Core Viewpoint - The company Lingyi iTech (领益智造) is in a critical phase of steady growth and multi-track layout, with plans for a share reduction by its actual controller, which is not expected to directly impact the stock price. Financial Performance - For the first three quarters of 2025, the company's revenue reached 37.59 billion yuan, representing a year-on-year growth of 19.25% - The net profit attributable to shareholders was 1.94 billion yuan, with a year-on-year increase of 37.66% - The company's profitability continues to improve, with both gross margin and net margin steadily increasing [1] Business Segments Server Solutions - Lingyi iTech has developed comprehensive capabilities in cooling solutions for AI servers, including CDU, liquid cooling modules, and various power supply solutions - The recent acquisition of Limin Da enhances the company's "cooling + power" layout in AI servers, with products covering liquid cooling plates and server racks, serving major clients like NVIDIA and Intel [2] Robotics - In the robotics sector, the company possesses core technologies in reducers, drivers, and motion controllers, offering a wide range of processing and development services - Strategic partnerships have been established with leading companies such as Tesla and UBTECH to collaborate on hardware manufacturing, market expansion, and AI model development [3] AI Glasses - Lingyi iTech focuses on the development of core components and technologies for AI glasses and XR wearable devices, collaborating closely with terminal brands to provide essential parts - The AI-enabled AI/AR glasses are expected to see rapid growth, positioning the company to benefit significantly as a core component supplier [3] Foldable Screen Hardware - The company specializes in providing one-stop solutions for foldable screen hardware, supplying key components such as ultra-thin titanium alloy support parts for products like Samsung's Galaxy Z Fold7 [4]

Group 1 - Sam Altman, CEO of OpenAI, has successfully raised $252 million (approximately 1.8 billion RMB) in seed funding for Merge Labs, a brain-computer interface company, significantly exceeding the early funding scale of most neurotechnology companies [2][3] - Merge Labs is focusing on a non-invasive technology approach, utilizing ultrasound and other methods to send and receive information without implanting electrodes in the brain, contrasting sharply with Elon Musk's invasive strategy with Neuralink [2][3] - The competition between Altman and Musk in the brain-computer interface sector represents a broader trend in the global brain-computer interface industry, which is experiencing rapid growth due to technological breakthroughs, supportive policies, and increased capital investment [6][9] Group 2 - OpenAI is the largest investor in Merge Labs' recent funding round, indicating a potential integration of OpenAI's core algorithms with brain-computer interface technology, which distinguishes Merge Labs from other companies in the field [4] - Merge Labs aims to connect biological intelligence with artificial intelligence to maximize human capabilities and experiences, developing a new paradigm of brain-computer interfaces for high-bandwidth interaction with advanced AI [4] - The global brain-computer interface market is projected to grow from approximately $2.62 billion in 2024 to $12.4 billion by 2034, with China's market expected to increase from 3.2 billion RMB in 2024 to 5.58 billion RMB by 2027, reflecting a compound annual growth rate of about 20% [6]

Core Viewpoint - Guanhao Biological (300238.SZ) has stated that it has not yet established a partnership with Qiangnao Technology, and any relevant information should be based on the announcements published by the company in designated information disclosure media [1] Company Information - The company confirmed on its interactive platform that there is currently no collaboration with Qiangnao Technology [1] - The company emphasized that stakeholders should refer to official announcements for accurate information [1]

记者丨陶力 倪雨晴 彭新 孔海丽 董静怡 骆轶琪 编辑丨骆一帆 科技的迭代速度，正愈发超越人们想象。 2025年，人工智能、量子计算、聚变能源、航天工程等关键领域，均迎来突破性进展，中国 与美国在核心赛道的引领与竞争，推动全球科技格局发生深刻变革。从开源AI模型打破算力 垄断到"人造太阳"刷新能源探索纪录，从量子计算逐步突破到商业航天技术成熟，一系列重 大科技事件不仅重塑了产业生态，也改写了技术发展的底层逻辑。 随着技术积累的持续深化与应用场景的不断拓展， 2026年成为科技从"实验室走向产业化"的 关键一年 ，AI与物理世界的深度融合、脑机接口探索商业化、低空经济的规模化发展等趋 势，将进一步推动科技与民生、产业的深度绑定，开启新一轮全球科技革命与产业变革。 21世纪经济报道科技团队在采访行业专家和资深从业人员的基础上，经过深入讨论和研究， 系统梳理出了2025年全球重大科技事件，观察和透视2026年行业发展新趋势，力图呈现科技 浪潮下的产业变革与未来图景。 2 0 2 5年全球科技重大事件回顾 1.DeepSeek引领全球开源AI模型 2025年春节期间，DeepSeek火爆出圈，迅速在全球应用市场霸榜， ...

