脑机接口板块大涨，建议加强重视十五五规划医疗科技方 向 20251225 摘要 中国在脑机接口领域处于全球相对领先地位。中国拥有大量医院和病人资源， 积极推动先进疗法的临床试验。此外，中国在医疗器械制造方面积累了丰富经 验，有望实现厚积薄发。目前，中国有许多团队从事脑机接口研究，数量甚至 可能超过美国。未来，中国有望涌现出具有全球竞争力的脑机接口公司，并逐 步走向国际市场。 目前有哪些公司在布局脑机接口领域？ 在上游零部件供应方面，美好医疗等公司为脑机接口企业提供代工服务。在康 复医疗器械领域，公司如翔宇医疗、迈兰德、韦斯和诚益通等都在积极布局。 此外，下游医院如三博脑科也非常重视这一方向。在非侵入式脑机接口方面， 强脑科技等公司备受关注。一级市场中，如博瑞康等公司也被寄予厚望，有望 通过上市形成更强的板块效应。 明年（2026 年）可以期待哪些政策支持？ 中国脑机接口领域发展迅速，受益于庞大的医院和病人资源以及医疗器 械制造经验，涌现出众多研究团队，数量或超美国，未来有望出现具全 球竞争力的公司。 政策支持力度加大，预计 2026 年将迎来国家顶层设计、资金支持以及 药监局绿色通道等多方面政策利好，加速产品 ...

Core Viewpoint - The company has developed a multimodal ADHD behavior training system that connects data between in-hospital behavior training centers and at-home training scenarios, utilizing scientific EEG monitoring and multimodal intervention training to help children improve hyperactivity and attention deficit behaviors, enhancing focus [2] Group 1 - The company possesses a deep technical reserve in anesthesia depth monitoring, being one of the few in China to master anesthesia depth index monitoring, which is crucial for perioperative monitoring, diagnosis, and early warning applications [2] - The company has launched a stubborn insomnia anesthesia treatment system designed to meet clinical needs for stubborn insomnia, integrating both hardware and software to support clinical treatment through intelligent interaction between doctors and patients [2] - The company plans to advance clinical innovative applications in perioperative brain state monitoring, ADHD, sleep disorders, and epilepsy among other mental health conditions [2]

（文章来源：证券日报） 证券日报网讯 12月25日，爱朋医疗在互动平台回答投资者提问时表示，公司计划参加2025深圳国际脑 机接口创新技术展览会，以加强与行业的交流合作。 ...

Group 1: Company Overview - Aipeng Medical focuses on medical devices, particularly in pain management and upper airway management, while also exploring brain-computer interface (BCI) innovations [3] - The company has a strategic partnership with Ruishen'an Medical, a leading player in the domestic neuroregulation field [3] Group 2: Product Registration and Classification - The company has obtained three Class III medical device registration certificates for its perioperative brain state monitoring product [6] - The multi-modal ADHD behavior training system includes two Class II medical device registration certificates for its hospital and home versions [6] Group 3: Pricing and Reimbursement - The non-invasive BCI adaptation fee is set at 966 RMB per session in regions like Hubei, Zhejiang, and Jiangsu [7] - New regulations from the National Medical Insurance Administration have established a "green channel" for innovative medical products, including BCIs, to expedite clinical practice and application [7] Group 4: Technology and Market Strategy - The company prioritizes the commercialization of non-invasive BCI technologies while considering the strategic integration of high-barrier invasive technologies [5] - The company’s product offerings include a comprehensive system for treating stubborn insomnia, which integrates diagnostic, treatment, and monitoring solutions [8][9] Group 5: Commercialization and Research Initiatives - The ADM series anesthesia depth monitoring products have been launched, but revenue remains modest [10] - Aipeng Medical has established an AI and BCI research institute to drive technological innovation and clinical application in pain management, anesthesia, and mental health [10]

Q&A 爱鹏医疗在脑机接口领域的具体布局是什么？ 爱鹏医疗在脑机接口领域的布局涵盖了多个方面，主要包括疼痛管理和鼻腔上 呼吸道业务，同时在多模态精确给药和脑机接口应用方面也有显著进展。目前， 公司在非侵入式脑机接口方面已经实现了大约 1,000 万元的收入，并且在市场 培育和路径探索中也有相关业务布局。 公司成立了 AI 及脑机工程研究院，研 究院由外部专家如瑞金医院的徐教授、邹教授和梁教授组成，他们与爱鹏在临 床和学术研究上有广泛合作。研究院朱总拥有多年西门子美敦力等公司的经验， 而彭瑞的贺总和宋总则来自北大系，在三星电子、中科创达等领域积累了丰富 研发经验。 爱鹏医疗在脑机接口医疗应用中的主要方向包括以下几个方面： 爱朋医疗 20251224 摘要 爱鹏医疗已在脑状态监测领域实现商业化，麻醉监测产品覆盖 100 多家 医院，收入达 1,000 万元，并积极拓展睡眠等领域应用，市场潜力巨大， 预计国内麻醉深度监测市场规模可达 40 亿元每年。 针对顽固性失眠，爱鹏医疗推出包括 PSG 监测、镇静治疗、耳甲迷走神 经刺激等综合解决方案，临床数据表明疗效显著，已进入商业化阶段并 获得多家医院采购，出院后跟踪巩固 ...

