北京商报讯(记者丁宁)1月5日，脑机接口概念股走强，其中，三博脑科（301293）、美好医疗 （301363）、翔宇医疗"20cm"涨停，创新医疗（002173）同样涨停，爱朋医疗（300753）、博拓生物 等涨超10%。 ...

每经AI快讯，1月5日，沪指高开0.46%，深成指高开0.80%，创业板指高开0.84%，人脑工程、贵金属、 石油石化等板块指数涨幅居前。脑机接口概念表现活跃，创新医疗涨停，美好医疗、三博脑科20cm涨 停，倍益康、爱朋医疗、翔宇医疗涨超10%，博拓生物、伟思医疗跟涨。 （文章来源：每日经济新闻） ...

证券代码：300753 证券简称：爱朋医疗 公告编号：2025-054 江苏爱朋医疗科技股份有限公司 关于与专业投资机构共同投资设立基金的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、与专业投资机构合作投资概述 为满足战略发展需求，充分借助专业投资机构的力量及资源优势，加快推动产业 布局优化，在不影响公司日常经营和发展、有效控制投资风险的前提下，江苏爱朋医 疗科技股份有限公司（以下简称"公司"）与江苏英掘私募基金管理有限公司、嘉兴 思麟创业投资合伙企业（有限合伙）共同投资设立了爱朋智链云脑（嘉兴）股权投资 合伙企业（有限合伙）（以下简称"基金"），该基金主要投资脑机接口、脑神经科 学、精神系统疾病及其他医疗健康领域。基金规模10,000万元，公司作为有限合伙人以 自有资金人民币4,970万元出资认购投资基金份额，出资比例为49.7%。具体内容详见公 司于2025年12月8日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于与专业投 资机构共同投资设立基金的公告》（公告编号：2025-053）。 二、基金进展情况 目前， ...

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing significant growth driven by favorable policies, technological advancements, and increased investment interest, as evidenced by the recent surge in stock prices of related companies in both Hong Kong and A-share markets [2][6][7]. Policy Developments - The National Medical Products Administration has included implantable brain-computer interface medical devices in the "Priority Approval List for High-end Medical Devices (2025 Edition)" [2]. - A joint initiative by seven ministries, including the Ministry of Industry and Information Technology, has set phased goals for the BCI industry by 2027 and 2030 [3]. - The "14th Five-Year Plan" emphasizes the BCI sector as a key area for fostering new economic growth [4]. - The National Healthcare Security Administration has introduced new pricing guidelines for invasive BCI procedures, facilitating reimbursement pathways [4]. Technological Advancements - Recent breakthroughs in BCI technology include the first domestically developed fully implanted, wireless BCI product by Brain Tiger Technology, which successfully completed its first clinical trial [5]. - The National Medical Products Administration has approved the world's first invasive BCI product for treating addiction-related mental disorders [5]. - Ongoing clinical trials and collaborations among research institutions and medical units are yielding significant progress in the field [5]. Market Insights - The BCI industry is entering a rapid commercialization phase, supported by policy backing, technological breakthroughs, and increased capital influx [5][6]. - The market for BCI is projected to be a nearly $10 billion opportunity globally, with domestic companies making strides in flexible electrodes and real-time Chinese language decoding [7]. - Investment interest in the BCI sector is rising, particularly in rehabilitation applications and non-invasive BCI technologies, as companies strategically position themselves for future growth [6][7].

Market Overview - The medical device sector experienced a decline of 0.74% on December 29, with Huakang Clean leading the drop [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] Top Performers - Meihao Medical (301363) saw a closing price of 25.04, with an increase of 8.30% and a trading volume of 197,100 shares, totaling a transaction value of 482 million yuan [1] - Mailande (688273) closed at 41.73, up 8.22%, with a trading volume of 55,200 shares and a transaction value of 227 million yuan [1] - Kangzhong Medical (688607) closed at 45.80, up 7.23%, with a trading volume of 40,200 shares and a transaction value of 180 million yuan [1] Underperformers - Huakang Clean (301235) closed at 39.21, down 8.54%, with a trading volume of 123,300 shares and a transaction value of 488 million yuan [2] - C Jianxin (688805) closed at 47.16, down 7.26%, with a trading volume of 89,000 shares and a transaction value of 426 million yuan [2] - Furuim Medical (300049) closed at 71.93, down 4.20%, with a trading volume of 66,800 shares and a transaction value of 485 million yuan [2] Capital Flow - The medical device sector saw a net outflow of 565 million yuan from institutional investors, while retail investors experienced a net inflow of 328 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Capital Flow - Meihao Medical (301363) had a net outflow of 54.30 million yuan from institutional investors, with retail investors also showing a net outflow of 0.76 million yuan [3] - Jigaofazhan (600807) experienced a net inflow of 44.75 million yuan from institutional investors, while retail investors had a net outflow of 61.29 million yuan [3] - Kangzhong Medical (688626) saw a net inflow of 44.26 million yuan from institutional investors, with retail investors showing a slight net outflow [3]

