（原标题：AI重构跨境新势能，琴澳组CP赋能中国品牌出海） 此外，跨境电商延伸了中国制造在海外的影响力，使其成为全球消费市场结构调整的重要引擎。在共 建"一带一路"倡议的支持下，电商通道、海外仓、采购基地迅速扩张，增强了中国商品和品牌的出口能 动性，也推动了文化传播方式的创新。 9月5日，在高品会开馆仪式暨中国（澳门）跨境电商展开幕仪式上，行业专家和企业代表共同围绕数字 新丝路、新兴市场拓展、物流履约、AI赋能等热点话题，分享对跨境电商产业发展得看法。 消费模式全面革新 正如南光物流有限公司董事长张清在会议上所说，如今传统贸易正逐步被跨境电商等新业态所替代，带 动了消费模式的深刻转变。 消费模式的变化也推动了资金结算方式的革新。跨境结算的突破为数字贸易的发展奠定了基础，提供了 必要的前提条件。如果没有这种金融和制度层面的配套创新，跨境电商和数字贸易都难以实现。可以 说，在新的国际贸易格局下，数字贸易正迎来难得的发展良机。 与此同时，AI快速发展，极大赋能数字贸易。"AI的本质，是帮助商家回归到生意的本质。"郑燕琴是深 圳市小满科技有限公司的COO，据其介绍，企业专注不同阶段外贸商家提供多样化解决方案，服务的 ...

国聚创投董事长杨曦表示：国聚创投作为广州高新区投资集团布局生物医药全产业链的核心投资平台， 始终围绕广州开发区"万亿级生物医药产业集群"目标，积极引入并培育能够贯通产业链上下游的优质企 业。水木医疗打造的医疗器械全生命周期一站式服务模式，将大力推动广州乃至大湾区医疗器械产业创 新发展、集聚发展、生态化发展。我们期待携手水木医疗，共同打造粤港澳大湾区医疗器械创新高地。 国生资本表示：水木医疗拥有专业的人才团队及成熟的质量管理体系，构筑了较高的竞争壁垒。本次水 木医疗作为医疗器械服务链主企业落地成都高新区，将填补成都医疗器械全流程专业服务平台的空白， 吸引更多优质企业落地，为成都构筑丰富的医疗器械企业网络，赋能成都医疗器械产业发展。 广州产投资本表示：生物医药与健康产业是广州市五大关键产业之一。水木医疗为国内领 先的生物医 药与大健康平台型企业，团队长期专注于有源医疗器械、大型放疗设备、医用机器人、AI医疗器械、 生物材料、IVD、医美、数字疗法等领域，此次水木医疗在广州落地，将有助于推动广州检验检测配套 和专业服务完善，进一步补强医疗器械研发的关键环节，助力广州完善高端医疗器械产业链并辐射粤港 澳大湾区，打造国 ...

Core Viewpoint - Artificial Intelligence (AI) is rapidly penetrating the medical device field, with over 1,200 AI/ML medical devices approved by the FDA as of July 2025, including a record 235 devices approved in 2024, indicating that AI is becoming a significant part of clinical practice [2][4]. Group 1: AI in Medical Imaging - Radiology remains the dominant application area for AI, focusing on tasks such as automatic image segmentation, lesion detection, and risk screening [4]. - The cardiovascular specialty is experiencing accelerated adoption of AI, expanding from ECG rhythm analysis to cardiac ultrasound and CT coronary imaging due to the high prevalence of cardiovascular diseases and the suitability of imaging data for AI training [5][6]. Group 2: AI in Neurology - In neurology, AI's initial entry point is acute stroke image recognition, with applications including arrhythmia detection and heart failure risk prediction [7][8]. - AI systems can automatically interpret CT/MRI scans within minutes, identifying potential ischemic or hemorrhagic lesions and notifying neurologists, thus shortening the "golden hour" for treatment [9]. - Neurology is emerging as a new growth area for FDA approvals due to high-risk, high-value disease scenarios, such as the urgent need for stroke decision-making and unmet needs in epilepsy and dementia [10]. Group 3: Emerging Specialties - Other specialties, including endoscopy and pathology, are also seeing rapid growth in AI medical devices, with applications in automatic identification of polyps and early tumors during gastrointestinal examinations [12]. - AI is enhancing efficiency in pathology by automating the identification and classification of digital pathology slides, allowing pathologists to quickly locate suspicious areas [12]. Group 4: Regulatory Challenges - As the number of FDA-approved AI medical devices surpasses 1,200, regulatory challenges are emerging, particularly in keeping pace with technological advancements [11]. - The focus of FDA regulation is shifting from merely approving the number of AI devices to balancing innovation with safety, necessitating a reevaluation of regulatory frameworks as AI evolves from a "tool" to a "partner" in healthcare [11][14].

