证券代码：300753 证券简称：爱朋医疗 江苏爱朋医疗科技股份有限公司 投资者关系活动记录表 编号：2026-002 | | 特定对象调研 分析师会议 | | | | --- | --- | --- | --- | | 投资者关系活动 类别 | 媒体采访 业绩说明会 | | | | | 新闻发布会 路演活动 | | | | | 现场参观 | | | | | 其他（电话会议） | | | | 参与单位名称及 | 中信建投证券，兴业证券，国联民生证券，华创证券，国新证券，国 元证券，上海证券，华龙证券，国泰基金，南方基金，西部利得基金， 工银瑞信基金，汇添富基金，兴全基金，农银汇理基金，中欧基金， | | | | | 中银基金，富国基金，建信基金，建信资产，永赢基金，南华基金， | | | | | 华宝自营，中国人寿养老保险，华鑫信托，交银康联人寿，中信期货， | | | | 人员姓名 | 国泰海通资管，浙商资管，华创证券资管，国源信达资管，易鑫安资 | | | | | 管，鲸域资管，健顺投资，草木资本，友山基金，上海古曲基金，北 | | | | | 京沣沛投资，正圆投资，景泰利丰投资，杭州乾璐 ...

Core Viewpoint - The brain-computer interface (BCI) sector in the A-share market has shown significant activity at the beginning of 2026, with a cumulative increase of 18.04% in the BCI theme index as of January 16, 2026, indicating a strong interest and potential for commercialization in this emerging industry [2][4]. Industry Overview - The BCI industry is projected to reach a market size of trillions, transitioning from laboratory research to commercial applications, driven by advancements in technology and supportive government policies [3]. - The Ministry of Industry and Information Technology and other departments have emphasized the importance of BCI in their strategic plans, including its inclusion in the "14th Five-Year Plan" for future industrial development [3]. Market Performance - As of January 16, 2026, the total market capitalization of 26 listed companies in the BCI sector has increased by approximately 108.7 billion yuan over ten trading days [8]. - Notable companies like Innovation Medical and Meihua Medical have experienced significant stock price fluctuations, reflecting the volatile nature of the market and investor sentiment towards BCI technologies [5][7]. Company Developments - Innovation Medical's subsidiary, Boling Brain Machine Technology, has launched products aimed at rehabilitation for stroke patients, although it reported operating losses of 6.6 million yuan and 8.66 million yuan in 2023 and 2024, respectively [6]. - Meihua Medical, a leader in cochlear implants, is actively collaborating with BCI clients to facilitate the transition from laboratory research to commercial production, highlighting the interconnectedness of BCI and existing medical technologies [7]. Strategic Collaborations - Companies like Yahui Long and Shenzhen Brain Machine Star Chain Technology have entered strategic partnerships to develop BCI-related products, aiming to enhance diagnostic and treatment capabilities in central nervous system diseases [9]. - Aipeng Medical is also expanding its business into BCI applications, focusing on pain management and sleep disorders, indicating a broader trend of diversification within the medical device sector [9]. Technical Insights - The core technological barriers in the BCI industry are concentrated in the upstream supply chain, including hardware components and surgical techniques, with significant potential for growth in domestic market penetration and localization [10].

