加工与配方颗粒的研发生产，拥有1567个饮片品种（4000余个品规），为饮片行业品类最齐全的企业之一，配方颗粒国标备案品种已达240个。聚药堂饮 片与配方颗粒生产规模位居全国前列：中药饮片满负荷年产能达2.5万吨，配方颗粒年产能达1500吨。 脑机接口概念龙头股持续走强 8月15日，创新医疗（002173）盘中触及涨停，股价创近9年来新高。截至收盘，该股涨7.07%，年内涨幅达到235.05%，最新A股市值逼近120亿元。 据科技日报，近日，科学家在脑机接口领域取得一项重要突破，他们首次识别并解码了与"内心言语"——人们脑海中的 ...

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing a speculative surge, with companies like Innovation Medical seeing significant stock price increases despite ongoing financial losses and unclear commercialization paths [1][2]. Company Summary - Innovation Medical's stock has risen sharply, achieving a price of 26.67 yuan per share after a series of trading days with price increases, indicating strong market interest [1]. - The company reported a revenue of 402 million yuan for the first half of 2025, a year-on-year decrease of 1.60%, and a net loss of 12.88 million yuan, continuing a trend of losses since 2019, totaling over 1.76 billion yuan in net losses from 2019 to 2024 [2][3]. - The financial struggles are attributed to losses in two of its hospital subsidiaries, with net losses of 681,000 yuan and 3.86 million yuan respectively [2]. - The significant stock price increase is largely driven by its subsidiary, Bole Brain Machine Technology, which focuses on BCI technology, although it has not yet launched any products [2][3]. - The company has seen insider selling during the stock price surge, with significant shares sold by major shareholders [3]. Industry Summary - The Chinese government has initiated policies to accelerate the BCI industry, setting goals for key technological breakthroughs by 2027 and international competitiveness by 2030 [4]. - Companies like Sainuo Medical have gained attention for receiving FDA breakthrough device designation, indicating potential for commercialization in the BCI space [5]. - The BCI sector is characterized by a lack of established market leaders, with emerging companies categorized into three types: technology pioneers, clinical transformation firms, and platform ecosystem companies [5].

Core Viewpoint - The article discusses the recent surge in stock prices of Innovate Medical, driven by the brain-computer interface (BCI) technology, while highlighting the disconnect between the industry's current stage and market expectations [2][4]. Group 1: Company Performance - In the first half of 2025, Innovate Medical reported revenue of 402 million yuan, a year-on-year decline of 1.60%, and a net loss of 12.88 million yuan [4]. - Since 2019, Innovate Medical has experienced continuous net profit losses, totaling over 1.76 billion yuan from 2019 to 2024 [4]. - The company attributed its reduced losses in the first half of 2025 to increased medical insurance reimbursements and decreased credit impairment losses, without disclosing specific reasons for the losses [5]. Group 2: Subsidiary Performance - Among the subsidiaries of Innovate Medical, two out of three reported losses, with Kanghua Hospital losing 681,000 yuan and Futen Hospital losing 3.86 million yuan [5]. - The significant driver behind Innovate Medical's stock price increase is its subsidiary, Boling Brain Machine (Hangzhou) Technology Co., which focuses on BCI technology but has not yet launched products commercially [5]. Group 3: Market Dynamics - The BCI sector is currently in the preclinical research or small-scale trial phase, with unclear commercialization paths, leading to deteriorating financial statements for many companies [2][4]. - The article notes that the A-share market has a high risk preference for "hard technology," resulting in a disconnect between fundamentals and stock prices, reflecting a forward pricing mechanism for cutting-edge technologies [2]. Group 4: Regulatory and Industry Developments - On August 7, 2025, the Ministry of Industry and Information Technology and six other departments issued a policy to accelerate the development of the BCI industry, setting goals for key technological breakthroughs by 2027 and international competitiveness by 2030 [8]. - The article highlights that there is currently no benchmark enterprise in the global BCI market, but three potential leaders are emerging: technology pioneers with core technologies, clinical transformation companies with FDA approvals, and platform ecosystem companies with open-source hardware [10][11].