Analysis of Cofoe Medical (301087)'s Strong Performance: Investment Value Assessment Driven by Brain-Computer Interface Catalyst

Cofoe Medical’s strong performance is closely tied to the favorable policies for the brain-computer interface (BCI) industry. On January 7, 2026, the Ministry of Industry and Information Technology (MIIT) and seven other ministries issued the Implementation Opinions on the “Artificial Intelligence + Manufacturing” Special Action, which clearly states

[1][2]. This national-level policy support directly ignited market enthusiasm for BCI concept stocks.

Meanwhile, the Sichuan Provincial Medical Security Bureau recently issued a notice clarifying the pricing for BCI medical services, with a maximum implantation fee of RMB 6,583 per session, which will take effect on April 30, 2025[2]. This pricing guideline provides a clear path for the commercialization of BCI technology.

Cofoe Medical has made two important strategic investments in the BCI field[1][3]:

Investment Time	Investment Target	Stake Ratio	Business Focus
May 2024	Niu Lingke Medical	5.83%	Implantable BCI technology, R&D of bionic eye and bionic ear products
End of 2025	Lizhi Intelligence	12.45%	R&D of non-invasive BCI robots and other products

These investments form in-depth synergy with the company’s existing businesses: Niu Lingke Medical’s bionic eye/ear products have strategic synergy with Cofoe Medical’s existing hearing business, while Lizhi Intelligence’s non-invasive BCI robots have strategic synergy with the company’s rehabilitation aids and respiratory support products.

On January 6, 2026,

[4]. This financing scale is second only to Neuralink (owned by Elon Musk), ranking second globally in the BCI field. This major financing event has greatly increased market attention to the BCI track.

The

, the ETF with the highest exposure to BCI concepts in the entire market, has performed strongly, attracting nearly RMB 800 million in capital over the past 5 days[1][3]. Cofoe Medical accounts for over 23% of this ETF’s constituent stocks, making it the ETF with the highest BCI exposure. As of January 8, 2026, intraday subscriptions for the Medical Devices ETF exceeded 450 million shares, with significant capital inflows.

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Time Point	Performance
Noon on January 8, 2026	Share price rose 19.78% , showing strong performance[2]
11:24 on January 8, 2026	Share price rose over 17% , closing at RMB 59.30[1]
January 6, 2026	Closing price of RMB 50.78, up 2.32% on the day[5]

Cofoe Medical traded actively on January 6, 2026, with trading volume reaching 133,700 lots (approximately 13.37 million shares), turnover of RMB 663 million, and a turnover rate of 6.88%[5].

Capital Type	Net Inflow (RMB 10,000)	Proportion
Main Force Capital	+4860.52	7.33%
Hot Money	-148.69	-
Retail Investors	-4711.83	-

In terms of capital flows,

, while retail capital recorded a net outflow, indicating that institutions and large-capital investors are actively positioning themselves, and retail investors may be taking profits[5].

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Indicator	Value	YoY Change
Main Business Revenue	RMB 2.398 billion	+6.63%
Net Profit Attributable to Parent	RMB 260 million	+3.3%
Q3 Single-Quarter Revenue	RMB 902 million	+30.72%
Q3 Single-Quarter Net Profit	RMB 92.8298 million	+38.68%
Debt Ratio	27.37%	Robust
Gross Profit Margin	53.35%	Favorable

: The company’s performance maintained steady growth, especially the explosive growth in Q3 2025. The gross profit margin of 53.35% indicates strong profitability; the debt ratio of 27.37% shows relatively prudent use of financial leverage. The household medical devices track benefits from population aging and the upgrade of health consumption.

Over the past 90 days,

, 7 of which are Buy ratings and 1 is an Overweight rating, indicating widespread institutional optimism about the company’s future development[5]. The average institutional target price is , which creates some callback pressure relative to the current share price, but market sentiment remains positive considering concept heat and performance growth expectations.

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Rating Type	Number of Institutions
Buy	7
Overweight	1
Sell/Underweight	0

It is worth noting that several listed companies have recently issued announcements warning of risks related to BCI[4]:

• Nanjing Panda
  : Currently has no mature BCI-related products, and has not generated relevant sales revenue
• Xiangyu Medical
  : As of the end of 2025, related products have not yet achieved large-scale sales, accounting for a small proportion of revenue
• Sanbo Brain Hospital
  : Currently not involved in the R&D, production, or sales of BCI products

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Support Level Type	Price Range
Short-Term Support	RMB 50-52 (area of 10-day/20-day moving averages)
Medium-Term Support	RMB 45-48 (previous consolidation platform area)

Resistance Level Type	Price Range
Short-Term Resistance	RMB 60-62 (area of previous highs)
Strong Resistance	RMB 65-70 (area of historical highs)

: The current price is in the RMB 59-60 range. If it can effectively break through and hold steady, it is expected to challenge previous highs; the RMB 55 area serves as a short-term bull-bear dividing line, and attention should be paid to the confirmation of pullbacks; the integer level of RMB 50 is an important psychological support level.

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. The core driver of the share price surge is , rather than a material improvement in the company’s fundamentals. The company’s investments in the BCI field are still in the strategic layout stage, and it is unlikely to contribute significant performance in the short term. The share price has risen sharply in the short term (up over 17% on January 8), creating demand for a technical correction.

The following key indicators need to be monitored:

1. R&D progress and commercialization of BCI-related products
2. Performance of the 2025 annual report and 2026 first-quarter report
3. Sustained capital inflows from institutional investors such as the Medical Devices ETF
4. Implementation progress of policies related to the BCI industry

Investor Type	Suggestions
Holders	May continue to hold, but should set take-profit/stop-loss levels (e.g., reduce positions if breaking below RMB 55)
Onlookers	It is recommended to wait for a pullback to the RMB 50-52 range before considering positioning, and avoid chasing highs
Risk-Taking Investors	May participate with a small position, and set strict stop-loss levels (stop loss if breaking below RMB 48)

• Breakout Signal
  : If it breaks through RMB 60 with volume and holds steady, it can confirm the continuation of short-term strength
• Callback Signal
  : If there is a volume-driven drop and a break below RMB 55, investors should be vigilant of short-term adjustments
• Key Time Points
  : End of January 2026 (annual report preview period) and April (implementation of Sichuan’s BCI medical service pricing)

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Cofoe Medical (301087)‘s strong performance is mainly driven by

. The company’s forward-looking layout in this field (two investments in Niu Lingke Medical and Lizhi Intelligence) has made it a market-recognized core target of the BCI concept. Combined with national-level policy support (MIIT and seven other ministries’ opinions) and industry financing hotspots (BrainCo’s RMB 2 billion financing), the company’s share price has risen significantly.

, the company’s Q3 2025 report showed strong performance, with both Q3 single-quarter revenue and net profit achieving growth of over 30%, providing certain support for the share price.

: The current share price has already reflected relatively optimistic expectations, with a large component of concept speculation. It is recommended that investors distinguish between thematic investment and value investment, set appropriate stop-loss levels, and avoid blindly chasing highs. The BCI business is still in the early stage of development, and there is uncertainty in its future commercialization process.