关注我的朋友应该知道，在我博士研究方向中，脑机接口也是我其中一个研究方向，或者叫做工程方向。 从读博第一年开始，我就计划做脑机接口的产品项目与研究工作。 其中最核心的就是打通vision Pro（MR设备）与脑机接口。整好最近我们的脑机接口的产品设计开始了，作为脑机接口的产品经理，我想分下几个我个人 的观点，以及项目实施过程中的难点。 定位：脑机接口的3个方向 现在脑机接口就有3个产品化方向，或者脑机接口的硬件形态，分为非植入式、半植入式、以及侵入式。 从用户体验层度，现在侵入式、半侵入式的体验都是最差的，未来在5年左右都很难提升，只限给那些脑部患者的用户，而针对普通用户以及消费，非侵 入式才是唯一的主流在接下来几年。 而这一点从成本、以及佩戴舒适度上都会逐步提升，至少目前我们可以看到国内的强脑科技、以及神舞科技都用磁吸或者环状来完成产品形态，让用户佩 戴脑机就像孙悟空佩戴紧箍咒一样方便与轻巧。 EEG脑机形态 在工业上的ID设计以及供应链的成熟度，脑机接口显然还没有像AR眼镜如此规模，脑机仍然是以医疗单位以及医疗科技公司为主，离消费者电子还太远 了，所以脑机接口的商业化闭环也是B端与G端以及患者C端。 而需 ...

当前港股整体估值水平相对合理，成长板块的估值处于历史相对较低水平。截至6月17日，恒生科技指 数ETF（513180）标的指数的最新估值（PETTM）仅20.25倍，处于指数2020年7月27日发布以来约 8.66%的估值分位点，即当前估值低于指数发布以来91%以上的时间。在国内经济复苏、AI业绩催化预 期以及更多优质企业赴港上市的背景下，下半年估值有望提升。 公开信息显示，恒生科技指数ETF（513180）在A股上市的同赛道ETF中规模和流动性双双领先，支持 T+0交易。其标的指数软硬科技兼备，文有AI，武有机器人，囊括相较于A股更为稀缺的中国核心科技 资产。没有港股通账户的投资者或可通过恒生科技指数ETF（513180）一键布局港股科技龙头。（场外 联接A/C：013402/013403）。 6月18日早盘，港股三大指数集体低开，恒生指数跌0.5%，报23859.55点，恒生科指跌0.58%，国企指数 跌0.43%。盘面上，科网股涨跌不一，脑机接口概念普涨，油气设备与服务板块多股上涨。开盘后，恒 生科技指数跌幅扩大，恒生科技指数ETF（513180）跟随指数震荡下行，持仓股中，理想汽车、蔚来、 阿里健康、 ...

金 融 期 货 研 究 2025 年 6 月 18 日 期指：震荡格局，关注陆家嘴论坛 | | | 【期指期现数据跟踪】 | 期指数据 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 收盘价 | 涨跌幅% | 基 差 | 成交额-亿 | 成交量 | 变 动 | 持仓量 | 变 动 | | 沪深300 | 3870.38 | ↓0.09 | | 2204 | | | | | | IF2506 | 3868.6 | ↓0.01 | -1.78 | 618 | 53299 | ↓4050 | 71388 | ↓11929 | | IF2507 | 3827.6 | ↑0.01 | -42.78 | 134.9 | 11759 | ↓1128 | 34780 | ↑4181 | | IF2509 | 3799.2 | ↓0.01 | -71.18 | 290.3 | 25492 | ↓743 | 102213 | ↑7560 | | IF2512 | 3767.4 | ↑0.01 | -102.98 | 57. ...

