证券代码：300003 证券简称：乐普医疗 乐普（北京）医疗器械股份有限公司 投资者关系活动记录表 编号：2025-002 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 ■业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | □其他 | | 参与单位名称及 | | | | 家境内外机构共 名参会人员，详见附件明细 93 141 | | 人员姓名 | | | 时间 | 2025 年 8 月 23 日 | | 地点 | 电话会议 | | 上市公司接待人 | 董事长 蒲忠杰 | | | 财务总监 王泳 | | 员姓名 | 董事会秘书 江维娜 | | | 公司介绍： | | | 各位投资者上午好！感谢大家周末参加公司 2025 半年度业绩说明 | | | 会。乐普经过各种产品的集采大周期，过去数年业绩波动较大，在此 | | | 期间公司也进行了组织架构、管理方法和考核思路的调整，目前组织 | | | 再造已基本完成，业绩也逐步企稳。 | | | 公司半年报收入、利润端同比基本持平，经营性净现金流大幅改 | | | 善，同 ...

Summary of Key Points from the Conference Call on Brain-Computer Interface (BCI) Technology Industry Overview - The conference focuses on the **Brain-Computer Interface (BCI)** technology and its applications in **neuroregulation** and **rehabilitation** for patients with disabilities such as amputees and those with speech disorders [1][3][21]. Core Insights and Arguments - **Technological Advancements**: Significant progress has been made in **Chinese speech decoding**, achieving international standards in language recognition, particularly for tonal languages like Mandarin [1][8]. - **Neuroregulation Applications**: Neuroregulation techniques, including electrical and magnetic stimulation, have been successfully applied in treating conditions like epilepsy and Parkinson's disease, with ongoing exploration into Alzheimer's disease [1][16]. - **Closed-loop BCIs**: The development of closed-loop BCIs allows for real-time feedback from the brain, enhancing control strategies and rehabilitation outcomes, as demonstrated by Zhejiang University and FDA-approved devices [1][21]. - **Interdisciplinary Collaboration**: The advancement of BCI technology requires collaboration across multiple disciplines, including microelectronics, materials science, communication engineering, and artificial intelligence [3][23]. - **China's "Brain Plan"**: China's strategic initiatives, such as the "Brain Plan," aim to foster innovation and establish a complete industrial chain in the BCI field, focusing on infrastructure, databases, and AI algorithms [3][24]. Additional Important Content - **Neural Decoding Techniques**: Various methods for recording neural activity include MRI, functional MRI, and high-density EEG, with EEG being the most common due to its high temporal resolution [6][9]. - **Signal Processing**: The extraction of meaningful information from EEG signals involves complex processing techniques, including time-frequency analysis and deep learning algorithms [10][11]. - **Clinical Applications**: Current clinical applications of BCI technology are expanding, particularly in rehabilitation for stroke and spinal cord injury patients, with a focus on both invasive and non-invasive methods [21][26]. - **Future Prospects**: The future of BCI technology includes a focus on multi-target regulation and the integration of AI for more precise neuroregulation, with potential applications in both clinical and non-clinical settings [22][25]. - **Challenges in Non-invasive BCIs**: While non-invasive BCIs show promise in areas like fatigue monitoring and cognitive training, they face challenges in signal quality and practical application compared to invasive methods [26][27]. - **Comparative Analysis of US and China**: The US leads in rapid application of new technologies, while China has strong research capabilities but faces challenges in translating innovations into clinical practice [28]. This summary encapsulates the key points discussed in the conference call regarding the current state and future directions of BCI technology, highlighting both advancements and challenges within the industry.

Core Viewpoint - The article discusses the advancements in migraine treatment, particularly focusing on the MySalvia Therapy system developed by Salvia BioElectronics, which aims to address unmet needs in chronic migraine management through innovative neurostimulation techniques [1][3][14]. Group 1: Company Overview - Salvia BioElectronics, founded in 2017 and headquartered in Eindhoven, Netherlands, specializes in minimally invasive neurostimulation technologies based on neuroanatomical mapping [14]. - The company has successfully raised a total of $105 million in funding, with the latest round being a $60 million Series B financing aimed at advancing its core product, MySalvia Therapy [1][14]. - The RECLAIM study, a multi-center randomized controlled trial for MySalvia Therapy, is expected to complete its first round of results by 2027 [14]. Group 2: Market Opportunity - Migraine is the second leading cause of disability globally, affecting over 1.06 billion people, with chronic migraine patients constituting approximately 10%-15% of this population [3]. - The economic burden of migraine exceeds $110 billion annually, highlighting a significant market opportunity for effective treatments [3]. - Despite advancements in oral preventive medications and biologics, there remains a strong demand for non-drug, personalized, and long-term effective treatment options for chronic migraine sufferers [3][13]. Group 3: MySalvia Therapy System - MySalvia Therapy involves the implantation of two ultra-thin electrodes targeting the trigeminal and occipital nerves to modulate nerve excitability and reduce the frequency and intensity of migraine attacks [4][10]. - The system has received FDA designation as a "Breakthrough Device" and is currently undergoing the RECLAIM registration trial, with early data showing a reduction in migraine days from 22 to 7 per month, significantly outperforming non-invasive devices [6][10]. - The dual-target approach of MySalvia Therapy aims to enhance control over migraine pathways, offering a differentiated solution in the neurostimulation market [10][15]. Group 4: Competitive Landscape - The non-invasive neurostimulation market for migraine has matured, with several FDA-approved devices available, including gammaCore, SAVI Dual, Nerivio, and Cefaly, which primarily target peripheral nerve stimulation [7][11][12]. - While these non-invasive devices are user-friendly and have low risks, they may not provide sufficient depth of treatment for severe chronic migraine patients, indicating a gap that MySalvia Therapy could fill [12][13]. - MySalvia Therapy's invasive nature and dual-target mechanism present a potential "high-level solution" for patients with unmet treatment needs, particularly those who do not respond to existing therapies [13].

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 展位有限 报名：首届全球心血管大会 | 奖项评选 报名：首届全球骨科大会 | 奖项评选 近日，上海微创流畅医疗科技有限公司旗下的 植入式胫神经刺激器 进入创新通道。 胫神经是人体最长的神经之一，其分支在盆底和膀胱功能调节中起着重要作用。植入式胫神经刺激器通过向胫神经发送特 定的电脉冲信号，调节神经传导通路，从而影响膀胱和盆底肌肉的活动。 未来，ITNS设备将朝着 更小、更智能 的方向发展。例如，集成无线充电技术、远程监控功能等，进一步提高患者的使用 便利性和治疗效果。 # 市场概况 膀胱过度活动症（Overactive bladder，OAB）是一种以尿急症状为特征的症候群，常伴有尿频和夜尿症状，伴或不伴有 急迫性尿失禁，没有尿路感染或其他明确的病理改变。尿动力学上可表现为逼尿肌过度活动，也可为其他形式的尿道-膀 胱功能障碍。 抑制膀胱传入神经活动 ： 通过刺激胫神经，阻断异常信号传递至脊髓和大脑，减少膀胱的过度活跃反应，缓解尿 急、尿频等症状。 调节盆底肌肉功能： 刺激胫神经可以增强盆底肌肉的收缩能力，改善尿失禁等症状。 神经反射调节： ...