脑机接口IPO浪潮起！强脑科技赴港上市，行业商业化拐点已至？

Group 1: Industry Overview - Brain-computer interface (BCI) technology is at a critical juncture of "technological breakthrough to commercialization," supported by policies, technology, and application scenarios [2] - The global market for BCI is expected to change due to policy benefits, external production expectations, and domestic clinical breakthroughs [2] - Invasive BCI products are still in clinical trials, while non-invasive products, such as rehabilitation systems and sleep aids, have been partially launched [2] Group 2: Technological Advancements - Advancements in chips, electrodes, and algorithms, along with improved regulatory standards, are expected to lead to intensive commercialization of BCI products in the coming years [2] - Companies like Neuralink plan to start large-scale production of BCI devices by 2026, with significant innovations in surgical procedures [2] Group 3: Competitive Landscape - The BCI industry in China is still in its early stages, with most companies being small in scale [2] - There is a notable advantage in the signal quality of invasive BCIs, while non-invasive BCIs offer high safety and ease of operation, serving as a complement to invasive types [2] Group 4: Industry Chain and Key Players - Upstream: Innovative Medical has strategically invested in Hangzhou Boling Medical Technology to enter the BCI field [3] - Midstream: Nanjing Panda is developing key technologies for multimodal human-computer interaction systems based on BCI technology [6] - Downstream: Sanbo Neuroscience has achieved breakthroughs in precise tumor removal technology and is exploring clinical applications related to brain science [8]