Core Insights - The article highlights the significant challenges in the robotics field, particularly in developing dexterous hands, which are considered more difficult to master than basic locomotion [1] - By 2025, the market for dexterous hands is expected to see a substantial increase, with sales surpassing 10,000 units and a market size that has grown several times year-on-year due to strong capital inflow and investment [1] Group 1: Technology Routes - Three main technical routes have been explored to achieve human-like dexterity in robots: direct drive, linkage drive, and tendon-driven systems, each with its own advantages [2] - The direct drive solution features high precision and fast response, with finger bending taking only 0.3 seconds and achieving sub-millimeter precision [3] - Leading companies in the direct drive sector include Zhaowei Electromechanical, which has innovated with a micro hollow cup motor, and X-Dawn Era, which has developed a fully direct drive dexterous hand with 12 degrees of freedom [7][8] Group 2: Challenges in Dexterous Hand Development - The development of dexterous hands faces three major challenges: data acquisition, material durability, and heat dissipation [17] - The intelligence of dexterous hands relies heavily on vast amounts of real-world operational data, with companies like Linkerbot and Lingxin Qiaoshou actively working to build extensive datasets [21] - Material durability is a critical issue, with companies like Qingdao High Measurement and Shandong Daye making breakthroughs in developing long-lasting materials for tendon systems [23] - Heat dissipation is a significant concern as high-power density motors generate heat that can affect performance; companies are developing integrated thermal management solutions to address this [24] Group 3: Market Dynamics and Future Outlook - As of March 2025, the number of dexterous hand companies in China has exceeded 40, indicating a dominant position in the global market [25] - The industry is moving towards a convergence of technology routes, focusing on performance, cost, and reliability, while still allowing for differentiated solutions in specific applications [26] - The upcoming FAIR plus 2026 event in Shenzhen will showcase advancements in dexterous hand technology and provide a platform for industry collaboration [28][29]

Core Viewpoint - The initiative "Technology for Good" is transitioning from concept to action, with a focus on empowering disabled individuals through technology, marking a significant expansion of philanthropic efforts into the AI sector by the company [1][3]. Group 1: Philanthropic Initiatives - The company has a long-standing commitment to educational equity and child welfare, having supported various projects such as building hope primary schools in remote areas and donating nearly 280,000 yuan worth of Skechers shoes to rural children [2][6]. - The collaboration with Qiangnao Technology aims to enhance rehabilitation training and social integration for disabled individuals, leveraging Qiangnao's leadership in non-invasive brain-computer interface technology, which has achieved a valuation exceeding $1.3 billion and recently completed strategic financing of approximately 2 billion yuan [2][6]. Group 2: Future Directions - The company is evolving from being a resource supporter to a co-builder of the philanthropic ecosystem, intending to actively connect the Thinking Public Welfare platform with innovative technological forces [3][7]. - The company emphasizes that philanthropy is not just about giving but about co-creating value, aiming to create sustainable and replicable social value through the integration of investment, philanthropy, and technology [2][7].

文 | 针探局，作者 | 曾可 脑机的伦理问题才是关键。 脑机接口，自踏入2026后，突兀的成为资本市场的新宠。 在部分证券软件统计的概念个股中，"人脑工程"已经有近50家相关企业，分别是涉及脑机安装的医疗器 材类公司、可能涉及脑机制造的消费电子类公司，甚至包括脑机内容提供商、一些软件和游戏公司。 更让人无语的是，连八字都没一撇的事儿，2026年九个交易日内整个板块已经实现超20%的涨幅。总市 值已经突破万亿人民币。 这和马斯克旧事重提有关——最近在一次访谈里，他直白地抛出了个想法：想改写人类的底层代码。他 甚至提出了一个惊人观点：人类有望实现"半永生"，只要能"改写"生命里的既定程序，就能活得更久。 在马斯克的逻辑里，这个"半永生"蓝图分两步走： 第一步靠Neuralink的脑机接口完成"意识捕捉"——往大脑里植入高密度电极阵列，采集神经元信号，最 终生成包含记忆、思维模式的"心智快照"，也就是传统意义上的灵魂。 第二步靠Optimus人形机器人当"意识载体"——让数字化的意识、也就是灵魂有个物理依托，从而实 现"意识转移"。 按照这个思路，等人类身体衰老到极限，就能通过"机械飞升"的方式，让意识以另一种形 ...

