Data Elements - The State Council approved the draft "Regulations on Government Data Sharing," aiming to break down data barriers while ensuring data security, promoting public services, and enhancing economic development [1] - The National Development and Reform Commission released the "China Business Environment Development Report (2025)," highlighting data as a core driver of economic innovation [1] - The advancement of government data sharing is expected to benefit data governance service providers and privacy computing technology companies, with a focus on cloud computing, big data platforms, and data security technology [1] Brain-Computer Interface - Fudan University launched China's first online platform for "Brain-Computer Interface Patents and Intellectual Property" during the "2025 Pujiang Innovation Forum" [2] - The brain-computer interface technology is seen as a strategic point in global tech competition, reshaping brain science research and offering breakthroughs in brain disease treatment [2] - The industry is in its early stages of commercialization, with significant support from the government leading to growth in market size, number of companies, and technological innovation [2] Solid-State Batteries - The 17th Shenzhen International Battery Technology Exchange and Expo (CIBF2025) will take place from May 15 to 17, focusing on advanced battery technologies [3] - Companies like Guoxuan High-Tech and Better Ray are set to launch new solid-state battery products, coinciding with accelerated overseas production and domestic material capacity [3] - Solid-state batteries are expected to meet the growing performance demands in various emerging industries, with significant market growth potential anticipated in the coming years [3] National Economic Development Zones - The State Council is advancing reforms in national economic and technological development zones to promote high-level opening and high-quality development [4] - The zones are transitioning from traditional manufacturing bases to open, innovative, and green economic hubs, with new business models emerging in data cross-border flow and green finance [4] - By 2025, the total output value of national economic development zones is projected to reach 15 trillion yuan, accounting for 20% of national GDP [4] 5G-A Technology - 5G-A (5G-Advanced) is gaining visibility among consumers, enhancing coverage in dense areas and industrial applications [5] - As an upgraded version of 5G, 5G-A is expected to increase speeds by tenfold and redefine communication boundaries, driving growth in smart manufacturing and low-altitude economies [5] - Investment in 5G-A in China is projected to reach 120 billion yuan by 2025, stimulating growth in related industries such as chips and base stations [5] Energy Storage - A breakthrough in bionic self-generating energy storage concrete technology has been achieved, which can generate electricity in temperature-variable environments [6] - This technology addresses the instability of clean energy supply and offers a low-carbon solution for the construction industry [6] Semiconductor Industry - Nvidia plans to launch a downgraded version of its H20 AI chip in response to U.S. export restrictions, aiming to maintain its market presence in China [7] - The downgraded chip will have reduced specifications, particularly in memory capacity, but may still be adjustable by downstream customers [7] - Nvidia's revenue from the Chinese market was $17 billion last fiscal year, accounting for 13% of total sales [7] Robotics - The humanoid robot startup Songyan Power introduced a new female humanoid robot named Xiaonuo, featuring advanced interaction capabilities and customizable appearances [8] - The sales of humanoid robots are expected to accelerate, potentially leading to a market scale exceeding 10 billion yuan by 2025, capturing over 50% of the global market [8]

证券研究报告 | 行业周报 gszqdatemark 2025 05 10 年 月 日 医药生物 【周专题&周观点】【总第 396 期】产线齐全、技术领先，国产血净龙头绘新篇 一、当周（5.6-5.9）回顾与周专题： 当周（5.6-5.9）申万医药指数环比+1.01%，跑输创业板指数，跑输沪深 300 指数。本 周周报，我们梳理了威高血净招股书，供各位投资者参考。 二、近期复盘： 1、当周表现：本周市场（节后交易四天）在过节期间多个利好刺激下，高开后连续震 荡。医药指数这边，走势类似。结构上看，脑机接口、外骨骼机器人、部分减肥链、少 量低位创新药有相对亮眼表现，其他都是个股逻辑为主，前期强势的大部分创新药标的 有所回调。 2、原因分析：本周市场高开主要受五一节期间多个利好刺激带动。节后，前期调整了 一段时间的科技风格资产回归，创新药资金被分流（近期创新药和其他科技资产"跷跷 板"），叠加美国那边部分信息扰动（关税、药价、FDA 等），大部分创新药标的在本周 有所回调。因为科技风格资产反弹，受市场风格映射影响，脑机接口、外骨骼机器人等， 表现亮眼。部分减肥链偏主题标的表现较好，其他表现好的都是个股逻辑，虽然这周 ...