Investment Rating - The report maintains an "Overweight" rating for the biomedical sector [4] Core Insights - The brain-computer interface (BCI) industry is at a critical stage of policy support, rapid technological iteration, and accelerated commercialization, with a global market approaching $10 billion [3][9] - The industry is driven by both policy and technology, with significant investments from major countries, including approximately $4.5 billion from the U.S. BRAIN Initiative and hundreds of billions in China [1][51] - The medical application of BCI technology is the most mature segment, focusing on neurorehabilitation, functional replacement, and disease treatment, with a dual growth curve emerging from medical and consumer applications [2][45] Summary by Sections Industry Overview - BCI is defined as a technology that creates a communication channel between the brain and external devices, enabling direct information exchange [16] - BCI can be categorized into invasive, semi-invasive, and non-invasive types, each with distinct applications in medical rehabilitation, consumer interaction, and military use [17][19] - The global BCI market is projected to grow from $1.2 billion in 2019 to approximately $7.63 billion by 2029, with a compound annual growth rate (CAGR) exceeding 13% [24] Policy Guidance - Major countries have launched BCI-related initiatives, with the U.S. and EU leading in funding and research efforts [52][53] - China's "Brain Plan" aims to enhance brain science and BCI technology, with significant funding expected in the coming years [54][57] Clinical Applications - The medical sector is the primary focus for BCI applications, with significant demand driven by conditions such as stroke and disabilities [45][48] - Clinical trials for BCI products are accelerating globally, with notable advancements in both invasive and non-invasive technologies [3][19] Industry Progress - The report highlights the competitive landscape, noting that while foreign companies like Neuralink and Synchron have a head start, domestic firms are making significant strides in key areas such as flexible electrodes and real-time language decoding [2][4][30] - The BCI industry is characterized by a complex supply chain, with upstream components like electrodes and chips, midstream product supply, and downstream applications across various sectors [30][33] Investment Recommendations - Investors are advised to focus on companies with strong technological barriers and clinical application capabilities, particularly in the medical sector, which is the most developed area for BCI commercialization [3][9] - Specific companies to watch include medical scene integrators and leaders in invasive/semi-invasive technologies, such as Xiangyu Medical, Weisi Medical, and Brain Tiger Technology [3][9]

Core Viewpoint - The company has developed a multimodal ADHD behavior training system that connects data between in-hospital behavior training centers and at-home training scenarios, utilizing scientific EEG monitoring and multimodal intervention training to help children improve hyperactivity and attention deficit behaviors, enhancing focus [2] Group 1 - The company possesses a deep technical reserve in anesthesia depth monitoring, being one of the few in China to master anesthesia depth index monitoring, which is crucial for perioperative monitoring, diagnosis, and early warning applications [2] - The company has launched a stubborn insomnia anesthesia treatment system designed to meet clinical needs for stubborn insomnia, integrating both hardware and software to support clinical treatment through intelligent interaction between doctors and patients [2] - The company plans to advance clinical innovative applications in perioperative brain state monitoring, ADHD, sleep disorders, and epilepsy among other mental health conditions [2]

（文章来源：证券日报） 证券日报网讯 12月25日，爱朋医疗在互动平台回答投资者提问时表示，公司计划参加2025深圳国际脑 机接口创新技术展览会，以加强与行业的交流合作。 ...

Group 1: Company Overview - Aipeng Medical focuses on medical devices, particularly in pain management and upper airway management, while also exploring brain-computer interface (BCI) innovations [3] - The company has a strategic partnership with Ruishen'an Medical, a leading player in the domestic neuroregulation field [3] Group 2: Product Registration and Classification - The company has obtained three Class III medical device registration certificates for its perioperative brain state monitoring product [6] - The multi-modal ADHD behavior training system includes two Class II medical device registration certificates for its hospital and home versions [6] Group 3: Pricing and Reimbursement - The non-invasive BCI adaptation fee is set at 966 RMB per session in regions like Hubei, Zhejiang, and Jiangsu [7] - New regulations from the National Medical Insurance Administration have established a "green channel" for innovative medical products, including BCIs, to expedite clinical practice and application [7] Group 4: Technology and Market Strategy - The company prioritizes the commercialization of non-invasive BCI technologies while considering the strategic integration of high-barrier invasive technologies [5] - The company’s product offerings include a comprehensive system for treating stubborn insomnia, which integrates diagnostic, treatment, and monitoring solutions [8][9] Group 5: Commercialization and Research Initiatives - The ADM series anesthesia depth monitoring products have been launched, but revenue remains modest [10] - Aipeng Medical has established an AI and BCI research institute to drive technological innovation and clinical application in pain management, anesthesia, and mental health [10]

Q&A 爱鹏医疗在脑机接口领域的具体布局是什么？ 爱鹏医疗在脑机接口领域的布局涵盖了多个方面，主要包括疼痛管理和鼻腔上 呼吸道业务，同时在多模态精确给药和脑机接口应用方面也有显著进展。目前， 公司在非侵入式脑机接口方面已经实现了大约 1,000 万元的收入，并且在市场 培育和路径探索中也有相关业务布局。 公司成立了 AI 及脑机工程研究院，研 究院由外部专家如瑞金医院的徐教授、邹教授和梁教授组成，他们与爱鹏在临 床和学术研究上有广泛合作。研究院朱总拥有多年西门子美敦力等公司的经验， 而彭瑞的贺总和宋总则来自北大系，在三星电子、中科创达等领域积累了丰富 研发经验。 爱鹏医疗在脑机接口医疗应用中的主要方向包括以下几个方面： 爱朋医疗 20251224 摘要 爱鹏医疗已在脑状态监测领域实现商业化，麻醉监测产品覆盖 100 多家 医院，收入达 1,000 万元，并积极拓展睡眠等领域应用，市场潜力巨大， 预计国内麻醉深度监测市场规模可达 40 亿元每年。 针对顽固性失眠，爱鹏医疗推出包括 PSG 监测、镇静治疗、耳甲迷走神 经刺激等综合解决方案，临床数据表明疗效显著，已进入商业化阶段并 获得多家医院采购，出院后跟踪巩固 ...