Xiangyu Medical(SH:688626) Zhong Guo Zheng Quan Bao·2026-01-21 00:28Core Viewpoint - The rehabilitation industry is viewed as a "golden track" with significant growth potential, driven by brain-computer interface (BCI) technology, which is expected to reshape the industry landscape [1] Group 1: Technological Innovation - The company focuses on three cutting-edge areas: brain-computer interfaces, rehabilitation robots, and AI medical technology, with BCI technology accelerating commercialization [2] - A comprehensive product matrix in rehabilitation robotics has been established, with plans to launch 5-6 medical device registrations by 2026 [2] - The company has initiated a brain science laboratory and developed five technical platforms to enhance BCI technology integration with rehabilitation equipment [3] - Continuous R&D investment is planned to remain above 20% of revenue over the next 3-5 years, with a significant portion allocated to frontier technology research [4] Group 2: Market Transformation - The company has partnered with over 600 leading hospitals to establish BCI rehabilitation treatment and clinical research centers, aiming to create regional treatment benchmarks [5] - The integration of BCI technology into multi-joint exoskeleton robots and various rehabilitation products is expected to enhance treatment precision and effectiveness [6] - A dual strategy of deepening medical institution engagement while expanding into outpatient markets is being implemented, targeting public hospitals, private hospitals, and rehabilitation institutions [6] Group 3: International Expansion - The company is accelerating its international business, with overseas sales expected to double in 2024 compared to 2023, aiming for international revenue to account for over 30% by 2030 [6][7] - Compliance with international certification standards, such as EU CE and US FDA, is being prioritized to facilitate market entry [7] Group 4: Ecosystem Development - The company is focused on building a comprehensive rehabilitation ecosystem, emphasizing the importance of BCI technology in future rehabilitation devices [8] - The trend towards lightweight, portable, and home-based rehabilitation devices is noted, with a vision to integrate rehabilitation equipment into everyday household items [8] Group 5: Industry Integration - Strengthening the supply chain for core components like chips and sensors is a priority, along with plans for mergers and acquisitions to consolidate industry resources [9] - The company aims to establish chain rehabilitation hospitals featuring BCI and rehabilitation robotics, targeting a service revenue contribution of over 20% by 2030 [9]