| 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3475.24 | 10540.00 | 1426.61 | | +14.09 +0.41% | +5.42 +0.05% -15.56 -1.08% | | | 科创20 | 创业板指 | 万得全A | | 984.02 | 2168.03 | 5345.71 | | -0.93 -0.09% | +3.95 +0.18% | +5.57 +0.10% | 7月4日早盘，三大指数窄幅震荡。截至午间收盘，沪指报3475.24点，涨0.41%，深成指报 10540.0点，涨0.05%，创业板指报2168.03点，涨0.18%。 总体来看，盘面上热点较为杂乱，个股跌多涨少，全市场超3700只个股下跌。 从板块来看，游戏股走强，稳定币概念股活跃，脑机接口、银行、电力板块涨幅居前；军工板块调 整，固态电池、贵金属板块走低。 半日主力资金流向 主力资金早间净流入银行、医药生物、计算机等板块，净流出电力设备、有色金属等板块。 具体到个股来看，沃尔核材、协鑫能科、数据港获净流入22.85亿元、9.93亿元、9.64亿元。 2025.0 ...

第三个方向，记忆。因为人类的记忆非常复杂，并不是大脑某一个功能区在做，而是涉及到全脑的协 作，但海马在中间发挥了重要的作用，所以对海马的刺激和调控有可能能强化记忆，甚至有可能逆转阿 尔茨海默，甚至有可能实现记忆外挂的一些能力； 第四个方向，具身智能。就像昨天宇树也提到，我们现在也在跟宇树合作做脑机接口和具身智能的结 合，人工智能一定要做到什么，现在AI不管做大模型还是什么，它没有被具身智能所结合，是不可能 出现意识的。就像昨天有位专家问到，现在大模型会不会出现意识，我的答案很简单，除非和具身智能 结合，否则它不会有意识。什么叫意识？从神经科学的角度来讲，在座各位都有意识，我们的意识是我 的大脑跟客观世界发生互动产生的反馈叫意识，我不跟世界发生互动我不会有反馈就不会有意识。现在 的AI对世界的接触方式太单一了，只有文字的输入和Token的输出，只有具身智能让它有感觉、有知 觉、能碰撞、能摔倒，它太会对这个世界有感知，有感知了才有可能产生意识，所以这也是为什么我认 为具身智能和AI的结合，跟脑机接口会非常重要； 新浪科技讯 7月4日上午消息，2025亚布力中国企业家论坛第十一届创新年上，脑虎科技创始人兼董事 长彭 ...

四川省人民政府办公厅印发《关于发展壮大新兴产业加快培育未来产业的实施方案(2025—2027年)》。 其中提到，聚焦原创技术突破、标志性产品研制、临床应用和场景打造，推动脑科学与脑机接口技术创 新发展。加强神经信号采集与处理、脑状态评估与调控等技术攻关，打造原创技术策源地。引导领军企 业前瞻布局，面向类脑智能等加快软件产品研发，突破具有自主知识产权的脑机接口产品、手术机器 人、康复机器人等高端装备产品。加快推动智能化辅助神经精神系统疾病筛查与诊疗技术、脑电影响辅 助康复技术等开发和临床应用。遴选发布典型应用场景清单和推荐目录，鼓励打造差异化特色化的标杆 示范场景，依托场景组织高水平对接活动，加速新技术新产品推广。(人民财讯) ...

Group 1 - The core viewpoint of the article highlights the strong performance of Hong Kong stocks related to brain-computer interface technology, with notable gains in specific companies [1] - Nanjing Panda Electronics Co., Ltd. (00553.HK) saw a significant increase of 14% in its stock price [1] - Micron Brain Science (02717.HK) experienced an 11% rise in its stock value [1]

