扬子晚报网讯(记者吴佳笑)12月18日，2025长三角脑机接口平台建设暨产业创新发展会议在南通创新区举办。这场由南通市人民政府、长三角国家技术创 新中心联合主办的行业盛会，吸引了国内院士专家、投资机构及头部企业代表百余人齐聚一堂，共同为脑机接口产业发展献策，助力南通创新区产业生态 提质升级，推动长三角脑科学创新资源高效协同。 "脑机接口作为生命健康领域的新兴赛道，蕴藏着万亿级蓝海市场。"南通市副市长熊俊在致辞中表示，近年来南通锚定生命健康产业发展方向，通过集聚 龙头企业、搭建公共服务平台、打造特色产业园区等一系列举措，加速构建现代化产业体系。他指出，南通将以此次会议为契机，以创新区生命健康产业 为支点，深化产学研用合作，推动脑机接口技术从实验室走向临床一线，既成为科技突破的标杆，更化作惠及民生的福祉，在江海之滨书写脑科学与产业 融合发展的新篇章。 "临床研究是脑机接口落地应用的核心关键。"南开大学杰出教授、江苏集萃介入脑机信息技术研究所所长段峰表示，创新联合体的成立打通了技术研发与 产业转化的壁垒。他透露，团队将与江苏省人民医院开展深度合作，共建临床研究中心，围绕介入式脑机接口的原创研究成果，探索更多临床应用 ...

Core Insights - The Chinese Academy of Sciences' Center for Excellence in Brain Science and Intelligent Technology has made significant advancements in the field of invasive brain-machine interfaces (BMIs) [1] - A research team successfully completed the second clinical trial of an invasive BMI, enabling a high-level paraplegic patient to control a smart wheelchair and robotic dog using brain signals in real-life scenarios [1] Technical Breakthroughs - The research achieved a series of breakthroughs in key technologies, improving the brain control performance by 15% to 20% even in noisy environments [2] - The team overcame challenges related to signal instability caused by environmental noise and the physiological and psychological fluctuations of patients [2] - Patients can now adjust decoding parameters in real-time during daily use without interrupting their operations for calibration [2] Response Time Improvement - The study introduced a custom communication protocol that reduced the end-to-end latency from signal acquisition to command execution to under 100 milliseconds [3] - This latency is lower than the physiological delay of 200 milliseconds in human neural pathways, resulting in a smoother and more natural control experience for patients [3]

Core Insights - The recent clinical trial by the Chinese Academy of Sciences has successfully demonstrated a brain-computer interface (BCI) that allows a quadriplegic patient to control a smart wheelchair and a robotic dog using only their thoughts, marking a significant advancement in rehabilitation technology [2][4]. Group 1: Technological Advancements - The BCI technology aims to establish a direct communication channel between the brain and external devices, overcoming previous challenges in integrating technology into patients' daily lives [4]. - The research team achieved a breakthrough from "2D interaction" to "3D expansion," enhancing the practical application of BCI in real-world scenarios [4]. - A series of technical breakthroughs were made, including the development of high-compression, high-fidelity neural data compression technology and a hybrid decoding model that improves brain control performance by over 15% even in noisy environments [4]. Group 2: Clinical Application and Future Prospects - The clinical trial, set to continue until 2025, is a collaboration between the Chinese Academy of Sciences, Fudan University Huashan Hospital, and related enterprises, indicating a strong commitment to advancing BCI technology [4]. - The introduction of "neural manifold alignment technology" allows for the extraction of stable features representing core intentions from variable neural signals, enhancing the system's reliability in everyday use [4]. - The ongoing development of BCI technology is supported by national policies and ethical guidelines, paving the way for a safer and more effective integration of BCI into clinical applications [5].

Group 1: AI Healthcare and Medical Technology - The AI healthcare sector is experiencing significant growth, with companies like Meinian Health and Luyuan Pharmaceutical seeing consecutive gains, indicating strong market interest and potential [1] - Ant Group's AI health application "Antifufu" has been upgraded, achieving over 15 million monthly active users and ranking third on the Apple app store, showcasing the consumer market's potential for AI healthcare applications [3] - The National Health Commission of China has outlined plans for the development of AI in healthcare, aiming for widespread implementation of intelligent assistance in grassroots medical services by 2030 [3] Group 2: Brain-Computer Interface (BCI) Developments - The second clinical trial of an invasive brain-computer interface has shown progress, achieving a breakthrough in three-dimensional interaction with a latency of under 100 milliseconds, which is crucial for practical applications [3] - The global orthopedic robotics market is projected to reach 56.74 billion yuan by 2030, with a rapid growth rate in the domestic market, indicating a strong future for BCI technology in rehabilitation and treatment of neurological disorders [4] - The integration of BCI technology with AI is expected to create significant growth opportunities, benefiting various segments of the supply chain, including neural sensors and rehabilitation devices [4] Group 3: Market Trends and Investment Opportunities - The medical health sector is witnessing a recovery in procurement amounts, with a 34% year-on-year increase in the first three quarters of 2025, indicating a positive trend for industry performance [4] - AI healthcare and brain-computer interfaces are emerging as attractive investment opportunities, supported by favorable policies and capital interest, allowing companies to capture market share through technological advantages [4]

