来源：21世纪经济报道 作者：易妍君 编者按： A股"火热"开年 2026年A股首个交易日三大股指悉数上涨，上证指数重返4000点之上，日线更是迎来罕见的12连阳。市场热点轮番活跃，脑机接口、保险、存 储器等题材涨幅明显。与此同时，公募机构普遍对2026年A股市场持乐观态度，认为市场核心驱动力将从2025年的"估值修复"逐步过渡至2026 年的"盈利驱动"，整体有望呈现震荡上行、中枢抬升的格局。 2026年，A股旗开得胜，三大股指在首个交易日（即1月5日）悉数上涨。 这一天，上证指数重返4000点之上，日线更是迎来罕见的12连阳，为"春季躁动"预期下的A股市场再添"一把火"。 市场热点轮番活跃，脑机接口、保险、存储器等题材相对强势；CRO、模拟芯片、基因检测、虚拟人等概念也有不错的表现。 展望后市，前海开源基金首席经济学家、基金经理杨德龙判断，2026年科技牛行情有望延续。 亦有受访人士向21世纪经济报道记者指出，A股接下来的表现将紧密围绕几个核心变量展开，如宏观稳增长政策的具体力度、美联储货币政策 的实际节奏等。 对于2026年的投资，机构倾向于在科技成长、先进制造、顺周期与消费等方向挖掘机会。 多因素助推 ...

步入2026年，随着宏观经济周期的可能转向、科技革命深化、地缘政治格局演变及监管环境持续优 化，并购活动有望迎来更具结构性的增长机遇。 政策持续优化 在"十五五"规划关于并购重组的政策表述中，对上市公司并购重组的定位更为积极，其中提出要持 续深化并购重组市场改革，支持上市公司转型升级、做优做强，以服务新质生产力发展与培育世界一流 企业。 并且强调，进一步提升制度的包容性与适配度，健全与并购相关的科创企业识别筛选、资产定价等 机制，完善市场生态，促进并购与产业整合的市场化、法治化开展。有市场相关人士表示，2026年政策 环境有望持续优化。 自2024年新"国九条"定调后，"并购六条"（即《关于深化上市公司并购重组市场改革的意见》）及 新版《上市公司重大资产重组管理办法》在2025年相继落地，形成了一套鼓励产业并购、提升市场效率 的"政策组合拳"。 2025年，中国并购市场在数量和规模上均实现了显著增长。 Wind数据显示，年内A股公司披露的并购重组事件总计达4044单，其中构成重大资产重组的项目有 147单，同比激增44.12%；且2025年全年重大资产重组上会次数为29次，涉及28家公司，值得注意的 是，这一 ...

Core Viewpoint - China is undergoing a "scene revolution" aimed at driving growth, reform, and governance optimization through the large-scale application of new technologies and products, as outlined in the recently approved "Implementation Opinions" by the State Council [2][3][4]. Group 1: Background and Current State - China has a solid foundation for advancing the scene revolution, with adequate scene resources, institutional environment, infrastructure, and construction experience [3][6]. - The country faces challenges such as an inadequate revenue mechanism, fragmented resources, administrative and market barriers, and a lack of transformation service systems that hinder scene cultivation and openness [3][9]. Group 2: Strategic Importance - The "14th Five-Year Plan" emphasized innovation as central to modernization, but many technological achievements remain in the pilot stage, necessitating the application of these technologies in real, scalable scenes [4][5]. - The scene revolution is crucial for transforming new demands into economic vitality and restoring market confidence by facilitating the supply-demand cycle [5][10]. Group 3: Policy Framework - The "Implementation Opinions" marks a significant national-level policy initiative to systematically deploy tasks related to scene cultivation and openness, identifying five major market areas and 22 key scenes [10][11]. - The focus is on creating new application scenes in emerging fields, upgrading traditional industries, and addressing urgent needs in various sectors such as emergency management and social governance [11][12][13][14]. Group 4: Infrastructure and Technological Support - China has made significant advancements in new infrastructure, including 5G networks and data centers, which support the widespread application of technologies like big data and artificial intelligence [7]. - The establishment of over 470,500 5G base stations and extensive fiber optic networks has positioned China as a leader in global network infrastructure [7]. Group 5: Industry and Market Opportunities - The scene revolution is expected to unlock a trillion-level market by fostering new business models and enhancing the integration of technology across various sectors [10][15]. - The healthcare sector is projected to see substantial growth, with the smart healthcare market expected to exceed 270 billion yuan by 2030, driven by digital transformation [15]. Group 6: Collaborative Ecosystem - A collaborative ecosystem involving central and local governments, state-owned enterprises, and private companies is essential for nurturing scene-driven innovation [16][19]. - The emphasis is on creating a supportive environment for all stakeholders to participate in scene cultivation and innovation, ensuring equitable access to resources and opportunities [17][18].