盘面上，医疗器械、大金融、消费电子、液冷服务器等板块涨幅居前，国防军工、光伏设备、培养钻 石、水泥等板块跌幅居前。 AI医疗器械市场急速增长 医疗器械概念早间放量走强，板块指数盘初一度直线拉涨逾3%，创年内新高，半日成交接近昨日全天 成交。麦澜德触及20%涨停，股价创历史新高，三鑫医疗、迈普医学、山外山等涨幅居前。 自7月国家药监局发布《关于优化全生命周期监管支持高端医疗器械创新发展有关举措的公告》以来， 叠加第十一批集采明确"反内卷"。医疗器械板块就频频走强，一度走出连续9日上涨的行情，经过短期 调整之后，近期又开始连续上攻频创新高。 大金融板块早间集体爆发。 今日早盘，A股继续震荡上扬，上证指数、深证成指等均再创年内新高，北证50、中证1000等股指则微 幅飘绿。下跌个股远多于上涨个股，成交保持平稳。 农业银行连续6日创历史新高 大金融早间集体走强，银行、多元金融、保险、券商等板块指数盘中均出现放量拉升走势。九鼎投资 （600053）开盘一字涨停，连续第2日封板，股价创近1年半新高，国盛金控亦强势涨停，创年内新高， 翠微股份、南华期货等涨幅居前。 农业银行（601288）表现尤其亮眼，近11个交易日10日 ...

第二场：多元主体协同创新（7月25日）：本次会议汇聚了医疗机构、医药企业、投资机构和新闻媒体 等多元主体。国家医保局价格招采司宣布了三项突破性举措：统一新设医疗服务价格项目通道，推动高 水平科技成果加快临床应用；研究新上市药品首发价格机制，分类优化挂网服务；助力中国创新药械全 球化发展。值得关注的是，广州医科大学第一附属医院和上海华山医院分享了无管技术、脑机接口等前 沿技术的临床应用案例，展现了我国医学创新的突破性进展。 第三场：医保数据赋能研发（7月28日）：24家国家实验室、高校科研机构、医药企业和金融机构代表 聚焦"医保数据服务创新药研发和上市后真实世界研究"。会议达成共识，将建立规范的医保数据共享机 制，释放医保数据在赛道选择、效果评估、融资支持等环节的赋能价值。此举有望推动创新药研发 从"经验判断"向"数据驱动"转型，大幅提升研发效率。 第四场：破解研发痛点（7月29日）：中国工程院院士王广基、李松、徐兵河等专家与企业家代表深入 探讨了创新药研发现状与难点。医保局明确提出支持临床真疗效、患者真获益的"真创新"，鼓励企业拓 展创新宽度和深度，避免靶点过度集中的同质化竞争。医保数据将支持研发立项决策，提 ...

