近日，亚辉龙发布公告称，公司于2026年1月6日收到上海证券交易所的问询函，涉及其与深圳脑机星链科技有限公司 签署的战略合作框架协议。 问询函要求公司补充披露脑机星链的主要技术路线、产品类型及应用领域，并分析双方在市场推广中的协同性及可行 性。此外，需说明公司在相关合作领域的在研项目及预计投入金额，以及未来签署具体研发协议的时间安排。同时， 问询函提到公司2025年前三季度营业收入和净利润分别同比下滑7.69%和72%，要求公司解释业绩下滑原因及对主营业 务的影响。 同日，亚辉龙发布补充公告称，合作方脑机星链公司规模较小、成立时间短。其睡眠领域在研产品包括脑电采集分析 仪、脑机接口助眠仪、睡眠监测仪及迷走神经刺激仪等，均尚未进入注册申报阶段，其中迷走神经刺激仪目前处于二 类医疗器械注册检验准备环节。阿尔茨海默症、孤独症及脑卒中诊断相关产品仍处早期研发或临床前研究阶段。 公司同时明确，脑机星链采用非侵入式技术路径，与Neuralink等侵入式技术存在本质差异，且目前未布局侵入式技 术。本次协议仅为战略合作意向框架，尚无实质合作内容，后续具体合作将以实际业务合同为准，在研产品进展、未 来商业化及协议执行均存在不确 ...

21世纪经济报道记者 季媛媛 用意念玩游戏、签名字，让渐冻症患者靠机械臂自主进食——这些听起来像科幻大片的情节，正被脑机 接口技术一点点变为真实。 脑机接口产业正迎来空前发展机遇，其技术应用正逐步跨越实验室研发与市场化落地的界限。 业内将2025 年视为中国脑机接口的"发展元年"，这一年脑机接口产业迎来历史性拐点，政策扶持、资 本加码与技术突破共同奏响的发展"三重奏"，奏响了产业提速最强音。 据新华社消息，美国企业家埃隆·马斯克2025年12月31日在社交媒体上表示，其脑机接口公司"神经连 接"（Neuralink）将于2026年开始对脑机接口设备进行"大规模生产"，并转向"更加精简和几乎完全自动 化的外科手术流程"。马斯克表示，该设备的电极丝将直接穿过硬脑膜，而无需将其切除，此举意义重 大。 国家层面，"十五五"规划建议明确将脑机接口作为前瞻布局的未来产业。国务院发展研究中心产业经济 研究部副部长许召元指出，脑机接口的发展已具备产业化基础，同时作为高端产业，还能为其他相关产 业转型升级提供牵引和带动作用。 据悉，Neuralink公司2024年1月28日完成了该公司首例脑机接口设备人体移植。截至2025年9 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：证券市场周刊 文丨张桔 国内生产睡眠呼吸机的上市公司包括了瑞迈特、鱼跃医疗等几家，从这一角度看还属于蓝海区域，不过 细分赛道中的龙头企业实力已经着实可观。 虽然2025年创新药投资成为医药生物中最热的存在，但同时生活医疗的快速崛起也让传统的医药耗材有 了二度的用武之地，比如呼吸机，目前其在睡眠呼吸障碍类疾病上的应用愈发广泛，从而也让家用呼吸 机有了更为宽阔的应用空间。 从原理来看，家用呼吸机主要是用来辅助治疗COPD和OSA的。就后者而言，其全名叫阻塞性睡眠呼吸 暂停，患有OSA的人临床表现通常为习惯性打鼾，睡觉中容易因憋气、喘息或窒息而醒，容易白天嗜睡 且疲劳或失眠。不过问题在于，对于患有OSA的人来说，通常他们不会将其看成疾病来治疗，因此家用 的医疗设备对于其中的中重度患者来说更为关键。 从走势上来看，2025年截至目前，瑞迈特的股价上涨约为29%，扭转了此前三年股价连跌的局面。今年 8月下旬时，该股的股价一度涨破百元大关，而遭遇了近期的震荡整理后，近期该股的股价暂时回落到 80元一线的平台。 而该股之所以能够逆转年线三连跌， ...

证券代码：301367 证券简称：瑞迈特 北京瑞迈特医疗科技股份有限公司 投资者关系活动记录表 编号：2025—019 | □ | 特定对象调研 分析师会议 □ | | --- | --- | | 投资者关系活动 □ | 媒体采访 业绩说明会（电话形式） □ | | 类别 □ | 新闻发布会 √ 路演活动 | | □ | 现场参观 | | □ | 其他 | | 参与单位名称 | 详见附件清单 | | 时间 | 2025 年 12 月 25 日-2025 年 12 月 26 日 | | 地点 | 北京、深圳 | | 上市公司接待人 | 副总经理兼董事会秘书：杜祎程 | | 员姓名 | 证券事务代表：刘士岩 | | | 一、公司简要介绍 | | | 公司 年成立，2003 年第一台多导睡眠监测仪上市，2007 2001 | | | 年第一台 年通过 年 CPAP 睡眠呼吸机上市，2008 CE 认证，2012 | | | 通过美国 认证，2016 年 新品牌成立，同年呼吸数据管 FDA BMC | | | 年 月 日公司在深交所创业板上市成功。 理云上线，2022 11 1 | | | 公司专注为 OSA、COP ...

