In the current era of accelerated and in-depth exploration of brain research, brain function detection equipment has become a key cornerstone for the development of the discipline. fNIRS brain function imaging devices, known as "functional MRI worn on the head," have gained rapidly increasing attention in both scientific research and clinical settings in recent years due to their non-invasive, portable, and accurate performance advantages. According to statistics from Google Scholar, the number of publications related to fNIRS globally exceeded 5,400 in 2022, with an annual compound growth rate of nearly 20%. Renowned institutions such as the University of Tokyo, Stanford University, Harvard Medical School, and the Mayo Clinic have each published more than a dozen high-impact articles. Clinically, fNIRS applications in China now cover nearly a thousand tertiary A-level hospitals and are widely used in departments such as psychiatry, rehabilitation, neurology, and pediatrics. In the detection and rehabilitation evaluation of various diseases such as depression, autism, cognitive impairment, and stroke rehabilitation, fNIRS is considered a highly promising next-generation biomarker.

Huichuang Medical was founded in 2016 and is the leader in China's fNIRS industry.Professor Wang Daifa, the founder and chairman of the company, has been deeply engaged in fNIRS for over 20 years, being a pioneer in academic research and its transformation within the industry; CEO Guo Genmiao is a former senior executive and chief engineer of Mindray Medical, with extensive experience in R&D, production and sales system building, enterprise management, and industrial mergers and acquisitions.Led by two leading figures in the industry, the company has built a high-quality team of nearly 200 people, with a master's and Ph.D. ratio exceeding 30%. It consistently adheres to efficient independent research, development, and innovation, breaking the monopoly of fNIRS devices by Japanese manufacturers and achieving remarkable results in establishing itself as the top Chinese-produced brand.

Academic leadership far ahead.Huichuang Medical has always adhered to academic promotion as its core strategy, actively promoting the exploration of cutting-edge fNIRS applications and clinical transformation. As of the end of September 2023, Huichuang's NIRS technology has supported expert users in publishing 160 SCI papers in top journals such as *Nature Human Behaviour* and *NeuroImage*, with a high-level article being published every 3 to 5 days on average. The Huichuang brand has been widely recognized by experts across various disciplines, and its influence continues to grow. This leading position in scientific research has enabled Huichuang to gain customer recognition and compete favorably against international brands.

A complete hardware + software ecosystem with strong scalability.In terms of hardware, Huichuang Medical has established the most comprehensive product matrix produced in China, covering small portable devices to full-brain detection equipment with the highest 157 channels in China. In terms of software, the company's independently developed NirSpark software is the first one-stop fNIRS data processing software on the market that requires no programming. Users can perform various customized analyses such as data preprocessing, hyperscanning, and brain functional connectivity analysis through a visual interface, greatly expanding the application scenarios of fNIRS in scientific research and clinical work. Currently, the application of Huichuang’s fNIRS products has long broken through the traditional paradigm limitations of psychiatric departments and has been applied across multiple departments including rehabilitation, pediatrics, and neurology, continuously iterating new paradigms and usage scenarios.

Establish a clear position commercially.After years of accumulation, Huichuang Medical has transformed its role in the industry from an "explorer" to a "pioneer." Huichuang's annual sales volume of fNIRS ranks first among Chinese brands, with commercial applications thriving across all subfields. Currently, Huichuang’s fNIRS devices have been widely applied in medical clinics and academic research, covering more than 800 top-tier institutions in China, including clinical departments at leading hospitals such as Peking University Sixth Hospital and West China Hospital, as well as prestigious universities like Tsinghua University, Beijing Normal University, and Beihang University. Many clients have already made repeat purchases. Additionally, in 2023, the company successfully completed its first overseas order, and it plans to accelerate the international expansion of its fNIRS devices in the future.

In July 2023, Eisai Co., Ltd. and Biogen Inc. launched Lecanemab, the first new Alzheimer's disease (AD) drug to receive full FDA approval in 20 years, bringing new hope to this long-stagnant field. The drug slows the rate of cognitive decline in patients by clearing excessive Aβ protein plaques in the brain. Despite the excitement surrounding the new therapy, the high cost of the drug will undoubtedly impose a significant economic burden on China’s over 10 million patients and 173 million people at potential risk. Therefore, the exploration of effective and affordable Alzheimer’s treatments is imperative.

In addition to drugs, the use of photobiomodulation to treat Alzheimer's disease is also a very promising therapeutic approach. Among these, the device developed by Cognito, founded by Professor Li-Huei Tsai's team at MIT, showed excellent results in previous Phase 2 clinical trials, with the rate of decline in ADCS-ADL scores slowing by 84% after six months of treatment. Cognito is also highly regarded by the capital market and completed a $73 million Series B financing round in March 2023. As early as 2019, Huichuang Medical filed one of the earliest principle patents in China for near-infrared light treatment of degenerative diseases, conducting extensive foundational validation and research before the trend took off. Over the past three to four years of development, Huichuang has focused on solid commercial operations, ensuring stable growth in various economic environments, while not chasing trends, refining its products to perfection, and fully validating performance.Currently, Huichuang Medical's phototherapy AD product has completed scientific clinical trials on dozens of patients, showing significantly better effects than existing drugs. The product has received special review (green channel) as a national innovative medical device and is expected to become one of the earliest phototherapy AD products to be launched in China.In addition to AD, the company has also conducted scientific research on other degenerative and psychiatric brain diseases such as autism and depression, all of which have shown promising efficacy.

As a company rooted in Danyang High-Tech Zone, Jiangsu, Huichuang Medical has benefited from the high attention and strong support of local leaders at all levels for the development of small and medium-sized enterprises, which has enabled it to continuously unleash its vitality and grow stronger.

Jing Donggen, Party Secretary of Danyang High-Tech Zone, stated,Huichuang Medical settled in the High-tech Zone through technology and talent policies in early 2016. It is an innovative national high-tech enterprise transformed from the scientific research achievements of Beihang University. It has undertaken three National Key R&D Programs, and together with the National Medical Products Administration, formulated the first national mandatory standard for near-infrared brain imaging. After years of dedication, Huichuang Medical has grown into a leader in China's near-infrared brain imaging technology and an international pioneer in brain science research and the medical application of near-infrared technology. Its products are used in over 800 hospitals and institutions such as the 301 Hospital, Peking Union Medical College Hospital, Tsinghua University, and the Chinese Academy of Sciences system, with an annual sales growth rate of about 100%. Huichuang Medical represents an excellent growth-oriented enterprise in the High-tech Zone and epitomizes the zone’s efforts to attract projects and build momentum for development. The High-tech Zone will firmly establish the service concept that "everyone is part of the business environment," providing maximum support for the construction of the Yangtze River Delta Collaborative Innovation Center for Huichuang Brain Science Medical Equipment. It will unwaveringly act as the "attendant and servant" for innovative enterprise development, striving to maximize the efficiency of technology transfer.