The turning point in the medical devices sector has arrived. The S&P Biotechnology ETF Jiashi rose by 2.52%.

As of March 26, 10:04 AM, the Shanghai Composite Index is down 0.13%, the Shenzhen Component Index is up 0.22%, and the ChiNext Index is up 0.52%. In terms of ETFs, the S&P Biotechnology ETF by Harvest (159502) is up 2.52%.

On the news front, Citic Construction Investment’s research report indicates that the medical device sector has reached an inflection point, with individual stocks expected to have opportunities for performance and valuation recovery in 2026. This week, the brain-computer interface sector has seen some pullback after last week’s gains; it is recommended to increase allocation to the medical device sector in 2026. In the short term, it is suggested to seize the performance and valuation recovery opportunities of individual stocks with improving performance in 2026. Several leading companies in various subsectors of the medical device industry are expected to experience accelerated growth in 2026, and attention is also recommended for new technology directions such as surgical robots and brain-computer interfaces. In the long term, investment opportunities in the medical device industry stem from innovation, international expansion, and mergers and acquisitions, with the sector’s innovation and internationalization capabilities being recognized and valuations being reconstructed.

Guohai Securities believes that the logic of innovative drugs and devices has not changed, and the innovation capabilities of domestic companies are gradually strengthening. Considering the above factors, we maintain a “recommended” rating for the pharmaceutical and biotechnology industry.

Dongfang Caifu Securities states that this week the brain-computer interface has reached a registration milestone and policy clarification. The National Medical Products Administration has approved the registration of the innovative product “Implantable Brain-Computer Interface Hand Movement Compensation System (NEO)” by BrainCo, marking the entry of the world’s first invasive brain-computer interface medical device into the clinical application phase. BrainCo’s NEO product utilizes minimally invasive implantation with wireless power supply and communication technology, and clinical trial results show a significant improvement in subjects’ hand grasping abilities. Jiangsu Province has released the “Jiangsu Province Brain-Computer Interface Industry Innovation Development Action Plan,” which promotes the aggregated development of the brain-computer interface industry across the entire chain from upstream technology to downstream applications. Meanwhile, Ladder Medical recently announced the completion of 500 million yuan in strategic financing. Following last year’s successful completion of three clinical trials for brain-computer interfaces, Ladder Medical’s clinical progress continues to accelerate, having successfully completed the clinical implantation of the proposed registration for the 256-channel wireless high-throughput invasive brain-computer interface system (WRS02) by early 2026, along with effective verification of brain-controlled interaction functionality. The global R&D progress in the brain-computer interface field is accelerating, the commercialization process is speeding up, and there is a multi-point resonance in technological iteration, clinical progress, and policy issuance. It is recommended to focus on laying out technologies and products related to brain-computer interfaces and innovative targets with strong commercial transformation capabilities.