Important Market News - US stock market closed early on Thursday with all three major indices rising; S&P 500 increased by 0.83%, Nasdaq by 1.02%, and Dow Jones by 0.77%, marking the seventh historical closing high for S&P 500 this year and the fourth for Nasdaq [1] - Technology stocks saw widespread gains, with Nvidia rising 1.3% to a historical high and New思科技 increasing by 4.9%; Bitcoin-related stocks also surged, with Circle up over 6% [1] - International oil prices slightly declined, with WTI crude oil down 0.40% to $67.18 per barrel and Brent crude down 0.32% to $68.89 per barrel; COMEX gold futures fell 0.71% to $3336.00 per ounce, while silver futures rose 0.85% to $37.04 per ounce [1] - European stock indices closed higher, with Germany's DAX up 0.61% to 23934.13 points and France's CAC40 up 0.21% to 7754.55 points [1] Industry Insights - On July 3, the National Medical Products Administration of China announced measures to optimize lifecycle regulation to support high-end medical device innovation, including special approval procedures for medical robots and high-end imaging equipment [2] - Brain-computer interface technology is expected to revolutionize human-machine interaction, initially focusing on medical rehabilitation, with potential expansion into education, entertainment, and industrial applications [2] - The solid-state battery industry is accelerating its industrialization process, with solid-state batteries being recognized as the next-generation battery technology, particularly in cost-sensitive fields like humanoid robots and low-altitude applications [3] - China ranks second globally in solid-state battery patent applications, with over 46,000 applications as of May 16, 2025, indicating a rapid catch-up with Japan [3] - The National Cryptography Administration and other agencies released regulations for the management of commercial passwords, effective from August 1, 2025, which will impact key information infrastructure sectors such as energy, finance, and communication [4][5] - The commercial password market in China is projected to grow at a compound annual growth rate of 25%, reaching 140 billion yuan by 2025, driven by the new regulations [5] Company Updates - 中钢洛耐 announced that its shareholder plans to reduce its stake by up to 562,500 shares, representing 0.5% of the total share capital [6] - 曲江文旅 reported that a court will auction 12 million shares held by its controlling shareholder on an online platform [6] - 威唐工业 disclosed plans for its controlling shareholder to reduce their stake by up to 170,000 shares, accounting for 0.9727% of the total share capital [7] - 合盛硅业 intends to participate in an ETF exchange transaction, planning to exchange up to 1,182,210 shares, or 1% of the total share capital [7] - 财富趋势 announced a plan for its actual controller to reduce their stake by up to 768,340 shares, representing 3% of the total share capital [8]

Core Viewpoint - The brain-computer interface (BCI) sector is expected to continue its strong performance, with long-term growth potential, but there are warnings about short-term speculative risks [1][2]. Industry Outlook - The BCI industry chain is rapidly improving, with projections indicating that the medical application market for BCIs could reach $40 billion by 2030. Companies involved in rehabilitation medical devices, BCI electrodes, chips, and intelligent brain systems are recommended for investment [1]. - Invasive BCIs are nearing large-scale clinical trial thresholds, while non-invasive BCIs are moving towards industrialization. Each advancement in BCI commercialization is anticipated to attract significant global market attention, enhancing investment sentiment in related sectors [1]. Investment Recommendations - Analysts suggest focusing on three main investment lines: 1. Domestic companies that could benefit from overseas industry breakthroughs [1]. 2. Companies likely to launch consumer-grade BCI products [1]. 3. Application companies that stand to gain from the implementation of BCI products [1]. Short-term Risks - There is a cautionary note regarding the current speculative atmosphere in the A-share market, with concerns about whether listed companies can achieve sustainable profitability and results in the BCI sector [2]. - Investors are advised to focus on the fundamentals of BCI-related companies, including their technological capabilities, real business implementations, and market positioning. Given the recent significant price increases, it is recommended to accumulate shares of companies with core technologies during market corrections [2]. - Following a recent surge in stock prices, some BCI-related stocks have experienced a pullback, indicating potential volatility in the market [2].

