Industry Overview - The 2026 Brain-Computer Interface (BCI) Developer Conference will be held on February 3-4, 2026, in Tianjin, focusing on "technology open-source, ecological co-construction, and industrial landing" to promote the commercialization of BCI technology from laboratories to clinical and consumer applications [1] - The BCI industry is accelerating its transition from laboratory research to clinical and consumer applications, with policies supporting its development, including its inclusion in the "14th Five-Year Plan" and the establishment of independent billing items by the National Medical Insurance Administration by 2025 [1] - The global market for medical applications in the BCI sector is projected to reach $40 billion by 2030 and grow to $145 billion by 2040, according to McKinsey [1] Company Developments - Xiangyu Medical has made significant progress in BCI, establishing a comprehensive product matrix and five brain science laboratories, with two EEG machines expected to receive registration certificates by June 2025 [1] - Meihua Medical's cochlear implant business is a key application of BCI and represents one of the most successful technologies in clinical applications, with the company collaborating closely with downstream BCI clients to facilitate efficient commercialization from laboratory development to mass production [2]

新华财经北京1月27日电 （记者董雪）让瘫痪患者用"意念"控制电脑光标、轮椅、机器狗……过去一年 来，我国脑机接口技术迈入植入人脑的新阶段，密集涌现出一批突破性进展。 作为"十五五"规划建议锚定的六大未来产业之一，脑机接口技术旨在通过在脑与机器之间建立信息通 道，实现生物智能与机器智能的协同交互。截至目前，它与人脑的交互发展到了什么程度？怎样才能成 为规模化应用的成熟产品？未来能否给大众带来普惠？ "意念"控制电脑光标、轮椅 2025年12月，中国科学院脑科学与智能技术卓越创新中心联合复旦大学附属华山医院等单位，发布了脑 机接口临床试验的新进展：一位因颈髓损伤而四肢瘫痪的患者，仅凭"意念"控制，即可坐着电动轮椅在 小区里遛弯，也能指挥机器狗取外卖。 "这是我们的第二例前瞻性临床试验。之后的第三例前瞻性临床试验进一步拓展了脑机接口的功能，患 者能控制机械臂完成喝水、进食等动作。"中国科学院脑科学与智能技术卓越创新中心研究员赵郑拓 说。 此前，该团队在2025年6月发布第一例前瞻性临床试验，在脑机接口的帮助下，一位因高压电事故四肢 截肢的患者实现了"意念"控制电脑光标。 记者采访了解到，对于需要植入人脑的脑机接口 ...

Core Viewpoint - Changping District aims to become a vibrant destination for young people, combining historical significance with modern urban life, while establishing itself as a world-class scientific city and a hub for brain-machine industry development over the next five years [1] Group 1: Technological Innovation - Changping is a key area for Beijing's international innovation center, housing 41 universities, 64 central enterprise research institutes, and 66 national key laboratories, along with 58 academicians and 58,000 research talents [2][3] - The district plans to accelerate the construction of the Future University Science Park, covering 210,000 square meters, and establish a national technology transfer center for biomedicine [3] - The "One Park, Two Ports" strategy includes the Future University Science Park and collaborative projects with Tsinghua University and Peking University to enhance innovation and industry integration [3][4] Group 2: Industrial Development - Changping has developed three trillion-yuan industrial clusters in healthcare, advanced energy, and advanced manufacturing, with over 260,000 market entities and 41 listed companies [4][5] - The district aims to establish a distinctive brain-machine industry cluster by the end of the 14th Five-Year Plan, leveraging top research institutions and achieving significant clinical milestones [5] Group 3: Urban Development - Changping has implemented over 450 urban renewal projects, focusing on preserving cultural heritage while modernizing urban spaces, with notable projects like the Qinghua South Base and Grand Canal Heritage Park [6] - The district plans to create a historical cultural district in the old city, integrating modern design with historical landmarks [6] Group 4: Social Welfare - With a resident population of 2.27 million, including a high percentage of young people, Changping is focused on creating a youth-friendly city through comprehensive employment services and living support systems [8][9] - Initiatives include the "Rain Swallow Talent Housing Plan," providing nearly 10,000 public rental housing units, and expanding educational resources with 36 new schools and 30,000 new student placements [9][10] Group 5: Ecological and Cultural Tourism - Changping is developing a "Garden City" model, with a forest coverage rate of 49.46% and plans for a greenway system to enhance ecological connectivity [11][12] - The district aims to integrate ecological and cultural resources into tourism and agriculture, promoting new business models like rural tourism and leisure agriculture [12]

