Core Viewpoint - Xianjian Technology (01302) has seen a nearly 5% increase in stock price following the announcement of its innovative medical device entering a special review process by the National Medical Products Administration of China [1] Group 1: Product Development - The company announced that its Concave Supra integrated arch three-branch reconstruction system (CSTM stent system) has entered the special review process for innovative medical devices by the National Medical Products Administration [1] - This product is designed for minimally invasive treatment of complex aortic arch aneurysms and penetrating ulcers, representing a global first in providing a no-brain ischemia integrated solution for arch three-branch reconstruction [1] - The company holds independent intellectual property rights for this product, which has successfully completed multiple clinical implants in Germany, Switzerland, Greece, and Hong Kong, receiving high recognition from international clinical experts [1] Group 2: Market Impact - The entry of the product into the special review process is expected to shorten the registration timeline, thereby accelerating its market launch [1] - The company anticipates that further evidence from clinical studies will confirm the safety and effectiveness of the product [1]

Trading Information Summary - On January 13, 2026, Innovation Medical (002173) closed at 35.11 yuan, down 5.08%, with a trading volume of 1.54 billion yuan [1][3] - Over the past 10 trading days, the main funds have seen a cumulative net outflow of 1.93 billion yuan, while the stock price has increased by 62.62% during the same period [1][3] Fund Flow Analysis - On January 13, 2026, the main funds experienced a net outflow of 1.26 billion yuan, while retail investors saw a net inflow of 1.85 billion yuan [1][3] Company Announcement Summary - Innovation Medical issued an announcement regarding abnormal trading fluctuations due to a cumulative price deviation exceeding 20% over three consecutive trading days [1][3] - The company confirmed that there were no undisclosed significant matters and that its production and operational conditions remain stable [1] - The subsidiary, Bole Brain Machine, has launched brain-machine interface products, but it is currently facing operational losses [1][3]