智通财经获悉，脑机概念股集体高开，截至发稿，脑洞极光(06681)涨10.35%，报6.29港元；南京熊猫电 子股份(00553)涨1.63%，报4.36港元。 中信建投认为，脑机接口产业链上中游的技术进步带来下游应用端不断突破，近年来国内外在运动恢 复、语言沟通、听力重建等医疗领域的研究不断出现里程碑式成果。国家层面和各地区推出多项政策利 好行业加速发展，近期国家医保局发文为脑机接口新技术价格单独立项，其进入临床应用的服务收费路 径已经铺好。在技术革新和政策红利催化下，国内脑机接口公司有望逐步实现商业化应用。 本文源自：智通财经网 消息面上，据证券时报报道，中国科学院脑科学与智能技术卓越创新中心赵郑拓、李雪研究团队今年已 联合相关医院和企业，完成三例侵入式脑机接口临床试验，在生活场景应用方面实现突破。其中，在第 二例临床试验中，研究团队采用高通量无线侵入式脑机接口系统，使一位高位截瘫患者能够通过脑电信 号稳定操控智能轮椅与机器狗，在真实生活场景中实现自主移动与物品取用。 ...

每经AI快讯，港股脑机概念股集体高开。截至发稿，脑洞极光(06681.HK)涨10.35%，报6.29港元；南京 熊猫电子股份(00553.HK)涨1.63%，报4.36港元。 ...

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing significant advancements, with recent clinical trials demonstrating practical applications that could lead to commercial opportunities in the healthcare industry [1] Industry Developments - The brain-computer concept stocks opened high, with notable increases such as Brainhole Aurora (06681) rising by 10.35% to HKD 6.29 and Nanjing Panda Electronics (600775) increasing by 1.63% to HKD 4.36 [1] - A research team from the Chinese Academy of Sciences has completed three invasive BCI clinical trials in collaboration with hospitals and enterprises, achieving breakthroughs in real-life applications [1] Clinical Trial Highlights - In the second clinical trial, a high-level paraplegic patient was able to control a smart wheelchair and robotic dog using brain signals, demonstrating the potential for autonomous movement and object retrieval in real-life scenarios [1] Market Outlook - CITIC Securities believes that technological advancements in the midstream of the BCI industry are leading to breakthroughs in downstream applications, with significant milestones in medical fields such as motor recovery, communication, and hearing restoration [1] - National and regional policies are being introduced to accelerate industry development, including a recent announcement from the National Healthcare Security Administration to establish a separate pricing item for new BCI technologies, paving the way for clinical application service charges [1] - With technological innovations and policy support, domestic BCI companies are expected to gradually achieve commercialization [1]

Core Viewpoint - The brain-machine interface (BMI) sector is experiencing significant advancements, with recent clinical trials demonstrating practical applications that could lead to commercial opportunities in the healthcare industry [1] Industry Developments - The brain-machine concept stocks opened high, with notable increases in share prices: Brainhole Aurora (06681) up 10.35% to HKD 6.29 and Nanjing Panda Electronics (00553) up 1.63% to HKD 4.36 [1] - A research team from the Chinese Academy of Sciences has completed three invasive BMI clinical trials, achieving breakthroughs in real-life applications [1] Clinical Trial Achievements - In the second clinical trial, a high-level paraplegic patient was able to control a smart wheelchair and robotic dog using brain signals, demonstrating the potential for independent mobility and object retrieval in real-life scenarios [1] Market Outlook - CITIC Securities believes that technological advancements in the upstream BMI industry are leading to breakthroughs in downstream applications, particularly in rehabilitation, communication, and hearing restoration [1] - The Chinese government and various regions are implementing policies to accelerate the industry's development, including the National Healthcare Security Administration's recent decision to separately list pricing for new BMI technologies [1] - With technological innovations and policy support, domestic BMI companies are expected to gradually achieve commercial applications [1]