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。 投资者提问：尊敬的董秘您好！据悉公司被列入"中国数谷"数据要素"改革沙盒"第二批试点企业，可在 监管沙盒内合规开展数据要素流通与增值应用。公司手握近500家医院的合规脱敏大数据，并在"慧康- 启真"大模型上已把AI辅助诊断的准确率提升42%。请问：1.这些高质量数据是否已向互联网医疗平台 开放接口？2.后续有无计划与蚂蚁"阿福"等具备亿级C端流量的互联网生态合作，联合推出AI导诊/慢病 管理产品，以快速 创业慧康回复：尊敬的投资者，您好！感谢您的关注。公司作为"中国数谷"数据要素改革试点企业，始 终将数据合规与安全置于首位，业务开展严格遵循"数据可用不可见"及"原始数据不出域"原则，通过大 模型及数据可信空间提供AI辅助与增值服务，不涉及向第三方直接开放原始数据接口。在生态合作方 面，公司秉持开放共赢理念，对与包括具备流量优势的互联网平台在内的各类伙伴合作持积极态度，致 力于共同赋能医疗机构以更好地服务C端患者；如有达到披露标准的重大合作进展，公司将严格履行信 披义务，请以指定媒体公告 ...

济南市人 中新网济南12月23日电 (记者 孙婷婷)"在二级以上医院，智能导诊、智能问诊等服务已普遍应用，有效 缩短候诊时间。为支撑医疗AI的规模化、集约化发展，济南构建了统一的算力平台，为13家医疗机构 提供算力服务，累计调用超30亿次，有效降低了医疗机构单独部署的成本与负担。"23日，在济南市人 民政府新闻办公室召开的新闻发布会上，济南市卫生健康委党组副书记、副主任胡博通报了该市深化人 工智能应用、提升诊疗服务效能的成果。其中，AI辅助诊断在影像、病理等领域为医生提供精准决策 支持，特别是系统部署至基层医疗卫生机构以来，累计提供辅助诊断4000余万次，电子病历规范率达 89.9%，显著增强了基层首诊能力与服务水准。 利用数字技术破解民众"看病难、排队久、流程繁"等问题，是济南市深化医改、推进健康济南建设的重 要路径。"十四五"以来，该市抢抓"数字济南"建设机遇，实施智慧健康优化提升工程，建成"互联网+医 疗健康"示范市，以数字化、智能化全面重塑卫生健康服务流程，让民众就医更便捷、更高效，民众就 医体验显著改善。 胡博介绍说，济南在全省率先建成覆盖全市的"区域影像云平台"，建立统一"云胶片库"，支撑检查结果 ...

Onalysys 易观分析 2025年AI精准医疗市场专题分析 易观分析 2025年12月 本产品保密并受到版权法保护 Confidential and Protected by Copyright Laws Onalysys 易观分析 01 演进过程 AI精准医疗演进：从科研成果走向临床应用的平台转化 Omalysys 易观分析 国际：AI辅助诊断进入临 中国：统一数据标准，推 技术规范完善 床实践，个体化医疗入保 动科研成果向临床转化 2017-2019年 精准医疗战略提出 中国：基层整改，靶向药 2004-2016年 国际：各国提出基准医疗 基因科技起点 入保，医疗体制改革 1960-2003年 计划，聚焦科研积累，强 国际：精准医疗从科研向 调基因数据库的建设 国际：人类基因组完成 临床探索过度 05 中国：注重战略实施，政 中国：起步晚，实验技术 中国：自主研发起步，聚 策推进，平台搭建 薄弱，依赖国外科技 焦研究。借助国家科技计 04 划加快布局生命科学，相 关企业兴起 03 02 01 2025-12-8 激发科技与创新活力 3 精准医疗是融合基因检测、大数据与生物信息技术，通过识别疾病靶 点， ...

Core Insights - The consensus in the medical industry is that AI will not replace doctors but will serve as an essential assistant, supported by a strong regulatory framework [2] - The AI medical sector is transitioning from conceptual hype to substantial development driven by policies and market forces, with a projected industry scale of 115.7 billion yuan by 2025 [3][4] - The integration of AI into various medical applications is deepening, with significant advancements in areas such as imaging analysis and drug development [4][10] Industry Growth and Projections - The AI medical industry in China is expected to reach 115.7 billion yuan by 2025, with a compound annual growth rate of 10.5% from 2022 to 2028 [3] - By 2028, the industry scale is projected to increase to 159.8 billion yuan [3] Application Maturity and Areas of Focus - AI applications have expanded from diagnostic tools to encompass drug development, decision support, and medical robotics, with imaging analysis being the most mature area [4][10] - AI in medical imaging is projected to exceed 15 billion yuan by 2025, with a significant increase to 23.57 billion yuan by 2026 [10] Data Infrastructure and Challenges - As of July 2025, 206 algorithmic medical products have been registered, with 160 companies providing AI services directly to patients through apps [6] - The quality and standardization of medical data remain significant challenges, with a large volume of data being poorly structured and difficult to utilize effectively [21][22] Payment and Commercialization Issues - The integration of AI into the payment system is still developing, with current regulations preventing additional charges for AI-assisted diagnoses [23] - The recognition of AI's clinical value is crucial for its inclusion in payment systems, with a focus on demonstrating its effectiveness in improving patient outcomes [23][24] Future Directions and Sustainable Development - The AI medical sector is exploring diverse commercialization paths, with a focus on creating clear clinical value to ensure sustainability [27][30] - The concept of "inclusive healthcare" is emerging as a key focus, aiming to balance service quality, accessibility, and cost [30]

