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Core Viewpoint - The brain-computer interface (BCI) sector is gaining momentum, with significant developments from companies like Neuralink and BoRuiKang, indicating a potential boom in the market by 2026 [1][7]. Company Developments - Neuralink, founded by Elon Musk, aims for large-scale production of its devices by 2026, which has positively impacted global stock markets [1]. - BoRuiKang, a Chinese BCI company, is preparing for an IPO on the Sci-Tech Innovation Board after completing its counseling registration with the Shanghai Securities Regulatory Bureau [2]. - BoRuiKang's founder, Xu Honglai, has a strong academic background in biomedical engineering from Tsinghua University and has been pivotal in the company's development since its establishment in 2011 [3][4]. Product Innovations - BoRuiKang's notable product, the NEO system, utilizes a "semi-invasive" technique for brain interface implantation, which minimizes damage to neural tissue and avoids the need for batteries in the brain [4]. - The company has achieved significant milestones, including the first human implantation surgery in Shanghai in November 2024, with patients showing rapid recovery [4][5]. Market Trends - The global BCI market is projected to grow from $2.62 billion in 2024 to over $12.4 billion by 2034, with a compound annual growth rate (CAGR) of 17.35%, driven by the demand for treatments of neurological diseases and rehabilitation [8]. - In China, the BCI market is expected to reach 3.2 billion yuan in 2024, with projections of 6.14 billion yuan by 2028, indicating a doubling in four years [10]. Investment Landscape - BoRuiKang has attracted significant investment, with its valuation estimated between 3.5 billion to 4 billion yuan following its D-round financing [5]. - The company has received backing from prominent investors such as Sequoia China and Baidu Ventures, highlighting the growing interest in the BCI sector [4]. Competitive Landscape - The BCI industry is characterized by a mix of domestic and international players, with varying technological approaches. BoRuiKang focuses on both non-invasive and semi-invasive solutions, while competitors like Neuralink are exploring multi-channel flexible electrodes [12]. - The domestic market is witnessing a shift towards local production, with a current market share of 15-20% for domestic core devices, as companies like BoRuiKang lead in the non-invasive EEG collection segment [10][11].