成都华微则透露，公司脑机接口主要布局为提供信号处理的基础硬件器件，包括信号采集高精度ADC 和信号后处理的低功耗FPGA和MCU，为客户提供集成解决方案和信号链系统级集成产品。 7月2日，从事电子材料、高分子材料等高性能材料的普利特在互动平台表示，公司已与海外客户关于公 司LCP薄膜产品在脑机接口领域的应用进行了共同开发以及验证工作。由于验证周期较长，短期内对公 司业绩不会产生重大影响。 6月29日，全国首个脑机接口未来产业集聚区在上海启动建设，选址闵行区新虹桥国际医学中心的载体 空间年内将建成投用，也为国内在该前沿领域的布局落下关键一子。 这场由科技巨头引领的"脑力"角逐，同样在二级市场上激起波澜。今年以来，相关概念股集体走强，频 现暴涨。尤其是在6月27日-7月3日期间，塞力医疗、际华集团均收获3连板，创新医疗2连板，翔宇医疗 涨超62%，爱朋医疗、北陆药业等多股纷纷跟涨。截至7月3日，脑机接口板块仍大多飘红，A股脑机接 口主题指数近一月累计上涨4.96%。 在沪深交易所互动平台上，与"脑机接口"有关的提问显著增长。对此，也有多家上市公司纷纷回应。 其中，诚益通回复投资者称，公司已确立"侵入式与非侵入式" ...

明日主题前瞻 4、POE | 据报道，刚刚步入7月，不少化工原料悄然提价，多个化工巨头带头发函涨价。近期陶氏、LG化学、SK三家巨头齐发涨价函，POE（聚烯烃弹性 体）涨幅超过1000元/吨。陶氏、LG化学发布公告表示，而近期全球地缘政治不确定性加剧了上游市场的波动，7月1日起，亚太地区产品每吨涨价150美元 （约1075元/吨）；SK称，为保障品质，7月1日起，中国地区POE每吨上调1000元。今年以来，LG化学、陶氏化学等国际企业纷纷上调POE价格，推动国内 POE价格被动上涨。 点评：据中证报，POE兼具塑料和橡胶性质，为一种高性能热塑性弹性体，属于高端聚烯烃产品，近年来在光伏、汽车、包装等领域需求激增。据华经产业 研究院数据，我国POE在光伏领域应用占比为40%，汽车行业应用占比为26%，光伏应用已经成为POE最主要应用领域。POE 在光伏领域中主要用于封装胶 膜。N型电池+双玻组件渗透率提升，光伏用POE需求显著提升。中国目前对POE的进口依赖度超80%，国产化市场空间广阔。 5、元宇宙 | 据证券时报，工业和信息化部办公厅、教育部办公厅、文化和旅游部办公厅、广电总局办公厅发布关于组织开展2025年 ...

www.leadleo.com 中国医疗科技行业调研简报 | 2025/05 Q1：脑机接口柔性电极有哪些分类？ 图表1：柔性电极内部构造 报告标签：柔性电极、信号监测、微电极 2025年5月 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另行标明出处者除外）。未经头豹 研究院事先书面许可，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究 院保留采取法律措施、追究相关人员责任的权利。头豹研究院开展的所有商业活动均使用"头豹研究院"或"头豹"的商号、商标，头豹研究院无任何前述名 称之外的其他分支机构，也未授权或聘用其他任何第三方代表头豹研究院开展商业活动。 1 头豹调研简报 | 2025/05 医疗科技行业 柔 性 聚 合 物 基 底 金 属 导 电 层 绝 缘 封 装 层 ◼ 根据放置位置不同，颅内柔性电极可分为侵入式 电极和半侵入式电极，颅外柔性电极则包括干电 极、半干电极以及湿电极。每一种电极类型在脑 机接口应用中承担着不同的角色，且各自具备独 特的优势和适用场景 ➢ 颅内电极 侵入式电 ...

Group 1: Industry Insights - The domestic four-legged robot industry is rapidly developing, with consumer-level models starting at 10,000 yuan [2] - The four-legged robots can be categorized into hydraulic and electric drive types, with electric drive becoming a new trend due to its lower cost and ease of control [3] - The four-legged robot industry has made progress in recent years, but still lacks advanced task planning capabilities and has limited battery life of 8 to 12 hours [4] Group 2: Company Developments - Cloud Deep Technology has delivered over 1,000 units of its "Xie Ying" series products, showcasing its strong presence in various application scenarios [1] - Chip Original Co., Ltd. is recognized as China's leading semiconductor IP company, with a significant increase in its customer base and revenue from chip design and mass production services [8] - Brain Machine Interface technology is gaining traction in China, with various local companies making strides in both non-invasive and invasive applications [6][7]