Shenzhen YHLO Biotech (SH:688575) 21世纪经济报道·2026-01-08 02:06Core Viewpoint - The article discusses the recent strategic cooperation between Aihuilong (亚辉龙) and Shenzhen Brain Machine Starlink Technology Co., Ltd. (脑机星链) in the field of brain-computer interface technology, highlighting the challenges and market reactions following the announcement [1][4][10]. Group 1: Company Performance and Market Reaction - Aihuilong has experienced a decline in performance, with a revenue of 1.287 billion yuan for the first three quarters of 2025, down 7.69% year-on-year, and a net profit of 60.42 million yuan, down 72.36% year-on-year [4][5]. - Following the announcement of the cooperation, Aihuilong's stock price initially rose but then fell, with a drop of over 1% on January 8, leading to a total market value of approximately 8.8 billion yuan [2][5]. - The company's stock price decreased by 8.83% over the previous year, despite a bullish A-share market [5]. Group 2: Strategic Cooperation Details - Aihuilong signed a strategic cooperation framework agreement with Brain Machine Starlink to develop brain-computer interface products and enhance diagnostic technologies for central nervous system diseases [1][4]. - The cooperation has raised questions regarding the credibility and technological capabilities of Brain Machine Starlink, which was established only four months prior and has a registered capital of 5 million yuan [5][10]. - Aihuilong clarified that the products under development by Brain Machine Starlink are primarily non-invasive and have not yet entered the registration phase, with some products still in early research or pre-clinical stages [10][12]. Group 3: Regulatory Scrutiny and Information Disclosure - The Shanghai Stock Exchange issued an inquiry to Aihuilong regarding the inconsistency in the disclosure of Brain Machine Starlink's technology path and the lack of detailed information on the cooperation's feasibility and risks [2][11]. - Aihuilong's announcement was criticized for not adequately addressing investor concerns about the collaboration's potential impact on the company's performance and the uncertainty surrounding the partnership [12][13]. - The exchange's inquiry included requests for detailed information on the technological collaboration, product types, and the expected timeline for further agreements [13].