Core Viewpoint - The article highlights the recent funding rounds completed by "Aosha Intelligent," a developer of exoskeleton robots, aimed at expanding its consumer-grade product line, upgrading core technologies, and global industrial deployment, thereby strengthening its competitiveness in both industrial and consumer markets [1]. Company Overview - Aosha Intelligent, established in 2018, focuses on the research and commercialization of exoskeleton robots. The company has participated in significant events such as the filming of "The Wandering Earth 2" and provided logistics support for the 2023 Hangzhou Asian Games, receiving coverage from major media outlets [1]. - The founder and CEO, Xu Zhenhua, has a background in mechanical engineering and experience in leading roles at major industrial companies, contributing to the establishment and operation of two other robotics firms [1]. Product Development - Aosha Intelligent has developed a comprehensive product line that includes upper limb, waist, lower limb, and full-body exoskeletons, achieving ISO9001 and EU CE certifications. The products are applied in various sectors such as equipment manufacturing, aviation logistics, energy, mining, tourism, and elder care, with strategic partnerships with several international brands [1]. - The company has established a sales network in 17 countries and regions, including Germany, Canada, UAE, Singapore, Thailand, and Malaysia, demonstrating strong commercialization capabilities [1]. Research and Development - The company invests over 70% of its resources in R&D, focusing on AI model training capabilities and real-time data interaction for its latest products. New consumer-grade exoskeleton robots are entering the trial and mass production stages [3]. - Aosha Intelligent is also exploring brain-machine interface research and plans to launch next-generation products that integrate neural signal recognition to enhance human-machine collaboration accuracy [3]. Market Strategy - In the consumer market, Aosha Intelligent collaborates with well-known scenic spots and health care institutions to explore new applications for outdoor assistance and home elder care. The recent funding will accelerate the mass production of consumer-grade exoskeleton robots and promote the integration of exoskeleton hardware with AI technology [4]. - The company aims to introduce several consumer-grade exoskeleton robot products this year, breaking the boundaries of science fiction and making advanced technology accessible to the public [6].

3、 INBRAIN Neuroelectronics获400万欧元资助 近日，临床阶段神经技术公司INBRAIN Neuroelectronics宣布，获西班牙工业和旅游部"PERTE芯片"计划 400万欧元资助。据了解，INBRAIN Neuroelectronics致力于开发基于石墨烯的脑机接口技术，可实时解 码与调节脑活动。其技术平台能为帕金森病、中风康复等提供精准神经调节方案。公司首席执行官称，此 资助将加速精准神经技术开发，变革神经系统疾病治疗。加泰罗尼亚商业与劳工部长也表示，INBRAIN Neuroelectronics代表前沿创新力量，巩固了相关领域领导地位。目前，INBRAIN的BCI - Tx平台已获FD A突破性医疗器械认证，正与合作伙伴拓展技术应用。 4、 OpenAI被曝削减微软收入分成 1、 谷歌推出 Gemini 2.5 Pro Preview（I/O 版） 近日，谷歌推出旗舰产品 Gemini 2.5 Pro AI 模型的升级版 Gemini 2.5 Pro Preview（I/O 版）。谷歌称该 模型在多项主流基准测试中表现优异。用户可通过 Gemini API 及谷歌的 ...

Core Insights - Recent breakthroughs in brain-computer interface (BCI) technology have triggered a strong market response in related sectors in A-shares [2] - The global BCI market is projected to grow from $2.35 billion in 2023 to $10.89 billion by 2033, with a compound annual growth rate (CAGR) of 16.55% [2] - Domestic BCI market is expected to exceed 120 billion yuan by 2040, with a CAGR exceeding 26% [2] Technological Developments - The CyberSense robot developed by the Chinese Academy of Sciences can implant flexible microelectrodes into animal brains with precision, supporting BCI and neurophysiology research [2] - Neuralink's BCI device Link has received "breakthrough device" certification from the FDA, marking a significant step towards clinical applications for patients with speech impairments due to various diseases [2][3] - The core technologies of BCI include high-precision brain signal acquisition, efficient neural signal decoding algorithms, biocompatible materials, microelectronics, and complex operating systems [3] Policy and Market Support - Continuous policy support in China is driving the development of BCI technology and applications, with multiple regulations introduced by 2025 [3] - The State Council has prioritized the review and approval of high-end implantable medical devices related to BCI [3] - New pricing projects for BCI services have been established, providing a regulatory framework for medical charges related to invasive and non-invasive BCI procedures [3] Market Performance - BCI-related stocks have shown strong performance, with companies like Qisheng Technology seeing a stock price increase of 46.45% as of May 9 [5] - The "Manufacturing Outbound" index rose nearly 5% this week, with significant contributions from communication equipment and marine equipment sectors [6] - Other indices such as "Electric New Outbound" and "TMT Outbound" also experienced gains of approximately 4% [6]