证券研究报告 | 首次覆盖报告 gszqdatemark 2025 12 24 年 月 日 松霖科技（603992.SH） 机器人+大健康，新增长曲线清晰 智能厨卫起家，关税摩擦负面影响逐渐消退 公司传统主营业务为智能厨卫产品，客户以高端厨卫、家居、美容健康等 领域的品牌商为主。公司海外营收占比较大，2024 年境内营收 7.51 亿元， 境外营收 22.64 亿元，境外营收占比 75.1%。2025 年上半年受关税影响 较大，但随着越南基地一期于 2025 年 6 月份投产，海外订单交付满足能 力迅速提高；二期产能正在加紧建设，计划 2026 年上半年投入运营，全 面达产后总产值超 2 亿美元。随着一二期产能的逐步达产，业绩持续改善 趋势有望延续。 高毛利率美容健康类产品发力增长 "健康+颜值"正成为消费新方向。2024 年，公司美容健康类产品实现收 入 3.59 亿元，同比增长 38.4%。且美容健康产品附加值高，毛利率显著 高于智能厨卫产品，2024 年毛利率 49.18%，比传统智能厨卫品类高 15pct 以上，利润空间可观。当前公司大力发展美容健康类业务，美容健康类产 品保持高增长，预计产品结构优化 ...

近日，钛媒体「2025 EDGE AWARDS创新评选」榜单揭晓，BMC瑞迈特（301367.SZ）凭借在呼吸健康 领域的持续创新与卓越表现，荣获"最佳行业突破品牌"奖项。该奖项旨在表彰以突破性发展势能在行业 层面树立标杆的优秀品牌。此次获评，标志着BMC瑞迈特已成为呼吸健康赛道中兼具技术实力与品牌 影响力的价值引领者。 这一奖项的取得，源于BMC瑞迈特在技术研发、产品创新、业绩增长与社会责任等多维度扎实积累与 协同发力。其不仅通过技术自主创新实现产品有效性、舒适性与智能化跨越，延伸产品矩阵满足多场景 健康管理需求，更以持续高速增长的财务表现和深入全球的本土化运营，验证了其发展的韧性与潜力。 BMC瑞迈特2025年三季度报告显示，前三季度实现营业收入8.08亿元，同比增长34.24%；归属于上市 公司股东的净利润1.8亿元，同比增长43.87%，实现了营收与净利润持续双增。第三季度境内市场毛利 率得到持续优化，同比增长14.57%，环比增长11.63%；在美国地区收入同比增长63.46%，环比增长 52.28%。 公开资料显示，公司产品已通过美国FDA、欧盟CE等多国认证，产品覆盖全球140多个国家和地区，受 ...

证券代码：301367 证券简称：瑞迈特 公司持续保持较大规模的研发投入，并取得了丰厚的研发成 果。截至 2025 年 6 月 30 日，公司拥有 666 项国内有效专利，其 中国内发明专利 116 项、国内实用新型专利 404 项、国内外观设 计专利 146 项；海外授权专利共计 266 项，其中包括美国专利 45 项、欧洲专利 38 项、欧盟外观专利 63 项、土耳其专利 20 项、日 本专利 22 项、澳大利亚专利 6 项、印度专利 18 项。 二、提问环节 1、对于美国市场，公司新无噪音棉呼吸机的销售推进情况 与市场表现。 新无噪音棉呼吸机于自 7 月开始已经批量进入美国市场，第 三季度美国 RH 的动销水平逐月提升明显，随着新呼吸机医疗报 销码的取得，后续放量较第三季度会相对明显。 北京瑞迈特医疗科技股份有限公司 投资者关系活动记录表 编号：2025—018 | □ | 特定对象调研 分析师会议 □ | | --- | --- | | 投资者关系活动 □ | 媒体采访 业绩说明会（电话形式） □ | | 类别 □ | 新闻发布会 √ 路演活动 | | □ | 现场参观 | | □ | 其他 | | ...