Summary of Aipeng Medical Conference Call Company Overview - Aipeng Medical focuses on the commercialization of non-invasive brain-computer interfaces, particularly in intraoperative anesthesia monitoring, achieving over 10 million yuan in revenue. However, progress has been hindered by medical cost control measures, prompting the company to actively explore new applications [2][6]. Key Points and Arguments Revenue Projections - The company anticipates that new applications targeting treatment systems for refractory insomnia and multimodal ADHD could generate tens of millions of yuan in revenue by 2026, with 2027 potentially marking a turning point in performance, contingent on a solid commercialization foundation in hospitals [2][6]. Product Offerings and Market Penetration - Aipeng Medical's perioperative brain state monitoring product is available in approximately 20 provinces, charging around 300 yuan per session, and is not covered by medical insurance. Similar models are used for the refractory insomnia and pediatric ADHD treatment systems [2][7]. - The intraoperative anesthesia monitoring product has been adopted in over 100 hospitals, with a target of exceeding 200 by 2026. The refractory insomnia treatment system has partnered with two hospitals, while the pediatric ADHD treatment aims to cover the top 100 pediatric clinics in China [2][8]. Research and Development - A semi-invasive epilepsy warning product is in the prototype research phase, expected to have a prototype by the end of 2026 and enter animal clinical trials in 2027, collaborating with research institutions [2][9]. Strategic Partnerships - Aipeng Medical holds a stake in Ruishen An, a company focused on implantable neurostimulation devices, which has received 15 product certifications and is projected to exceed 100 million yuan in revenue by 2025, ranking among the top three to four in the domestic neurostimulation field [4][11]. Competitive Landscape - The company differentiates its strategy by focusing on pain, anesthesia, sleep, and attention disorders, contrasting with competitors that emphasize rehabilitation or motor imagery. Aipeng Medical plans to accumulate clinical validation through hospital channels before gradually promoting products to the consumer market [5][13]. - Non-invasive and semi-invasive brain-computer interface technologies each have their advantages. Non-invasive products are expected to commercialize rapidly within 2-3 years, while semi-invasive and fully implanted devices will become significant as technology advances and costs decrease [5][14]. Future Outlook - Aipeng Medical aims to enhance its stake in Ruishen An through share transfers, with expectations of results in the first half of the year, despite lengthy processes for state-owned capital exits [4][12]. - The company expects gradual recovery and stable growth in its pain management business by 2026, despite initial impacts from centralized procurement policies. The nasal care business faces challenges but is anticipated to rebound as the economy improves [15]. Additional Important Information - The company’s non-invasive products are currently not covered by medical insurance, which affects their market penetration and pricing strategy [7]. - Aipeng Medical's approach emphasizes building strong clinical data and partnerships with hospitals to establish a competitive edge in the medical field [14].

Core Insights - The A-share market has seen increased activity and emerging themes following the "opening red" in 2026, with a shift in broker research focus towards AI applications and brain-computer interfaces (BCI) [1][2] Group 1: Broker Research Trends - Broker research is increasingly focusing on high-growth industries, performance certainty, and valuation attractiveness, reflecting three major trends: a balanced investment style, a shift from speculative trading to performance realization, and a focus on domestic self-sufficiency and global competitiveness [2][7] - From January 1 to January 14, 2026, over 260 A-share companies were researched by institutions, with more than 230 receiving broker attention, highlighting a strong interest in companies like 壹网壹创, 成都先导, and 翔宇医疗 [3][4] Group 2: Key Companies and Their Focus - 壹网壹创, a leading company in the GEO concept, received attention from 27 brokers, focusing on its R&D investments and partnerships with platforms like Alibaba [4][5] - Other notable companies include 凯盛科技 and 海天瑞声, which received 22 and 21 broker inquiries respectively, with a focus on technological innovation in their respective fields [4] - Companies like 爱朋医疗, 中集集团, and 振江股份 also garnered significant broker interest, indicating a diverse range of sectors being explored [4] Group 3: Market Performance and Investment Opportunities - The AI application index and GEO index saw increases of 18.30% and 44.14% respectively from January 5 to January 15, 2026, indicating strong market interest in these sectors [8] - The global GEO market is projected to reach $24 billion by 2026 and $100 billion by 2030, with domestic expectations of reaching 11.1 billion yuan in 2026 [10] - Investment opportunities are emerging in the AI marketing sector, with a focus on companies that can leverage marketing technology and content creation [10][11] Group 4: Brain-Computer Interface (BCI) Insights - The BCI sector is expected to see significant growth, with applications in various fields such as healthcare and consumer products, driven by technological advancements and diverse application scenarios [12][13] - The global BCI market is projected to reach $7.63 billion by 2029, highlighting the potential for substantial investment opportunities in this emerging field [13]

【编者按】因地制宜发展新质生产力，是江苏推动高质量发展的核心战略路径。作为全国制造业集群规模最大的 省份，江苏以科技创新为引擎，统筹推进传统产业升级、新兴产业壮大、未来产业培育。为生动讲述新质生产力 在江苏从"概念"到"遍地开花"的精彩故事，央广网江苏频道策划推出融媒体专栏《你好，新质造》。本期，我们 走进江苏爱朋医疗科技股份有限公司（以下简称"爱朋医疗"），看爱朋医疗如何推进数字化和智能化转型，实现 数据驱动下的持续改进与精益制造。 全自动灌装产线飞速运转，物料精准流转灌装；试喷环节智能视觉质检探头敏锐测量……高效顺畅的生产体系背 后，是爱朋医疗倾力打造的智能"神经中枢"。 近年来，爱朋医疗在发展新质生产力的过程中，更关注数智化与实际业务的匹配度，通过夯实系统底座、贯通业 务全流程、聚焦关键场景的"软硬结合"等举措，让生产更透明，实现效率与质量的双赢。公司也先后获得国家级 专精特新"小巨人"企业、国家级知识产权优势企业、2025年江苏省先进级智能工厂等荣誉。 "以前生产过程和质量检测更多是依赖人工操作和经验复核，效率低且存在经验性偏差。"爱朋医疗信息化高级总 监吴玲玲说，随着公司各数字化项目落地，通过设备智 ...