Group 1: Market Performance - The Hong Kong stock market saw all three major indices decline in the morning session, with the Hang Seng Tech Index dropping 1.57%, marking a five-day losing streak [1] - The Hang Seng Index and the Hang Seng China Enterprises Index both fell by 0.43% [1] - Internet healthcare stocks performed strongly, with Ping An Good Doctor surging 9% to reach a new high [1] Group 2: ETF Performance - The Hang Seng Medical ETF (513060) experienced significant fluctuations, rising over 3% during the session with a trading volume nearing 2.5 billion yuan and a turnover rate exceeding 30% [1] - Most constituent stocks within the ETF saw gains, including Ping An Good Doctor up over 11%, MicroPort Medical up over 8%, and several others with gains exceeding 4% [1] Group 3: Policy Developments - The National Healthcare Security Administration (NHSA) held four seminars in July 2025 to discuss a comprehensive policy support system for innovative drugs and medical devices [2][3] - The first seminar focused on establishing a scientific value evaluation system for innovative products, which is expected to enhance the efficiency of healthcare resource allocation [2] - Subsequent seminars addressed collaborative innovation among various stakeholders, the empowerment of research and development through healthcare data, and the identification of pain points in drug development [3] Group 4: Policy Implementation - Recent procurement policy optimizations by the NHSA have improved market access for innovative drugs and medical devices, allowing medical institutions to report quantities by brand and ensuring fair competition [4] - A new pricing mechanism for newly listed drugs has been established, allowing innovative drugs with breakthrough efficacy to secure reasonable premium pricing [4] Group 5: Industry Trends - The policy changes are reshaping the pharmaceutical industry's innovation logic, encouraging differentiation in innovation and directing capital towards unmet clinical needs [5] - The internationalization of Chinese innovative drugs is accelerating, with significant increases in licensing transactions and overseas revenue for companies like BeiGene and Innovent Biologics [5] - The ability to leverage healthcare data for post-market research is becoming a competitive advantage for companies [5] Group 6: High-End Medical Equipment - The government is supporting the development of high-end medical devices, setting a target for 70% of county-level hospitals to use domestically produced equipment by 2025 [6] - The new medical infrastructure is expected to drive over 200 billion yuan in equipment procurement demand [6] Group 7: Investment Opportunities - The Hang Seng Medical ETF (513060) is positioned to benefit from the policy dividends and industry upgrades, focusing on innovative drug and medical device companies [7] - The ETF's constituent companies are expected to experience significant growth as the government supports high-end medical equipment and innovative drug development [7][8]

Group 1: AI Application Sector - The recent rebound in AI application concept stocks is driven by the upcoming World Artificial Intelligence Conference in Shanghai, focusing on large model applications and new infrastructure for computing power, attracting significant capital [3] - Companies like Hanwang Technology and Insai Group have seen their stocks surge due to continuous technological breakthroughs and the implementation of scenarios, indicating a "policy + technology" dual-driven logic [3] - Caution is advised against chasing high prices, as the overall market is still in an adjustment phase, and investors should focus on companies with actual orders rather than those driven purely by concepts [3] Group 2: Medical Device Sector - Recent favorable policies, such as the optimization of lifecycle regulation to support high-end medical device innovation, have opened doors for medical robots and AI medical devices, signaling a boost for this sector [3] - Leading companies like Kangtai Medical and Zhengchuan Co. have experienced stock price surges, reflecting the acceleration of domestic substitution in high-end imaging equipment and artificial organs, which were previously reliant on imports [3] - The third quarter is expected to be a turning point for medical device performance, as orders from the first half of the year begin to convert into revenue, providing solid fundamental support for the current market trend [3] Group 3: Logistics Sector - The logistics sector has shown unusual activity due to the introduction of low-altitude economy policies, with new technologies like drone delivery and eVTOL gaining traction, exemplified by Shentong Express's collaboration with Cainiao to deploy 2,000 smart delivery devices [4] - The e-commerce logistics index reached a new high for the year in June, with rural business volume growth exceeding 30%, indicating an upward trend in order volume for express delivery companies as the summer consumption peak approaches [4] - However, the international shipping market remains in a low season, with SCFI freight rates declining for six consecutive weeks, suggesting that opportunities in the logistics sector are more concentrated in domestic policy-driven niches like smart delivery and rural e-commerce [4] Group 4: Market Trends and Strategies - The Shanghai Composite Index is experiencing a volume contraction, indicating that capital is still in a wait-and-see mode, while the North Certificate 50 index is rising, suggesting some funds are seeking safe havens [5] - AI and medical device sectors are seen as potential low-entry opportunities as long as policy expectations remain, particularly in medical devices where the easing of centralized procurement pressure combined with performance turning points may yield excess returns in the second half of the year [5] - The logistics sector should be closely monitored for the implementation progress of low-altitude economy policies, with leading companies like Shentong Express potentially boosting overall sector sentiment if they maintain their upward momentum [5]