环球市场动态 中 东 战 局 持 续 发 酵 中 美 关 系 延 续 稳 态 股 票 A 股周二下滑，脑机接口板块大爆 发；港股走弱，新消费、医药股大 幅下跌；欧股下挫，市场担忧美国 对以伊冲突的直接介入；美股三大 指数齐跌，华尔街担忧中东局势升 级，美国经济数据疲软业令市场承 压。 外 汇 / 商 品 中东局势升级重燃供应担忧，周二 国际油价升超 4%至近五个月高 点；金价震荡微跌，伦敦期铜走低； 美联储决策前夕美元上涨，英镑领 跌 G-10 货币。 固 定 收 益 美国国债上涨，中东局势升级提振 避险需求。美债收益率盘中短暂上 涨，收盘下跌，曲线趋平。亚洲债 券市场卖盘涌现。中国投资级债券 利差走宽 1-3 个基点。 产品及投资方案部 注：bp/bps=基点；pt/pts=百分点 中信证券财富管理 (香港) 免责声明请参考封底 2025 年 6 月 18 日 123 ▪ 我们判断，6 月下半月市场面临的外部地缘政治环境是：中美关系将延续稳态，关注中东地缘扰动。关于中美 关系，本次伦敦会谈更多用于解决双方面临的短期、急迫且可逆的问题，关税或并非会谈重点，但对市场而言， 日内瓦会谈以来的风险偏好缓和窗口或将延 ...

现在全网斗在讲脑机接口 但接下来真正能走出20倍行情的，只有这几家处在细分领域的隐形王者 作为老股民都清楚，每一个万亿产业爆发，涨幅最好的都不是行业龙头，而是细分领域的隐形王者 比如万亿光伏产业，涨幅最好的不是隆基股份 而是做Topcon电池的均达股份，股价不到三年就创下了22倍的惊人涨幅 再比如，万亿人工智能产业，涨幅最好的也不是中科曙光、浪潮信息这些龙头 而是做算力租赁的鸿博股份，股价更是在一年不到的时间从5元涨到了45元 第一家，麒盛科技，股价13.16元，公司掌握了双向脑机交互技术。 第二家，岩山科技，股价5.69元，公司公司的子公司上海岩思类脑人工智能研究院有限公司，致力于开展大脑内部状态解析。 第三家，更具爆发潜质 公司主导研发的"基于脑机接口技术的多模态人机交互系统集成关键技术"不仅入选了江苏省重点研发计划，蚣肿號，市霏说 主页发送"狐"揭晓， 还具备高精度脑电采集设备或植入式电极的生产潜力 并且最近还被外资爆买了2.43亿，关键股价也才仅有十元出头，一旦风口来临，随时可能原地起飞！ 风险提示：以上内容仅供参考和学习使用，不作为买卖依据，投资者应当根据自身情况自主做出投资决策并自行承担投资风险。 ...

Group 1 - The Hang Seng Healthcare Index (HSHCI) decreased by 1.12% as of June 18, 2025, with mixed performance among constituent stocks [3] - The top-performing stocks included Sipai Health (00314) up by 8.93%, and Health Road (02587) up by 6.54%, while MicroBrain Science (02172) led the decline at 4.25% [3] - The Hang Seng Healthcare ETF (513060) fell by 0.54%, with a latest price of 0.56 yuan and a turnover rate of 9.23% [3] Group 2 - The 85th American Diabetes Association (ADA) Scientific Sessions will take place from June 20-23, 2025, in Chicago, focusing on GLP-1 agonists as a research hotspot [3] - Chinese pharmaceutical companies are innovating around GLP-1 targets, including long-acting GLP-1 agonists and oral small molecule GLP-1 agonists [3] Group 3 - According to Aijian Securities, there is uncertainty in the US-China competition, but domestic "hard technology" and "strong demand" should be prioritized, particularly in innovative drugs [4] - The Hang Seng Healthcare ETF's latest scale reached 8.055 billion yuan, ranking in the top third among comparable funds [4] Group 4 - As of June 17, 2025, the Hang Seng Healthcare ETF had a one-year Sharpe ratio of 1.91, ranking in the top half among comparable funds [5] - The ETF's management fee is 0.50%, and the custody fee is 0.15% [5] Group 5 - The top ten weighted stocks in the Hang Seng Healthcare Index account for 58.13% of the index, with notable companies including Innovent Biologics (01801) and BeiGene (06160) [6]

