Group 1: Industry Developments - The "5G Brain-Heart Mobile" innovative medical service platform, developed by Guangzhou Medical University Affiliated Brain Hospital, is set to launch on August 29, 2025, marking a significant breakthrough in the field of brain-machine interfaces for dementia clinical applications [1] - The successful completion of a clinical trial for "precise boundary localization of deep brain tumors based on implanted microelectrode arrays" represents the first application of brain-machine interfaces in this context globally, indicating a major advancement in domestic technology [1] - The Chinese government has issued a national-level policy aimed at promoting the innovation and development of the brain-machine interface industry, marking its entry into a key strategic area [2] Group 2: Market Potential - The brain-machine interface sector is expected to see substantial market demand and investment opportunities, particularly in the medical health field, which is identified as the largest application segment [2] - The global brain-machine interface market is projected to grow from $2.62 billion in 2024 to $2.94 billion in 2025, indicating significant potential for future applications and market expansion [3] Group 3: Regulatory and Financial Aspects - The National Medical Products Administration has established standards for brain-machine interface medical devices, and supportive policies for product registration and insurance payments are being implemented [2][3] - The introduction of pricing projects for invasive and non-invasive brain-machine interface procedures by the Medical Insurance Bureau marks a significant step in the financial support for this technology [3] Group 4: Related Companies - Microneuroscience (02172) has achieved a significant market share in China's neuro-interventional medical device market, ranking fourth based on 2023 sales revenue [4] - Heartway Medical-B (06609) successfully completed animal trials for China's first interventional brain-machine interface, with expectations of achieving a net profit of at least 40 million RMB by June 30, 2025 [4] - Nanjing Panda Electronics (00553) is actively developing a multimodal human-machine interaction system based on brain-machine interface technology as part of a key provincial research project [4]

智通财经获悉，据央视新闻报道，为支持药品和医疗器械创新发展，国家医保局制定新上市药品首发价 格机制，新增了100多项与医疗新技术相关的价格项目。其中，报道特别强调了对脑机接口技术进入临 床并收费的支持情况：神经系统类立项指南统一设立"脑机接口置入费""脑机接口适配费"等价格项目， 脑机接口技术成熟获批进入临床后，可快速进入临床应用并收费。 3月12日，国家医保局印发《神经系统类医疗服务价格项目立项指南(试行)》，其中专门为脑机接口新 技术单独立项，设立了"侵入式脑机接口置入费""侵入式脑机接口取出费""非侵入式脑机接口适配费"等 价格项目。 3月以来，湖北、浙江、江苏三省已纷纷公示脑机接口相关医疗服务价格项目：江苏省医疗保障局拟定 江苏省脑机接口相关医疗服务价格项目，非侵入式脑机接口适配费为966元/次，侵入式脑机接口置入费 为6600元/次，侵入式脑机接口取出费为3200元/次。浙江省医保局出台《关于公布脑机接口相关医疗服 务价格项目的通知》，其中侵入式脑机接口置入费6580元/次，侵入式脑机接口取出费3150元/次，非侵 入式脑机接口适配费966元/次。湖北省医保局发布脑机接口医疗服务价格，侵入式脑机接口 ...

Group 1 - The National Healthcare Security Administration (NHSA) has established a pricing mechanism for newly launched drugs and medical devices, including over 100 price items related to new medical technologies, particularly supporting the clinical application and pricing of brain-computer interface (BCI) technology [1][2] - The NHSA issued the "Guidelines for the Pricing of Neurological Medical Services (Trial)" on March 12, which specifically includes pricing items for BCI technologies such as "invasive BCI implantation fee," "invasive BCI removal fee," and "non-invasive BCI adaptation fee" [1][2] - The pricing standardization for BCI projects provides clarity for companies on how to charge, which is expected to facilitate the implementation of new technologies in medical institutions [3] Group 2 - Provinces such as Hubei, Zhejiang, and Jiangsu have announced BCI-related medical service pricing, with fees for non-invasive BCI adaptation set at 966 yuan per session, invasive BCI implantation at 6,600 yuan per session, and invasive BCI removal at 3,200 yuan per session in Jiangsu [2] - The global market for BCI medical applications is projected to reach $40 billion by 2030 and $145 billion by 2040, indicating significant growth potential in the downstream application market [3] - Companies like MicroPort NeuroScience and Heartway Medical are actively involved in the BCI sector, with MicroPort holding a significant market share in China's neuro-interventional medical device market and Heartway recently completing animal trials for an invasive BCI [4]

