2026年A股开门红，脑机接口相关概念股均迎来暴涨。 自1月5日开始，三博脑科（301293）、翔宇医疗、美好医疗（301363）、伟思医疗、诚益通（300430） 等股票连续多个交易日出现20%涨停，冠昊生物（300238）、塞力医疗（603716）、创新医疗 （002173）、南京熊猫（600775）、岩山科技（002195）等也都连续10%涨停。截至1月7日记者发稿， 脑机接口板块依然涨停不断。 多重利好消息传来 消息面上，埃隆.马斯克近日表示，旗下脑机接口公司Neuralink将于2026年开始大规模生产脑机接口设 备，并将同步推进流程高度精简、几乎完全自动化的外科手术方案。这一表态更是引发脑机接口相关概 念股热度快速攀升。有消息称，量产后，脑机单台植入手术的成本将从百万美元降至10万美元以内，全 自动化落地后有望进一步下探至5万美元区间，为日后脑机接口设备的大规模商业化埋下伏笔。 国内政策层面，2025年7月，工业和信息化部、国家发展改革委、教育部、国家卫生健康委、国务院国 资委、中国科学院、国家药监局七部门联合印发《关于推动脑机接口产业创新发展的实施意见》（以下 简称《意见》），首次系统性地明确了 ...

Core Insights - Strong Brain Technology, a brain-computer interface "unicorn," recently completed approximately 2 billion yuan in financing, making it the second-largest financing in the global brain-computer interface sector, following Neuralink [1] - The financing round attracted prestigious investors, including IDG Capital, Huaden International founded by Intel CEO Chen Lifeng, and several technology and education companies [1] - The brain-computer interface sector has seen a surge in secondary capital, with the sector's stocks rising over 20% in the last three trading days [1] Company Overview - Founded in 2015, Strong Brain Technology is recognized alongside innovative companies like DeepSeek and Yuzhu Technology as part of the "Hangzhou Six Little Dragons" [1] - Unlike Neuralink, Strong Brain Technology focuses on the development of non-invasive brain-computer interface technology [1] - The company's products span rehabilitation medicine, smart health, and intelligent education, with FDA and CE certifications obtained [1] Product and Market Potential - The core product, "Super Sensor," can detect weak brain electrical signals without invasive procedures, converting them into neural signals to control external devices [1] - The product currently assists individuals with physical disabilities in performing activities like running and complex sports [2] - Strong Brain Technology aims to help 1 million disabled individuals regain mobility and assist 10 million patients with Alzheimer's, autism, and insomnia over the next 5-10 years [2] Financial and Investment Highlights - Strong Brain Technology has attracted significant investment since its inception, completing multiple funding rounds, including a $400 million Series A in 2019 and subsequent rounds totaling $30 million and $20 million [2] - As of 2024, the company's valuation stands at 8.5 billion yuan according to the Hurun Global Unicorn List [2] - The company is reportedly preparing for an IPO, potentially in Hong Kong or mainland China, after completing over $100 million in pre-IPO financing by 2025 [2] Industry Trends - According to research from Open Source Securities, brain-computer interface technology is expected to commercialize by 2026, expanding from medical necessities into AI applications and robotics [2] - The commercialization path for non-invasive products is clear, indicating significant revenue potential in the future [2]

记者丨雷若馨 编辑丨孙超逸 2022年的冬季残奥会上，失去左臂及右臂大部分的运动员贾红光，佩戴着智能仿生手，通过非侵入式脑机接口技术识别大脑意图，顺利完成火炬交接和传 递。 2025年的冬天，马斯克宣布，脑机接口公司"神经连接（Neuralink）"将启动大规模脑机接口输出，并计划转向近乎全自动化手术，引爆全球医疗行业热度。 新年伊始，A股脑机接口概念板块接连两个交易日掀涨停潮，超50亿元资金流入。Wind数据显示，最近三个交易日，脑机接口指数累计涨幅超过14%。 1月7日早盘，脑机接口概念延续强势，创新医疗、南京熊猫双双3连板。 | 名称 | 现价 | 涨跌幅 ▼ | 换手率 | 市智率 | 年初至今 | | --- | --- | --- | --- | --- | --- | | 美好医疗 | 41.49 | 19.81% | 20.53% | 75.1 | 72.52% | | 创新医疗 | 28.63 | 9.99% | 1.65% | -206 | 33.10% | | 开立医疗 | 28.56 | 3.48% | 2.34% | 185 | 8.10% | | 航天长峰 | 26.15 | 2. ...

