带量采购政策正在深刻改变医疗器械市场格局。在止血材料领域，传统产品同质化竞争激烈，而临床对高效、 安全、易用的创新产品需求持续增长。这种供需矛盾为具有技术突破能力的国产企业提供了发展窗口。 # 集采新动向：从价格竞争到价值优选 京津冀 " 3+N " 联盟采购项目是近期医疗器械集中采购的重要进展。与早期集采聚焦于成熟、用量大的低值 耗材不同，此次止血材料 的带量采购项目， 显示出集采政策向更高附加值产品领域延伸的趋势。 京 津冀 " 3+N "联盟止血材料类医用耗材带量联动采购项目 结果近期揭晓，多家企业的产品成功入围。此次 | | | | | 京津冀"3+N"联盟止血材料类医用耗材带量联动采购中选结果公示表 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 ▼ | 注册证号 | 申报企业名称 | | 使用部位 = 注册证管理类别, | 采购品种 | ■ 最小竞价单位拟中选价格(元)▼ 最小竞价单{▼ | | | 94 | 国械注准20143141857 | 青岛中惠圣熙生物工程有限公司 | 体内使用 | 三类 | 2-49 | 3. ...

Group 1 - The core point of the news is that MaiPu Medical has experienced a decline in stock price, falling 1.98% to 73.76 yuan per share, with a total market value of 4.946 billion yuan and a cumulative drop of 5.94% over the last four days [1] - MaiPu Medical, established on September 2, 2008, specializes in developing high-performance implantable medical devices using advanced manufacturing technology and synthetic materials [1] - The company's main revenue sources include artificial dura mater (45.42%), craniofacial repair and fixation systems (28.17%), absorbable regenerated oxidized cellulose and dura mater medical glue (24.39%), and other supplementary products (2.03%) [1] Group 2 - According to data, Bosera Fund has one fund heavily invested in MaiPu Medical, specifically the Bosera Health Growth Biweekly Redeemable Mixed A Fund, which holds 135,500 shares, accounting for 2.29% of the fund's net value [2] - The fund has incurred a floating loss of approximately 201,900 yuan today and a total floating loss of 631,400 yuan during the four-day decline [2] - The Bosera Health Growth Biweekly Redeemable Mixed A Fund was established on June 17, 2020, with a current scale of 358 million yuan and has achieved a year-to-date return of 14.58% [2]

股份解除质押的公告 注 ： 1 、 以 上 解 除 质 押 股 份 的 质 押 情 况 详 见 公 司 于 巨 潮 资 讯 网 （www.cninfo.com.cn)披露的相关公告，分别为2024年8月8日披露的2024-052 号公告、2025 年 4 月 29 日披露的 2025-023 号公告; 2、公司目前总股本为 67,049,620 股（含回购股份）； 3、本公告若出现合计数比例与各分项比例之和尾数不符的情况，均是四舍 五入造成。 证券代码：301033 证券简称：迈普医学 公告编号：2026-003 广州迈普再生医学科技股份有限公司 关于公司实际控制人、控股股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股东股份解除质押基本情况 广州迈普再生医学科技股份有限公司（以下简称"公司"）近日 接到公司实际控制人、控股股东袁玉宇先生的函告，获悉其所持有的 公司部分股份办理了解除质押登记手续，具体情况如下： 股东名称 是否为控股 股东或第一 大股东及其 一致行为人 本次解除 质押数量 （股） 占其所 持股份 比例（%） 占公 ...

证券日报网讯1月12日，迈普医学（301033）在互动平台回答投资者提问时表示，公司将持续关注新兴 产业、未来产业的技术发展方向。 ...

