Group 1 - The global technology competition is intensifying, with disruptive technologies at the core of the "future industries" becoming a prominent part of China's economic landscape, as highlighted in the "14th Five-Year Plan" [1][2] - The total financing in related fields has approached 70 billion yuan this year, with specific sectors like nuclear fusion and 6G seeing index increases of over 80% [1][4] - The future industries are transitioning from "concept validation" to "commercialization," becoming a leading force in driving economic and social transformation [1] Group 2 - The "14th Five-Year Plan" outlines a clear blueprint for future industries, focusing on seven key areas including quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and 6G [2] - Local governments are actively responding with supportive policies, such as Beijing's "Create the Future" initiative, which has supported 83 potential enterprises and facilitated over 2 billion yuan in financing [2] - Various cities like Shenzhen and Shanghai are implementing financial measures to support high-quality development in future industries, establishing a solid foundation for growth [2] Group 3 - The capital market's enthusiasm for future industries is evident, with IPOs and refinancing processes accelerating significantly, totaling nearly 70 billion yuan as of December 26, 2025 [4] - Notable fundraising includes 14 billion yuan from China Nuclear Power in the nuclear fusion sector and over 8 billion yuan from companies in the embodied intelligence sector [4] - The overall profitability of future industries is expected to improve, with a median net profit forecast of over 650 billion yuan for 381 companies in 2025, reflecting a year-on-year increase of over 20% [5] Group 4 - Market funds are actively seeking undervalued potential stocks, with over 40 companies showing a decrease in shareholder numbers, indicating a concentration of shares [6] - Companies like Fuzhijun Technology and Zhongyuan Neipei have seen significant reductions in shareholder numbers, suggesting increased market attention [6] - Some companies, despite underperforming in the market, are positioned in sectors like embodied intelligence and quantum technology, presenting potential investment opportunities [6]

今日市场震荡分化，沪指最终顽强收红，走出九连阳，创下年内新纪录。此前沪指今年以来的最长连阳 纪录是"8连阳"，共发生两次：一次发生在4月11日—22日，另一次在8月4日—13日。今日市场全天成交 2.1万亿，两市下跌个股超3300只。 值得注意的是，贵金属市场在创下历史新高后回吐涨幅，黄金跌破4500，白银跳水翻绿，现货钯金跌超 11%，内盘碳酸锂、铂主力合约跌停。受此影响，A股黄金股集体调整，山东黄金、紫金矿业跌超2%， 锂矿概念大幅走低，欣旺达跌超11%。 其他热点方面，商业航天概念热度不减，神剑股份走出8连板，中国卫星走出4连板，航天发展等多股涨 停。油气板块表现强势，洲际油气、和顺石油等股涨停；脑机接口概念表现活跃，人形机器人等概念盘 中走强。 从个股看，两市上涨1995家，下跌3332家，139家涨幅持平。两市共90股涨停，共26股跌停。 截至收盘，沪指涨0.04%报3965.28点，成交9038亿元；深成指跌0.49%报13537.10点，成交12355亿元。 创业板指下跌0.66%，报3222.61点。 资金动向 今日主力资金重点抢筹电池、光伏设备、工业金属等板块，主力净流入居前的个股包括阳光电 ...

12月29日，A股三大指数早盘冲高回落，午后震荡走低，截止收盘，沪指涨0.04%报3965.28点，连续九 日走高，深成指跌0.49%报13537.1点，创业板指跌0.66%报3222.61点，科创50指数涨0.04%报1346.32 点；沪深两市成交额2.14万亿，全市场超3300只个股下跌。 脑机接口概念表现活跃，海格通信、喜临门等涨停，翔宇医疗、麦澜德、三博脑科、创新医疗等跟涨。 消息面上，12月28日，第五届脑科学前沿与产业大会暨2025深圳脑机接口博览会启幕，"粤港澳大湾区 脑科学与中枢神经疾病AI创新联盟"正式启动。 盘面上，机器人概念午后反复活跃，上纬新材、步科股份20cm涨停创历史新高，五洲新春、模塑科技 等多股涨停。商业航天概念延续强势，神剑股份8连板，金风科技、雷科防务等十余股涨停。碳纤维概 念表现活跃，吉林化纤、和顺科技双双涨停；锂矿概念下挫，欣旺达跌逾11%；医药商业板块走弱，漱 玉平民跌超18%；氟化工板块回调，漱玉平民跌逾8%；电池概念午后震荡下挫，华盛锂电跌超7%；电 力板块持续走弱，国电电力跌近8%。 热点板块 商业航天概念延续强势 商业航天概念延续强势，10余只成分股涨停，神 ...