Market Performance - On January 6, A-shares saw all three major indices rise, with the Shanghai Composite Index increasing by 1.50% to 4083.67 points, marking a ten-year high [1] - The market's total trading volume exceeded 2.83 trillion yuan, an increase of over 260 billion yuan compared to the previous trading day, with more than 4100 stocks rising [1] - The Shanghai Composite Index recorded a 13-day consecutive rise, setting a historical record, surpassing the previous 12-day record held for 33 years [1] Sector Performance - The commercial aerospace sector continued to surge, with over ten constituent stocks hitting the daily limit, including Lushin Investment, which achieved six limit-ups in eight days [1] - The brain-computer interface concept maintained its strong performance, with stocks like Sanbo Brain Science and Meihao Medical achieving consecutive limit-ups [1] - The financial sector collectively rose, with Huayin Securities and Dazhihui hitting the daily limit [1] - The intelligent driving sector also showed strength, with multiple stocks like Wanjitech and Luchang Technology hitting the daily limit [1] - The chemical sector saw gains, with stocks such as Zhongtai Chemical and Luhua Technology hitting the daily limit [1] - The non-ferrous metals sector was active, with companies like Luoyang Molybdenum and Zijin Mining reaching historical highs [1] Market Outlook - Factors supporting the current bull market remain unchanged, including policy support and a shift of household savings to the capital market, with increasing foreign investment interest in China's technological innovation [2] - Goldman Sachs has recommended overweighting Chinese stocks for 2026, predicting a 15% to 20% annual increase in the Chinese stock market for 2026 and 2027 due to significant valuation discounts compared to global peers [2] - The market is expected to transition from a cross-year trend to a spring offensive, with increased credit issuance in January likely to bring additional funds into the capital market [3] - The overall sentiment suggests that 2026 will be a year of significant opportunities, with expectations of improved market performance and investor sentiment [3] Policy Environment - Future policies may include more proactive fiscal measures and moderately loose monetary policies, with the Federal Reserve expected to continue its rate-cutting cycle, creating favorable conditions for China's central bank [5] - In a declining interest rate environment, equity assets are likely to perform well, and the renminbi is expected to appreciate, attracting more foreign capital into Chinese assets [5] Investor Sentiment - The spring offensive has begun, and investors are encouraged to maintain confidence and patience, focusing on quality stocks or funds to capitalize on the slow bull market opportunities [6] - The number of new A-share accounts has continued to rise, reflecting the market's vitality, with 27.44 million new accounts opened in 2025, a 9.75% increase from 2024 [6]

1月7日，三博脑科（301293.SZ）断板，早盘涨幅一度收窄近2%，随后强势拉升，维持震荡走势，截至 午间收盘，报94.57元/股，涨11.34%，成交额为57.3亿元，总市值为195亿元。 消息面上，1月6日晚，三博脑科发布异动公告，称公司目前不涉及脑机接口产品的研发、生产及销售， 神经调控技术带来的收入占公司营业收入比重很小，对公司业绩基本没有影响。 此前，受脑机接口设备量产等消息刺激，脑机接口板块掀起涨停潮。作为脑机接口概念股，三博脑科在 1月5日、1月6日均收获20cm涨停。期间，21财经《辟谣财知道》注意到，有网络帖文称其为"国内唯一 获批脑机接口临床植入许可的民营医院集团，累计完成300例脑机手术"，相关帖文被AI抓取到券商软件 的个股涨停分析后广泛传播。 对此，21财经·南财快讯记者以投资者身份致电三博脑科，接线工作人员回应称，已关注到相关帖文， 对于"国内唯一获批脑机接口临床植入许可的民营医院集团"这一说法，"据我这边了解应该不是，这些 信息应该是好多个东西杂糅在一起的"；而对于"完成300例脑机手术"，该工作人员澄清，"这个是假消 息"。 值得注意的是，前述澄清并不意味着三博脑科就脱离了脑 ...

