截至2025年6月30日， 思宇MedTech整理了 112起 医疗器械相关融资事件，发现"热度还在"只是表象， 真 正值得关注的，是资本的逻辑变了： 从拼概念，转向看路径；从讲创新，回归到落地 。 2025年上半年，医疗器械领域投融资进入了更"现实主义"的阶段。 有意思的是，这轮调整并不是"退烧"，而是一次更现实主义的筛选：注册在走吗？产品进院了吗？是否真的 能撑起一个商业模型？能答上这些问题的项目，才有可能继续拿到钱。 # 钱投在哪儿？ 节奏、轮次、披露趋势全梳理 上半年112起融资事件中，有三件事值得注意： 一个小观察：从统计看，只有不到20%的项目愿意详细披露融资金额，且越早期披露意愿越低。大家都还 在"往前走"，但更谨慎，也更现实。 # 谁在拿钱？三个方向值得特别留意 结合企业业务类型和投融资背景，可以发现，今年被资本选中的企业，往往具备三个共性： 清晰的使用场 景、相对明确的注册路径、能讲通的商业逻辑 。从赛道来看，有三个方向持续受到关注： 补位"术式"的产品正在加速获投 脑机接口、手术机器人、外骨骼、术中导航等"术式重构型产品"获得多轮融资。 它们的共同特点是——不 是"替代"什么已有产品，而是 ...

字节首个AI医疗助手独立App"小荷AI医生"已于近日上线，从产品定位看，这是一个健康管家，能够实 现健康问题咨询和报告解读等服务。(36氪) ...

诺禾致源688315 时间: 2025年7月8日星期二 趋势方向 主力成本分析 14.63 元 当日主力成本 14.27 元 5日主力成本 13.72 60.64分综合得分 较强 元 20日主力成本 13.84 元 60日主力成本 周期内涨跌停 过去一年内该股 涨停 1次 北向资金数据 | 持股量122.39万股 | 占流通比0.29% | | --- | --- | | 昨日净买入6.66万股 | 昨日增仓比0.016% | | 5日增仓比-0.167% | 20日增仓比-0.076% | 技术面分析 14.37 短期压力位 14.03 短期支撑位 跌停 0 次 14.37 中期压力位 12.86 中期支撑位 股价突破短期压力位，短线有望走强； 股价突破中期压力位，中线有望走强 K线形态 暂无特殊形态 资金流数据 2025年07月08日的资金流向数据方面 | 主力资金净流入41.26万元 | | --- | | 占总成交额0% | | 超大单净流入0.00元 | | 大单净流入41.26万元 | | 散户资金净流出201.07万 | 关联行业/概念板块 医疗服务 2.18%、医疗器械概念 0.97%、基因测 ...

步科股份688160 时间: 2025年7月8日星期二 41.39分综合得分 偏弱 趋势方向 主力成本分析 81.94 元 当日主力成本 83.02 元 5日主力成本 83.68 91.09 元 60日主力成本 周期内涨跌停 过去一年内该股 涨停 元 20日主力成本 0次 跌停 1 次 北向资金数据 持股量47.90万股 占流通比0.57% 昨日净买入8.70万股 昨日增仓比0.104% 5日增仓比-0.189% 20日增仓比-0.776% 技术面分析 85.81 短期压力位 79.91 中期压力位 79.61 中期支撑位 目前短线趋势不慎明朗，静待主力资金选择方向； 目前中期趋势不慎明朗，静待主力资金选择方向 K线形态 暂无特殊形态 资金流数据 2025年07月08日的资金流向数据方面 主力资金净流入2212.77万元 占总成交额26% 超大单净流入1125.70万元 大单净流入1087.07万元 散户资金净流入42.74万 关联行业/概念板块 短期支撑位 86.90 专用设备 1.00%、工业互联 1.22%、物联网 1.30%、医疗器械概念 0.97%等 （以上内容为自选股写手差分机完成，仅作为用户看盘 ...

