不过1月6日晚间翔宇医疗发布的股票交易异常波动公告提示，近期资本市场对人脑工程、脑机接口等概 念关注度较高，相关板块股价涨幅较大。公司目前主要聚焦非侵入式脑机接口技术，覆盖作业疗法、运 动疗法、认知言语、吞咽等康复全场景布局，与当前国际上的侵入式脑机接口技术路线存在差异。公司 在脑机接口方面的投入，目前在技术、产品、渠道市场等方面形成一定的布局，但招投标和销售等具有 滞后性，截至2025年末，相关产品尚未实现规模化销售，营收占比较小。 翔宇医疗称，2025年前三季度，公司实现营业收入5.37亿元，同比增长6%；归属于上市公司股东的净 利润4398.15万元，同比下降40.09%。公司近期日常经营情况、内部生产经营秩序正常，未发生重大变 化，市场环境或行业政策未发生重大调整。公司持续加大研发投入，2025年前三季度60%以上研发投入 投向与脑机接口相关方向，技术方面实现自研自产，已获得脑电图机、便携式脑电图机两项注册证。公 司具备行业内较全体系的康复装备基础和整体解决方案，可快速形成"脑机接口技术+自有康复设备"的 深度融合。公司脑机接口产品已进入500多家三甲医院，2026年目标覆盖超千家三甲医院，有望加速产 ...

本文首发于公众号"私募排排网"。 （点击↑↑ 上图查看详情 ） 在瞬息万变的资本市场中，私募基金的调研轨迹，往往被视为洞察未来风向的 "先知"信号。每一次深入的实地调研，都是机构穿透市场噪音、 验证投资假设、挖掘价值内核的关键行动。2025年，中国私募行业在规模突破22万亿元的历史性关口下，其调研行为更显战略分量——这不仅 是对宏观复苏与结构转型的微观映射，更是机构为谋篇布局、决胜未来所做的扎实预演。 当时间步入年末的12月，这场无声的"布局战"进入高潮。以高毅、淡水泉、景林为代表的头部私募，调研频次不减。从2025年全年来看，根据 Chocie数据，共有4527家私募机构对4611家A股上市公司进行调研，获私募机构调研居前5的公司依次为水晶光电、中控技术、汇川技术、华勤 技术、九号公司-WD。为了更清晰了解知名私募的动向，笔者梳理了高毅、淡水泉、景林、宁泉等私募的12月调研动向，供读者参考。 （ 点此 领取名单 ） 2025年私募调研家数TOP20的A股公司 स्ते 臺 诗 私募排排网公众号 Q 数据来源:Chocie,整理自私募排排网,截至2025年12月31日 | 排序 | 证券简称 | 私募调研家数 ...

1月6日主力资金净流入811.49万元；游资资金净流出226.42万元；散户资金净流出585.07万元。 龙虎榜上榜 截至2026年1月6日收盘，伟思医疗(688580)报收于69.7元，上涨20.01%，已连续涨停2天，换手率 10.74%，成交量10.29万手，成交额6.98亿元。 当日关注点 交易信息汇总 资金流向 南京伟思医疗科技股份有限公司股票交易异常波动公告 南京伟思医疗科技股份有限公司股票连续三个交易日内收盘价格涨幅偏离值累计超过30%，属于股票交 易异常波动。经公司自查，确认不存在应披露而未披露的重大事项，生产经营正常，未发生重大变化。 公司主营业务聚焦康复医疗器械领域，脑机接口新产品处于市场培育初期，尚未实现规模化销售，对营 收贡献有限。2025年前三季度实现营业收入3.26亿元，同比增长11.58%；归母净利润1.02亿元，同比增 长30.68%。公司提醒投资者注意投资风险，理性决策。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 来自交易信息汇总：1月6日主力资金净流入811.49万元，显示主力对个股关注度提 ...