Group 1 - WuXi AppTec (药明康德) is a leading global pharmaceutical R&D outsourcing company with a comprehensive layout in AI healthcare, integrating AI technology throughout the drug development process [1] - The AI drug discovery platform developed by WuXi AppTec utilizes machine learning to analyze vast compound data, significantly shortening the early development cycle of small molecules and biologics [1] - The platform has been applied in new drug development projects for oncology and neurodegenerative diseases [1] Group 2 - Aier Eye Hospital (爱尔眼科) is a leading domestic eye care chain focusing on the intelligent upgrade of the entire eye diagnosis and treatment process through AI [2] - The AI fundus screening system developed by Aier can accurately identify common eye diseases with an accuracy rate exceeding 95%, implemented in over a thousand grassroots eye clinics and health check centers nationwide [2] - The company also utilizes AI technology to create personalized correction plans for myopia patients and enhance the precision and safety of surgeries [2] Group 3 - Kanglong Chemical (康龙化成) is a core player in the domestic pharmaceutical R&D outsourcing sector, leveraging AI technology to enhance R&D service efficiency [3] - The AI drug development platform integrates molecular simulation and machine learning, reducing compound screening cycles from months to weeks [3] - AI is also used to construct disease models and simulate drug metabolism processes, improving data accuracy and reducing animal usage [3] Group 4 - Tigermed (泰格医药) is a leading clinical trial CRO in China, focusing on the intelligent transformation of the entire clinical trial process through AI [4] - The AI clinical trial management system enables intelligent project initiation, patient recruitment, and data management, improving recruitment efficiency by over 30% [4] - AI algorithms are employed for real-time monitoring of clinical trial data, providing precise risk warnings and decision-making support for pharmaceutical companies [4] Group 5 - Kelaiying (凯莱英) is a global leader in the pharmaceutical CDMO sector, applying AI technology to enhance drug production and R&D [5] - AI algorithms are used to design optimal chemical synthesis pathways, reducing production costs and enhancing safety and yield [5] - The company has developed an AI drug R&D platform to predict the physicochemical properties and biological activity of compounds, aiding in the rapid selection of candidate drug molecules [5] Group 6 - Meinian Health (美年健康) is a leading health checkup company in China, with AI healthcare as a core driver for upgrading its services [6] - The AI intelligent health check system covers the entire process from appointment scheduling to health report interpretation, with AI imaging diagnosis achieving accuracy close to that of professional doctors [6] - The company integrates national health check big data to conduct chronic disease trend research, supporting public health decision-making [6] Group 7 - Zhaoyan New Drug (昭衍新药) is a leader in non-clinical safety evaluation of drugs, focusing on the intelligent upgrade of drug safety evaluation through AI [7] - The AI drug safety prediction platform integrates vast toxicology data and machine learning algorithms to predict potential toxicity of new drugs early [7] - AI technology is also used for intelligent monitoring of experimental animals, enhancing data accuracy and reliability [7] Group 8 - BGI Genomics (华大基因) is a leading global player in the field of gene sequencing, deeply integrating AI technology with gene sequencing [8] - AI algorithms are applied to analyze gene sequencing data, significantly improving the efficiency and accuracy of genetic disease diagnosis [8] - The company has developed a big data platform to support precision medicine and drug development through AI analysis of vast genetic data [8] Group 9 - Tongce Medical (通策医疗) is a leading domestic dental care chain focusing on the intelligent upgrade of dental diagnosis and treatment through AI [9] - The AI dental imaging diagnosis system can automatically analyze dental CT and panoramic images, assisting dentists in making accurate diagnoses [9] - The company also utilizes AI technology to optimize patient appointment and triage systems, enhancing patient flow and reducing wait times [9] Group 10 - Haoyuan Pharmaceutical (皓元医药) is a core player in the domestic pharmaceutical reagents and raw materials sector, focusing on intelligent upgrades in drug and reagent development through AI [10] - The AI molecular design platform significantly shortens the discovery cycle of lead compounds in drug development [10] - AI technology is also used to optimize inventory management, reducing costs and improving supply chain efficiency [10] Group 11 - Jiuzhou Pharmaceutical (九洲药业) is an important player in the domestic CDMO sector, focusing on the intelligent upgrade of drug production and R&D through AI [11] - AI algorithms are utilized to design optimal chemical synthesis pathways, enhancing yield and reducing production costs [11] - The company has developed an AI drug R&D platform to predict the biological activity and pharmacokinetic properties of compounds [11] Group 12 - KingMed Diagnostics (金域医学) is a leading third-party medical testing company in China, with AI healthcare applications throughout the testing process [12] - The AI data analysis system can automatically analyze vast testing data, quickly identifying abnormal indicators and generating reports [12] - The company also integrates national testing big data to conduct epidemiological research, supporting public health prevention efforts [12] Group 13 - Dian Diagnostics (迪安诊断) is a leading third-party medical diagnostic service provider, with AI healthcare as a core driver for enhancing diagnostic capabilities [13] - The AI diagnostic platform covers multiple fields, achieving over 90% accuracy in identifying tumor cells and infectious lesions [13] - AI technology is also used to optimize testing processes, improving laboratory throughput and efficiency [13] Group 14 - Chengdu XianDao (成都先导) is a leading new drug development company, deeply integrating AI technology with its core DNA-encoded compound library business [14] - AI algorithms are used to design DNA-encoded compound libraries, significantly improving screening efficiency and hit rates [14] - The company has developed a cloud computing platform for AI drug R&D, providing intelligent services to global pharmaceutical companies [14] Group 15 - Sanbo Brain Science (三博脑科) is a specialized medical service institution in the field of neurosurgery, with AI applications in both healthcare and brain-computer interface technology [15] - The AI neuroimaging diagnosis system can automatically analyze brain CT and MRI images, assisting in diagnosing neurological diseases [15] - The company collaborates with research institutions to conduct clinical studies on brain-computer interfaces, helping patients regain motor function [15] Group 16 - Innovation Medical (创新医疗) is a comprehensive medical service enterprise focusing on intelligent upgrades in rehabilitation and orthopedic diagnosis through AI [16] - The AI rehabilitation assessment system collects patient movement data to automatically evaluate rehabilitation effectiveness and adjust training plans [16] - AI technology is also used to analyze X-ray and CT images for orthopedic diagnosis, enhancing the precision of surgical planning [16]

