Analysis of Sanbo Brain Medical's Brain Science Fund Investment: RMB 700 Million Deployed in Three Key Areas

Based on the public information I searched, below is a detailed breakdown of Sanbo Brain Medical’s brain science fund investment status:

As a specialized neural medical service provider, Sanbo Brain Medical (Stock Code: 301293) has actively deployed investments in the brain science field in recent years. The company has subscribed to

through its investment platform, with a cumulative total fund scale of approximately [1][2].

Fund Name	Investment Amount	Shareholding Ratio	Total Fund Size
Shanghai Delian Bojian Venture Capital Partnership	RMB 87 million	29%	Approximately RMB 300 million
Tianjin Yuanming Haihe Brain Science Venture Capital Partnership	RMB 57 million	19%	RMB 300 million
Beinao Phase 1 (Beijing) Equity Investment Center	RMB 10 million	11.11%	Approximately RMB 90 million

• Investment Focus
  : Primarily deployed around
  technologies related to brain science and neuromodulation
  [1]
• Investment Targets
  : Early-stage and start-up unlisted enterprises in the future health field, including tool-layer enterprises in the brain science industry, enterprises focused on neurological and psychiatric system diseases, and cutting-edge brain science directions[3]

• Fund Scale
  : Targeted total fundraising amount is RMB 300 million, with Sanbo Brain Medical subscribing RMB 57 million (19% share)[2]
• Key Investment Areas
  :
  • Brain-computer interface
    technology and related devices
  • Brain disease diagnosis and treatment
    and related devices
  • Niche tracks with clinical advantages[1][2]

• Investment Focus
  : Takes brain science as the entry point[3]
• Key Areas
  : Focuses on project incubation for
  the translation of basic brain science research into clinical applications
• Specific Investment Products
  : Mainly invests in a new generation of medical equipment, consumables, and drugs used in the fields of brain disease examination, diagnosis, and treatment[3]

According to official announcements, the core investment areas of Sanbo Brain Medical’s brain science funds cover the following[1][2][3]:

1. Brain disease examination and diagnosis
   - Including new diagnostic technologies, imaging equipment, etc.
2. Treatment and monitoring
   - Covering brain-computer interfaces, neuromodulation, surgical treatment, etc.
3. Health management and rehabilitation
   - Neurological rehabilitation training, intelligent rehabilitation equipment, etc.
4. Medical informatization
   - Digital solutions related to brain science

• Brain-computer interface technology
  - Especially implantable brain-computer interface technology
• Neuromodulation technology
  - Neural regulation, stimulation technologies, and related equipment
• Neurological and psychiatric system diseases
  - Technologies related to epilepsy, Parkinson’s disease, depression, etc.

• All three funds focus primarily on
  early-to-growth stage projects
• Focus on
  early-stage and start-up unlisted enterprises
  [1][3]

• The investment and exit cycle is concentrated in
  3 to 4 years
  [1]

• Prioritizes brain science enterprises that have broken through technical barriers, possess independent intellectual property rights, and represent technological frontiers
• Focuses on leading niche enterprises and high-quality companies in the upstream and downstream of the industrial chain[2]

Sanbo Brain Medical’s establishment of brain science funds has obvious strategic synergy:

1. Clinical Scenario Advantages
   : As a specialized neurological hospital, it has abundant patient resources and clinical trial bases
2. Technology Translation Capability
   : Established a Joint Clinical Laboratory for Brain Function and Neuromodulation with Capital Medical University, and a Joint Center for Brain-Computer Precision Medicine with Tsinghua University[1]
3. Technology Verification Platform
   : Completed the world’s first clinical trial of an implantable brain-computer interface in June 2025, enabling a paralyzed patient to successfully achieve voluntary grasp control through thought[1]

Despite the proactive deployment, the following should be noted[1]:

• Revenue from neuromodulation technology accounts for a very small proportion of the company’s total operating revenue
• It has basically no impact on the company’s performance
• The brain-computer interface business is currently only in a very small-scale scientific research trial phase
• The commercialization return cycle is relatively long

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[1] Sina Finance - “Brain-Computer Interface Concept Surges, Sanbo Brain Medical’s Stock Price Doubles, but Related Businesses Remain in the Exploration Stage” (https://finance.sina.com.cn/jjxw/2026-01-17/doc-inhhqpcz4801027.shtml)

[2] Securities Times - “Plans to Subscribe RMB 57 Million in Tianjin Yuanming Haihe Brain Science Venture Capital Partnership” (https://www.stcn.com/article/detail/3329767.html)

[3] Sanbo Brain Medical 2025 Third Quarter Report - CNINFO (http://static.cninfo.com.cn/finalpage/2025-10-28/1224739610.PDF)

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