Core Viewpoint - The company has a strong presence in the non-invasive brain-computer interface (BCI) field, with a comprehensive range of products and technologies, including group biofeedback, multi-parameter biofeedback, and neonatal EEG monitoring [1] Group 1: Product and Technology Development - The company has obtained dozens of patents related to brain-computer interfaces, covering core technologies such as EEG signal acquisition, interference signal correction, signal transmission analysis, and machine learning algorithms [1] - The company has also accumulated multiple patents and technological reserves in non-invasive BCI electrodes [1] Group 2: Neurological Rehabilitation Solutions - The company's technology layout in the neurological rehabilitation field has evolved from a single device to a full-cycle solution encompassing "diagnosis-treatment-rehabilitation" [1] - For closed-loop neurological rehabilitation systems, the company has developed technologies for EEG acquisition, non-invasive neural modulation, and rehabilitation robots, enabling a closed-loop rehabilitation chain that includes brain signal acquisition, intention analysis, magnetic stimulation modulation, and mechanical assistance execution [1] Group 3: Clinical Applications - For stroke patients, the company can capture motor imagery signals in real-time using EEG caps, triggering rehabilitation robots for training while utilizing transcranial magnetic stimulation (TMS) to enhance neural plasticity and accelerate motor function recovery [1] - For spinal cord injury patients, the company's surface electromyography analysis system can assess residual nerve function, combined with a pulsed magnetic field therapy device to intervene in damaged spinal segments, creating personalized rehabilitation plans [1] Group 4: Future Directions - The company will closely monitor the development and application of cutting-edge neuroscience technologies, actively exploring various forms of business and technical cooperation to promote the transition of rehabilitation medicine from traditional models to precision and intelligent development [1]

Core Viewpoint - The company has a strong presence in the non-invasive brain-computer interface (BCI) field, with a comprehensive range of products and technologies, including group biofeedback, multi-parameter biofeedback, and neonatal EEG monitoring [1] Group 1: Product and Technology Development - The company has obtained dozens of patents related to brain-computer interfaces, covering core technologies such as EEG signal acquisition, interference signal correction, signal transmission analysis, and machine learning algorithms [1] - The company has also accumulated multiple patents and technological reserves in non-invasive BCI electrodes [1] Group 2: Neurological Rehabilitation Solutions - The company's technology layout in the neurological rehabilitation field has evolved from a single device to a full-cycle solution encompassing "diagnosis-treatment-rehabilitation" [1] - For closed-loop neurological rehabilitation systems, the company has developed technologies for EEG acquisition, non-invasive neural modulation, and rehabilitation robots, enabling a closed-loop rehabilitation chain that includes brain signal acquisition, intention analysis, magnetic stimulation regulation, and mechanical assistance execution [1] Group 3: Clinical Applications - For stroke patients, the company can capture motor imagery signals in real-time using EEG caps, triggering rehabilitation robots for training while utilizing transcranial magnetic stimulation (TMS) to enhance neural plasticity and accelerate motor function recovery [1] - For spinal cord injury patients, the company's surface electromyography analysis system can assess residual nerve function, combined with a pulsed magnetic field therapy device to intervene in damaged spinal segments, creating personalized rehabilitation plans [1] Group 4: Future Directions - The company will closely monitor the development and application of cutting-edge neuroscience technologies, actively exploring various forms of business and technical cooperation to promote the transition of rehabilitation medicine from traditional models to precision and intelligent development [1]

截至2025年9月5日收盘，麦澜德（688273）报收于39.71元，较上周的41.96元下跌5.36%。本周，麦澜 德9月1日盘中最高价报42.25元。9月4日盘中最低价报38.03元。麦澜德当前最新总市值39.71亿元，在医 疗器械板块市值排名96/126，在两市A股市值排名3850/5152。 本周关注点 业绩披露要点 2025年上半年，公司实现营收2.41亿元，同比增长5.62%，增长主要来自生殖康复和抗衰产品线；归母 净利润为6,392.01万元，同比下降11.96%，主因系处置子公司的不良资产。 机构调研要点 情感交互产品依托国家重点研发计划项目，预计2027年结题，目前处于中期阶段，已形成原理样机，计 划年内开展临床预实验。技术原理基于多模态生理信号、动作、表情、语音等信息识别，通过算法融合 实现阿尔茨海默病早期风险识别，并结合认知干预延缓病情发展，过程中实时进行情绪识别与调控。 多中心临床研究有助于增强盆底磁刺激仪在泌尿外科领域的医学证据，提升产品价值。通过头部医院积 累病例和建设标杆中心，为后续医院准入提供考察点，加快设备进院。 海外业务以盆底产品为主，重点市场为东南亚地区。公司通过参展和学 ...