Macro Economy - The Ministry of Industry and Information Technology (MIIT) issued an action plan for the high-quality development of industrial internet platforms from 2026 to 2028, aiming to have over 450 influential platforms and more than 120 million industrial devices connected by 2028, with a platform penetration rate exceeding 55% [2] - MIIT held the 18th manufacturing enterprise symposium, emphasizing active participation in industry rule-making and self-regulation to promote a win-win environment and protect industry development [2] Investment News - On January 13, A-shares experienced a collective pullback, with the Shanghai Composite Index ending a 17-day winning streak, closing down 0.64%. The total trading volume in Shanghai, Shenzhen, and Beijing reached 3.7 trillion, setting a new historical record [5] - The Hang Seng Index rose by 0.9%, with the Hang Seng Technology Index increasing by 0.11%. Pharmaceutical stocks performed well, with WuXi AppTec rising over 8% and WuXi Biologics nearly 6%. The H-share listing of Zhaoyi Innovation saw a peak increase of over 53% on its first day, closing with a 37.53% rise, valuing the company at 155.2 billion HKD [5] - As of January 12, the management scale of ETF products under Huaxia Fund officially surpassed 1 trillion RMB, reaching 1,016.424 billion RMB, making it the first domestic ETF manager to enter the "trillion club" [5] - Approximately 130 A-share listed companies have disclosed their 2025 performance forecasts, with around 70 companies expecting positive results, including profit increases and recoveries [5] - A total of 186 listed companies have been subject to concentrated research by public funds and brokerages, with the number of research instances reaching 220, indicating strong interest in popular stocks like Aipeng Medical and Entropy Technology [5] Company Movements - Guizhou Moutai is establishing a dynamic adjustment mechanism for retail prices based on market orientation, aiming for a "market-following, relatively stable" self-operated system [6] - The "Dead or Alive APP" will officially adopt the global brand name Demumu in its upcoming new version [7] - Alibaba Cloud has completed further strategic investment in ZStack, achieving a controlling stake, and plans to create a standardized and inclusive cloud-edge integrated solution [7] - DeepSeek published a new paper on conditional memory for large language models, co-authored with Peking University [7] - Huaxia Happiness expects a net loss of 16 billion to 24 billion RMB in 2025, with potential delisting risk warnings for its stock [8] - Zhongwen Online anticipates a net loss of 580 million to 700 million RMB in 2025, as its overseas short drama business is still in the investment phase [8] - Luxshare Precision has terminated its acquisition of the business asset package held by India's Wingtech [8]

Group 1 - A total of 177 companies were investigated by institutions in the past five trading days, with Aipeng Medical, Chaojie Co., and Yiwan Yichuang being the most frequently researched [1] - Securities companies participated in 85.31% of the listed company investigations, with 151 companies being surveyed [1] - Aipeng Medical received the highest attention with 142 institutions participating in its investigation, followed by Chaojie Co. with 121 institutions [1] Group 2 - Among the companies investigated by more than 20 institutions, 21 stocks experienced net capital inflows in the past five days, with Guojijiangong seeing a net inflow of 498 million yuan [1] - The stocks that saw the highest price increases included Taisheng Wind Energy, Chengdu Xian Dao, and Yiwan Yichuang, with increases of 60.53%, 41.55%, and 41.35% respectively [2] - The most frequently investigated companies included Chaojie Co., Binglun Environment, and Boying Tehan, each being investigated four times [1][2] Group 3 - The investigation data shows that 34 stocks among those researched rose in price, while only 3 stocks saw declines [2] - The highest price increase among the stocks investigated was 60.53% for Taisheng Wind Energy, while the largest decline was 8.93% for Huicheng Environmental [2] - The investigation frequency and capital inflow data suggest a strong interest from institutions in specific sectors, particularly in medical and automotive industries [1][2]

