今日导读 1.今日收盘后，富时罗素对富时中国50指数、富时中国A50指数、富时中国A150指数、富时 中国A200指数及富时中国A400指数的季度审核变更生效。 2. 6月19日，阿里云宣布将于本月底在韩国启用第二座数据中心，来满足生成式AI快速发展 带来的需求增长。 3.6月19日，据多方信源确认，宇树科技已经完成了始于去年底C轮融资的交割，由移动旗下 基金、腾讯、锦秋、阿里、蚂蚁、吉利资本共同领投，绝大部分老股东参与了跟投。 宏观消息 4、中国物流与采购联合会于19日公布《中国公共采购发展报告（2024）》。根据报告，2024年全国 公共采购总额较上一年有所下降，结构分化明显，国企采购发挥压舱石的作用。 5、今日收盘后，富时罗素对富时中国50指数、富时中国A50指数、富时中国A150指数、富时中国 A200指数及富时中国A400指数的季度审核变更生效。富时中国A50指数此次将江苏银行纳入，剔除长 城汽车，同时将百济神州、伊利股份、上汽集团、赛力斯、汇川技术等纳入备选名单。富时中国A50 指数由上海和深圳证券交易所市场中总市值最大的50只股票组成，反映A股市场中最具影响力的前50 大上市公司股票的表现，不少 ...

Core Viewpoint - China has reached a world-leading level in semi-invasive brain-computer interface (BCI) technology, with invasive BCI technology also accelerating towards catching up, particularly in the medical field for patients with major motor disorders [1][2]. Group 1: Technology Development - The semi-invasive intelligent brain-computer system "Beijing Brain No. 1" has completed two batches of five human implants, showing initial recovery effects in subjects, and is preparing for formal clinical trials [1][7]. - "Beijing Brain No. 1" is the first international system to achieve over 100 channels, high throughput, wireless full implantation, and near-practical application [5]. - "Beijing Brain No. 2" has achieved the first international success in enabling a monkey to intercept a moving target using thought, with plans for clinical validation next year [10][11]. Group 2: Patient Impact - The initial focus for "Beijing Brain No. 1" is on patients with paralysis and speech disorders, with the potential to help restore communication abilities for speech-impaired patients [2][8]. - Among the five patients implanted, one with speech impairment has achieved a 63% accuracy in decoding 62 words, demonstrating the system's capability to assist in communication [8]. - The other four patients, suffering from various motor function disorders, have shown improvements in rehabilitation, such as enhanced muscle strength and the ability to control mechanical arms [8][9]. Group 3: Market and Competition - China has become the second country globally, after the United States, to enter the clinical trial phase for invasive BCI technology [2]. - The competitive landscape in China's invasive BCI market is expected to accelerate technological advancements, although there is still a gap compared to global leaders like Neuralink, which supports up to 1024 channels [12]. - The establishment of Beijing Brain Institute and the company Chip Intelligence is aimed at promoting the commercialization of BCI technologies and integrating resources for more effective research and development [4][12].

李园解释说，128通道即有128个采集信号的触点，触点越多，采集的信息量就越大。电极上设计更多触 点并非难点，但多信号同时处理时，无线传输和处理器如何保证高通量、低功耗是系统的难度所 在。"北脑一号"实现了全球同类脑机产品的最大信号通量，信号采集精度、信号传输和处理性能均处在 世界先进水平。 屏幕上显现出一道道起伏波动的线条。"患者想动左手还有右手，或者处在静息状态时，脑电信号的特 征都是不一样的。我们用神经编解码算法解读特征，再把它转换成控制指令，驱动患者的外骨骼。"系 统能够帮助因脊髓损伤、脑卒中、渐冻症等创伤或疾病导致运动或言语障碍的患者，实现运动和言语功 能的替代和康复。 如今距离手术完成已超过3个月，患者除了能够用"意念"控制机械臂、电脑光标外，上肢也逐步呈现康 复进展，能够完成术前不能完成的一些手部动作，例如手指捏放玻璃弹珠等。 6月19日，记者从"活力中国调研行"采访活动中获悉，北京脑科学与类脑研究所和北京芯智达神经技术 有限公司合作研制的"北脑一号"智能脑机系统已完成国际首批柔性高通量半侵入式无线全植入脑机系统 的人体植入，进入临床验证阶段，目前已完成5例患者植入，为脊髓损伤、脑卒中、渐冻症患 ...