Group 1 - The core risk of the company lies in the mismatch between its "digital healthcare facade" and "pharmaceutical wholesale core," revealing structural vulnerabilities in its business model [2] - The majority of revenue is derived from low-margin wholesale sales of pharmaceutical health products, with a shrinking proportion of high-margin digital healthcare solutions, leading to a negative cash flow situation [2] - The company has experienced continuous negative operating cash flow for four years due to high inventory costs, which consume 90% of sales and service costs [2] Group 2 - User engagement has deteriorated, with average monthly active users dropping from 3.9 million in 2021 to 3 million in 2024, indicating a decline in platform attractiveness [3] - Cumulative losses over three and a half years amount to 460 million yuan, with losses expanding to 83.26 million yuan in the first half of 2024 [4] - The IPO represents a race against time for the company, focusing on whether it can attract investors with its "largest digital healthcare platform" narrative and whether it can transform its user base into high-margin digital service revenue [4]

Market Overview - The A-share pharmaceutical and biotechnology index rose by 3.64%, outperforming the CSI 300 index by 2.10 percentage points and the ChiNext index by 2.75 percentage points, ranking 4th among 31 sub-industries [3] - The Hong Kong Hang Seng Healthcare Index increased by 5%, surpassing the Hang Seng Index by 6.75 percentage points [3] Key Insights - The National Medical Products Administration (NMPA) has released measures to support the innovation and development of high-end medical devices, including medical robots, advanced imaging equipment, AI medical devices, and new biological materials [4] - The policy is expected to accelerate the commercialization of innovative medical device products, with a comprehensive standard system gradually being established for design, production, and post-market regulation [4] - The policy also encourages high-end medical device companies to expand internationally, which is anticipated to promote standardization and internationalization within the industry [4] - Companies with strong R&D capabilities, leading product scales, and advanced international strategies are expected to benefit from these developments [4] Investment Strategy - The investment strategy for 2025 emphasizes structural selection of investment opportunities based on the payment perspective, considering the complex trends in population structure, policy framework, and economic environment [5] - The focus is on three payment channels within the pharmaceutical industry: hospital payments, out-of-pocket payments, and overseas payments, with particular attention to policy support for innovative drugs and devices, expanding public demand, and rising overseas cycles [6]

在医疗费用持续攀升的今天，一份可靠的百万医疗险已成为家庭健康管理的刚需。2025年，复星联合健 康保险推出的星相守百万医疗险凭借20年全责任保证续保、无清单限制的外购药报销、特需医疗普惠化 等核心优势，从众多产品中脱颖而出，被权威媒体评为"年度最值得推荐的百万医疗险"。本文将深度解 析其如何以创新设计解决用户痛点，并为不同人群提供定制化投保方案。 一、行业痛点：为什么星相守成为市场标杆？ 近年来，百万医疗险市场虽产品繁多，但用户仍面临三大核心问题： 续保不确定性：多数产品仅主险保证续保，附加责任(如外购药)可能随时调整，导致长期保障缺位； 医疗资源紧张：公立医院普通部排队难，而特需医疗险往往价格高昂或续保不稳定； 外购药报销限制：DRG改革下，43%的特药需院外自购，但多数产品限定药品清单，患者面临"有药无 保"困境。 星相守的诞生，正是对这些痛点的系统性回应。其设计理念围绕"全周期确定性"与"医疗自由化"展开， 成为行业革新标杆。 二、五大核心优势：星相守如何重新定义保障标准？ 1. 20年全责任保证续保：行业唯一"铁饭碗" 针对肿瘤靶向药、CAR-T疗法等高价特药，星相守基础责任即覆盖400万保额的外购药 ...

Group 1 - The Hang Seng Index rose by 1.09%, the Hang Seng Tech Index increased by 1.84%, and the National Enterprises Index gained 1.16% [1] - Cryptocurrency-related stocks continued to rise, with Guotai Junan International (01788.HK) surging over 28% [1] - The photovoltaic sector saw gains, with GCL-Poly Energy (03800.HK) rising more than 10% [1] Group 2 - The internet healthcare sector experienced a midday surge, led by JD Health (06618.HK) [1] - Other sectors such as new consumption, education, Chinese brokerage firms, and Apple-related stocks also saw increases [1] - Conversely, sectors like port transportation, logistics, environmental protection, and electricity experienced declines [1] Group 3 - Individual stock performance included Jinyong Investment (01328.HK) which surged by 533%, surpassing a market capitalization of 3 billion HKD [1]