有投资者在互动平台向爱朋医疗提问："会议倒计时︱第五届脑科学前沿与产业大会暨2025深圳脑机接 口博览会（12月28-30日，深圳）贵公司去参加？" 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 针对上述提问，爱朋医疗回应称："您好，公司计划参加上述博览会，以加强与行业的交流合作。感谢 您对公司的关注。" ...

Investment Rating - The industry investment rating for the pharmaceutical and biotechnology sector is "Hold" [2]. Core Insights - The report highlights significant breakthroughs in the domestic brain-computer interface (BCI) technology, indicating an acceleration in industry development and international recognition [5]. - The report emphasizes the transition of invasive brain-computer interfaces from laboratory settings to market approval processes, suggesting a rapid expansion of application scenarios [6]. Summary by Relevant Sections Industry Overview - The report discusses the recent advancements in invasive brain-computer interface technology, including the first domestic medical device entering the FDA's breakthrough therapy pathway, which enhances the international recognition of China's BCI technology [5]. - It mentions successful clinical trials using high-throughput wireless invasive BCI systems, enabling patients with high-level paralysis to control smart wheelchairs and robotic dogs through brain signals, achieving a 15%-20% improvement in brain control performance [5]. Investment Recommendations - The report suggests focusing on companies such as Innovation Medical, Aipeng Medical, and Sanbo Brain Science, as they are positioned to benefit from the advancements in the BCI sector [6].

格隆汇12月24日｜A股市场脑机接口概念股拉升，其中，南京熊猫一度触及涨停，狄耐克、爱朋医疗、 创新医疗、岩山科技、诚益通等跟涨。 ...

Market News - The three major US stock indices closed higher, with the S&P 500 up 0.64%, Nasdaq up 0.52%, and Dow Jones up 0.47%. Major tech stocks had mixed results, with Tesla and Nvidia rising over 1%, while Intel and Netflix fell over 1% [1] - International oil prices increased, with WTI crude oil rising 2.48% to $57.92 per barrel and Brent crude oil rising 2.38% to $61.48 per barrel. Gold prices also surged, with spot gold reaching a record high of $4449.16, up 2.42% [1] Industry Insights - The National Space Administration is establishing a virtual observation constellation for commercial remote sensing satellites to enhance emergency disaster observation capabilities. This initiative aims to improve data acquisition efficiency and satellite utilization [2] - The satellite communication industry is projected to exceed 200 to 400 billion yuan by 2030, with an annual compound growth rate of 10% to 28%. The industry is transitioning from concept validation to large-scale application, driven by technological maturity and cost reduction [2] - The humanoid robot industry is expected to see significant growth, with an estimated shipment of 5,000 units by 2025 and nearly 60,000 units by 2030, reflecting a compound annual growth rate of over 95% [3] - The brain-computer interface (BCI) medical device market is projected to reach $40 billion by 2030 and $145 billion by 2040, indicating substantial potential in the healthcare sector for treating neurological disorders [4][5] Company Updates - Tianyin Electric announced that its general manager plans to reduce his shareholding by up to 155,810 shares, representing 0.37% of the total share capital [6] - Invech disclosed that a shareholder intends to reduce its stake by up to 549,490 shares, approximately 0.56% of the total share capital [6] - China National Foreign Trade announced that its executives plan to reduce their holdings by a total of approximately 19,240 shares [6] - Hongqi Chain reported that a major shareholder intends to reduce its stake by up to 13.6 million shares, not exceeding 1% of the total share capital [6] - Yuehai Feed announced plans for significant share reductions by its controlling shareholder and executives, totaling up to 20.9 million shares [6]

Core Viewpoint - The company Aipeng Medical (300753) is focusing on the development of a multimodal ADHD behavior training system that connects data between in-hospital behavior training centers and at-home training scenarios, utilizing scientific EEG monitoring and multimodal intervention training to help children improve hyperactivity and attention deficit behaviors, thereby enhancing concentration [1] Group 1 - The company has developed a multimodal ADHD behavior training system that integrates data from both hospital and home environments [1] - The system employs scientific EEG monitoring and multimodal intervention training methods to assist children in improving hyperactivity and attention deficit behaviors [1] - The company possesses advanced technology in anesthesia depth monitoring, being one of the few in China to master anesthesia depth index monitoring [1] Group 2 - Aipeng Medical has launched a stubborn insomnia anesthesia treatment system designed to meet clinical needs for treating persistent insomnia, combining hardware and software solutions [1] - The system addresses the digital interaction needs between doctors and patients both in and out of the hospital, providing strong support for clinical treatment [1] - The company plans to advance clinical innovative applications in perioperative brain state monitoring, ADHD, sleep disorders, and epilepsy treatment [1]