Analysis of the Strong Performance of Gangtong Medical (301515): Driven by Brain-Computer Interface Concept but Under Fundamental Pressure

This analysis is based on public market information and reports[1][2][3], focusing on the strong daily limit performance of Gangtong Medical (301515) on January 8, 2026. The stock closed at the daily limit price of RMB 25.48, with an increase of 20.02%, and a turnover of approximately RMB 238 million, entering the day’s strong stock pool. From December 31 to January 8, the stock recorded a cumulative increase of about 27%, attracting widespread market attention[5].

The brain-computer interface concept is the core driver for Gangtong Medical becoming a hot stock. The company clearly stated that its products have definite application value in supporting the basic environment for brain-computer interface surgeries[1][2]. This concept emerged as one of the most watched emerging concept sectors in the A-share market in January 2026.

From the perspective of external drivers, Elon Musk recently announced that Neuralink will start large-scale production of brain-computer interface devices in 2026[3][4], a news that significantly boosted market attention on the brain-computer interface industry chain. Meanwhile, in July 2025, seven ministries including the Ministry of Industry and Information Technology jointly issued the “Implementation Opinions on Promoting the Innovative Development of the Brain-Computer Interface Industry”, clarifying the development goals of technological breakthroughs by 2027 and international leadership by 2030, providing clear policy guidance for the industry’s development[3]. In addition, regions such as Hubei, Zhejiang, and Sichuan have established price items such as “invasive brain-computer interface implantation fees”, indicating that brain-computer interface medical services have entered the stage of being covered by medical insurance[3]. The approximately RMB 200 million financing completed by BrainCo set the world’s second-largest single financing record, demonstrating strong confidence from the capital market in this track[3].

The company’s 2025 restricted stock incentive plan and share repurchase program have conveyed the management’s confidence in the company’s long-term development to the market. The company has completed a repurchase of RMB 53.04 million, demonstrating the management’s recognition of the company’s value[1]. Equity incentives help stabilize the core team and improve corporate governance, a measure regarded as a positive factor by investors in the current market environment.

In its response to investor inquiries on January 6, 2026, the company clearly stated that its focused businesses of medical gas equipment and systems, as well as medical clean equipment and systems, are important components of smart hospital construction. The company is continuously following the development of AI healthcare and striving to enhance the intelligence level of its products[1][2]. This statement enabled the company to successfully ride on the sustainable hot concept of smart healthcare.

The company’s contract liabilities increased by 47% to RMB 206 million[1]; the growth in advance payments reflects an improvement in the company’s backlog of orders, providing a certain guarantee for future revenue recognition, which is also one of the factors supporting market confidence.

From the trading volume data, Gangtong Medical showed a significant volume expansion in January 2026. On the day of the daily limit on January 8, the turnover reached RMB 238 million, several times higher than that in the previous days, indicating active capital participation in the stock’s daily limit movement[1]. However, capital flow data shows some divergence: on January 7, the main capital recorded a net outflow of RMB 12.0955 million, while hot money and retail capital recorded net inflows of RMB 9.2992 million and RMB 2.7962 million respectively[2]. This difference in capital structure means that the daily limit on January 8 was likely driven more by hot money and retail capital rather than continuous inflows from institutional capital. In addition, the turnover rate on January 7 reached 8.43%, with the margin trading balance standing at RMB 44.0442 million, and the margin purchase amount on that day was RMB 10.948 million[2], reflecting the active participation of leveraged capital in this stock.

From a fundamental perspective, Gangtong Medical’s financial situation is not optimistic. According to public financial data[2], the company achieved operating revenue of RMB 344 million in the first three quarters of 2025, a year-on-year decrease of 30.06%; its net profit attributable to shareholders was -RMB 10.2084 million, a year-on-year decrease of 150.92%; and its non-recurring net profit was -RMB 12.8652 million, a year-on-year decrease of 176.82%. The company is currently in a loss-making state, with a significant decline in revenue, leading to an obvious divergence between fundamentals and short-term stock performance.

Notably, the company’s single-quarter main business revenue in Q3 2025 was RMB 79.1164 million, a year-on-year increase of 42.81%[2], showing signs of business recovery. Whether this improvement trend can continue in Q4 2025 and 2026 is a key observation point for judging whether the company’s fundamentals have truly bottomed out.

The company’s current total market value of approximately RMB 2.5 billion and free float market value of approximately RMB 1.6 billion are obviously overvalued compared to its loss-making performance and declining revenue. This rally is mainly driven by concepts rather than fundamental improvement, which is a risk factor that investors need to be alert to.