Core Viewpoint - The healthcare landscape in Foshan is undergoing significant transformation driven by competition among public hospitals, private capital, and external players, focusing on patient acquisition, talent, and resource allocation [1][7]. Group 1: Expansion of Healthcare Resources - Over the past five years, the number of beds in Foshan's tertiary hospitals has increased by over 40%, highlighting a rapid expansion of healthcare resources [3]. - The new Green Island Lake campus of the Second Municipal Hospital, with an investment of 3.375 billion and 1,200 beds, aims to address the healthcare needs of 550,000 residents in the western region of Foshan [3]. - The strategy of "westward expansion" has become a common approach among Foshan's tertiary hospitals, with various institutions collaborating to enhance regional emergency response capabilities [4]. Group 2: Challenges in Healthcare Efficiency - The competition has led to inefficiencies and a struggle for balance between expansion and survival among local leading hospitals [4]. - The First Municipal Hospital's management has expressed concerns over resource allocation, as the emergency department faces increased patient volume due to ineffective referrals from grassroots facilities [4]. - The current healthcare model shows a disparity where primary care accounts for 57.96% of total diagnoses, falling short of the 65% target for 2025 [4]. Group 3: Talent Acquisition and Competition - The competition for top medical talent has intensified, with hospitals offering substantial financial incentives, such as 300,000 yuan in living and housing subsidies for experts [5]. - The trend of medical professionals moving to grassroots hospitals for greater autonomy reflects a shift in career aspirations away from traditional tertiary institutions [5]. - Private capital is also entering the talent acquisition battle, with institutions like Heyou Hospital customizing career paths for healthcare professionals [5]. Group 4: Innovative Survival Strategies for Grassroots Hospitals - Grassroots hospitals are developing unique survival strategies to thrive amidst competition, focusing on localized capabilities rather than merely chasing tertiary hospital ratings [6]. - Zhangcha Hospital has seen an 800% increase in traditional Chinese medicine services by leveraging community health stations [6]. - The establishment of the Foshan University Affiliated Third Hospital through the merger of three district-level hospitals aims to enhance resource integration [6]. Group 5: The Role of Private Capital - The healthcare sector in Foshan is experiencing a dichotomy, with small private institutions struggling while larger private entities leverage technology to reshape industry dynamics [7]. - Heyou Hospital's investment of 10 billion yuan in non-profit healthcare, utilizing AI throughout the treatment process, challenges the perception that private healthcare is synonymous with high costs [7]. - The success of Zen Medical in becoming a leading non-public hospital demonstrates the importance of combining technological capabilities with high-quality service to rebuild patient trust [7]. Group 6: Future of Healthcare in Foshan - The ultimate success of Foshan's healthcare landscape will depend on balancing public welfare with efficiency, expansion with equity, and competition with collaboration [7]. - The ability to provide accessible and suitable healthcare services to every citizen will determine the effectiveness of the healthcare highland being developed in Foshan [7].

在帮助医生提升信息处理的效率上，豆包大模型还在深入更多场景。 医疗，是与人们日常生活关联最紧密的 AI 落地场景之一。 在优质医疗资源的稀缺性问题上，互联网帮助患者在更大范围内匹配到了医生。现在，大模型更进一 步，带来了从供给端改变医疗资源紧张的契机。 对医院来说，一个最直接的问题是：医生的精力有限，即便加班加点，接诊量、学习时间也很有限。对 此，北京美中爱瑞肿瘤医院积极探索用 AI 重塑医院流程——围绕医生在临床、科研、教学等业务和管 理活动，依托火山引擎提供的豆包大模型、HiAgent 等 AI 产品和解决方案，来提高医生作业效率和患 者治疗体验。 当豆包大模型，成为临床医生的「医助」 通常情况下，肿瘤病人病情复杂、病程长。当患者来见医生时，会带很多过往的病历资料，再由医生花 费20-30分钟来梳理、记录病程。如何减少医生处理信息消耗的时间、把更多时间放在诊疗上？ 美中爱瑞接入豆包大模型，搭建了「AI 预问诊」智能体。患者挂号后，可以在「到诊通知页面」，把 过往的病史信息和相关资料拍照上传。当患者到诊看病时，豆包大模型直接将资料结构化总结给医生。 医生据此针对性地提问、深度沟通治疗方案，把更多时间放在问诊 ...