Core Viewpoint - Kintor Pharmaceutical-B (2216.HK) experienced a nearly 10% increase in stock price, reaching HKD 2.65, with a total market capitalization of HKD 1.395 billion, following the announcement of its BroncTarget® system entering the special review process by the National Medical Products Administration of China [1][2]. Group 1 - The BroncTarget® system is a breakthrough interventional technology aimed at treating moderate to severe chronic obstructive pulmonary disease (COPD), designed to alleviate symptoms such as cough, sputum production, and breathing difficulties [1]. - The product has received recognition from the regulatory authority for its originality in core technology and significant clinical value [1]. - Confirmatory clinical trials for the BroncTarget® system are currently underway, with participant recruitment being conducted across 28 hospitals nationwide [1]. Group 2 - The stock price of Kintor Pharmaceutical-B rose by 9.96%, with a trading volume of 1.271 million shares and a total transaction value of HKD 3.2929 million on January 13 [2]. - The stock reached a high of HKD 2.70 and a low of HKD 2.43 during the trading session, with an average price of HKD 2.59 [2]. - The company has a total share capital of 527 million shares, with a market-to-book ratio of 1.108 [2].

Core Viewpoint - KPB Medical-B (2216.HK) shares rose nearly 10% to HKD 2.65, with a total market capitalization of HKD 1.395 billion, following the announcement that its BroncTarget® lung-targeted radiofrequency ablation system has entered the special review process by the National Medical Products Administration of China, indicating recognition of its original technology and clinical value [1] Company Summary - KPB Medical-B's BroncTarget® system is a breakthrough interventional technology aimed at treating moderate to severe chronic obstructive pulmonary disease (COPD), focusing on alleviating symptoms such as cough, sputum production, and breathing difficulties [1] - The confirmatory clinical trials for the BroncTarget® system are currently underway, with participant recruitment being conducted across 28 hospitals nationwide [1] Market Performance - The stock price of KPB Medical-B reached a high of HKD 2.70 and opened at HKD 2.50, with a trading volume of 1.271 million shares [1] - The stock experienced a price fluctuation of 11.20% and has a total share capital of 527 million [1]

Core Viewpoint - Kubo Medical-B (02216) shares rose nearly 10%, currently up 9.96% at HKD 2.65, with a trading volume of HKD 3.29 million [1] Group 1: Product Development and Regulatory Approvals - Kubo Medical announced that its BroncTarget lung-targeted radiofrequency ablation system has entered the special review process for innovative medical devices by the National Medical Products Administration of China, indicating recognition of its core technology originality and clinical value [1] - The confirmatory clinical trials for the BroncTarget system are currently underway, with 28 hospitals across the country actively recruiting participants [1] Group 2: Market Expansion and Product Launches - Kubo Medical's self-developed BroncAblate intelligent lung radiofrequency ablation system has received registration approval from the Hong Kong Department of Health, marking its commercial launch in Hong Kong as the world's first natural orifice radiofrequency ablation device for lung cancer intervention [1] - Concurrently, the FleXNeedleCN single-use endoscopic aspiration biopsy needle has also been registered by the Hong Kong Department of Health [1] - The BroncTru single-use bronchial dilation catheter has successfully obtained approval from the Indonesian Ministry of Health, marking a new breakthrough in the Southeast Asian market [1]

Core Viewpoint - KPB Medical-B (02216) has seen a nearly 10% increase in stock price, currently trading at 2.65 HKD, following the announcement of significant regulatory advancements for its medical devices [1] Group 1: Regulatory Approvals - KPB Medical announced that its BroncTarget® lung-targeted radiofrequency ablation system has entered the special review process by the National Medical Products Administration (NMPA) in China, indicating recognition of its core technology and clinical value [1] - The BroncTarget® system is currently undergoing confirmatory clinical trials, with 28 hospitals across the country actively recruiting participants [1] Group 2: Product Launches - The BroncAblate® Smart® lung radiofrequency ablation system has received registration approval from the Hong Kong Department of Health, marking its commercial launch as the world's first natural orifice radiofrequency ablation device for lung cancer [1] - The FleXNeedleCN single-use endoscopic aspiration biopsy needle has also been registered with the Hong Kong Department of Health [1] - The BroncTru® single-use bronchial dilation catheter has successfully obtained approval from the Indonesian Ministry of Health, marking a new breakthrough in the Southeast Asian market [1]