Summary of the Conference Call on Botao Bio Industry Overview - **Industry**: Brain-Computer Interface (BCI) Technology - **Company**: Botao Bio - **Investment**: Acquired a 5% stake in Qingchuang Vision, a brain-computer interface company focused on depression treatment, leveraging technology from Zhejiang University [2][3] Key Points and Arguments - **Strategic Shift**: Botao Bio aims to transition from diagnostics to integrated diagnosis and treatment, particularly in the BCI sector [2][4] - **Government Support**: The Chinese government has prioritized BCI technology, allocating over 30 billion for development by 2030, with an additional 16.8 billion planned for the coming years [2][5] - **Market Potential**: The BCI technology market is vast, with over 1 billion patients suffering from major brain diseases in China, including nearly 100 million with depression [3][15] - **Technological Distinction**: BCI technology is categorized into invasive (high signal quality, up to 50 kHz) and non-invasive (lower signal quality) methods, with applications in rehabilitation and treatment of severe brain diseases [2][7][9] - **Research Landscape**: BCI research is primarily conducted in universities and research institutions, with leading companies like Zhiruan and Xingdao at the forefront [10] Additional Important Content - **Clinical Applications**: Current applications of BCI technology include rehabilitation for motor functions and sensory restoration, with significant room for growth in treating major brain diseases [9][15] - **Challenges in Development**: Invasive BCI technology faces high barriers due to its interdisciplinary nature, requiring collaboration across fields such as computer science, materials science, and clinical medicine [13] - **Unique Technologies**: Botao Bio has developed three core technologies for depression treatment, focusing on precise implantation, real-time emotional state monitoring, and closed-loop stimulation adjustment [19] - **Collaborations**: The company has established partnerships with Zhejiang University’s affiliated hospitals for clinical trials and research [21] - **Future Directions**: Plans for product development include a second-generation device with self-developed chips, aiming for clinical trials and eventual market release by 2029 [24][28] Market Dynamics - **DBS System Comparison**: Botao Bio's deep brain stimulation (DBS) system is designed to record, stimulate, and compute, differentiating it from existing products in the market [27] - **Patient Acceptance**: There is a high demand for new therapies among treatment-resistant depression patients, indicating a favorable market environment for innovative solutions [29] - **Regulatory Landscape**: The company anticipates regulatory approval for its DBS system by 2029, with a focus on personalized treatment approaches [28] Conclusion - **Investment Opportunity**: The BCI sector, particularly in depression treatment, presents significant investment potential driven by government support, technological advancements, and a large patient population in need of innovative therapies [2][5][15]

今年正值"交个朋友"直播间的五周年，罗永浩也为直播间的五周年营销活动请来了一批重量级的"科技朋 友"。除了强脑科技，另外的几家杭州"六小龙"最近也纷纷做客或即将做客罗永浩直播间。 罗永浩"交个朋友"直播间五周年，开始"卷"科技。 4月1日晚，杭州"六小龙"之一的强脑科技高级合伙人何熙昱锦与罗永浩在抖音"交个朋友"直播间展开对 谈，向观众展示公司的前沿技术。据了解，这是"非侵入式脑机接口"技术首次通过直播间进入公众视野。 作为领先的脑机接口公司，强脑科技以"非侵入式脑机接口+智能仿生义肢"为核心技术路线，致力于为肢 体残障人群提供可负担的高科技助残设备。在直播现场，真实的用户通过强脑科技的非侵入式脑机设备控 制智能仿生手和仿生腿，完成高难度动作挑战。比如用户佩戴仿生手演奏电子琴、佩戴仿生腿在跑步机上 跑步等等。 在直播现场，强脑科技工作人员还介绍了超级传感器如何在不切入的情况下，实现从信号到采集再到解析 的过程。"比如，当我们在做一个握拳的动作的时候，大脑会发出一个信号，通过神经传导到胳膊上，会 形成一系列的电信号，电信号会驱动手臂做这些动作。但是截肢患者没有手，他们就想象自己的手在活 动，但是他们的残肢上还是 ...