Market Performance - The ChiNext Index rose by 1.82%, closing at 3388.34 points, with a total trading volume of 1,096.22 billion yuan, an increase of 217.32 billion yuan compared to the previous trading day [1] - Among the tradable ChiNext stocks, 1,142 stocks closed higher, with 106 stocks rising over 10%, including Fushi Holdings, BlueFocus Communication Group, and Tuorisi, which hit the daily limit [1] - The average turnover rate for the ChiNext today was 7.76%, with 102 stocks having a turnover rate exceeding 20% [1] High Turnover Stocks - In the high turnover stocks, 93 stocks increased in value today, with notable gainers including Fushi Holdings, BlueFocus Communication Group, and Tuorisi [2] - The computer industry had the highest number of stocks with a turnover rate exceeding 20%, totaling 22 stocks, followed by the defense and electronics sectors with 14 and 11 stocks, respectively [2] Institutional Activity - A total of 18 high turnover ChiNext stocks appeared on the Dragon and Tiger List, with 17 stocks showing institutional participation [3] - Tianlong Group had five institutional seats with a net purchase of 44.47 million yuan, while Aipeng Medical also had five institutional seats with a net purchase of 44.41 million yuan [3] Capital Flow - Among high turnover stocks, 70 stocks experienced net inflows of main funds, with the highest inflows seen in Daoshi Technology, Hand Information, and Tuorisi, amounting to 859 million yuan, 828 million yuan, and 781 million yuan, respectively [4] - Conversely, the stocks with the largest net outflows included Qian Zhao Optoelectronics, Shanghai Hanxun, and Defu Technology, with outflows of 1.373 billion yuan, 631 million yuan, and 382 million yuan, respectively [4] Earnings Forecasts - Five high turnover stocks released earnings forecasts for the full year of 2025, with four stocks expecting profit increases [4] - The stock with the highest expected net profit growth is Puni Testing, with a median expected net profit of -225 million yuan, representing a year-on-year increase of 36.86% [4]

12日，A股全线飙升，沪指午后涨超1%，创业板指涨近2%，北证50指数大涨超5%；港股亦走高，恒生 指数涨超1%，恒生科技指数涨超3%。 具体来看，两市股指早盘震荡上扬，午后再度攀升，沪指涨超1%，续创逾10年新高；创业板指逼近 3400点，创4年新高。截至收盘，沪指涨1.09%报4165.29点，续创逾10年新高；深证成指、创业板指涨 近2%，北证50指数涨5.35%，沪深北三市合计成交约3.64万亿元，突破前期高点，创历史新纪录。 全A超4100股飘红，逾200股涨停。AI应用概念集体爆发，万兴科技（300624）、海天瑞声、昆仑万维 （300418）等涨停，星环科技尾盘亦涨停续创新高；商业航天概念热度不减，邵阳液压（301079）4日 大涨超100%，创历史新高；天力复合、铂力特、理工导航等均创新高；脑机接口概念午后拉升，道氏 技术（300409）20%涨停，倍益康、爱朋医疗（300753）等涨超10%。此外，16倍大牛股天普股份 （605255）复牌跌停。 脑机接口概念活跃 脑机接口概念盘中强势拉升，截至收盘，道氏技术20%涨停，创历史新高，熵基科技（301330）涨超 17%亦创新高，倍益康、爱朋医 ...

Group 1 - The A-share market saw a strong performance in brain-computer interface concept stocks, with several companies approaching or hitting their daily limit up [1] - Notable gainers included Entropy Technology, which approached a 20% limit up, and Dao's Technology and Yingkang Life, both rising over 13% [1] - Other significant performers included Tom Cat, which increased by over 10%, and Yanshan Technology, which hit a 10% limit up [1] Group 2 - The table lists various companies with their respective stock codes, percentage increase, total market capitalization, and year-to-date performance [2] - Entropy Technology (301330) had a 19.40% increase, with a market cap of 11.7 billion and a year-to-date increase of 50.11% [2] - Dao's Technology (300409) rose by 13.91%, with a market cap of 25.9 billion and a year-to-date increase of 47.49% [2] - Yingkang Life (300143) increased by 13.01%, with a market cap of 10 billion and a year-to-date increase of 35.43% [2] - Other companies like Tom Cat (300459) and Yanshan Technology (002195) also showed significant gains, with year-to-date increases of 29.63% and 60.65% respectively [2]