Core Insights - Jiangsu Aipeng Medical Technology Co., Ltd. conducted a conference call with 13 institutions, including Cinda Securities and Southern Fund, to discuss its business and future strategies [1] Company Overview - Aipeng Medical focuses on medical devices, particularly in chronic pain management and upper airway management, while also expanding into brain-computer interface (BCI) innovations [1] - The company's BCI applications include perioperative brain state monitoring, treatment systems for refractory insomnia, and multi-modal ADHD behavior management systems [1] Product Development - In the non-invasive sector, Aipeng has developed a multi-modal ADHD behavior management system that connects data from hospital to home, utilizing scientific EEG monitoring and multi-modal interventions [2] - The company has launched an anesthesia treatment system for refractory insomnia and is in the preliminary research phase for an epilepsy warning platform [2] - Aipeng has established a partnership with Changzhou Ruishen'an, focusing on the development and production of neuro-regulation and intracranial electrode medical devices [2] Market Expansion - Hospitals in provinces such as Hubei, Zhejiang, and Guangdong have announced pricing for BCI medical services, facilitating clinical application [2] - The new generation ADM series anesthesia depth monitoring device has received three registration certificates and is now available for sale in over 20 provinces [2] - The refractory insomnia anesthesia treatment system has been implemented in hospitals for clinical treatment and promotion [2] Consumer Product Strategy - The refractory insomnia anesthesia treatment system and multi-modal ADHD behavior management system target both hospital and consumer markets [2] - The multi-modal ADHD behavior training products include UMind (hospital version) and SE (home version), initially promoted in serious medical settings before expanding to consumer markets [2] Data Infrastructure - The refractory insomnia anesthesia treatment system is designed to meet clinical needs, incorporating smart interaction between doctors and patients, and tracking clinical data [2] - The multi-modal ADHD behavior training system integrates multi-source data collection and analysis, collaborating with Fudan University Children's Hospital to enhance data infrastructure and clinical application [2] Research and Development - Aipeng is building a BCI technology application platform to advance clinical innovations in mental health diagnosis and treatment [2] - The company aims to enhance its R&D capabilities and strengthen collaborations with renowned universities and research institutions to promote technological innovation and industry integration [2]

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：2025-005 | | 特定对象调研 | | | | 分析师会议 | | --- | --- | --- | --- | --- | --- | | 投资者关系活动 | 媒体采访 | | | | 业绩说明会 | | 类别 | 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 | 信达证券胡琎心，信达证券王哲毓，南方基金王艺文，平安基金李清 斌，中银基金赵建忠，前海开源基金张安华，长盛基金洪靖怡，国联 | | | | | | 人员姓名 | 基金杜伟，中信资管魏巍，中信资管唐天，华夏久盈资管于海申，上 | | | | | | | 海东方证券资管江琦，太平资产管理赵洋等 人 13 | | | | | | 时间 | 2025 年 月 日 | 10 | 15 | 10:00-11:00 | | | 地点 | 网络电话会议 | | | | | | 上市公司接待人 | 董事会秘书叶俞飞先生，证券事务代表黄秀秀女 ...

证券日报网讯爱朋医疗（300753）10月14日在互动平台回答投资者提问时表示，公司疼痛管理业务的应 用场景覆盖术后镇痛、分娩镇痛、癌痛镇痛等疼痛管理领域。根据公司市场业务数据分析，公司目前分 娩镇痛业务的市占率约为40%~50%。 ...

Core Points - The Shanghai Composite Index is at 3906.88 points, above the six-month moving average, with a gain of 0.45% [1] - A total trading volume of A-shares reached 1,197.71 billion yuan today [1] - 158 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates from the six-month moving average include: - Aienju (11.21% deviation, latest price 21.46 yuan) [1] - Huifeng Diamond (8.50% deviation, latest price 31.92 yuan) [1] - Jiuan Medical (4.78% deviation, latest price 40.21 yuan) [1] - Other stocks that have just crossed the six-month moving average include: - Ningbo Energy, China National Heavy Duty Truck Group, and Tongda Shares [1] Trading Data - The trading data for stocks that broke the six-month moving average on October 14 includes: - Aienju: 13.85% increase, 18.54% turnover rate [1] - Huifeng Diamond: 15.53% increase, 14.22% turnover rate [1] - Jiuan Medical: 5.29% increase, 2.42% turnover rate [1] - Additional stocks with notable performance include: - Chutianlong (4.88% increase) and Daqian Ecology (5.04% increase) [1]

Investment Rating - The report suggests focusing on companies with "technical barriers + clinical landing" as the dual main lines for investment, recommending attention to medical scene integrators and leaders in invasive technology [4]. Core Insights - The brain-computer interface (BCI) industry is driven by both policy and technology, with a market expected to grow from $1.2 billion in 2019 to $2 billion in 2023, and projected to reach $7.63 billion by 2029, indicating a compound annual growth rate (CAGR) of 17.5% from 2024 to 2029 [3][24]. - The medical sector is currently the most mature application area for BCI, with 31 clinical trials planned in 2024 covering various diseases, and the integration of medical and consumer applications is expected to create a dual growth curve [3][54]. - The domestic industry chain is becoming more self-sufficient, with significant advancements in invasive BCI technologies, and several regions are expected to form industrial clusters [4][27]. Summary by Sections Industry Overview - BCI technology is a frontier field at the intersection of life sciences and information technology, creating interactive systems between the brain and external devices [14][16]. - The global BCI market is projected to grow significantly, with a forecasted market size of $7.63 billion by 2029, reflecting a CAGR of 17.5% from 2024 to 2029 [24][25]. - The industry is currently in a technology validation phase, with active investment activities, particularly in China, where over 200 financing events have occurred, totaling nearly $2 billion [27][29]. Policy Guidance - The Chinese government has issued several policies to support the BCI industry, aiming for technological breakthroughs by 2027 and the establishment of a robust industrial ecosystem by 2030 [42][43]. - The regulatory framework is evolving, with ongoing efforts to ensure safety, effectiveness, and ethical compliance in BCI technology [45][47]. Clinical Situation - Stroke is identified as the primary indication for BCI applications, with a significant patient population in need of rehabilitation solutions [54][59]. - The number of clinical trials related to BCI is increasing, with 31 trials registered in 2024, indicating a growing interest in the clinical potential of BCI technologies [65][66].

