亚辉龙遭监管警示，跨界“脑机接口”信息披露不准确不完整

Core Viewpoint - The regulatory warning issued to Shenzhen Yahui Long Biotechnology Co., Ltd. (Yahui Long) highlights concerns over the accuracy and completeness of information disclosed regarding its strategic cooperation with Brain Machine Star Chain Technology Co., Ltd. in the emerging field of brain-computer interfaces [1][2]. Group 1: Company Overview - Yahui Long signed a strategic cooperation framework agreement with Brain Machine Star Chain to collaborate on product development, market promotion, and equity investment [1]. - The company was established in 2008 and is primarily engaged in the research, production, sales, and service of in vitro diagnostic products in the biopharmaceutical industry [3]. - As of January 7, Yahui Long's stock price was 15.53 CNY per share, with a market capitalization of 8.874 billion CNY [5]. Group 2: Financial Performance - Yahui Long's revenue for 2023 and 2024 was reported at 2.053 billion CNY and 2.012 billion CNY, respectively, reflecting year-on-year declines of 48.42% and 2.02% [3]. - The net profit attributable to shareholders for the same years was 355 million CNY and 302 million CNY, showing declines of 64.92% and 15.06% [3]. - In the first three quarters of 2025, the company reported a net profit of 60.42 million CNY, down 72.36% year-on-year, with total accounts receivable and inventory amounting to 1.171 billion CNY [3]. Group 3: Regulatory Concerns - The Shanghai Stock Exchange raised concerns about the inconsistency in Yahui Long's disclosures regarding the invasive and non-invasive technology paths of Brain Machine Star Chain, emphasizing the need for accurate and complete information to avoid misleading investors [2]. - Yahui Long's former board secretary, Wang Mingyang, was held responsible for the company's disclosure violations and received a regulatory warning [2]. - The company acknowledged that the products under development with Brain Machine Star Chain have not yet obtained medical device registration, with the earliest potential revenue generation expected no earlier than November 2026 [2][3].