Core Insights - The report highlights the potential for significant growth in the 3D printing industry driven by surging consumer demand, with specific stocks such as Platinum Technology (68833) and Yuyuan Powder Materials (688456) identified as key players [5] - The implementation of tax refund policies in Dalian and Hubei provinces is expected to benefit the duty-free industry, with related stocks including Dalian Commercial Group (600694) and Zhongbai Group (000759) [5] - The gaming sector is viewed positively by institutions, with expectations for valuation recovery in new consumption, highlighting stocks like Perfect World (002624) and Kaiying Network (002517) [5] Industry Updates - The Ministry of Agriculture and Rural Affairs is set to enhance the management of the entire chain of crop varieties, aiming for breakthroughs in the breeding of new varieties [4] - The National Bureau of Statistics reported that economic momentum is gathering strength, with consumption growth exceeding market expectations in May [4] - The State Council is researching optimization of centralized procurement, with the 11th batch of drug procurement approaching and adjustments to the pricing mechanism anticipated [4] Company Focus - Zhongqi Co., Ltd. (300575) has received approval for its chlorantraniliprole project, which is expected to commence production soon [6] - Tongda Co., Ltd. (002560) has pre-qualified for a 1.37 billion yuan procurement project for low-voltage power cables from the State Grid [6] - Guangxin Materials (300537) has received approval for its application to issue stocks to specific investors [6] - Haibo Technology (688411) has launched a power electronics technology platform to provide stable support for new power systems [6] Market Review and Outlook - On June 17, the market experienced fluctuations with all three major indices slightly declining, with the Shanghai Composite Index closing at 3387.40, down 0.04% [7] - The total trading volume in the Shanghai and Shenzhen markets was 1.21 trillion yuan, a decrease of 78.7 billion yuan from the previous trading day [7] - The report suggests that the A-share market is sensitive to negative news, and a breakthrough in the Shanghai Composite Index may require changes in overseas trade tensions, domestic stimulus policies, or breakthroughs in technology industries [7] - Key sectors to watch include emerging growth areas such as AI applications, semiconductors, and pharmaceuticals, as well as sectors expected to see turning points from low levels, such as securities, electric power, and consumer goods [7]

6月18日周三，A股早盘低开之后震荡回落，创业板跌0.4%，白酒股反弹，创新药、稀土永磁等板块调整。港股恒 指、恒科指低开，早盘跌势有所加剧，恒科指跌超1%，科网股、汽车股跌幅居前，新消费三宝集体调整。商品方 面，国内商品期货集体高开。债市方面，国债期货悉数走低。核心市场走势： | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | W | 3384.69 | -2.72 | -0.08% | | 399001 | 深证成指 | m | 10139.64 | -11.79 | -0.12% | | 399006 | 创业板指 | Van | 2042.43 | -7.52 | -0.37% | | 000300 | 沪深300 | W | 3869.26 | -1.12 | -0.03% | | 000016 | FiF50 | 12V | 2681.85 | -2.10 | -0.08% | | 000680 | 科创综指 | | 1171.57 | -0.17 | -0.01% | ...

Market Overview - A-shares experienced narrow consolidation with a divergence in popular thematic stocks, particularly the brain-computer interface concept leading the gains, while sectors like innovative drugs and IP economy showed significant adjustments [1] - The Shanghai Composite Index closed down 0.04% at 3387.4 points, with the Shenzhen Component down 0.12%, the ChiNext Index down 0.36%, and the CSI 500 down 0.03%, maintaining a market turnover above 1 trillion yuan [1] ETF Performance - The A500 ETF fund (512050) saw continuous net subscriptions over two days, attracting a total of 285 million yuan [1] - The A500 ETF has maintained the highest average daily trading volume among similar products since its listing, with a competitive fee rate [2] Upcoming Events - The 2025 Lujiazui Forum is set to take place in Shanghai on June 18, with key financial leaders expected to deliver keynote speeches and announce significant financial policies [1] Federal Reserve Outlook - The Federal Reserve is anticipated to maintain its current interest rates in the upcoming June decision, with indications that a rate cut could be considered if not for tariff-related price risks [1]

这几只票暗盘资金正在偷偷流入，立即查看>> 脑机接口板块短线拉升，爱朋医疗（300753）涨超10%，倍益康、三博脑科（301293）、翔宇医疗、创 新医疗（002173）、伟思医疗等跟涨。 ...