Group 1 - The core viewpoint of the news is the performance and market position of Aipeng Medical, which saw a stock price increase of 5.53% to 29.75 CNY per share, with a total market capitalization of 3.75 billion CNY [1] - Aipeng Medical specializes in the development, production, and sales of medical devices in the pain management and nasal care sectors, with revenue composition being 59.73% from pain management products, 29.40% from nasal and upper airway products, and 10.87% from other sources [1] - The company is located in the Jiangsu province and was established on October 30, 2001, with its listing date on December 13, 2018 [1] Group 2 - The North Trust Ruifeng Fund holds a significant position in Aipeng Medical, with its health lifestyle theme flexible allocation fund (001056) owning 120,000 shares, accounting for 4.43% of the fund's net value, ranking as the tenth largest holding [2] - The fund has achieved a year-to-date return of 27.84% and a one-year return of 60.98%, with a total fund size of 89.38 million CNY [2] - The fund manager, Pang Wenjie, has been in position for over 5 years, with the best fund return during his tenure being 44.46% [3]

Group 1 - The A-share market saw a significant decline in brain-computer interface concept stocks, with several companies experiencing drops of over 5% [1] - Notable companies that fell over 5% include Dineike, Xiangyu Medical, Meihao Medical, Chengdu Huamei, and Tom Cat [1] - Other companies such as Yanshan Technology, Zhongke Information, Aipeng Medical, Nanjing Panda, Weisi Medical, Innovation Medical, Robot, Mailande, Beiqingsong, Botuo Biological, and Rongtai Health dropped over 4% [1]

Core Viewpoint - The company has launched its next-generation ADM series anesthesia depth monitoring products, although revenue from these products is currently small [1] Group 1: Product Development - The multi-modal ADHD behavioral training system has recently obtained two medical device registration certificates and production licenses, but has not yet generated revenue [1] - The company’s subsidiary, Changzhou Ruishen'an, has received registration certificates for implanted deep brain stimulators (CNS) and implanted drug delivery devices (IDDS) [1] Group 2: Strategic Partnerships - The company has signed a partnership with the Children's Hospital affiliated with Fudan University to establish a joint laboratory [1] - The company has made a strategic investment in a specialized service organization focused on ADHD behavioral training, named Fangcun Doctor, to deepen collaboration [1] Group 3: Future Directions - The company will continue to advance clinical applications in perioperative brain state monitoring, sleep disease diagnosis, ADHD, epilepsy, and other mental health disorders [1] - The company has established an Artificial Intelligence and Brain-Machine Engineering Research Institute to explore more possibilities at the intersection of brain-machine interface technology and clinical applications [1]

Core Viewpoint - The company has launched its new generation ADM series anesthesia depth monitoring products, although the revenue scale is currently small [1] Product Development - The multimodal ADHD behavioral training system has recently obtained two medical device registration certificates and production licenses, but has not yet generated revenue [1] - The external layout of Changzhou Ruishen'an has recently received registration certificates for implanted deep brain stimulators (CNS) and implanted drug delivery devices (IDDS) [1] Strategic Partnerships - The company has signed a partnership with the Children's Hospital affiliated with Fudan University to establish a joint laboratory [1] - The company has strategically invested in a specialized service organization focused on ADHD behavioral training therapy, known as Fangcun Doctor, to conduct in-depth cooperation [1] Research and Development Focus - The company will continue to advance clinical applications in perioperative brain state monitoring, diagnosis of sleep disorders, ADHD, epilepsy, and other mental health conditions [1] - The establishment of an Artificial Intelligence and Brain-Machine Engineering Research Institute aims to explore more possibilities at the intersection of brain-machine interface technology and clinical applications, driven by cutting-edge technology [1]

Group 1 - The core viewpoint of the articles highlights the advancements made by Aipeng Medical in the commercialization of brain-computer interface technology, particularly in the treatment of refractory insomnia and ADHD [1][4]. - Aipeng Medical has developed a comprehensive system for managing refractory insomnia, which includes both hardware and software components, addressing clinical needs through digital interactions between patients and healthcare providers [1][2]. - The refractory insomnia treatment system integrates various functionalities such as assessment, drug titration, monitoring of sedation depth, and life sign tracking, creating a complete treatment loop from hospitalization to long-term recovery [1][2]. Group 2 - Refractory insomnia, defined as chronic insomnia lasting over two years and resistant to multiple treatments, represents a significant market opportunity, accounting for 20% to 30% of insomnia cases [2]. - The National Health Commission of China has recognized the potential for anesthesia departments to explore treatments for sleep disorders, indicating a supportive regulatory environment for such innovations [2]. - The collaboration between Aipeng Medical and Sun Yat-sen University Sun Yat-sen Memorial Hospital showcases the integration of neuro-regulation and pharmacological treatments, providing a model for other medical institutions [3][4]. Group 3 - Aipeng Medical has initiated a joint laboratory with Fudan University Children's Hospital to focus on ADHD treatment, emphasizing the importance of brain-computer interface technology in developing innovative therapeutic solutions [4]. - The company is actively pursuing clinical applications of its brain-computer interface technology across various mental health conditions, positioning itself as a leader in this emerging field [4].