Market Sentiment - The current market sentiment score is 82, indicating an "overheated" market condition, which suggests a high level of investor optimism [5][7][21]. Hot Themes Tracking - **Robotics Theme**: The establishment of a national standard organization for humanoid robots and embodied intelligence marks a transition from "technical exploration" to "industrial collaboration" and "scale deployment," which is expected to accelerate technology implementation and ecosystem formation. Related stocks include Sanhua Intelligent Control (002050) and Wolong Electric Drive (600580) [5]. - **Banking Theme**: Bank stocks exhibit high dividend characteristics, with the CSI Bank Index yielding 6.02%, significantly higher than the 10-year government bond yield. In a slowing economy with increased market volatility, bank stocks become important investment targets for long-term funds such as insurance and social security. Related stocks include Agricultural Bank of China (601288) and Ningbo Bank (002142) [5]. - **Brain-Computer Interface Theme**: Neuralink plans to begin large-scale production of brain-computer interface devices in 2026, transitioning to a more streamlined and nearly fully automated surgical process. The global brain-computer interface market is projected to reach $12.4 billion by 2034, with a CAGR of 17% from 2025 to 2034. Related stocks include Aipeng Medical (300753) and Maipu Medical (301033) [5]. Capital Flow Analysis - The top ten stocks with the highest net inflow include Aerospace Science and Technology (000901.SZ) with a net inflow of 909.93 million, and Hailanxin (300065.SZ) with 887.38 million [8]. - The top ten stocks with the highest net outflow include Zhongji Xuchuang (300308.SZ) with a net outflow of 322.72 million, and Lixun Precision (002475.SZ) with 219.50 million [13]. - The top ten industries with the highest net inflow include Defense and Military (SW) and Computer (SW), while the industries with the highest net outflow include Electronics (SW) and Non-bank Financials (SW) [16][22].

广州迈普再生医学科技股份有限公司（以下简称"上市公司"、 "公司"）拟通过发行股份及支付现金的方式购买广州泽新医疗科技 有限公司、广州易创享投资合伙企业（有限合伙）等 10 名交易对方 合计持有的广州易介医疗科技有限公司（以下简称"标的公司"、"易 介医疗"）100%股权并募集配套资金（以下简称"本次交易"）。 公司于 2025 年 11 月 26 日收到深圳证券交易所下发的《关于广 州迈普再生医学科技股份有限公司发行股份及支付现金购买资产并 募集配套资金申请的审核问询函》（审核函〔2025〕030018 号）（以 下简称《审核问询函》）。在收到《审核问询函》后，公司立即会同 中介机构进行了认真研究和落实，按照《审核问询函》的要求对所涉 及的事项进行了资料补充和问题回复，并于 2025 年 12 月 25 日披露 了相关回复文件。 根据深圳证券交易所的进一步审核意见，公司需对《审核问询函》 延期回复公告 延期回复公告 证券代码：301033 证券简称：迈普医学 公告编号：2026-001 广州迈普再生医学科技股份有限公司 关于延期回复《关于广州迈普再生医学科技股份有限公司 发行股份及支付现金购买资产并募集配套 ...

股份质押的公告 证券代码：301033 证券简称：迈普医学 公告编号：2026-002 广州迈普再生医学科技股份有限公司 关于公司实际控制人、控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股东股份质押基本情况 广州迈普再生医学科技股份有限公司（以下简称"公司"）近日 接到公司实际控制人、控股股东袁玉宇先生的函告，获悉其所持有的 公司部分股份办理了质押登记手续，具体情况如下： 注：1、上述质押股份不负担重大资产重组等业绩补偿义务； 2、本公告中的无限售条件流通股包括高管锁定股，不存在股份 冻结情形，下同； 3、公司目前总股本为 67,049,620 股（含回购股份）。 （二）实际控制人、控股股东股份累计质押情况 （一）股东股份质押基本情况 股东名 称 是否为控 股股东或 第一大股 东及其一 致行动人 本次质 押数量 （股） 占其所 持股份 比例 （%） 占公司 总股本 比例 （%） 是否 为限 售股 是否 为补 充质 押 质押 起始 日 质押到期 日期 质权人 质押 用途 袁玉宇 是 1,550, 000 13.99 2.31 ...

