Core Viewpoint - The A-share market experienced a significant upward movement on the first trading day of 2026, with the Shanghai Composite Index rising over 1% and surpassing the 4000-point mark, driven by a surge in brain-computer interface (BCI) stocks [1] Group 1: Market Performance - The combined trading volume of the Shanghai and Shenzhen markets exceeded 1.6 trillion yuan, indicating a notable increase in market activity [1] - Several BCI-related stocks, including Sanbo Brain Science, Aipeng Medical, and others, reached the daily limit of a 20% increase [1][2] Group 2: Industry Insights - Elon Musk's recent comments regarding Neuralink's plans to mass-produce BCI devices by 2026 have sparked interest in the BCI sector, with expectations of significant advancements in technology and applications [3] - The global BCI market is projected to grow from $2.94 billion in 2025 to $12.4 billion by 2034, with a compound annual growth rate (CAGR) of 17% from 2025 to 2034 [3] - Recent research breakthroughs in medical applications such as movement recovery and communication have been reported, supported by favorable policies from the government, including separate pricing for new BCI technologies [4]

据新华社旧金山电，埃隆·马斯克2025年12月31日通过社交平台发布重磅消息，旗下脑机接口公司 Neuralink计划于2026年启动脑机接口设备大规模量产，并同步推出全自动化外科手术流程。这一规划标 志着脑机接口技术从临床验证阶段向产业化落地迈出关键一步，也成为A股人脑工程板块的强力催化， 截至1月5日上午收盘，该板块指数大涨12.56%至6245.59点，超十只概念股收获"20CM"涨停。 据Neuralink官网及马斯克公开发言内容，截至2025年9月份，该公司已完成12例脑机接口设备人体植入 手术，临床试验参与者累计使用设备时长超1.5万小时，患者可通过意念实现光标操控、文字输入甚至 机械臂辅助进食等操作，设备实际运行稳定性达标率超98%。同时，第二代手术机器人实现技术升级， 将单根电极植入时间从17秒压缩至1.5秒，整体手术时长从6小时缩短至20分钟内；成本端也实现大幅下 降，单台设备植入成本从早期百万美元级降至10万美元以内，全自动化手术落地后有望进一步下探至5 万美元区间。 《证券日报》记者注意到，A股相关上市公司早已在脑机接口赛道展开布局，从设备研发到临床应用多 维度切入，试图抢占行业发展先机 ...

截至1月5日午间收盘，A股98只个股涨停，74只个股首板涨停，连板梯队中以2连板、3连板个股为主，最高6连板。脑机接口成为涨停主线，三博脑科、伟 思医疗、创新医疗等数十只相关概念股批量涨停，覆盖康复设备、神经医疗、AI应用等多个细分领域；商业航天板块表现强势，中国卫通、北斗星通、中 天火箭等多股实现2连板。 | 002766.SZ 索菱股份 | 10.08% | 2连板 | 09:32:06 | 09:32:06 | 智能舱驾+无人驾驶+车联网 | | --- | --- | --- | --- | --- | --- | | 600266.S 城建发展 | 10.06% | 2连板 | 09:31:34 | 09:35:07 | 商业航天+北京国资+房地产 | | 600498.S 烽火通信 | 10.01% | 2连板 | 09:42:04 | 09:43:13 | 商业航天+光通信 | | 003009.SZ 中天火箭 | 9.99% | 2连板 | 11:15:51 | 11:29:33 | 商业航天+小型固体火箭+军贸 | | 002151.SZ 北斗星通 | 9.99% | 2连板 | 11:02 ...

Core Viewpoint - The A-share market experienced a significant surge on January 5, 2026, driven by the brain-computer interface (BCI) sector, with the index rising over 12% and multiple stocks hitting their daily limit up [1] Group 1: Market Performance - On the opening day of the A-share market, stocks related to brain-computer interfaces saw a collective rally, with stocks like BeiYikang (920199.BJ) hitting a 30% limit up and others such as Botao Bio (688767.SH) and Sanbo Neuroscience (301293.SZ) reaching 20% limit up [1] - A total of 11 stocks in the BCI sector experienced a 20% limit up, indicating strong investor interest and market momentum [1] Group 2: Technological Developments - The surge in the BCI sector was catalyzed by news of mass production of BCI devices by Elon Musk's company, Neuralink, expected to begin in 2026, which includes advancements in surgical procedures [1] - Neuralink's device will feature electrodes that can penetrate the dura mater without removal, marking a significant technological breakthrough [1] Group 3: Domestic Developments - In China, several companies are emerging that parallel Neuralink's technological approach, with Guotai Junan Securities declaring 2025 as the year for clinical trials of invasive and semi-invasive BCIs [2] - Companies like Borui Kang have completed clinical trials, with expectations for regulatory approval in 2026, while other firms are also making progress in BCI technology [2] Group 4: Market Projections - Open Source Securities predicts that BCI technology will redefine human-robot interaction and is expected to commercialize by 2026, expanding from medical applications to AI and robotics [3] - The global BCI market is projected to grow to approximately $12.4 billion by 2034, with a CAGR of 17% from 2025 to 2034, indicating strong future growth potential [3]