A股市场热点不断，近期，"脑机接口"概念火了。 21世纪经济报道记者注意到，在上周大涨之后，6月23日，脑机接口板块继续上扬，塞力医疗 （603716）（603716.SH）"10CM"涨停，三博脑科（301293）（301293.SZ）涨幅超5%，佳禾智能 （300793）（300793.SZ）、麒盛科技（603610）（603610.SH）涨幅3%以上、诚益通（300430） （300430.SZ）、狄耐克（300884）（300884.SZ）、乐普医疗（300003）（300003.SZ）、熵基科技 （301330）（301330.SZ）涨幅2%以上。 与此同时，投资者涌向上市公司互动平台，密集询问公司脑机接口相关布局。从机构调研的角度看，近 两个月已有不少机构提前嗅到了相关机遇，了解脑机接口相关业务。 就脑机接口的产业链机遇而言，浙商证券（601878）指出，产业应用上，该市场仍以医疗为主。未来在 教育、游戏、智能家居等领域的应用占比将逐步提升。软件层面，人工智能技术的高速发展将为脑机接 口带来更多的创新机会；硬件层面，更高精度的传感器正在被开发，设备越来越轻便、便携，侵入性与 人体的兼容性正在持续改 ...

Group 1 - Nanjing Panda Electronics saw a significant surge, with its stock price increasing by 56.25% at one point, ultimately closing at 5.30 HKD per share, a rise of 38.02% [11][15] - Other companies in the brain-computer interface sector also experienced gains, with Brainhole Technology rising by 22.65% and Micron Brain Science increasing by 18.47% [14][15] - The global brain-computer interface market is projected to reach 3.3 billion USD by 2027, with a compound annual growth rate of approximately 13.5% [16] Group 2 - Chow Tai Fook's stock dropped by 7.29% after announcing plans to issue 8.8 billion HKD in convertible bonds, raising concerns about equity dilution [4][22] - The issuance is intended to fund the development of gold jewelry business, store upgrades, and general working capital [21][22] - The Hong Kong gold and jewelry sector index fell by 6.69%, with other companies like King Fook Group and Lao Pu Gold also experiencing declines [24]

Core Viewpoint - Nanjing Panda Electronics saw a significant surge of over 56%, leading the brain-computer interface concept stocks to rise against the market trend [12][13]. Group 1: Market Performance - On June 17, Hong Kong's three major stock indices fell, with the Hang Seng Index down 0.34%, the Hang Seng Tech Index down 0.15%, and the Hang Seng China Enterprises Index down 0.4% [1]. - The total market turnover for the day was HKD 202.1 billion, a decrease from the previous trading day [1]. - Southbound capital net purchases amounted to HKD 6.302 billion [1]. Group 2: Stock Movements - Major declines were observed in blue-chip stocks, with Chow Tai Fook down 7.29%, CSPC Pharmaceutical down 6.40%, and China Biologic Products down 5.30% [3][4]. - The healthcare sector saw significant drops, with the healthcare index down 4% and several pharmaceutical stocks like Health Road down 25.70% and Green Leaf Pharmaceutical down 11.08% [6][9]. Group 3: Brain-Computer Interface Sector - Nanjing Panda Electronics experienced a peak increase of 56.25%, closing at HKD 5.30 per share, a rise of 38.02% for the day [13][17]. - Other companies in the brain-computer interface sector also saw gains, with Brainhole Technology up 22.65% and Micron Brain Science up 18.47% [16][17]. - The global brain-computer interface market is projected to reach USD 3.3 billion by 2027, with a compound annual growth rate of approximately 13.5% [18]. Group 4: Chow Tai Fook's Bond Issuance - Chow Tai Fook announced plans to issue HKD 8.8 billion convertible bonds at a 26% premium, raising concerns about equity dilution, leading to a significant drop in its stock price [20][23]. - The net proceeds from the bond issuance are expected to be approximately HKD 8.715 billion, aimed at developing gold jewelry business and upgrading stores [26].