Group 1 - Weiteou signed a strategic cooperation agreement with Qiteng Robotics to focus on safety upgrades in high-risk industries, leveraging new materials and robotics [1] - Dongfang Caifu's subsidiary received approval from the CSRC to issue subordinate bonds totaling up to 20 billion yuan [2] - Haibo Zhongke's controlling shareholder plans to reduce holdings by up to 2.98% of the company's shares [3] Group 2 - Shengyang Technology's subsidiary FTA is expanding into the foreign satellite internet terminal business, which is still in the early commercialization stage [4] - Cangge Mining expects a net profit increase of 43.41%-53.1% for 2025, projecting a profit of 3.7-3.95 billion yuan [5] - Jinlongyu plans to invest approximately 1.2 billion yuan to build a production line for solid-state batteries with an annual capacity of 2 GWh [6] Group 3 - Shengda Resources intends to acquire a 55% stake in Guangxi Laibin Jinshi Mining for 269.5 million yuan [7] - Zhifei Biological's CA111 injection has entered Phase I clinical trials, targeting diabetes and weight loss treatment [8] - Qusleep Technology's specific shareholders plan to reduce their holdings by up to 2.58% of the company's shares [9] Group 4 - Innovation Medical's subsidiary has a product expected to generate revenue of 114,000 yuan in 2025 [11] - Blue Ocean Cursor noted that AI-driven revenue currently constitutes a small portion of overall revenue [12] - *ST Yanshi anticipates a loss for the 2025 fiscal year, with revenue expected to be below 300 million yuan [13] Group 5 - ST Yishite will lift risk warnings and change its stock name, resuming trading on January 14 [14] - Shaoyang Hydraulic clarified that its products do not directly serve commercial aerospace clients [15] - Boss Electric plans to invest 100 million yuan in Youte Smart Kitchen to deepen strategic cooperation [16] Group 6 - Guo An Da's controlling shareholder plans to reduce holdings by up to 3% of the company's shares [17] - *ST Mingjia has lifted the delisting risk warning following the completion of its restructuring plan [18] - Haixiang Pharmaceutical signed an innovative drug cooperation agreement with Wanbangde Pharmaceutical [19] Group 7 - Palm Holdings plans to transfer stakes in two project companies for debt compensation, amounting to 258 million yuan [20] - Bohai Leasing's subsidiary Avolon is projected to have a fleet of 1,132 aircraft by the end of 2025 [21] - Zhenyou Technology reported that satellite internet revenue accounted for approximately 7.15% of total revenue in the first three quarters of 2025 [22] Group 8 - Blue Arrow Electronics intends to acquire at least 51% of Chengdu Xinyi Technology [23] - Shunhao Co. stated that its investment in Tianshu Chuangxin will have a minimal impact on its 2025 performance [24][25] - Baichuan Co.'s deputy general manager plans to reduce holdings by up to 0.65% of the company's shares [26] Group 9 - Zhewen Interconnect reported that its GEO business has not yet formed a mature profit model [27] - XW Communication's controlling shareholder plans to reduce holdings by up to 1% of the company's shares [28] - Electric Science Digital indicated that its satellite communication products are not its main business [29] Group 10 - Bojun Technology expects a net profit increase of 35%-65% for 2025, projecting a profit of 828-1,012 million yuan [30] - Rongchang Bio signed a licensing agreement for the RC148 drug with AbbVie, with an initial payment of 650 million USD [31] - Guoxin Technology's state investment fund plans to reduce holdings by up to 2.37% of the company's shares [32] Group 11 - Hengxuan Technology's controlling shareholder plans to reduce holdings by up to 3% of the company's shares [33][34] - *ST Chengchang announced a stock suspension for investigation due to abnormal trading [35] - Zhongji Xuchuang's subsidiary plans to issue warrants to incentivize its core team [36] Group 12 - Zhuoshengwei expects a net loss of 255-295 million yuan for 2025 [37] - Pingtan Development anticipates a loss for the 2025 fiscal year [38] - Nanjing Bank's major shareholder increased its stake by 123.472 million shares [39] Group 13 - Jingao Technology expects a net loss of 4.5-4.8 billion yuan for 2025 [40] - Mingyang Smart plans to acquire control of Dehua Company, with stock suspension [41] - Vanadium Titanium Co. anticipates a loss for the 2025 fiscal year [42][43] Group 14 - Tianzhihang announced a delay in its "Smart Medical Center Construction Project" [44]