Market Overview - The A-share market showed a strong performance with the Shanghai Composite Index approaching 4100 points, while the ChiNext Index and Shenzhen Component Index rose by 0.41% and 0.35% respectively, with a total trading volume of 1.85 trillion yuan, an increase of 538 billion yuan compared to the previous trading day [1] Semiconductor Sector - The semiconductor index rose by 2.20%, reaching 8181.14 points, with notable stocks such as ChipSource Microelectronics and Nanda Optoelectronics both increasing by 20% [2][3] Brain-Computer Interface Sector - The brain-computer interface sector continued to perform strongly, with companies like Innovation Medical and Nanjing Panda achieving three consecutive trading limit ups. Strong Brain Technology completed approximately 2 billion yuan in financing, marking it as the second-largest financing in the brain-computer interface field after Neuralink [4] Hong Kong Market - The Hong Kong market saw declines, with the Hang Seng Index and Hang Seng China Enterprises Index both dropping nearly 1%. Alibaba fell by nearly 4%, while companies like WuXi AppTec and China Life rose over 3% [5] Precious Metals Market - International precious metals experienced a downturn, with spot gold dropping below 4480 USD per ounce, while spot silver saw a slight decrease but maintained a year-to-date increase of 13% [6] Base Metals Market - The base metals market showed a strong performance, with SHFE nickel rising nearly 8% and SHFE tin increasing by nearly 6%. The LME copper reached a record high, driven by supply concerns [7]

南方财经1月7日电，三博脑科（301293.SZ）断板，早盘涨幅一度收窄近2%，随后强势拉升，维持震荡 走势。作为脑机接口概念股，三博脑科在1月5日、1月6日均收获20cm涨停。期间，21财经《辟谣财知 道》注意到，有网络帖文称其为"国内唯一获批脑机接口临床植入许可的民营医院集团，累计完成300例 脑机手术"，相关帖文被AI抓取到券商软件的个股涨停分析后广泛传播。21财经·南财快讯记者以投资者 身份致电三博脑科，接线工作人员回应称，已关注到相关帖文，对于"国内唯一获批脑机接口临床植入 许可的民营医院集团"这一说法，"据我这边了解应该不是，这些信息应该是好多个东西杂糅在一起 的"；而对于"完成300例脑机手术"，该工作人员澄清，"这个是假消息"。查看原文：已完成300例脑机 接口手术？三博脑科回应刚刚 ...

三博脑科 20260106 摘要 三博脑科前三季度净利润同比下降 20%，主要受去年同期非经常性利润 增加及新院区运营成本上升影响，但预计全年仍能完成年初目标。昆明 和西安新院区分别于 2025 年二季度和 9 月开业，虽初期受医保政策影 响收入有限，但运营情况乐观，为未来发展奠定基础。 三博脑科积极布局脑机接口技术，将其视为未来产业方向，并坚持医教 研一体化发展。公司通过临床需求端探索新技术产品，与清华大学联合 成立实验室，设立基金，投资 AI 脑电分析和柔性电极项目，推动技术与 产业结合。 三博脑科神经系统疾病治疗主要包括急诊创伤、功能神经疾病、颅脑肿 瘤和慢性病，占比分别为 20%、30%、50%。公司通过早期产品开发、 中期投资与股权合作、后期产品应用形成全链条布局，推动技术品牌与 业务产业协同。 面对民营医院的经营压力，三博脑科凭借完善的管理体系和技术品牌优 势，专注于神经外科为主的医疗服务，并优化新开院区运营，力求扭亏 为盈。脑机接口手术作为高风险四级手术，定价参照神经外科标准，耗 材费用另计，短期内允许自主定价。 Q&A 请介绍一下三博脑科在 2025 年度的经营情况以及业绩表现。 2025 年 ...

Core Insights - The brain-computer interface (BCI) sector is experiencing significant growth, highlighted by the recent completion of approximately 2 billion yuan financing by Qiangnao Technology, marking it as the second-largest financing in the field globally, after Neuralink [1][2] Industry Overview - The BCI sector has become the hottest investment track in the A-share market since the beginning of 2026, with multiple stocks such as Innovation Medical, Aipeng Medical, and Xiangyu Medical achieving consecutive trading limits [1] - The industry is currently driven by both policy support and technological breakthroughs, with expectations for Neuralink's large-scale production and automated surgical solutions marking a transition from clinical validation to commercial viability [3] Company Highlights - Qiangnao Technology, founded in February 2015, focuses on non-invasive BCI technology and has received FDA and CE certifications, making it one of the largest investors in BCI R&D globally [2] - The company has launched several products, including smart bionic limbs and brain-machine intelligent sleep devices, and has been recognized by TIME magazine as one of the best inventions of the year [2] Recent Developments - On January 6, multiple BCI stocks, including Sanbo Brain Science and Maillande, issued announcements regarding abnormal trading fluctuations, warning investors of potential risks [4][5][6] - Sanbo Brain Science, while experiencing significant stock price increases, clarified that it does not engage in BCI product development, and its revenue from neuro-regulation technology is minimal [4] - Maillande and Xiangyu Medical also reported that their BCI products are still in the R&D phase and have not yet achieved significant sales impact [5][6]