Group 1 - The report from KPMG China highlights that the health technology industry faces challenges such as a shortage of professional talent, relatively low research investment, an incomplete payment system, and the need for differentiated market competition [1] - The report emphasizes that Chinese health technology companies can break through the competitive environment through a combination of scientific research innovation, business model transformation, international layout, and the creation of blockbuster products [1] - Recent trends in the Chinese health technology sector include the deep integration of AI technology and large models, which opens a new era of intelligent healthcare and enhances innovation vitality in the industry [1] Group 2 - KPMG China's audit partner in the healthcare and life sciences sector, Li Zhixian, states that AI large models empower the entire chain of the medical industry, covering various scenarios from health monitoring to chronic disease management and personalized treatment plans [2] - The integration of AI and robotics in the medical field is reshaping traditional medical software systems and creating innovative opportunities across a broader range of medical scenarios [2] Group 3 - High-tech medical devices such as AI medical devices, surgical robots, and smart pathology products are key to shaping new productive forces in the medical device sector [3] - The application of AI and robotics in healthcare has expanded from auxiliary diagnosis to treatment planning, telemedicine, and pathology diagnosis, driving the digital and intelligent transformation of the medical industry [3] Group 4 - The Deputy District Mayor of Dongcheng District, Deng Huimin, indicates that the district has a concentrated resource base in the pharmaceutical and health industry, covering drug research, production, distribution, sales, and medical services [4] - Dongcheng District aims to actively integrate into the Beijing International Science and Technology Innovation Center, focusing on building distinctive industrial clusters to foster innovation and talent development [4]

Group 1 - The article emphasizes the strategic significance of innovative drugs and suggests improving capital market support mechanisms and strengthening intellectual property protection [1] - The biopharmaceutical sector has experienced a significant recent pullback, primarily due to substantial gains in the innovative drug sector since the beginning of the year, leading some investors to take profits [1] - The National Medical Products Administration (NMPA) has proposed to shorten the clinical trial review and approval process for innovative drugs to 30 working days, further encouraging innovative drug development [1] Group 2 - The adjustment of the medical insurance catalog is about to begin, with the commercial health insurance innovative drug catalog being included in the adjustment system, necessitating attention to subsequent selection principles and support policies [1] - The NMPA has deployed measures to support the innovative development of high-end medical devices, introducing initiatives for areas such as medical robots, high-end imaging equipment, and AI medical devices, presenting new opportunities for high-end equipment [1] - The current price-to-earnings (PE) ratio for the biopharmaceutical sector is 27.21 times, which is at the historical median level, while the PE ratio for the bioproducts sub-sector reaches 32.85 times [1]

Group 1 - The establishment of the "Binhai Artificial Intelligence Medical Device Innovation Industry Alliance" aims to integrate innovative resources and promote deep integration of AI and medical device industries, creating a collaborative and open innovation ecosystem [1] - The "Binhai G3LAB High-end Medical Device Innovation Platform" has been launched to gather policy, capital, and industry chain resources, focusing on three cutting-edge areas: structural heart disease, neurointervention, and endoscopic treatment [1] - Experts highlight that AI medical device products are in the early stages of development, with a need for improved R&D innovation and regulatory capabilities, addressing challenges across the industry chain is a common challenge faced by the industry [1] Group 2 - The R&D cycle for high-end medical devices typically lasts 5-8 years, and the platform's support will alleviate financial pressures and regulatory challenges for innovative companies, particularly in the "AI + medical" integration technology [2] - The future development of AI medical devices requires collaboration among industry, academia, research, and medical sectors to integrate clinical needs with engineering innovation, establishing compliant and efficient data platforms to accelerate technology transfer and application [2] - AI is reshaping the paradigm of device R&D, enhancing innovation and redefining products, with companies leveraging AI to mine data, identify technological gaps, and develop innovative solutions that improve diagnostic accuracy [2] Group 3 - AI's application in cardiovascular diagnosis and treatment has gained attention, with significant advancements in recent years due to progress in data, algorithms, and computing power [3] - The focus of AI applications has primarily been on cardiovascular imaging and single-modal imaging research, while multi-modal imaging and generative AI represent the forefront of cardiovascular imaging research [3]