A股三大指数今日涨跌不一，截至收盘，沪指涨0.04%，深成指跌0.49%，创业板指跌0.66%，北证50指 数跌0.45%，沪深京三市成交额21577亿元，较上日缩量234亿元。三市超3300只个股下跌。板块题材 上，碳纤维、脑机接口、多元金融、商业航天、人形机器人、光伏设备板块涨幅居前；医药商业、能源 金属、电池、食品饮料、化工板块跌幅居前。盘面上，商业航天产业链延续强势，神剑股份8连板，大 业股份4连板，泰尔股份3连板，苏州高新、中超控股、航天发展2连板。脑机接口板块表现活跃，三博 脑科、翔宇医疗、创新医疗涨幅居前。跨境支付、数字货币概念股同样表现积极，拉卡拉大涨10%。翠 微股份、四方精创领涨。此外，人形机器人、碳纤维、光伏设备等多个板块盘中轮动。另一方面，能源 金属板块午后下挫，盛新锂能、天齐锂业、赣锋锂业纷纷下跌。食品饮料板块集体走弱，妙可蓝多盘中 跌停，皇氏集团、南侨食品、西部牧业跟跌。 ...

Key Points - The article emphasizes the importance of systematic and practical strategies in investment analysis [2] - It discusses the favorable conditions for the spring market rally, including liquidity support and upcoming events that may influence market sentiment [8] - The article provides a detailed valuation comparison of various A-share indices, highlighting their current price-to-earnings (PE) and price-to-book (PB) ratios relative to historical percentiles [11][13] - It identifies specific industry sectors with high valuations, such as real estate and electronics, which are above the 85th percentile historically [11] - The article outlines investment themes for the upcoming year, including quantum technology, hydrogen energy, and brain-machine interfaces, indicating potential growth areas [16][18] - A strategic outlook for gold in 2026 is presented, focusing on the implications of the U.S. fiscal deficit and the trend of de-dollarization on gold prices [19]

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4] Core Insights - The report emphasizes the potential of brain-computer interface (BCI) technology and AI medical applications, predicting significant developments in 2026. It suggests focusing on innovative drug stocks and medical technology themes, particularly in the context of an aging population and the recovery of consumer spending in healthcare [3][5][42]. Summary by Sections 1. Policy Catalysts and BCI Application Potential - The brain-computer interface (BCI) technology is highlighted as a key area of growth, with the market expected to reach approximately $2.62 billion by 2024 and grow to $12.4 billion by 2034, reflecting a compound annual growth rate (CAGR) of 17.4% from 2025 to 2034 [12][18]. - The medical sector is projected to account for about 46% of the BCI application market in 2024, focusing on areas such as neurological rehabilitation and sensory diagnostics [13][18]. 2. Industry Perspective: Innovation and Global Expansion - The pharmaceutical index has shown a decline of 0.18% from December 22 to December 26, 2025, with a year-to-date increase of 14.29%. The report notes a significant number of stocks experiencing both gains and losses during this period [25][30]. - The report identifies key stocks to watch, including innovative drug companies and those involved in the BCI and AI medical sectors, suggesting a focus on companies like Heng Rui Medicine, Zai Lab, and others [42][45]. 3. Investment Opportunities - The report suggests that the pharmaceutical industry has completed a transition from old to new growth drivers, with innovative drugs leading the way. It highlights the increasing global competitiveness of Chinese pharmaceutical companies and their growing capabilities in international markets [41][42]. - Specific recommendations include focusing on innovative drugs, medical devices, and companies involved in the BCI sector, with a particular emphasis on those with strong fundamentals and potential for recovery in 2026 [42][44].

市场迷雾重重，还在为抓不住市场热点而焦虑？《掘金板块牛熊》帮你精准把握风格切换信号，带领你 看懂热钱的情绪周期。 每个交易日午间解密当天盘面热点的核心逻辑，《掘金板块牛熊》让你踩准市 场节奏，财富增值不迷路！ 【今日早盘观察】 ①牛榜 - "塑料中的黄金"PEEK材料概念走强！恒勃股份"20cm"涨停,超捷股份、光威复材、南京聚 隆、华密新材、双一科技、富恒新材等跟涨。PEEK材料牛在哪？产业链的核心股有哪些？ ②牛榜 - 脑机接口概念震荡走强！翔宇医疗涨超10%，倍益康、创新医疗、三博脑科、美好医疗、 博拓生物跟涨。脑机接口迎确定性关口，会有下一只翻倍股吗？ ③熊榜 - 锂电池板块震荡调整！锂矿、电解液方向领跌，欣旺达、宏源药业跌超10%，多氟多、天 华新能、大中矿业、海科新源、清水源均跌超7%。锂电板块怎么看？ 点击付费阅读，解密今日盘面热点的核心逻辑！ 前言 ...