Core Insights - A recent experiment at Tsinghua University involved students wearing portable brain-computer interface systems, known as EEG caps, to capture their brain activity while enjoying a live performance, aiming to decode their aesthetic experiences [1][2][4] - This research marks the first application of non-invasive brain-computer interface technology in a real performance setting in China, providing insights into the neural activity patterns during art appreciation [1][4] Group 1: Research Objectives and Methodology - The primary goal of the experiment is to explore the neural activity patterns associated with aesthetic experiences during live performances, enhancing the understanding of why live viewing is more impactful [2][4] - The EEG caps worn by students are equipped with silver electrodes to collect brain signals, which are transmitted wirelessly to a data center for analysis of physiological responses during artistic experiences [4] Group 2: Technological Context and Applications - Brain-computer interface technology is a cutting-edge human-machine interaction tool that captures and decodes brain signals, enabling communication between the brain and machines [2] - The technology has seen rapid development and application in China, including uses in disease diagnosis, safety monitoring in high-risk jobs, rehabilitation, and treatment of neurological disorders like Parkinson's and epilepsy [2]

丨证券研究报告丨 行业研究丨点评报告丨软件与服务 [Table_Title] 侵入式脑机接口临床试验成功，我国脑机接口进 入新阶段 报告要点 [Table_Summary] 近日，中国科学院脑科学与智能技术卓越创新中心联合复旦大学附属华山医院，与相关企业合 作，成功开展了我国首例侵入式脑机接口的前瞻性临床试验。该成果标志着我国在侵入式脑机 接口技术上成为全球第二个进入临床试验阶段的国家。另一方面，美股脑机接口概念股脑再生 科技(RGC)股价在 6 月 16 日大幅上涨，接连触发多次熔断，最后报收 60 美元，涨幅高达 283.12%。建议关注三条主线：1、侵入式脑机接口海外先进产业链的国内映射标的；2、非侵 入式脑机接口在消费场景的产品落地相关标的；3、脑机接口下游应用端相关标的。 近日，中国科学院脑科学与智能技术卓越创新中心联合复旦大学附属华山医院，与相关企业合 作，成功开展了我国首例侵入式脑机接口的前瞻性临床试验。该成果标志着我国在侵入式脑机 接口技术上成为全球第二个进入临床试验阶段的国家。另一方面，美股脑机接口概念股脑再生 科技(RGC)股价在 6 月 16 日大幅上涨，接连触发多次熔断，最后报收 60 ...

亮点1 特斯拉（Te sla Bot）机器人 技术深度揭秘 特斯拉（Tesla）携人形机器人 （Tesla Bot） 惊艳亮相！现场将揭秘 Tesla Bot 关节模组核心技术，观众可 近距离感受 Tesla Bot 的科技魅力。 亮点2 头部企业矩阵，引领技术革命 本届展不仅吸引了 以特斯拉、宇树为代表的行业顶尖企业参展，还吸引了云深处、强脑、群核等杭州六小龙 企业亮相 ，以及阿里云、卓益得、清宝、卧龙集团、海创人形机器人创新中心等近300家知名企业携前沿技 术与创新产品，集中展示了仿生驱动、具身智能、脑机接口等先进技术与机器人上下游产业链等，预计将吸引 6万人次 专业观众亲临现场参观。 为促进人形机器人学术界与产业界的深度交流与合作，推动人形机器人技术的突破与产业化进程，经商务部批 准 ， 由浙江省机器人产业发展协会主办，高登会展集团承办，机器人大讲堂协办 的 2025杭州国际人形机器 人与机器人技术展览会 将于 6月20日-22日在杭州大会 展中心8 号馆举办 。 本次展会打造"论坛+展览+体验+比赛"为一体的一站式交流互动平台，汇聚200余家全球顶尖机器人企业，规 划了近1.5万㎡展览空间，预计吸引2 ...

Market Overview - On June 19, A-shares opened lower and continued to decline, with the Shanghai Composite Index falling by 0.79% to 3362 points, the Shenzhen Component Index down by 1.21%, and the ChiNext Index down by 1.36%, with over 4600 stocks declining across the market [1] - Market focus shifted towards the oil, natural gas, and digital reading sectors [1] High-Performing Stocks - In the oil and gas sector, Zhuan Oil Co. and Shandong Molong achieved five consecutive trading limits, while military stock Beifang Changlong saw a 20% increase over three days [3] - Notable stocks with significant gains include: - Shandong Quanlong: +10.00%, five consecutive limits [4] - Zhuan Oil Co.: +9.96%, five consecutive limits [4] - Beifang Changlong: +20.01%, three limits in five days [4] - Innovation Medical: +10.04%, two limits in three days [4] Trading Activity - The top three net purchases on the Dragon and Tiger list were: - Innovation Medical: net purchase of 207 million [5] - Electric Science Cybersecurity: net purchase of 153 million [5] - Anni Co.: net purchase of 135 million [5] - The top three net sales were: - Limin Co.: net sale of 230 million [7] - Xiexin Energy: net sale of 218 million [7] - Changshan Pharmaceutical: net sale of 178 million [7] Sector Highlights - Innovation Medical focuses on brain-machine interfaces and AI medical models, achieving a trading limit with a turnover of 1.745 billion and a turnover rate of 31.78% [10] - Baida Qiancheng, involved in short drama games and major contract signings, also reached a trading limit with a turnover of 1.077 billion [14] - Electric Science Cybersecurity, which focuses on digital currency and satellite navigation, achieved a trading limit with a turnover of 694 million [18] Institutional Activity - Institutions showed significant interest in several stocks, with net purchases in: - Electric Science Cybersecurity: 35 million [22] - Innovation Medical: 26 million [22] - Shandong Molong: 20 million [22] - Conversely, institutions sold off stocks like Limin Co. and Xiexin Energy, with net sales of 64 million and 71 million respectively [19][22] Conclusion - The market experienced a downward trend with specific sectors like oil and gas showing resilience through notable stock performances. Institutional trading patterns indicate selective interest in high-growth potential stocks, particularly in the technology and healthcare sectors.

