意念控物成真，脑机接口产业化爆发，这波机会别错过

Core Viewpoint - The brain-computer interface (BCI) technology is advancing rapidly, with significant support from government policies, clinical trials, and capital investment, positioning it as a key growth sector with potential applications across various industries [2][5][17]. Policy Support - The Chinese government has included BCI in its key development list for future industries, with concentrated policy support expected to accelerate clinical trials and market activity by 2025 [2][5]. - Local governments are establishing special funds and action plans to facilitate the development of the BCI industry, particularly in major cities like Beijing and Shanghai [5]. Clinical Advancements - By 2025, the number of clinical trials for BCI in China is projected to increase significantly, with breakthroughs in invasive, semi-invasive, and interventional technologies [5]. - The first global interventional BCI human trial has been completed, and advanced devices featuring "fully implanted, fully wireless" capabilities are being developed [5][10]. Capital Investment - In the first 11 months of 2025, there were 24 financing events in the BCI sector in China, marking a 30% year-on-year increase, supported by government funds and market capital [5][6]. - Notable financing rounds include several companies raising millions to billions in funding, indicating strong investor interest [6]. Industry Growth - The BCI sector is evolving into a trillion-yuan market, with major players like Neuralink preparing for large-scale production of devices, while domestic companies are making significant technological advancements [4][5]. - The industry is witnessing a robust influx of capital, with a strong willingness among investors to lock in shares, indicating confidence in the sector's stability and growth potential [4]. Technological Breakthroughs - BCI technology is categorized into invasive, semi-invasive, and non-invasive types, with invasive methods providing the best signal quality for capturing neural activity [7][10]. - Domestic advancements include breakthroughs in electrode arrays and decoding algorithms, achieving over 90% accuracy in Chinese character writing recognition [10]. Application Scenarios - BCI technology is being applied in various fields, including medical rehabilitation for paralysis and neurological disorders, as well as in industrial safety, aerospace, and entertainment [12][10]. - Specific applications include fatigue monitoring in industrial settings, cognitive health assessments in aerospace, and training aids in sports and education [12]. Industry Chain Opportunities - The BCI industry's growth is supported by a comprehensive supply chain, with opportunities in upstream components like electrodes and chips, midstream systems and algorithms, and downstream applications in healthcare and consumer products [13][16]. - Companies focusing on core components, clinical applications, and those with established market channels are well-positioned to benefit from the industry's expansion [16]. Investment Recommendations - Investors are advised to focus on three key areas: technology-leading companies, clinical application firms, and those with strong industry chain collaborations, as the BCI sector transitions from clinical validation to large-scale implementation [17].