Market Performance - The A-share market experienced a significant increase, with the Shanghai Composite Index recovering above 4000 points, closing at 4011.45, up 1.07% [1] - The Shenzhen Component Index rose by 1.87% to 13777.32, while the ChiNext Index increased by 2.15% to 3272.07 [1] - The total trading volume in the Shanghai and Shenzhen markets reached 16357.79 billion, with over 4000 stocks rising [1] Sector Highlights - The insurance sector led the market, with stocks like New China Life Insurance rising over 8%, reaching a historical high [3] - The insurance industry reported a total premium income of 57629 billion for the first 11 months of 2025, a year-on-year increase of 7.6% [3] - The semiconductor sector saw a collective surge, with stocks like Jiangbolong rising over 14% due to a worsening DRAM supply shortage, with contract prices expected to rise by up to 50% in Q1 2026 [3] - The innovative drug sector was active, with stocks like Guanhao Bio hitting the daily limit, supported by the approval of 76 innovative drugs in 2025, a historical high [3] Analyst Insights - CITIC Securities highlighted that balancing external and internal demand will be a major expectation for 2026, suggesting a trend towards taxing external demand and subsidizing internal demand [4] - Huatai Securities noted that overseas Chinese stocks' performance positively impacts investor sentiment, although geopolitical issues may create short-term volatility [4] - CITIC Jiantou indicated that post-holiday, investor risk aversion is easing, leading to a more active search for opportunities, with a high probability of continued upward trends in A-shares [4]

Core Viewpoint - The medical sector is experiencing a strong performance, with the largest medical ETF (512170) showing significant gains, driven by positive market sentiment and news regarding Neuralink's plans for large-scale production of brain-computer interface devices starting in 2026 [1][3]. Group 1: Market Performance - On January 5, 2026, the medical ETF (512170) opened high and rose over 4%, potentially marking the largest single-day gain in nearly three months, with real-time transactions exceeding 650 million yuan [1]. - All 50 constituent stocks of the medical ETF saw increases, with notable surges in brain-computer interface stocks, including Sanbo Brain Science, Meihua Medical, and Lepu Medical, which hit the daily limit of 20% [1]. - The CXO sector also performed strongly, with Zhaoyan New Drug reaching the daily limit and WuXi AppTec increasing by nearly 6% [1]. Group 2: Fund and Index Details - The medical ETF (512170) has a total scale exceeding 25.259 billion yuan, making it the largest medical and healthcare ETF in the market, serving as a significant industry benchmark [3]. - The ETF focuses on "medical devices + medical services," with a CXO weight exceeding 26%, and includes leading companies in aesthetic medicine, private hospitals, and medical information technology [3]. - The current price-to-earnings ratio of the underlying index for the medical ETF is 32 times, which is lower than over 70% of the time in the past decade, indicating a favorable cost-performance ratio for investors [1].

Core Viewpoint - Neuralink, founded by Elon Musk, is set to begin large-scale production of its brain-machine interface technology this year, marking a significant advancement in automated surgical procedures and bringing previously speculative technology into mass production [1][4]. Company Developments - Neuralink has announced that it will automate surgical processes, reducing the insertion time for its devices to 1.5 seconds and cutting manufacturing costs by 95% [4]. - As of September 2025, 12 patients with severe paralysis have successfully implanted Neuralink devices, enabling them to perform tasks such as gaming and social media interaction [5]. - The company raised $650 million (approximately 4.55 billion RMB) in a funding round completed in June [5]. Industry Trends - The brain-machine interface sector is experiencing a surge in interest and investment, with companies like阶梯医疗, 博睿康, and 芯智达 entering clinical validation stages [9]. - The Chinese government has included brain science and related research in its "14th Five-Year Plan," aiming for significant technological breakthroughs by 2027 [10]. - The market for brain-machine interfaces in China is projected to grow from 3.2 billion RMB in 2024 to over 5.5 billion RMB by 2027, with global market estimates reaching $40 billion by 2030 [11]. Market Response - Following Neuralink's announcement, stocks related to brain-machine interfaces surged, with notable increases in companies such as 南京熊猫电子股份 (up 43.69%) and 微创脑科学 (up 16.19%) [2][3]. - A-share market also saw significant gains, with multiple companies hitting the upper limit of their trading range [2]. Future Outlook - Neuralink's roadmap includes plans for motion decoding for patients with spinal injuries and visual encoding for those with vision impairments, potentially addressing mental health issues and enhancing cognitive abilities [6]. - The industry is expected to benefit from technological breakthroughs, policy support, and collaborative ecosystems, with a projected CAGR of 17% from 2025 to 2034 [11].

