Analysis of the Strong Performance of Wizmed (688580) and Judgment on Its Sustainability

1. Driven by BCI Concept Outbreak
   : Neuralink under Tesla plans to start mass production of BCI devices in 2026, triggering global expectations for BCI technology commercialization [2][3]. Wizmed is positioned by the market as a leading enterprise in non-invasive BCI, and its existing neurorehabilitation business is highly related to BCI technology, thus benefiting from the concept market [1].
2. Sector Linkage Effect
   : On January 5, 2026, the A-share medical device sector rose more than 6% collectively driven by the BCI concept, with multiple concept stocks including Wizmed gaining a 20% limit-up [1][2][3].
3. Fundamental Support
   : According to the company’s announcement, the new headquarters “Wizmed Headquarters R&D Economic Park” has passed completion acceptance and plans to relocate in the first half of 2026, which will provide solid support for the company’s R&D and production [4].

• Technical Aspect
  : It achieved a 20% limit-up on January 5, 2026, with a turnover of 397.3 million yuan that day, a significant increase compared to the historical average [1]. As of that day, the P/E TTM was 44.16 and the P/B ratio was 3.36 [1].
• Fundamental Aspect
  : The company mainly engages in rehabilitation medicine products, covering pelvic floor, mental health, neurology and other fields. The launch of the new R&D park will support its high-quality development [4].

1. Link Between Concept and Business
   : Wizmed’s neurorehabilitation business has a natural fit with non-invasive BCI technology, which is the core logic for the market to include it in BCI concept stocks [1].
2. Shift in Sector Investment Logic
   : Institutions such as Guojin Securities pointed out that innovation (including technologies like BCI) has become the core investment logic for the medical device sector. This concept market reflects the market’s attention to the innovation prospects of the sector [3].
3. Market Sentiment Transmission
   : The number of discussions about Wizmed on platforms like Eastmoney Stock Bar has surged, and many posts link it to Neuralink, accelerating the spread of market sentiment [1].

1. Concept Speculation Risk
   : The current rise is mainly driven by the BCI concept, and the actual proportion of BCI business revenue in the company is unclear, so there is a suspicion of concept speculation [1].
2. Policy Risk
   : The medical device industry is still affected by policies such as centralized procurement, and may face price pressure in the future [1].
3. Technology and Commercialization Risk
   : BCI technology is still in the early stage, and large-scale commercialization faces multiple challenges such as technology and regulation [1].
4. Valuation Risk
   : Short-term rapid rise may lead to overvaluation, so callback risk needs to be alerted to [1].

1. BCI Technology Development
   : If BCI technology makes breakthrough progress, the company’s non-invasive BCI business may usher in development opportunities [1].
2. New R&D Park Effect
   : The launch of the new R&D park will enhance the company’s R&D and production capabilities, helping long-term development [4].

The recent strong performance of Wizmed (688580) is jointly driven by the BCI concept outbreak, sector linkage, and the company’s fundamental support. The technical aspect shows a significant increase in short-term price and trading volume, while fundamentals are supported by the new R&D park. Attention should be paid to BCI technology development, policy changes, and valuation levels to comprehensively judge the sustainability of its performance.