Group 1: Report Investment Ratings - The investment rating for the stock index is "volatile", and for the treasury bond is "relatively strong" [1] Group 2: Core Views - The market showed an upward trend with the Shanghai Composite Index rising above 4000 points and the ChiNext Index rising nearly 3%. The CSI A500 index rose over 2%, reaching a new high since January 2022. The A500ETF had significant net subscriptions, while the net short positions of the top 5 member units in IF increased. The relevant funds may not have significant net outflows after the New Year. In the short - term, the stock index is expected to remain within the oscillation range formed since October. The cumulative year - on - year revenue growth rate of the constituent stocks of the CSI 1000 in the third quarter was about 2.6%, which supports the current valuation and reduces the risk of liquidity. The spring rally may not be as intense as in previous years [1] - The main contracts of treasury bonds declined on Tuesday. The central bank conducted 16.2 billion yuan of 7 - day reverse repurchases, with a net withdrawal of 296.3 billion yuan. The short - term money market is reasonably abundant, which is the biggest support for the bond market, but the stable economy, rising inflation, and cautious attitude towards interest rate cuts pose certain constraints. The bond market is expected to remain range - bound in the short term [1][2] Group 3: Daily Price Changes Stock Index Futures | Variety | 2026 - 01 - 06 Price | 2026 - 01 - 05 Price | Change | Change Rate | | --- | --- | --- | --- | --- | | IH | 3,161.8 | 3,098.8 | 63.0 | 2.03% | | IF | 4,778.0 | 4,697.0 | 81.0 | 1.72% | | IC | 7,786.4 | 7,596.0 | 190.4 | 2.51% | | IM | 7,762.4 | 7,639.0 | 123.4 | 1.62% | [3] Stock Indexes | Variety | 2026 - 01 - 06 Price | 2026 - 01 - 05 Price | Change | Change Rate | | --- | --- | --- | --- | --- | | Shanghai Composite 50 | 3,158.8 | 3,099.7 | 59.0 | 1.90% | | CSI 300 | 4,790.7 | 4,717.7 | 72.9 | 1.55% | | CSI 500 | 7,814.1 | 7,651.2 | 162.9 | 2.13% | | CSI 1000 | 7,864.9 | 7,753.9 | 111.0 | 1.43% | [3] Treasury Bond Futures | Variety | 2026 - 01 - 06 Price | 2026 - 01 - 05 Price | Change | Change Rate | | --- | --- | --- | --- | --- | | TS | 102.37 | 102.41 | - 0.048 | - 0.05% | | TF | 105.57 | 105.71 | - 0.135 | - 0.13% | | T | 107.70 | 107.86 | - 0.155 | - 0.14% | | TL | 110.93 | 111.32 | - 0.39 | - 0.35% | [3] Group 4: Market News - On January 6, the Shanghai Composite Index had 13 consecutive positive days, reaching a ten - year high, with a 1.5% increase. The Shenzhen Component Index rose 1.4%, and the ChiNext Index rose 0.75%. The trading volume of the Shanghai and Shenzhen stock markets was 2.81 trillion yuan, an increase of 260.2 billion yuan from the previous trading day. The brain - computer interface sector had a daily limit surge, and sectors such as insurance, securities, and non - ferrous metals were also strong [4] - From 2024 to 2025, China achieved 18.3 million units of automobile trade - ins, with new energy vehicles accounting for nearly 60%, and 192 million units of home appliance trade - ins, with first - level energy - efficiency (water - efficiency) products accounting for over 90%. The trade - in policy drove consumer sales of 3.92 trillion yuan, benefiting 494 million consumers [4] Group 5: Chart Analysis Stock Index Futures - The report provides charts of the trends of IH, IF, IM, IC main contracts, and their respective monthly basis trends [5][6][7] Treasury Bond Futures - The report provides charts of the trends of treasury bond futures main contracts, treasury bond spot yields, basis of different - term treasury bond futures, inter - period spreads of different - term treasury bond futures, cross - variety spreads, and money market rates [12][13][14] Exchange Rates - The report provides charts of the central parity rates of the US dollar, euro against the RMB, forward exchange rates of the US dollar and euro against the RMB, US dollar index, euro - US dollar exchange rate, pound - US dollar exchange rate, and US dollar - yen exchange rate [21][22][23]