Group 1 - The construction of a "super factory" by Brain Tiger Technology in Jiangxi marks a significant transition from laboratory research to large-scale production in the brain-computer interface (BCI) sector, aiming for stable supply of tens of thousands of units [1][6] - The factory will produce China's first and the world's second fully implanted, fully wireless, and fully functional BCI system, highlighting the growing market potential across healthcare, consumer electronics, and military applications [1][6] - Global developments include Neuralink's announcement to start large-scale production of BCI devices by 2026, indicating a shift from clinical validation to industrialization [1][6] Group 2 - The Chinese government is actively promoting the BCI industry, with a policy document aiming for breakthroughs in key technologies by 2027 and a robust industry system by 2030 [2][7] - The "14th Five-Year Plan" identifies BCI as a future industry requiring strategic development, with various regions setting clear goals for BCI technology and product applications [2][7] - Successful surgeries have been performed on high-level paraplegics using BCI technology, enabling patients to control devices and participate in rehabilitation and employment activities [2][7] Group 3 - The BCI sector has attracted significant investment, with the A-share market showing a cumulative increase of over 20% since 2026, and several stocks rising more than 50% [3][8] - As of January 13, 2023, the financing balance for 26 BCI-related stocks reached nearly 25.5 billion yuan, a 15% increase from the previous year, with many stocks seeing substantial increases in their financing [3][8] - Notable companies include Meihua Medical, with a financing balance of 470 million yuan and a 255% increase, and Innovation Medical, with a balance of 744 million yuan and a 105% increase [3][8][9]

Group 1 - The core point of the article highlights the significant advancements in the brain-computer interface (BCI) industry, particularly with the construction of Brain Tiger Technology's "super factory" in Jiangxi, which marks a transition from laboratory research to large-scale production of BCI systems [3] - The factory aims to produce the first domestically developed and the world's second fully implanted, wireless, and fully functional BCI system, targeting stable supply of tens of thousands of units [3] - The BCI technology shows immense potential across various sectors, including healthcare, consumer electronics, and military aerospace, with significant developments occurring globally [3] Group 2 - The Chinese government is actively promoting the BCI industry, with a policy document issued in July 2025 outlining goals for technological breakthroughs and the establishment of a robust industry framework by 2030 [4] - The market for BCIs is projected to grow significantly, with global market size expected to reach approximately $2.62 billion in 2024 and $12.4 billion by 2034, while China's market is anticipated to grow from 3.2 billion yuan in 2024 to 5.58 billion yuan by 2027, reflecting a compound annual growth rate of about 20% [4] Group 3 - The BCI sector has attracted substantial investment, with the A-share market seeing a cumulative increase of over 20% in the BCI theme index since 2026, and several stocks experiencing gains exceeding 50% [5] - As of January 13, 2023, 19 out of 26 BCI concept stocks were eligible for margin trading, with a total financing balance of nearly 25.5 billion yuan, an increase of over 15% compared to the end of the previous year [5] - Notable companies such as Meihua Medical and Innovation Medical have seen significant increases in their financing balances, indicating strong investor interest and strategic partnerships in the BCI field [5][6]

前言 然而，随着脑机接口技术的不断成熟，我们正在经历一场关于"生命终点"的叙事重构。当数字信号开始接管受损的生物信号，科技不仅在为老年人延长生 命的长度，更是在修补他们的尊严。 宣布量产，脑机接口迎来"奇点时刻" 2026年开年第一天，"钢铁侠"马斯克便抛出了一个重磅消息。 1月1日，马斯克宣布其旗下的神经科技和脑机接口公司Neuralink将在2026年进行"大规模生产"，并转向"更加精简和几乎完全自动化的外科手术流程"。这 一消息迅速引发全球关注，因为它标志着脑机接口进入"商业化跃迁"的关键节点。 脑机接口（Brain-Computer Interface）是一种直接在大脑与外部设备之间建立通信路径的技术，广泛用于运动/言语重建、感觉恢复、神经调控与人机交互 等场景。科幻电影《黑客帝国》中，男主角尼奥的"脑后插管"，或许就是脑机接口最初的想象。 图源：X 图源：电影《黑客帝国》剧照 如果站在更久远的未来回望，2026年或许是科幻加速踏进现实的开始。 衰老——曾被视为不可逆的命运，伴随着肌肉的萎缩，人类的意识仿佛只能在渐深的黑暗中走向消亡。 然而，现实中的脑机接口技术发展，早已超越了科幻作品。如今，这项技术 ...