Core Insights - BMC瑞迈特 is transitioning from a single supplier of respiratory devices to a comprehensive health management service provider for chronic respiratory diseases, focusing on technology and market demand for strategic upgrades [1][9] - The company has established itself as the second-largest global provider and the largest in China for respiratory health management solutions, with over 20 years of experience in the field [1][2] Technology and Innovation - BMC瑞迈特 holds 932 domestic and international patents, with over 90% concentrated in the sleep respiratory field, showcasing its long-term technological accumulation and industry leadership [2][3] - The company has successfully developed domestic production capabilities for key components, enhancing product performance and supply chain stability, which benefits the entire respiratory device industry [4] - BMC瑞迈特's unique high-flow intelligent airflow technology adjusts oxygen flow based on patient breathing, improving comfort and reducing oxygen consumption [4] Market Position and Performance - The company has sold over 3 million respiratory machines and 10 million masks, with a strong reputation and user recognition contributing to its growth [6] - Following the Philips recall incident in 2021, BMC瑞迈特 rapidly increased production capacity and filled market gaps, leading to significant sales growth [6] - In Q3 2025, the company reported revenues of 264 million yuan, a 20.22% increase year-on-year, and a net profit of 49 million yuan, up 48.61% year-on-year, continuing its strong performance throughout the year [6] Strategic Upgrades - The company rebranded from "怡和嘉业" to "瑞迈特" to align its trademark with its corporate identity, enhancing brand recognition in the domestic market [7] - BMC瑞迈特 has developed a global operational system, with localized strategies in the US, Europe, and India to cater to different market needs [8] Future Development - The company aims to build a comprehensive ecosystem for respiratory health management, transitioning from a product supplier to a full-scenario solution provider [9][10] - Future growth will focus on deepening overseas market engagement and enhancing domestic brand building, with new product launches expected in the coming years [10]

Core Insights - BMC瑞迈特 is transitioning from a single supplier of respiratory devices to a comprehensive health management service provider for chronic respiratory diseases, focusing on technology and market demand for strategic upgrades [1][6] - The company has established itself as the second-largest global provider and the largest in China for respiratory health management solutions, with over 20 years of experience in the field [1][2] Technology and Innovation - BMC瑞迈特 holds 932 domestic and international patents, with over 90% concentrated in the sleep respiratory field, showcasing its technological leadership [2] - The company has developed a domestic supply chain for critical components, enhancing product performance and supply chain stability, which benefits the entire respiratory device industry [3] - BMC瑞迈特 has created the largest domestic respiratory health management cloud platform, leveraging patient data for potential applications in disease prediction and treatment optimization [3] Market Position and Growth - The company has sold over 3 million respiratory devices and 10 million masks, with a strong reputation and user recognition contributing to its growth [4] - Following the Philips recall incident in 2021, BMC瑞迈特 rapidly increased production capacity and filled market gaps in the U.S., leading to significant sales growth [4][5] - In Q3 2025, the company reported revenues of 264 million yuan, a 20.22% increase year-on-year, and a net profit of 49 million yuan, up 48.61% [5] Strategic Upgrades - The company rebranded from "怡和嘉业" to "瑞迈特" to align its trademark with its corporate identity, enhancing brand recognition in the domestic market [5] - BMC瑞迈特 has established a global operational framework, including partnerships in the U.S., a subsidiary in France, and service centers in India, to cater to diverse market needs [6] Future Outlook - The company aims to build a comprehensive ecosystem for respiratory health management, focusing on prevention and treatment, with a projected market size in the hundreds of billions [6][7] - BMC瑞迈特 plans to enhance its core products while expanding into new areas such as oxygen therapy and chronic disease rehabilitation, aiming for significant growth in the next three years [7] - The long-term vision is to become the preferred platform for global respiratory health management, integrating data and resources to connect patients, manufacturers, and healthcare providers [7]

Company Overview - Beijing Ruimait Medical Technology Co., Ltd. was established in 2003 and launched its first multi-channel sleep monitor in the same year [2] - The company specializes in providing comprehensive treatment solutions for OSA and COPD patients, covering diagnosis, treatment, and chronic disease management [2] - It is a leading domestic enterprise in home non-invasive ventilators and masks, being the first domestic company to have non-invasive ventilator products approved by the FDA [2] - As of June 30, 2025, the company holds 666 valid domestic patents, including 116 invention patents and 404 utility model patents [3] Market Performance - The new noise-free cotton ventilator has shown significant sales growth in the U.S. market since its launch in July 2025, with a noticeable increase in sales levels in the third quarter [4] - The company has engaged over 1,000 primary and secondary agents in Europe, facilitating a transition from non-mainstream to mainstream insurance markets, which is expected to drive growth [5] Consumables Business - The consumables segment has maintained stable growth due to high usage frequency and profit margins, supported by strategic initiatives in various markets: - In the U.S., a consumables team was established in 2023, implementing active marketing strategies and distributing masks to sleep monitoring institutions to enhance brand recognition [6] - In Europe, a data-oriented subsidiary was established in France to address local insurance reimbursement issues and attract more agents [6] - In the domestic market, increasing awareness of chronic diseases is driving market penetration and growth in the number of ventilators [6][7] Production and Supply Chain - The company operates two manufacturing plants in Dongguan and Tianjin, with production capacity dynamically adjusted based on market demand [7] - The localization of core components has been largely achieved, ensuring supply chain security and cost advantages [7] - Future plans include optimizing domestic supply chain collaboration to enhance business stability and core competitiveness [7]