Analysis Report on the Strong Performance of ApexMed (300753)
1. Event Overview and Key Findings
This analysis is based on multiple reports from Securities Times Network [1], Eastmoney [2], Sina Securities [3], and Time Weekly [4], focusing on the abnormal performance of ApexMed (300753) when it entered the strong stock pool in mid-January 2026. The stock recorded a
48.88% gain
in 20 trading days, with a monthly increase of 50.62% and a year-to-date (YTD) gain exceeding
102.55%
, rising from 26.72 yuan on December 15 to 39.78 yuan, hitting a 52-week high of 44.12 yuan during the period [0].
The analysis reveals that this strong performance is mainly driven by the dual catalysts of
brain-computer interface (BCI) concept hype
and
oximeter sector linkage
, coupled with positive institutional research and capital game factors. However, technical indicators have issued clear overbought signals, and fundamental support is weak. Investors need to be alert to valuation bubbles and pullback risks.
2. Comprehensive Analysis
2.1 In-Depth Analysis of Upward Drivers
BCI concept hype
is the core catalyst for this rally [4]. In early January 2026, Musk announced on social media that his BCI implant device would enter “mass production” in 2026, which quickly ignited market enthusiasm. The Human Brain Engineering sector index surged
13.24%
in a single day, and concept stocks such as Innovation Medical and Yanshan Technology saw 4 consecutive limit-up sessions [4]. As one of the concept stocks, ApexMed recorded a strong performance of “3 limit-up days in 4 days”, with a cumulative gain of
53.59%
in 4 trading days [1]. Meanwhile, Strong Brain Tech, a Chinese BCI “unicorn”, announced the completion of approximately
200 million yuan in financing
on January 7, further boosting market enthusiasm [4].
Strength of the oximeter sector
provided additional upward momentum. On January 8, the oximeter sector performed strongly, and ApexMed, as one of the concept stocks, successfully hit the daily limit [3]. Peer stocks such as Cofoe Medical and Lepu Medical led the gains, forming a sector linkage effect.
Institutional research enthusiasm
provided fundamental endorsement for the stock price increase. On January 5, ApexMed received a concentrated research visit from
142 institutions
[2]. The disclosure of research information significantly increased market attention and attracted incremental capital inflows. Data from the Dragon and Tiger List shows that institutional seats recorded a
net purchase of 43.0574 million yuan
[1], indicating a certain degree of recognition of the stock by institutional capital.
2.2 Volume and Capital Flow Characteristics
Trading volume data reveals the intensity of capital games. The average daily trading volume reached
23.65 million shares
, a
168% increase
compared to the average of 8.81 million shares [0]. More notably, capital flows have shown rapid switching characteristics: main capital recorded a net inflow of
156 million yuan
on January 5,
70.58 million yuan
on January 6, but turned to a net outflow of
73.70 million yuan
on January 7 [1]. This “fast in, fast out” capital behavior indicates that main capital is focused on short-term games, with poor holding stability.
Turnover data further confirms the characteristic of highly dispersed chips. The cumulative turnover rate in 4 trading days reached as high as
120.55%
[1], meaning that nearly all tradable chips have been turned over. At the same time, the stock has appeared on the Dragon and Tiger List multiple times due to “daily turnover rate reaching 30%” and “cumulative deviation of gains over 3 consecutive days reaching 30%” [1]. It is worth noting that brokerage seats recorded a
net sale of 13.6879 million yuan
[1], showing an obvious game between institutional buying and profit-taking by retail investors and hot money.
2.3 Technical Analysis
Technical indicators have issued clear
overbought warnings
. The current KDJ indicator values are K: 82.1, D: 81.8, J: 82.8 [0], all in the overbought zone (usually defined as above 70). The J value touching 82.8 indicates strong short-term pullback pressure. Although the MACD indicator remains in a bullish pattern, there has been no golden cross signal, and bullish momentum has weakened [0].
From the price range perspective, the stock price has broken through multiple key technical resistance levels. The current stock price fluctuates around 39.78 yuan, with an immediate support level near 39.00 yuan, and the
strong support level is at the 20-day moving average of 31.36 yuan
[0]. On the upside,
41.17 yuan is an important technical resistance level
, and the 52-week high of 44.12 yuan was touched on January 13 before pulling back. The intraday trend showed a pullback after a rally, with an amplitude of
-7.90%
on January 13 [0], closing with a long upper shadow negative candle, which is a typical short-term top signal.
2.4 Fundamental Evaluation
There is a significant divergence between the company’s fundamentals and the stock price increase. ApexMed’s main businesses include
pain management devices
(microcomputer infusion pumps),
nasal care products
(nasal care sprays), and
anesthesia depth monitors
and other medical devices [0], and the actual relevance to the BCI concept is questionable. Multiple experts pointed out that there is a phenomenon of “rampant concept hype” in this field, and some enterprises are suspected of “following the trend to promote” [4].
Financial data shows that the company has just emerged from losses. The latest quarter (Q3 2025) EPS is
0.06 yuan
, achieving a turnaround from losses to profits, but the trailing twelve months (TTM) EPS is still
-0.04 yuan
[0]. The ROE is
-0.66%
, and the net profit margin is
-1.18%
, reflecting that the profitability has not yet stabilized. In terms of valuation, affected by historical losses, the P/E ratio is
-1116x
, and the P/S ratio reaches
13.17x
[0], with no reasonable support for valuation.
