Summary of Xiangyu Medical Conference Call Industry and Company Overview - **Company**: Xiangyu Medical - **Industry**: Medical Technology and Rehabilitation Key Points and Arguments 1. **Core Technology and Market Position**: Xiangyu Medical has been developing brain-computer interface (BCI) technology for nearly a decade, mastering core technologies such as chips and EEG information collection, establishing a unique domestic advantage, and planning to export technology externally [2][3][4] 2. **Product Launch Timeline**: The company expects to launch approximately 24 new BCI rehabilitation products between June and September 2025, with registration certificates anticipated by the end of the year [2][4] 3. **Insurance Policy Support**: Relevant medical insurance charging standards have been established in regions like Hubei (966 RMB per session) and Zhejiang (960 RMB per session), which are expected to promote industry development [2][4][14] 4. **Order Procurement Trends**: There is a recovery trend in order procurement, with expectations for continued growth in the third quarter, as both large hospitals and grassroots medical institutions increase purchases [2][5][6] 5. **Application Areas**: Current BCI products are primarily used for rehabilitation training in neurodegenerative diseases and post-stroke recovery, with future plans to integrate with exoskeleton robots and balance training products [2][7] 6. **Non-invasive Signal Acquisition**: The company’s non-invasive signal acquisition devices utilize self-developed technology, featuring 2 to 512 channels, with industry-leading parameters in signal transmission rate, common-mode rejection ratio, and signal-to-noise ratio [2][10] 7. **AI Model Development**: Xiangyu Medical has launched the VTE intelligent prevention system, achieving a 99% accuracy rate in NLP multi-data analysis and a 45% reduction in missed diagnoses [3][25] 8. **Market Expansion Plans**: The company plans to leverage existing channels and partnerships with research institutions to promote BCI products and develop embedded projects like BCI treatment centers [3][12] 9. **Employee Incentives**: An employee stock ownership plan has been introduced to incentivize R&D and marketing personnel, with specific performance targets set for revenue and registration achievements [13] 10. **Future Product Development**: New BCI products are aimed at conditions such as stroke sequelae, spinal cord injuries, Parkinson's disease, depression, sleep disorders, and autism, with a comprehensive rehabilitation treatment system being developed [19][20] Additional Important Information 1. **Cost Advantages**: Xiangyu Medical has significant cost advantages due to self-developed core algorithms and hardware, allowing for lower pricing compared to foreign competitors [16][17] 2. **Regulatory Environment**: The company anticipates obtaining the BCI registration certificate by the end of December 2025, with a typical approval cycle of around six months [8] 3. **Consumer Market Plans**: Plans for consumer-oriented BCI devices include products for motion sickness, attention monitoring, and sleep assistance, with prototypes expected to be released this year [21] 4. **Exoskeleton Robot Integration**: The integration of BCI with exoskeleton robots is expected to yield prototypes this year, with certification anticipated in 2026 [22] 5. **Technological Maturity**: Key technologies include human-computer interaction, multi-sensor fusion, and autonomous navigation, which are already mature and being applied in various rehabilitation and elderly care scenarios [24] 6. **Future R&D and Marketing Strategy**: The company is increasing its R&D and marketing personnel to support its technology layout, with a focus on traditional channels and training for new product promotion [27][28]