丨证券研究报告丨 请阅读最后评级说明和重要声明 行业研究丨点评报告丨软件与服务 [Table_Title] Neuralink 发布重大突破，关注脑机接口迭代进 展 %% %% 报告要点 %% %% [Table_Summary] 当地时间 6 月 27 日，马斯克旗下脑机接口公司 Neuralink 发布了一段长达一小时的视频，展示 了他们最新的研究成果及产品发展方向。此次，作为世界领先的脑机接口企业，Neuralink 试验 的实际进展展示了脑机接口的可能性，其未来规划有望明确产业发展方向，并加速脑机接口大 规模商业化落地进度。建议关注三条主线：1、侵入式脑机接口海外先进产业链的国内映射标 的；2、非侵入式脑机接口在消费场景的产品落地相关标的；3、脑机接口下游应用端相关标的。 分析师及联系人 [Table_Author] 宗建树 SAC：S0490520030004 SFC：BUX668 1 软件与服务 cjzqdt11111 [Table_Title Neuralink 发布重大突破，关注脑机接口迭代进 2] 展 [Table_Summary2] 事件描述 当地时间 6 月 27 日，马斯克旗下脑机接口 ...

近日，豆包"深入研究"功能已经在豆包App、网页版及电脑版正式开启测试，用户可免费体验。基于模 型的搜索、推理及Agent 能力，"深入研究"可以帮助用户更快速、全面和结构化地处理高难度的复杂任 务。 ...

6月30日，脑机接口概念股出现震荡拉升。创新医疗强势涨停，爱朋医疗、翔宇医疗、倍益康等多只个 股涨幅超过10%。南京熊猫、荣泰健康、三博脑科、诚益通等相关标的涨幅均超过5%。 马斯克在展示中特别提到了与特斯拉人形机器人Optimus的结合。脊髓损伤患者Alex未来将连接Optimus 机械手。这将实现更复杂的操作功能。马斯克表示，未来人们有可能通过Neuralink完全控制Optimus的 身体。 Neuralink目前研发三款主要产品。"心灵感应"针对脊髓损伤、中风等运动障碍患者。"盲视"致力于帮助 视障者恢复视觉感知。"深入"神经调节产品面向神经调节障碍、精神疾病及神经痛患者。 脑机接口技术被誉为"21世纪最具颠覆性的技术"。2023年至2024年，全球脑机接口领域迎来关键突破。 Neuralink获得FDA批准开展人体临床试验。中国"北脑一号"完成首例无线植入手术。这些里程碑事件标 志着脑机接口技术正从实验室快速走向商业化应用。 在相关上市公司中，创新医疗参股的博灵脑机专注脑机接口技术。博灵脑机C端产品已进入批量生产阶 段，预计将于2025年陆续实现上市销售。荣泰健康与傲意科技共建了"脑机交互联合实验室 ...

以下文章来源于创业板观察 ，作者宋子乔 创业板观察 . 创业板观察致力于发布深交所创业板的市场发展、政策变化、监管导向、上市企业动态等的及时信息， 提供有价值的市场资讯。 当地时间6月27日，马斯克带领Neuralink 脑机接口团队举行了一场持续1小时的发布会，展 示了最新进展以及三年路线图。 据介绍，目前Neuralink的受试者已经达到7人， 其中涵盖4名脊髓损伤患者与3名肌萎缩侧索 硬化症（ALS）患者，受试者们平均每周使用设备时长约50小时，峰值超100小时，几乎只要 是清醒的时间都在用。 通过Neuralink的"心灵感应"（Telepathy）产品，他们能够通过脑信号控制玩《马里奥赛 车》《使命召唤》等游戏，甚至用意念操控机械臂写字，与外界重新建立交互。 Neuralink目前已形成三大产品线（如下），受试者使用时长延长是脑机接口技术从实验室概 念迈向临床实用化的关键跨越。 心灵感应（Telepathy）： 针对运动障碍患者，64通道设备已实现意念操控电子设 备与机械臂，Alex案例中展现的特斯拉机械手协同操控，标志着其技术已触及神经 假肢的实用化临界点； 2026年：将电极通道/数量增加到30 ...

Core Viewpoint - The decision from the 20th National Congress of the Communist Party emphasizes the need to advance the ecological environment damage compensation system, guiding the reform direction and raising higher requirements for the implementation of the system [1] Group 1: Deepening Procedural Coordination - The "Opinions" highlight procedural coordination as a key focus throughout the ecological environment damage compensation process, aiming to streamline various procedures such as administrative enforcement and litigation [2] - Specific provisions are made to avoid redundancy in the claims process, stating that if ecological damage has been repaired through other means, it will not initiate a claim [2] - The "Opinions" enhance the connection with administrative enforcement, including new measures such as using administrative enforcement materials as evidence for claims and forming joint investigation teams [2] Group 2: Strengthening Connections with Environmental Public Interest Litigation - The "Opinions" strengthen the connection with environmental public interest litigation, establishing new regulations for communication and support between the People's Procuratorate and the compensation process [3] - It allows for the participation of the People's Procuratorate in compensation negotiations and provides for their involvement in supervision during restoration [3] Group 3: Refining Regulatory Interpretations - The "Opinions" provide more operational standards for three types of cases defined in the management regulations, particularly clarifying the criteria for "significantly minor" damage cases [4] - It specifies that cases with minimal damage or no significant impact can be exempt from initiating claims, while also outlining exceptions where claims must still be initiated [4] Group 4: Optimizing Case Handling - The "Opinions" introduce new measures to improve the quality of handling ecological environment damage compensation cases, including setting reasonable investigation timelines and utilizing various technical methods [7] - It encourages local authorities to develop specific guidelines for damage assessment and emphasizes the need for clear reporting on the feasibility of ecological restoration [7] - The "Opinions" also detail the process for negotiation and judicial confirmation of compensation agreements, ensuring timely litigation if negotiations fail [7] Group 5: Enhancing Restoration Efforts - The "Opinions" introduce new content regarding alternative restoration, clarifying that restoration efforts can be organized by designated departments when the responsible party cannot fully restore the damage [8] - It encourages the establishment of a project library for alternative restoration and emphasizes the importance of community involvement in selecting projects [8] Group 6: Overall Impact of the Reform - The ecological environment damage compensation system has evolved over the past decade, with increasing levels of scientific and legal sophistication, playing a more significant role in ecological damage relief [9] - The introduction of the "Opinions" marks a new phase in advancing the reform of the ecological environment damage compensation system through procedural coordination, regulatory refinement, and case handling optimization [9]