From a technical pattern perspective, Gangtong Medical showed a typical breakout trend in January 2026. After a 14% surge on January 5, it broke through the previous consolidation platform, and the 20% daily limit on January 8 confirmed the validity of the breakout[5]. Rising from RMB 20.06 on December 31 to RMB 25.48 on January 8, the stock recorded a cumulative increase of about 27% in four trading days[5], representing a considerable short-term gain.

The current resistance level is at RMB 25.48 (the daily limit price on January 8 and the historical high area), and the strong resistance level is in the RMB 26-28 range (the upper edge of the previous consolidation platform). For support levels, the RMB 22-23 range is the intensive trading area on January 6-7, and the strong support is at the integer level of RMB 20 (the lower edge of the previous consolidation platform)[5].

From the perspective of overbought/oversold indicators, the stock price may have entered the overbought area in the short term, facing technical correction pressure. Meanwhile, after breaking through the upper band of the Bollinger Bands, the stock price may pull back for confirmation; investors need to pay attention to the subsequent trend’s verification of the breakout pattern.

: The company is currently in a loss-making state with a sharp revenue decline, yet its short-term stock price gain far outstrips the pace of fundamental improvement, carrying the risk of “theme hype + unexpected negative performance disclosure”[2].

: The company clearly stated that its products play a “basic environment support” role in the brain-computer interface field, rather than being a core technology or equipment supplier for brain-computer interfaces; the extent of substantive business benefits is questionable[1][2].

: As a ChiNext stock, Gangtong Medical has a 20% price limit for daily gains and losses. It dropped nearly 4% on January 7 and then hit the daily limit the next day, showing sharp volatility, making it unsuitable for investors with low risk tolerance[2].

: If the brain-computer interface concept cools down, the stock may face significant correction pressure.

: China’s brain-computer interface market size reached approximately RMB 3.8 billion in 2025, with an annual growth rate of nearly 20%; the global market size was approximately USD 2.8 billion in 2025 and is expected to exceed USD 6.5 billion by 2030[3]. If the company can effectively seize this industrial development opportunity, there is potential for valuation re-rating in the long run.

: If the improvement trend of 42.81% year-on-year revenue growth in the third quarter can be sustained, it may provide substantive support for the company’s fundamentals.

From a short-term perspective, whether Gangtong Medical’s strong performance can continue mainly depends on the following factors: first, the overall trend of the brain-computer interface concept sector; a continuously strong sector will provide a favorable market environment for the stock; second, whether the subsequent trading volume can continue to expand, which is a key signal for the continuation of strength; third, whether the company has substantive positive news or order implementations. It is expected that the stock has a relatively high probability (about 40%) of fluctuating at a high level in the short term, with a roughly 35% probability of continuing to rise and a 25% probability of correcting.

From a medium-term perspective, the sustainability of the stock’s strong performance is weak. The main reasons include: the company is still in a loss-making state, making it difficult for fundamentals to support sustained stock price growth; the company’s substantive business benefits in the brain-computer interface field are limited, and it is not a core target; there is a demand for profit-taking from the short-term accumulated profit-making positions. Investors need to be alert to the correction risk after the concept fades.

The strong performance of Gangtong Medical (301515) is mainly driven by the surging popularity of the brain-computer interface concept, supplemented by positive factors such as equity incentives and growth in contract liabilities. The company’s products play a role in supporting the basic environment for brain-computer interface surgeries and have a certain business layout in the field of smart hospital construction, but the extent of substantive business benefits is limited. The company’s current financial situation is under pressure: it recorded a loss of over RMB 10 million in the first three quarters of 2025, with revenue falling over 30% year-on-year, leading to an obvious divergence between fundamentals and stock price rally. From the capital perspective, the stock has seen a large short-term gain (about 27% in four trading days) with sharp volatility, driven mainly by hot money and retail capital; its sustainability remains to be seen. Investors should closely monitor changes in sentiment in the brain-computer interface sector, the company’s fundamental improvement, and the 2025 annual report performance.

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[0] Jinling Analysis Database (comprehensive analysis based on public market data)

[1] Sina Finance - Analysis of Gangtong Medical’s Daily Limit on January 8, 2026: Equity Incentives + Smart Healthcare + Brain-Computer Interface

[2] NetEase Finance - Gangtong Medical (301515): Main Capital Net Sold RMB 12.0955 Million on January 7

[3] Securities Times - Policy and Technology Dual-Driven, Brain-Computer Interface Concept Stocks Hit Daily Limit

[4] Cailianshe - Institutions Conduct Intensive Research on Brain-Computer Interface Concept Stocks

[5] Sohu Securities - Stock News on Gangtong Medical (301515)

[6] Sina Finance - Gangtong Medical’s Company Announcements and Shareholder Information