Summary of Key Points from Conference Call Records Industry and Company Overview - The conference call discusses the Chinese economy and its growth prospects during the "Fifteen" period, aiming to surpass 70% of the US GDP by 2026, with industrial added value reaching 1.6 times that of the US, driven by R&D investment and industrial system construction [1][3][5]. Core Insights and Arguments - **Economic Growth and Challenges**: The US faces increasing debt and fiscal deficit challenges, with a potential long-term economic growth rate of only 1.2%. Concerns over US debt security are prompting foreign investors to reduce US debt holdings, while central banks are increasing gold purchases [1][3]. - **Investment Opportunities**: The next five years will focus on industrial upgrades, technological innovation, and consumption enhancement. High R&D investment and a complete industrial system provide a solid foundation to counter external technological blockades [1][5]. - **Export Performance**: China's export share is at a record high, with reliance on the US dropping below 10%. This diversification strategy enhances export resilience and leads to a continuous trade surplus, indicating improved competitiveness [1][9]. - **Consumer Spending**: To address weak consumption, China aims to increase the resident consumption rate, optimize "two new" policies, and strengthen stimulus measures to support domestic demand [1][11]. Additional Important Content - **Financial Market Reforms**: The 2025 financial market reforms aim to shift fund management from scale-oriented to benefit-oriented, with a tighter IPO schedule and low levels of share reduction expected to continue into 2026 [2][14][17]. - **Investment Focus for 2026**: Key investment opportunities include high-growth export chains, cyclical stocks, and sectors benefiting from a consumption rebound, with a focus on retail sales and CPI indicators to validate trends [2][18]. - **Emerging Industries**: Significant attention is directed towards emerging industries such as quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, and brain-computer interfaces, which align with national strategic goals [1][10][19]. - **Domestic Economic Dynamics**: Enhancing domestic circulation's endogenous power and reliability through investment in both goods and human resources is crucial for sustainable economic growth [13]. This summary encapsulates the essential insights and projections from the conference call, highlighting the strategic focus areas for China's economic development and investment landscape.

Group 1: Transformer Industry - The U.S. market is experiencing a transformer shortage due to electricity constraints impacting AI computing power expansion, with delivery times for transformers increasing from 30-60 weeks to 115-130 weeks, and large transformers taking 2.3-4 years [1] - North America is projected to face a hard electricity capacity and energy shortfall by 2026/2027, necessitating accelerated power and grid construction, with transformer demand expected to grow at an annual rate of 30% [1] - Chinese transformer companies are positioned to fill the gap in North America due to their complete supply chain, cost advantages, and UL/CSA certifications, leading to significant growth in overseas orders for leading firms [1] Group 2: Brain-Computer Interface - A significant breakthrough has been achieved in the second invasive brain-computer interface clinical trial in China, enabling users to control devices with their thoughts at speeds comparable to typical smartphone and computer usage [2][3] - The brain-computer interface industry in China is expected to see substantial development by 2025, with a market size projected to exceed 5.5 billion yuan by 2027, and global medical applications potentially reaching $40 billion to $145 billion by 2030-2040 [3] Group 3: Edge AI - ByteDance's Volcano Engine is set to hold a major technology conference on December 18-19, showcasing new AI hardware and tools, which is expected to drive significant growth in the edge AI market [4] - The edge AI market in China is anticipated to grow from under 200 billion yuan in 2023 to over 1.9 trillion yuan by 2028, with an annual growth rate of 58% driven by hardware improvements, application expansion, and policy support [4] Group 4: Sodium Battery - CATL's sodium-ion battery is expected to begin mass production by December 2025, featuring a high energy density of 175 Wh/kg and a lifespan exceeding 10,000 cycles, marking a significant advancement in battery technology [5][6] - The sodium battery industry is transitioning from R&D to commercialization, with 2026 being a critical year for scaling production and shipments [6] Group 5: Aircraft Maintenance - The aircraft maintenance industry in Hainan is experiencing unprecedented growth due to the benefits of the free trade port policy, with maintenance capacity expected to reach around 700 aircraft annually [7] - Hainan's unique geographical advantages and policy incentives are attracting foreign airlines for aircraft maintenance, potentially saving them 10% to 15% in maintenance costs [7] Group 6: Emotional Interaction Robots - Sichuan's humanoid robot "AIQ," designed for emotional interaction, has been launched, utilizing advanced emotional computing technology to enhance human-robot communication [8] - The introduction of "AIQ" is expected to draw significant market attention due to its innovative approach to emotional interaction and communication [8] Group 7: Phosphate Fertilizer - A meeting organized by key agricultural associations in China emphasized the importance of maintaining high production rates of phosphate fertilizers to ensure supply stability and price control [9] - The rising sulfur prices have impacted the phosphate fertilizer market, with significant price increases observed in recent months [9] Group 8: Hard Disk Drives - The mechanical hard disk market is experiencing a price increase of approximately 4% in Q4, the largest rise in eight quarters, driven by renewed demand from the PC market [10] - The shift towards domestic CPUs and operating systems in China is boosting HDD installation demand as users seek reliable long-term data storage solutions [10] Group 9: Satellite Internet - The UK has approved a new regulatory framework for mobile satellite services, allowing mobile network operators to partner with satellite operators for direct satellite connectivity [11] - The satellite communication sector is transitioning from specialized equipment to mainstream applications, with significant potential in emergency services and outdoor operations [11]