1月5日， 脑机接口板块持续大涨，截至发稿，板块指数涨幅已超11%。 马斯克说，该设备的电极丝将直接穿过硬脑膜，而无需将其切除，此举意义重大。 编辑丨瑜见 倍益康30%涨停，美好医疗、三博脑科、熵基科技、翔宇医疗、诚益通等10股20%涨停，创新医疗、荣 泰健康、南京熊猫、三七互娱等涨停。 | 代码 | 名称 | 式唱 | 息金额 | 息而值 | 现价 | | --- | --- | --- | --- | --- | --- | | 920199 | 倍益康 | +29.98% | 1.96 Z | 30.62 G | 44.96 | | 688767 | 博拓生物 | +20.01% | 6.27 Z | 67.71 Z | 45.34 | | 301293 | 三博脑科 | +20.01% | 7.04Z | 1 45.8亿 | 70.78 | | 301363 | 美好医疗 | +20.00% | 1.98 Z | 164.2 乙 | 28.86 | | 301330 | শ্ব # 技 | +20.00% | 7.25 Z | 93.34 Z | 39.66 | | 300887 | 谱尼测试 | + ...

医疗板块开门红！2026年1月5日早盘，医疗板块全线飘红，全市场规模最大医疗ETF（512170）高开高 走，盘中涨超4%，今日有望创下近3个月来最大单日涨幅！实时成交超6.5亿元。 医疗ETF50只成份股全部上涨，脑机接口概念股集体爆发，三博脑科、美好医疗、乐普医疗20CM涨 停！CXO亦强势，昭衍新药涨停，巨头药明康德涨近6%。 医疗板块开门红！2026年1月5日早盘，医疗板块全线飘红，全市场规模最大医疗ETF（512170）高开高 走，盘中涨超4%，今日有望创下近3个月来最大单日涨幅！实时成交超6.5亿元。 医疗ETF50只成份股全部上涨，脑机接口概念股集体爆发，三博脑科、美好医疗、乐普医疗20CM涨 停！CXO亦强势，昭衍新药涨停，巨头药明康德涨近6%。 消息面上，马斯克近日在社交媒体上表示，其脑机接口公司Neuralink将于2026年开始对脑机接口设备进 行"大规模生产"。 | 分时 多日 1分 5分 · | | | | | | | F9 盘前盘后 露加 九轮 面线 工具 @ 2 > | | | | | | | | | | 医疗ETF O | | | | --- | --- | --- | --- ...

1月5日， 脑机接口板块持续大涨，截至发稿，板块指数涨幅已超11%。 倍益康30%涨停，美好医疗、三博脑科、熵基科技、翔宇医疗、诚益通等10股20%涨停，创新医疗、 荣泰健康、南京熊猫、三七互娱等涨停。 马斯克说，该设备的电极丝将直接穿过硬脑膜，而无需将其切除，此举意义重大。 编辑丨瑜见 | 代码 | 名称 | 涨幅量 | 息金额 | 息市值 | 现价 | | --- | --- | --- | --- | --- | --- | | 920199 | 倍益康 | +29.98% | 1.96 Z | 30.62 乙 | 44.96 | | 688767 | 博拓生物 | +20.01% | 6.27 Z | 67.71 Z | 45.34 | | 301293 | 三博脑科 | +20.01% | 7.04 Z | 145.8亿 | 70.78 | | 301363 | 美好医疗 | +20.00% | 1.98 乙 | 164.2 乙 | 28.86 | | 301330 | 腐基科技 | +20.00% | 7.25 Z | 93.34 乙 | 39.66 | | 300887 | 谱尼测试 | +20 ...