翔宇医疗 20251227 摘要 翔宇医疗前三季度将约 60%的研发费用投入脑机接口领域，通过协同 20 多个事业部团队，结合康复设备与脑机接口技术，实现技术提升和产 品迭代，并在临床验证方面投入较高，为未来发展奠定基础。 公司脑控系列产品已进入超过 500 家国内顶尖临床机构，并获得良好反 馈。在国家政策支持下，积极推进产品取证及临床推广，与各地药监局 进行差异化沟通，加速注册进程，并与三甲医院共建示范病房，开展临 床研究和应用合作。 翔宇医疗通过共建示范病房或治疗专区，与各地医院展开广泛合作，推 动临床研究并积累大量数据，同时，各地医保收费政策也为商业化提供 重要支持，例如山东地区已实现每日收费，加速商业化进程。 公司计划明年推出几十款新品，使整体产品矩阵达到 100 多款，丰富产 品线，加快市场占领速度，提升临床反馈质量，通过持续的数据积累和 算法优化，不断提升技术水平，保持行业领先地位。 目前脑机接口技术对公司乃至整个行业来说仍然是新生事物，短期内不 会形成大规模销售收入贡献，预计 2026 年随着更多产品获得注册证以 及市场推广进展，将有较大体量的销售收入。 Q&A 今年翔宇医疗在脑机接口领域的布局 ...

Core Viewpoint - The company is cautiously advancing its investment and acquisition efforts in the rehabilitation medical device industry, focusing on external growth through integration and partnerships, despite recent declines in revenue and profit [1][2][3] Group 1: Financial Performance - Since its listing in 2021, the company's revenue and net profit peaked in 2023 but began to decline thereafter, with a projected revenue of 744 million yuan in 2024, down 0.17% year-on-year, and a net profit of 103 million yuan, down 54.68% year-on-year [2] - For the first three quarters of 2025, the company reported a revenue of 537 million yuan, a year-on-year increase of 6.00%, but a net profit of 44 million yuan, down 40.09% year-on-year, primarily due to increased sales and R&D expenses [3] Group 2: Research and Development Focus - The company is increasing its R&D investment, with a total of 140 million yuan in R&D for the first three quarters of 2025, a year-on-year increase of 34.69%, representing 26.11% of revenue, up 5.56 percentage points year-on-year [3] - The company is focusing its R&D efforts on rehabilitation robots and brain-computer interface technologies, with significant projects approved in the field of elderly care, including a specialized bathing robot [4][5] Group 3: Strategic Projects - The company is leading a project for the development and application of a specialized bathing robot for home care, aiming to improve safety, comfort, and cleanliness for bedridden elderly individuals [4] - The company has established a brain-computer interface laboratory and is integrating this technology into its rehabilitation products, which is expected to enhance recovery outcomes for patients [5]

Group 1: Industry Development - The food industry in Linying County is well-developed with distinct characteristics, particularly in the health sector, as exemplified by Wo Health (Henan) Industry Group Co., Ltd., which focuses on rehabilitation medical devices and functional foods [3] - The emphasis on the "Healthy China" initiative aligns with the development of the health industry, providing new opportunities for enterprises [3] - The company Henan Zhongda Hengyuan Biotechnology Co., Ltd. is a pioneer in the application of natural pigments in the food sector, highlighting the importance of innovation and market expansion in the food industry [3] Group 2: Cultural and Tourism Integration - The need to strengthen the protection and utilization of cultural relics while developing rural tourism and leisure agriculture is emphasized, promoting the integration of agriculture, culture, and tourism [3] Group 3: Grassroots Governance and Community Engagement - The grassroots governance in the Ma Lu Street community is noted for its unique characteristics, with a focus on effective governance and community service [5] - The integration of "Party building + grid + big data" governance methods is encouraged to resolve conflicts and improve community services [5] - The development of new e-commerce models, such as "live streaming + culture + food," is promoted to leverage the digital economy and enhance local brand strength [5]

Group 1 - The 2025 Silver Economy High-Quality Development Forum was held in Chengdu, focusing on "Technology Empowering Senior Life," highlighting the growing importance of the silver economy [1] - Xiangyu Medical has established a research and development center and an intelligent manufacturing demonstration base in Chengdu's Wenjiang District, aiming to deepen its involvement in the rehabilitation medical market for the elderly [1] Group 2 - The global brain-computer interface (BCI) market is experiencing rapid growth, projected to reach $3.3 billion by 2027, with a compound annual growth rate (CAGR) of approximately 13.5% [2] - The domestic BCI market in China is expected to reach 3.2 billion yuan in 2024, with an annual growth rate of 18.8%, and is anticipated to exceed 3.8 billion yuan in 2025 and 5.5 billion yuan by 2027, maintaining an average growth rate of around 20% [2] - There is significant rehabilitation demand among patients with conditions such as stroke, spinal cord injuries, traumatic brain injuries, Parkinson's disease, Alzheimer's disease, and swallowing disorders, indicating a vast potential market for BCI applications in medical rehabilitation [2] Group 3 - Xiangyu Medical has established the Sun-BCI Lab in 2015, integrating five platforms for brain signal acquisition, decoding algorithms, and multimodal interaction, making it one of the leading companies in the practical application of BCI technology in China [3] - The company emphasizes a "clinical demand-oriented" research and development approach, collaborating closely with clinical experts in various medical fields to ensure that products effectively address clinical pain points [3] - The forum was organized by several associations and institutions, aiming to create a platform for industry resources and wisdom to support the high-quality development of the silver economy in China [3]

