【私募调研记录】誉辉资本调研翔宇医疗

Core Insights - Recent research by renowned private equity firm Yuhui Capital indicates significant potential and demand for brain-computer interfaces (BCIs) in the rehabilitation sector [1] Company Summary - Xiangyu Medical has conducted institutional research showing that non-invasive BCIs have broad applications, including rehabilitation, sleep monitoring, brain relaxation, and attention enhancement [1] - The company has obtained Class II medical device registration for two EEG collection devices and expects to receive multiple registrations for BCI-named devices in the second half of the year [1] - Xiangyu Medical has developed specialized technology to address poor contact between electrodes and the scalp, enhancing connection stability and user experience [1] - Currently, EEG collection devices are primarily for self-research and use, with potential plans to open sales to third parties in the future [1] - The company aims to upgrade existing rehabilitation equipment to BCI products, which will offer significant cost competitiveness [1] - Market pricing will consider hospital payment capabilities and medical insurance payment standards, with the National Medical Insurance Administration showing a positive attitude towards BCI rehabilitation charges [1] - Sales strategy involves starting with top-tier hospitals and gradually extending to lower-tier hospitals and community health centers, with potential entry into the home market [1] - Xiangyu Medical has signed strategic cooperation agreements with multiple hospitals to establish specialized BCI treatment centers, expand indications, promote registration upgrades, and enhance industry-academia-research collaboration [1] - Future growth drivers for the company include policy support for the rehabilitation medical market, with plans to launch more products and solutions in rehabilitation robotics, BCIs, mental health, and cardiopulmonary rehabilitation [1]