[Tianfeng Medical Yang Song Team] At Current Position, Recommend Focusing on Four Directions: Brain-Computer Interface, AI Medical, Medical Technology, Innovation Going Global, and Prosperity

English summary

1. Against the backdrop of high-level correction in the AI hardware sector and the market's rotation from high to low, we believe AI medical care and brain-computer interface (BCI) have allocation value. Core logic is as follows: 1. Valuation and capital resonance: Defensive attributes are prominent; sector valuation and institutional holdings are at historical lows. Medical AI and BCI are among the key vehicles for AI implementation. 2. Policy support and payment channels: At the top level, BCI and AI medical care have received national strategic support. On the commercialization front, AI-assisted diagnosis continues to be included in medical insurance. Shanghai, Zhejiang and other places have implemented special BCI charging items, and a medical insurance + commercial insurance model is expected to take shape. 3. Industry landscape upgrade: Software-hardware integration builds barriers. AI medical care upgrades from a single auxiliary tool to a medical intelligent agent deeply embedded in hospital systems; BCI promotes a medical-engineering combined model, with dedicated closed-loop wards in many places, significantly raising industry entry barriers. 2. Recent core catalysts: 1. Dense positive news for BCI: Overseas: #Neuralink's valuation rose to $42 billion, quadrupling in two years; ...