首次进入审批“绿色通道”，我国脑机接口产品有望迈向市场化阶段

Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Viewpoints - The brain-computer interface (BCI) industry in China has taken a significant step towards commercialization with the "Implantable Wireless Brain-Computer Interface System" developed by Shanghai Ladder Medical Technology Co., Ltd. entering the special review process of the National Medical Products Administration (NMPA) [2][4] - The entry into the "green channel" indicates that the product has received recognition for its technological leadership and significant clinical application value from national regulatory authorities [10] - The report suggests focusing on three main investment lines: 1) domestic mapping of advanced overseas invasive BCI industry chains; 2) non-invasive BCI products in consumer scenarios; 3) downstream application-related targets in the BCI sector [2][10] Summary by Sections Event Description - On November 11, the "Implantable Wireless Brain-Computer Interface System" officially entered the NMPA's special review process, marking it as the first invasive BCI product in China to do so [4] Event Commentary - The BCI industry is currently in a critical phase of clinical transformation, and the entry of this product into the special review process may accelerate the overall industrialization progress of BCIs in China [10] - Continuous breakthroughs in technology are driving the rapid development of the industry, with Shanghai Ladder Medical achieving significant advancements in their BCI system, which has shown promising clinical trial results [10] - Favorable policies have been introduced at both national and local levels to support the BCI industry, indicating a strong commitment to its future development [10]