Group 1: Industry Overview - The smart manufacturing sector is experiencing a competitive landscape where international giants dominate the high-end market, while local companies seek differentiation [2][3] - The rehabilitation medical device industry faces short-term adjustment pressures but is transitioning towards quality-based competition due to stricter regulations and market purification mechanisms [3] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 958 million, with a net profit attributable to shareholders of CNY 96.54 million [7] - Revenue from the smart manufacturing segment decreased by 21.85% year-on-year, while the rehabilitation medical segment saw a decline of 9.73% [16] Group 3: Strategic Initiatives - The company is focused on a "dual-wheel drive" strategy, enhancing its product matrix in smart manufacturing while expanding into emerging sectors like biomanufacturing and food [5][12] - In the rehabilitation medical field, the company aims to build a high-value product system and penetrate grassroots medical markets [5][12] Group 4: Product Development and Innovation - The company has established a dual-track strategy for brain-computer interface (BCI) development, focusing on both invasive and non-invasive technologies [10][11] - Three prototypes of rehabilitation devices integrating BCI technology were successfully launched in July 2024, with plans for market registration [8][9] Group 5: Market Challenges and Responses - The company faces challenges from reduced capital expenditure willingness among clients and structural demand fatigue, impacting order delivery cycles [16] - To mitigate these challenges, the company is tightening cash flow management and optimizing funding safety margins [16]

半导体板块低迷，影视、AI应用、脑机接口、机器人、零售板块跌幅居前；ST板块持续活跃，纺织制造、美容护理、 银行、电力板块涨幅居前，多只银行股股价创新高。全市场超4000只个股下跌。 5月9日，A股三大指数全天弱势震荡。截至收盘，沪指跌0.30%，深证成指跌0.69%，创业板指跌0.87%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | Www 3342.00 | | -10.00 | -0.30% | | 399001 | 深证成指 | 10126.83 | | -70.83 | -0.69% | | 399006 | 创业板指 | prim | 2011.77 | -17.68 | -0.87% | 净流出方面，中航成飞、供销大集、中芯国际遭抛售15.24亿元、10.60亿元、9.70亿元。 【机构观点】 ST板块反复活跃，ST雪发、ST尔雅、*ST和科等超20股涨停。 【资金流向】 主力资金全天净流入汽车整车、能源金属、煤炭等板块，净流出半导体、航天航空等板块。 具体到个 ...

收评：沪指缩量调整跌0.3% 银行、ST板块逆势走强 智通财经5月9日电，市场全天震荡调整，创业板指领跌。沪深两市全天成交额1.19万亿，较上个交易日缩量1014亿。盘面上，市场热点较为杂乱，个股跌多 涨少，全市场超4000只个股下跌。从板块来看，银行股逆势走强，建设银行、江苏银行等盘中再创历史新高。ST板块持续活跃，ST雪发等20余股涨停。纺 织概念股集体大涨，万事利等涨停。下跌方面，芯片股展开调整，华虹公司跌近10%。板块方面，纺织、美容护理、银行、ST等板块涨幅居前，半导体、影 视、智谱AI、脑机接口等板块跌幅居前。截至收盘，沪指跌0.3%，深成指跌0.69%，创业板指跌0.87%。 | 上证指数 | | 深证成指 | 创业板指 | | --- | --- | --- | --- | | ·3342.00 | | -10126.83 | ·2011.77 | | -10.0 11 | -0.30% | -70.83 -0.69% THE RESEARCH WANT OF AND | -17.68 -0.87 | 洲宁衣现 封板率 56.00% 封板 33 触及 26 昨涨停今表现 0.54% 高开率 5 ...

新华财经北京5月9日电（记者闫鹏）中信证券主办的2025年杭州"智能新时代"论坛5月8日-9日举行。本 次论坛为中信科技金融专项行动，汇聚了来自半导体、人工智能、机器人、智能驾驶、AI医疗等领域 的20余位行业领军人物，包括头部独角兽企业创始人、上市公司高管及资深行业专家，共同探讨科技创 新前沿趋势与投资机遇。 （文章来源：新华财经） 中信证券制造产业首席分析师刘海博表示，2025年将成为具身智能机器人产业的量产元年，具身智能机 器人是AI与物理世界的重要结合，其量产及场景的开拓试验性应用宣告了人工智能AGI和机器人产业的 深度融合，推动新一轮的产业革命。全球政府、科技制造巨头、产业链企业、科研机构及资本均已聚焦 和躬身入局，呈现出百舸争流的竞赛之势。不同时代与技术背景的机器人整机公司、具身模型软件方、 总成、核心零部件及下游场景企业，共铸产业生态多元化，中国企业在产业链各环节均有布局，中国制 造是全球机器人硬件降本的重要支撑，具备比较优势。庞大且复杂的场景落地是具身智能机器人发展的 有效试验场，当具身智能的"DeepSeek时刻"出现，具身智能机器人的爆发将成就下一阶段的科技产业浪 潮。 中信证券研究部同步 ...

脑机接口概念股午后持续走低，爱朋医疗（300753）跌近10%，均普智能跌超7%，荣泰健康 （603579）跌超6%，诚益通（300430）、三博脑科（301293）、翔宇医疗跟跌。 ...