Core Insights - The implementation of the "Implementation Opinions on Promoting the Innovation and Development of Brain-Computer Interface Industry" injects new momentum into the rehabilitation medical sector, with Xiangyu Medical focusing on brain-computer interface technology to transition from passive treatment to active rehabilitation [2][5]. Company Overview - Founded in 2002, Xiangyu Medical has been dedicated to the rehabilitation sector, emphasizing non-invasive therapies to protect patient health [3]. - The company has developed a comprehensive product system in rehabilitation medical devices, covering 10 categories, 55 series, and thousands of products, making it a versatile player in the industry [4]. Research and Development - Xiangyu Medical invests over 20% of its main business revenue into R&D annually, which has previously impacted profit margins but is expected to improve with the launch of high-margin new products [4]. Brain-Computer Interface Technology - Since 2015, Xiangyu Medical has been developing brain-computer interface technology to address the contradiction between active rehabilitation and passive treatment, achieving significant results in stroke patient rehabilitation [5][6]. - The company focuses on non-invasive brain-computer interfaces, which are becoming more affordable and marketable, facilitating wider adoption in hospitals [6]. Market Potential - The rehabilitation medical market in China is projected to reach a trillion-level scale, driven by an aging population and increasing health demands, with ample room for growth as no absolute market leader currently exists [7]. - Xiangyu Medical aims to become a leader in the rehabilitation medical industry by providing integrated rehabilitation solutions and enhancing its technological capabilities [7][8]. Future Goals - The company plans to optimize its industrial structure and cultivate new business growth points to enhance its core competitiveness and value creation, aiming to become a world-class rehabilitation medical enterprise [8].

Core Viewpoint - Xiangyu Medical (688626.SH) has shown significant growth in the rehabilitation medical device industry, with a focus on brain-computer interface technology and a strong commitment to research and development [1][2][4]. Financial Performance - In the first half of 2025, the company achieved total revenue of 359 million yuan, with 173 million yuan in the second quarter, and a net profit attributable to shareholders of 35.39 million yuan [1]. Industry Position - Xiangyu Medical is one of the few comprehensive enterprises in China's rehabilitation medical device sector, providing products, integrated clinical rehabilitation solutions, and professional technical support [1]. - The company is recognized as one of the first "little giant" enterprises in the national specialized and innovative category [1]. Technological Development - The company has made early investments in brain-computer interface technology, focusing on non-invasive applications in rehabilitation [2]. - In the first half of 2025, the company invested 91.15 million yuan in research and development, accounting for 25.39% of total revenue, with a year-on-year increase of 38.8% [4][5]. - The company has filed for 117 new patents, bringing the total to 1,933, including 22 new invention patents [5]. Market Outlook - The rehabilitation medical device industry is projected to exceed 220 billion yuan in total revenue by 2025, indicating strong market demand [7]. - The brain-computer interface market is expected to reach 3.8 billion yuan by 2025 and 5.58 billion yuan by 2027, with a compound annual growth rate of 20% [7]. - Long-term projections suggest that the brain-computer interface market in China could surpass 120 billion yuan by 2040, with a compound annual growth rate of 26% [7]. Strategic Collaborations - The company has established partnerships with universities and research institutions for the development and transformation of brain-computer interface technologies [3]. - Xiangyu Medical has launched 13 brain-computer interface devices at recent industry forums, gaining significant attention [6].

Group 1 - The core point of the article is that Chengyitong (SZ 300430) announced the results of its board meeting held on August 26, 2025, where the 2025 semi-annual report and its summary were reviewed [1] - For the first half of 2025, Chengyitong's revenue composition was 71.11% from intelligent manufacturing and 28.89% from rehabilitation medical devices [1]