3. Key Insights
3.1 The Fragile Nature of Concept-Driven Rallies
Essentially, this rally is an
event-driven hype
rather than being driven by fundamental improvement. BCI technology is still in the early R&D stage, and there are significant uncertainties in the commercialization process. The depth of ApexMed’s actual business layout in this field is not yet clear, and the relevance between its main business and the BCI concept is questionable. This means that the stock price increase lacks solid performance support, and once market sentiment cools, the risk of valuation pullback is significant.
3.2 Structural Game Between Institutions and Retail Investors
Dragon and Tiger List data reveals the complex mentality of market participants. The net purchase of 43.05 million yuan by institutional seats shows that professional investors recognize short-term opportunities, but the net sale of 13.68 million yuan by brokerage seats indicates that retail investors and hot money are taking profits [1]. This pattern of “institutions taking over, hot money exiting” often signals that the short-term market is entering its final stage. At the same time, the behavior of
Zhang Hong Selected No.1, a shareholder holding more than 5% of the shares, reducing holdings by 755,700 shares
[2] further confirms the cautious attitude of insiders towards the current stock price level.
3.3 Systemic Risk of Valuation Bubble
The current stock price has seriously deviated from fundamentals. Calculated at 39.78 yuan, the company’s market value is approximately 5.01 billion yuan [0], but considering that the company has just achieved a small profit and its profitability has not yet been verified, this valuation level contains a large bubble. Historical experience shows that concept hype-driven rallies often end with sharp pullbacks, and investors should be cautious about chasing highs.
4. Risks and Opportunities
4.1 Main Risk Factors
| Risk Type |
Risk Level |
Specific Performance |
Valuation Bubble Risk |
🔴 High |
50% monthly gain but just returned to profitability, P/E ratio of -1116x |
Technical Overbought Risk |
🔴 High |
All three KDJ values are in overbought territory, daily candlestick with long upper shadow |
Capital Flight Risk |
🔴 High |
120% turnover rate, main capital moving in and out rapidly |
Concept Authenticity Risk |
🟠 Medium |
Small proportion of BCI-related business, suspicion of “hitching a ride on hot topics” |
Regulatory Inquiry Risk |
🟠 Medium |
The company has issued an abnormal fluctuation announcement |
4.2 Potential Opportunity Windows
Concept Sustainability Opportunity
: If major technological breakthroughs or policy benefits occur in the BCI field, related concept stocks may usher in a new round of hype. The progress of Neuralink, industry financing dynamics, and policy support are all key observation indicators [4].
Value Opportunity After Pullback
: If the stock price pulls back to the vicinity of the 20-day moving average (31.36 yuan), under the premise of sustained concept heat, a technical rebound opportunity may form. However, this judgment is based on the premise that there is no major deterioration in fundamentals.
4.3 Time Sensitivity Assessment
The current risk is
highly time-sensitive
. The overbought technical state may trigger a rapid pullback at any time, and the
11.11% single-day drop
on January 7 has already indicated severe stock price volatility. Concept heat is also time-sensitive, and once news related to Neuralink subsides or market attention shifts, the concept hype market may cool rapidly.
5. Key Information Summary
The core reason for ApexMed (300753) entering the strong stock pool is the dual drive of
BCI concept hype
and
oximeter sector linkage
[3][4]. From January 5 to 8, it recorded “3 limit-up days in 4 days”, with a cumulative gain of 53.59% in 4 trading days and a turnover rate of 120.55% [1], showing extremely intense capital games. The concentrated research visit by 142 institutions [2] and the net purchase of 43.05 million yuan by institutions [1] provided short-term endorsement for the market.
However, the analysis reveals multiple risk signals:
KDJ indicators are in the overbought zone
(K: 82.1, D: 81.8, J: 82.8) [0], and the stock price has shown top characteristics (pullback after rally, long upper shadow negative candle);
weak fundamental support
– the company has just achieved a small profit (P/E ratio of -1116x), and the relevance between its main business and the BCI concept is questionable;
capital behavior warnings
– main capital moving in and out rapidly, shareholder share reduction, net sale by brokerage seats.
A comprehensive assessment shows that this rally is of a
concept-driven, hot money hype
nature, with weak fundamental support. Short-term top signals have appeared. It is recommended that existing holders consider reducing positions on rallies, and observers
should not chase highs
and patiently wait for opportunities after a pullback. It is necessary to continuously track BCI industry dynamics, company business explanations, and changes in main capital flows.
Information Sources
[0] Jinling Analysis Database - Technical Analysis, Financial Data, Market Data
[1] Securities Times Network - ApexMed Records 3 Limit-Up Days in 4 Days Publication Date: 2026-01-08
[2] Eastmoney - ApexMed Stock Page Access Date: 2026-01-13
[3] Sina Securities - Oximeter Sector Strengthens, ApexMed Hits Daily Limit Publication Date: 2026-01-08
[4] Time Weekly - Gimmick or Mature Technology? 10 BCI Concept Stocks Hit Consecutive Limit-Ups at the Start of the Year Publication Date: 2026-01-08
