A股脑机接口概念风起：十日涨出千亿市值，多只个股坐上“过山车”

Core Viewpoint - The brain-computer interface (BCI) sector in the A-share market has shown significant activity at the beginning of 2026, with a cumulative increase of 18.04% in the BCI theme index as of January 16, 2026, indicating a strong interest and potential for commercialization in this emerging industry [2][4]. Industry Overview - The BCI industry is projected to reach a market size of trillions, transitioning from laboratory research to commercial applications, driven by advancements in technology and supportive government policies [3]. - The Ministry of Industry and Information Technology and other departments have emphasized the importance of BCI in their strategic plans, including its inclusion in the "14th Five-Year Plan" for future industrial development [3]. Market Performance - As of January 16, 2026, the total market capitalization of 26 listed companies in the BCI sector has increased by approximately 108.7 billion yuan over ten trading days [8]. - Notable companies like Innovation Medical and Meihua Medical have experienced significant stock price fluctuations, reflecting the volatile nature of the market and investor sentiment towards BCI technologies [5][7]. Company Developments - Innovation Medical's subsidiary, Boling Brain Machine Technology, has launched products aimed at rehabilitation for stroke patients, although it reported operating losses of 6.6 million yuan and 8.66 million yuan in 2023 and 2024, respectively [6]. - Meihua Medical, a leader in cochlear implants, is actively collaborating with BCI clients to facilitate the transition from laboratory research to commercial production, highlighting the interconnectedness of BCI and existing medical technologies [7]. Strategic Collaborations - Companies like Yahui Long and Shenzhen Brain Machine Star Chain Technology have entered strategic partnerships to develop BCI-related products, aiming to enhance diagnostic and treatment capabilities in central nervous system diseases [9]. - Aipeng Medical is also expanding its business into BCI applications, focusing on pain management and sleep disorders, indicating a broader trend of diversification within the medical device sector [9]. Technical Insights - The core technological barriers in the BCI industry are concentrated in the upstream supply chain, including hardware components and surgical techniques, with significant potential for growth in domestic market penetration and localization [10].