Group 1 - The article discusses the challenges and opportunities presented by the era of artificial intelligence, particularly focusing on the relationship between humans and AI [2][3] - Historical context includes significant events of the 20th century, such as the two World Wars and the establishment of international systems, which have shaped current global inequalities and geopolitical tensions [22][23] - The concept of "co-evolution" is introduced, emphasizing the mutual influence between organic and synthetic entities, and the need for strategic principles to guide future decisions [5][24] Group 2 - The article explores bioengineering attempts, such as brain-computer interfaces (BCI), aimed at enhancing communication between humans and machines, potentially leading to true symbiosis [6][7][25][26] - Ethical, physiological, and psychological risks associated with self-modification and the integration of AI into human life are highlighted, raising concerns about the loss of human identity [8][30][31] - The challenges posed by humanoid AI, which may develop self-awareness and self-interest, necessitate strategies for coexistence and the establishment of integrated control frameworks [10][11][34] Group 3 - The article emphasizes the importance of moral coding and consensus in AI systems, advocating for rule-based systems and reinforcement learning to ensure AI behavior aligns with human values [12][13][37][38] - The definition of human dignity is discussed, suggesting that a clear understanding of human attributes is essential for guiding AI's comprehension of humanity [15][50][51] - Future directions include the development of humanized AI that adheres to ethical standards, and the potential role of engineered humans to match AI capabilities [17][18][19] Group 4 - The article concludes that the mutual empowerment of human intelligence and machine intelligence requires ongoing definition and development of human concepts, ensuring that AI systems are aligned with human values [20][21][49] - The necessity for a comprehensive understanding of both AI and human nature is emphasized, as well as the importance of instilling human values into AI systems to maintain human independence [32][40][42]

2025.6.18 市场逻辑精选 特别提示：下文涉及的题材或公司，内容罗列和篇幅长短，与后续涨跌无关，亦均非进行推荐，仅作- 研究辅助。投资者应自主决策,注意风险。 市场热点 , 脑机接口:美股脑再生科技今年涨超460倍,国内行业进展加速 。 驱动: 。中游算法/设备核心公司: 。下游应用核心公司: 二、机会前瞻 新质战斗力:地缘冲突频发,军贸出口受益 份额有望持续提升。 期货:陆家嘴论坛召开在即 三、大涨分析 赢合科技:固态电池交付头部客户 恒基达鑫:原油价格波动带动油运仓储价格上涨 石化仓储：公司核心业务为散装液体仓储，利用自建的储罐、管道、码头及槽罐车装卸台，为客户提- 供汽油、柴油、液化气等综合仓储服务，在珠三角、长三角和华中地区拥有先进的仓储及码头设施,- 是华南及华东地区石化产品仓储的知名企业。 科力远:布局硫化物固态电解质,参编RWA上链技术规范 英派斯:投资李未可,深耕智能运动装备领域 三夫户外:国内户外装备零售龙头 主营户外品牌：公司打造"自有品牌+独家代理品牌"的品牌矩阵，拥有XBIONIC、X-SOCKS等自有品- 牌,独家代理CRISPI、HOUDINI、DANNER等国际户外品牌,经 ...

[美] 亨利·基辛格 [美] 克雷格·蒙迪 [美] 埃里克·施密特 作者 本文节选自《人工智能时代与人类价值》 【 AI速读 】 这篇文章探讨了人工智能时代的挑战和机遇，特别是人类与人工智能的关系。以下是文章的主要内容： 1. 历史背景与当前挑战 2. 战略原则与共同进化 3. 生物工程与脑机接口 4. 人工智能的伦理与风险 5. 类人人工智能与共存 6. 道德规范与人工智能 20世纪的重大事件：两次世界大战、国际体系的建立、帝国的衰落、商业和技术的扩张等。 当前的复杂挑战：全球不平等、地缘政治对抗、人工智能带来的新挑战等。 战略基本要素：确定战略原则以指导当前和未来的选择。 共同进化：讨论有机物和合成物的"共同进化"，以及人类与人工智能的相互关系。 生物工程尝试：通过人脑芯片实现物理互联，增强人类与机器的交流。 脑机接口（BCI）：促进人类与机器的融合，可能迈向真正的共生。 伦理、生理和心理风险：自我改造可能导致人类失去立身之本。 集体无知：人类可能意识不到与人工智能的融合。 类人人工智能的挑战：人工智能可能拥有自我意识和自我利益，难以与人类价值观一致。 共存策略：通过早期社会化和公众互动降低风险，建立集成 ...