Xin Lang Cai Jing·2026-01-05 15:37Core Viewpoint - The "brain-computer interface" (BCI) concept is gaining significant attention in the A-share market, particularly following Elon Musk's announcement regarding Neuralink's plans for large-scale production of BCI devices in 2026 [1][2]. Industry Summary - The BCI sector is recognized as a rapidly developing industry, with approximately 11 provinces and cities in China having established related charging standards, spurred by the National Healthcare Security Administration's guidance on BCI rehabilitation fees [2]. - The "14th Five-Year Plan" has identified BCI as one of the six key future industries for development [3]. Company Summary - Tom Cat (300459.SZ) experienced a notable stock increase of 16.34% on January 5, 2026, following its involvement in the BCI field through its subsidiary, Shanghai Jinke Tom Cat Life Technology Co., Ltd., which focuses on BCI research and applications [4][5]. - The company has filed multiple patents related to BCI technologies, including flexible sleep monitoring devices and wireless brain stimulation systems [5]. - Despite its involvement in BCI, Tom Cat has a total of 37 concepts, including cloud gaming, metaverse, artificial intelligence, and more [6]. - Currently, Tom Cat does not have any formal commercialized products in the BCI sector, focusing instead on technology accumulation and business exploration [7]. - The company has faced financial challenges, reporting a net loss of 865 million yuan in 2023 and a projected loss of 859 million yuan in 2024 [9][10]. - Historical stock performance shows significant volatility, with a maximum increase of 210.49% from late 2022 to mid-2025, followed by a substantial decline of 66.53% [11][12]. - The company has incurred substantial goodwill impairment losses, totaling 2.611 billion yuan in 2019 and over 1.7 billion yuan in 2023 and 2024 [12].