Core Viewpoint - The financing balance of the ChiNext market has increased, with significant growth in several stocks, indicating a positive sentiment among investors [1][2]. Financing Balance Overview - The latest financing balance for ChiNext stocks is 560.494 billion yuan, an increase of 5.252 billion yuan compared to the previous period [1]. - The total margin balance for ChiNext stocks reached 562.430 billion yuan, with a day-on-day increase of 5.287 billion yuan [1]. - Among the 540 stocks with increased financing balances, 55 stocks saw an increase of over 10% [1]. Notable Stocks with Increased Financing Balances - Suwen Electric (300982) had the highest increase in financing balance at 43.25%, reaching 178.165 million yuan, with a stock price increase of 11.45% [3]. - Other notable stocks include Huablu Group (301027) with a 41.78% increase and Maipu Medical (301033) with a 34.42% increase [3]. - The average increase for stocks with over 10% growth was 3.43%, with 37 stocks rising, including Su Da Weige (300331) which increased by 20% [1][3]. Stocks with Decreased Financing Balances - A total of 409 stocks experienced a decrease in financing balance, with 10 stocks seeing a decline of over 10% [4]. - The largest decrease was observed in Zhi Te New Materials (300986), with a drop of 16.77% to 30.245 million yuan [4]. - Other significant declines were noted in Maiwei Co. (300751) and Rongqi Technology (301360), with decreases of 14.53% and 13.99% respectively [4][5]. Capital Flow Insights - On January 6, 30 stocks with increased financing balances saw net inflows of main funds, with Su Da Weige leading at 399 million yuan [2]. - Conversely, 25 stocks experienced net outflows, with Dao Shi Technology (301033) seeing the largest outflow of 534 million yuan [2].

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The brain-computer interface (BCI) technology is undergoing a period of accelerated transformation, with various technical paths available, including invasive, semi-invasive, and non-invasive methods, each with its own advantages in signal quality, safety, and operational difficulty [5][19] - The Chinese brain-computer interface market is projected to grow significantly, with the market size reaching approximately 1.73 billion yuan in 2023, accounting for 12.5% of the global market [6] - The industry is supported by a three-pronged policy approach focusing on planning, payment, and standards, which is expected to facilitate rapid development [6][33] Summary by Sections 1. Brain-Computer Interface Overview - BCI is a multidisciplinary technology that integrates neuroscience, computer science, and engineering to enable communication between the brain and external devices [17] - The technology operates through a closed-loop system involving signal input, processing, device control, and feedback [17] 2. Policy Support for BCI Development - The Chinese government has issued several policies to support the BCI industry, including the "Implementation Opinions on Promoting the Innovation and Development of the Brain-Computer Interface Industry" which outlines goals for 2027 and 2030 [6][43] - The policies aim to establish a robust industrial ecosystem, enhance innovation capabilities, and promote clinical applications of BCI technologies [43][44] 3. Technological Advancements and Applications - Core technological breakthroughs are occurring in the upstream segment of the BCI industry, particularly in hardware such as electrodes and chips [7] - The medical application of BCI is predominant, with 56% of the market share in 2023, focusing on various therapeutic areas including cognitive disorders and movement disabilities [7][9] - Companies like Lepu Medical and Aipeng Medical are actively involved in developing deep brain stimulation (DBS) technologies, with some preparing for IPOs [7][8] 4. Investment Recommendations - The report suggests focusing on both invasive and non-invasive BCI products, with specific companies identified as beneficiaries based on their clinical trial progress and commercialization potential [8] - Notable companies include Aipeng Medical and Lepu Medical for invasive products, and Xiangyu Medical and Innovation Medical for non-invasive products [8]

Core Insights - The medical device sector is experiencing a strong upward trend, with the CSI All Index Medical Device Index rising by 1.25% and significant gains in key stocks such as Meihua Medical and Xiangyu Medical [1] - Neuralink, owned by Elon Musk, plans to begin large-scale production of brain-machine interface devices in 2026, aiming for a streamlined and automated surgical process [1] - The brain-machine interface has been included in China's 14th Five-Year Plan, with specific goals for technological breakthroughs by 2027 and industry strength by 2030 [1] Market Performance - The medical device ETF (159883) has seen a 1.16% increase, with net subscriptions exceeding 400 million units [1] - The latest net inflow into the medical device ETF is 274 million yuan [1] Industry Developments - Domestic high-end medical device market share is increasing, with over 70% penetration of domestic DR and ultrasound diagnostic equipment in grassroots medical institutions [2] - The brain-machine interface industry is expected to enter a growth phase, transitioning from research to commercialization, supported by policy and technological advancements [2] - The brain-machine interface market is projected to grow at a CAGR of 17% from 2025 to 2034, reaching an estimated $12.4 billion by 2034 [2] ETF Insights - The medical device ETF (159883) has the highest brain-machine interface content in the market, accounting for over 23% of its holdings, and focuses on innovative domestic companies [3] - The Hong Kong medical ETF (159366) tracks a medical theme index, providing exposure to high-quality assets in the medical device sector, including minimally invasive brain science and robotics [3]