Core Insights - The brain-computer interface (BCI) industry in China is experiencing significant advancements, with clinical results emerging for high-level paraplegics and substantial funding rounds, including a recent 2 billion yuan investment in a non-invasive unicorn company, Strong Brain Technology, marking the second-largest funding record globally in this field [1][2] - The industry is poised for rapid commercialization, driven by technological breakthroughs, capital influx, and supportive policies, as it transitions from cutting-edge technology to practical applications in daily life [1][5] Technological Breakthroughs - Recent advancements in BCI technology include successful clinical trials for invasive systems, enabling high-level paraplegics to control smart wheelchairs and robotic dogs [2][3] - Companies like JieTi Medical and Chip Intelligence have made significant progress, with JieTi completing trials for its invasive BCI system and Chip Intelligence's semi-invasive product achieving human implantation [2][3] - The first clinical trial of a fully implanted, wireless BCI product by Brain Tiger Technology has shown promising results, allowing an 8-year paraplegic patient to achieve thought control just five days post-surgery [2][3] Policy and Capital Support - The BCI sector benefits from comprehensive policy support, including its designation as one of the six future industries in the 14th Five-Year Plan, which elevates it to a national strategic priority [5][6] - Recent initiatives by the Sichuan provincial medical insurance bureau have established pricing for 82 neuro-related medical services, including BCI applications, facilitating clinical adoption [5][6] - The establishment of industry standards by the National Medical Products Administration is expected to lower costs and risks associated with technology development and clinical application [6] Industry Collaboration and Investment - Companies like Baiyang Pharmaceutical are actively collaborating with academic institutions to explore the integration of BCI with artificial intelligence, aiming for innovative clinical solutions [7] - Other listed companies are also engaging in the BCI space through material supply and equipment development, indicating a strong interest from institutional investors [7] Future Development and Challenges - The BCI industry is anticipated to move towards standardization and scalability, with initial industry standards expected to be established by 2027-2028 [8] - Potential constraints include the pace of chip design and production, as well as the need for ethical regulations regarding personal brain data [8] - Despite these challenges, the domestic BCI industry holds significant advantages, including strong policy support, a vast clinical resource base, and a comprehensive supply chain [8] Investment Opportunities - The BCI sector presents a dual investment opportunity in both medical and technological domains, with short-term focus on disease treatment and long-term potential for enhancing human capabilities through integration with AI and robotics [9] - The industry is positioned to cultivate leading global BCI companies, fostering a capital-innovation synergy between primary and secondary markets [9]

Core Viewpoint - The stock of Innovation Medical Management Co., Ltd. has experienced abnormal trading fluctuations, with a cumulative closing price increase exceeding 20% over three consecutive trading days [2]. Group 1: Stock Trading Abnormalities - The company's stock (abbreviated as Innovation Medical, stock code: 002173) has shown a significant price deviation, qualifying it as an abnormal trading situation according to Shenzhen Stock Exchange regulations [2]. - The company has confirmed that there are no corrections or supplements needed for previously disclosed information [3][7]. Group 2: Company Verification and Operations - The company has verified with its controlling shareholders, actual controllers, directors, and senior management regarding the stock price fluctuations and found no undisclosed significant information affecting the stock price [3][4]. - There have been no major changes in the company's production and operational environment recently [4]. - The company and its controlling shareholders have not engaged in any stock trading during the period of abnormal fluctuations [6]. Group 3: Business Focus and Financial Performance - The company has noted increased market interest in its brain-computer interface business, particularly through its subsidiary, Boling Brain Machine (Hangzhou) Technology Co., Ltd., which was established in early 2021 and included in the consolidated financial statements in August 2025 [6]. - The main products are aimed at rehabilitation training for patients with cerebrovascular diseases, with the product "Cyberlink AC5" launched in October 2025 generating revenue of 114,000 yuan in that year [6]. - The company reported operating losses of 6.60 million yuan and 8.66 million yuan for the years 2023 and 2024, respectively [6].