上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限量发放！先到先得！ 在这岁末年初的交替阶段，A股市场迎来两个"惊喜"。 一是商业航天板块强者恒强的走势，成为市场人气最高的板块。 今天上午，多元金融、碳纤维、燃气、风电设备等板块表现活跃，这些看似"不相干"的板块，背后 却因为商业航天板块交易逻辑扩散，串联了起来。 二是上证指数的连阳走势。 今天 上午， 上证指数继续上涨，日线迎来"9连阳 " 。截至12月26 日，上证指数今年以来的最长连阳纪录是"8连阳 " ，共发生两次：一次发生在4月11日—22日， 另一次在8月4日—13日。 今天 下午，上证指数若保持涨势，将迎来日线"9连阳 " ，打破此前 的"8连阳 " 纪录。 今天上午，算力产业链、消费电子、有色金属等板块上涨，锂电产业链回调。截至午间收盘，上证 指数上涨0.31%，深证成指上涨0.03%，创业板指下跌0.32%。 | 上证指数 | 深证成指 | 创业板指 | | --- | --- | --- | | 3975.92 | 13607.39 | 3233.53 | | +12.24 +0.31% | +3.50 +0.03% ...

新华财经上海12月29日电（王骋）12月29日，在海南举行的"天天象棋杯"中国象棋协会年度总决赛现 场，一场特殊的对弈吸引了全场目光。重庆脑瘫棋手韩彬彬佩戴着轻巧的头部设备，凝视棋盘，仅 凭"意念"驱动，与他的偶像、象棋特级大师孟辰展开对局，成功运用非侵入式脑机接口技术竞技对战。 "鼻尖"到"意念"，一位棋手的圆梦时刻 在赛事现场，仅靠一套普通的非侵入式脑机接口，大脑视觉皮层产生的微弱电信号经由算法精准实时解 码，最终实现棋子操控。 赛事主办方"天天象棋"制作人黄世兴表示，"从帮助色弱群体的'色彩增强模式'，到服务全盲人士的'无 障碍版'，再到今天助力行动不便者'意念下棋'，赛事将继续探索科技普惠实践。" 从赛场到大众日常，脑机接口普惠未来 赛场之外，该脑电大模型目前已在多个领域展现出潜力：在医疗辅助场景，该模型在28项非侵入脑电疾 病筛查实验中表现优于传统算法；在交互娱乐领域，已实现97%的操作精度、低于60毫秒刷新率及超过 10个自由度的脑控体验，可流畅操控3A游戏；在辅助生活方面，远程精细脑控机械狗等技术为行动不 便者提供了新的可能性；在智能家居领域，非侵入式脑机也能成为房间的万能钥匙…… 韩彬彬是一位 ...

12月29日消息，港股三大指数集体上涨。截至午间收盘，恒生指数涨0.26%，报25886.75点，恒生科技 指数涨1.60%，国企指数涨0.77%。盘面上，科网股普涨，网易、美团涨超2%，百度、联想、快手、哔 哩哔哩涨超1%；汽车股走强，蔚来涨超6%；脑机接口概念普涨，心玮医疗涨超10%；纸业股涨幅居 前，玖龙纸业涨超4%。 | 名称 | | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 但生科技指数 | NY | 5587.24 | +1.60% | | 800700 | | | | | 国企指数 | ี | 8983.59 | +0.77% | | 800100 | | | | | 恒生指数 | 200 | 25886.75 | +0.26% | | 800000 | | | | 汽车股走强，蔚来涨超6%。方正证券发布研报称，中央经济工作会议及财政部明确优化"两新"政策， 多地遴选以旧换新平台企业。据媒体披露，2026年国补将延续，单车最高补3万元，聚焦淘汰老旧高排 放车辆，同时提升新能源补贴与混动车型纯电续航门槛。 脑机接口概念普涨，心玮医疗涨超10%。光大证券发布 ...