"县域远程医学影像诊断服务量今年已超过6800万人次。"在11月27日国家卫生健康委举行的新闻发布会 上，国家卫生健康委基层司司长焦雅辉表示，在"人工智能+"的赋能下，目前80%的县（市、区）初步 建成了县域影像、心电、检验资源共享中心，实现基层检查、区县诊断；远程医疗、互联网医疗、移动 巡诊医疗车等还助力山区、海岛、边远贫困等地方的"空白"得以弥补。 数据显示，全国超过90%的居民能在15分钟内获得就近就便医疗卫生服务，2024年县域内基层医疗卫生 机构诊疗人次占全国诊疗量的63.4%，比上一年提高0.5个百分点，越来越多农村群众看病就医优先选择 基层医疗卫生机构。 为进一步解决农村地区的卫生健康重点和难点问题，2021年起，全国遴选12个县开展基层卫生健康综合 试验区的建设，由县委成立卫生健康工委，一位政府领导统管医疗、医保、医药。"最近我们完成了效 果评价，12个综合试验区基层医疗卫生机构的诊疗量占比2024年达到了69.1%，高于全国平均水 平。"焦雅辉介绍，目前省一级遴选建设186个综合试验区，梯次推进国家综合试验区经验。 以广西为例，在支持上思县国家综合试验区建设的同时，支持全区14个区市各建设一 ...

"县域远程医学影像诊断服务量今年已超过6800万人次。"在27日国家卫生健康委举行的新闻发布会上， 国家卫生健康委基层司司长焦雅辉表示，在"人工智能+"的赋能下，目前80%的县(市、区)初步建成了县 域影像、心电、检验资源共享中心，实现基层检查、区县诊断；远程医疗、互联网医疗、移动巡诊医疗 车等还助力山区、海岛、边远贫困等地方的"空白"得以弥补。 数据显示，全国超过90%的居民能在15分钟内获得就近就便医疗卫生服务，2024年县域内基层医疗卫生 机构诊疗人次占全国诊疗量的63.4%，比上一年提高0.5个百分点，越来越多农村群众看病就医优先选择 基层医疗卫生机构。 焦雅辉表示，在重点专科建设和人工智能的赋能下，一些以往在县级医院比较薄弱的专科，如肿瘤科、 精神科、眼科等，设置率和服务能力均有很大程度提高。 (责任编辑：张紫祎) 为进一步解决农村地区的卫生健康重点和难点问题，2021年起，全国遴选12个县开展基层卫生健康综合 试验区的建设，由县委成立卫生健康工委，一位政府领导统管医疗、医保、医药。"最近我们完成了效 果评价，2024年12个综合试验区基层医疗卫生机构的诊疗量占比达到了69.1%，高于全国平均水 平 ...

Core Insights - The volume of remote medical imaging diagnostic services in county areas has exceeded 68 million this year, supported by the integration of "artificial intelligence+" in healthcare [1] - Over 80% of counties (cities, districts) have established resource-sharing centers for imaging, electrocardiograms, and laboratory tests, enhancing access to healthcare in remote areas [1] - More than 90% of residents can access nearby medical services within 15 minutes, with the proportion of diagnostic visits from grassroots medical institutions expected to reach 63.4% of the national total in 2024, an increase of 0.5 percentage points from the previous year [1] Group 1 - Since 2021, 12 counties have been selected to develop comprehensive pilot zones for grassroots health, with a government leader overseeing medical, insurance, and pharmaceutical sectors [1] - The evaluation of these pilot zones indicates that by 2024, the diagnostic volume from grassroots health institutions in these areas will account for 69.1%, surpassing the national average [1] Group 2 - In Guangxi, while supporting the construction of the national comprehensive pilot zone in Suqian County, the region is also establishing one autonomous regional-level grassroots health comprehensive pilot zone in each of the 14 districts and cities [2] - The Guangxi Health Commission is implementing AI-assisted diagnosis and chronic disease management, with a goal for over 50% of grassroots institutions to deploy these systems by 2026 [2] - The integration of AI in healthcare is expected to significantly improve the identification accuracy of common diseases and support early screening for local diseases such as nasopharyngeal carcinoma and thalassemia [2]