新华社北京1月27日电 题：植入人脑之后，脑机接口技术将如何改变我们的生活？ 此前，该团队在2025年6月发布第一例前瞻性临床试验，在脑机接口的帮助下，一位因高压电事故四肢 截肢的患者实现了"意念"控制电脑光标。 记者采访了解到，对于需要植入人脑的脑机接口医疗器械，有的需要穿透硬脑膜，直接接触或插入大脑 皮层，有的仅放置在硬脑膜外，也称为半侵入式。相比而言，前者能实现的功能更强，但技术和安全性 要求更高，后者的研究和应用进展则更快。 例如，2025年12月，一家脑机接口团队在上海举办的2025脑机接口大会上宣布，半侵入式脑机接口多中 心注册临床试验取得显著成果。试验历时78天，32位颈部脊髓受损患者在十余家医院接受脑机接口植入 手术，受试者能够凭"意念"控制气动手套，完成抓握等精细动作。 上海市医疗器械检验研究院有源器械检验一所副所长胡晟介绍，从功能上看，业界正在研发的侵入式脑 机接口主要聚焦在运动、语言等能力替代，精细神经调控以及视觉等感知觉重建领域。 新华社"新华视点"记者董雪 让瘫痪患者用"意念"控制电脑光标、轮椅、机器狗……过去一年来，我国脑机接口技术迈入植入人脑的 新阶段，密集涌现出一批突破性进展。 ...

Group 1 - Tianqi Co., Ltd. has entered the brain-computer interface (BCI) sector by investing in Suzhou Huahui Chip, focusing on high-density flexible neural electrode technology, achieving animal testing stages, and becoming a key player in domestic BCI hardware localization. The developed flexible neural electrode has 1024 channels, with signal acquisition precision and anti-interference capabilities at an internationally advanced level. The company has also completed biocompatibility surface modification technology to reduce inflammation after electrode implantation, with core patents authorized by the National Intellectual Property Administration [1][2][3] - Innovation Medical, through its subsidiary Boling Brain Machine, is one of the first companies in China to commercialize BCI rehabilitation products. The core product, Cyberlink AC5, was officially launched in October 2025, generating sales revenue of 114,000 yuan in 2025. Another product, Cyberlink AM5, has completed multi-center clinical trials and is progressing through the approval process. The company plans to establish five additional clinical cooperation centers to accelerate the application of BCI technology in treating neurological diseases [4][5][6] - iFlytek is a leading company in the non-invasive BCI field, leveraging its artificial intelligence technology to develop BCI collaborative technology. The company has established long-term partnerships with universities for research and development. Its non-invasive BCI system has been piloted in 120 schools nationwide, improving student attention by 30%. In the medical field, a collaboration with Beijing Tiantan Hospital has achieved a 92% accuracy rate in identifying abnormal brain signals for epilepsy [7][8][9] Group 2 - Jiahe Intelligent focuses on the research and mass production of BCI hardware, particularly EEG acquisition devices and core components, serving both consumer and medical-grade markets. The company has achieved large-scale production of EEG acquisition headphones with a signal recognition accuracy of 92%, primarily used in sleep monitoring and attention training. It plans to expand into overseas BCI hardware markets by 2026 [10][11][12] - Tom Cat is the first company in China to apply BCI technology in consumer scenarios, focusing on interactive games and rehabilitation training products. The company launched a mind-controlled game product in 2025, which quickly gained over 500,000 users. It also collaborates with rehabilitation institutions to develop BCI rehabilitation training systems, showing a 35% average improvement in patient motor function scores [13][14][15] - Hanwei Technology, through its subsidiary Weisheng Technology, is a leading company in the EEG sensor field, with an annual shipment of over 2 million units. The company has developed an epilepsy early warning system with an 88% accuracy rate in clinical tests. It also focuses on flexible pressure sensors for invasive BCI electrodes, addressing industry pain points [16][17][18] Group 3 - StarNet Ruijie leverages its network communication technology to develop low-power, high-stability EEG signal transmission systems and data encryption modules, becoming a core supplier for BCI data links. The developed transmission system supports real-time transmission of 1024-channel EEG signals with a latency of less than 10ms and a stability of 99.9% [19][20][21] - Yijiahe focuses on the integration of BCI and embodied intelligent robots, exploring applications in smart healthcare. The company has signed a strategic cooperation agreement to develop real-time emotional companionship and brain-controlled robots, enhancing the emotional care capabilities of robots [22][23][24] - Lihua Technology is focused on incubating and investing in the BCI sector, successfully incubating three high-tech companies in the field. The company collaborates with the Shenzhen Institute of Advanced Technology to provide comprehensive services for incubated companies, addressing development pain points [25][26][27] Group 4 - Sanbo Neurosurgery is a leading private hospital in the neurosurgery field, focusing on the clinical application and research of BCI. The company has successfully conducted an interventional BCI surgery, accumulating valuable experience for clinical applications. It is also recruiting participants for ongoing clinical trials [28][29][30] - Shiyun Circuit is a core enterprise in the PCB field, providing customized PCB products for BCI devices. The company focuses on high-density, flexible PCB designs, achieving low signal loss rates below 2% [31][32][33] - Meihua Medical is a leading supplier of core components for BCI, having entered the core supply chain for invasive BCI products. The company has developed components that have passed biocompatibility tests, ensuring long-term stability and safety for implanted devices [34][35][36]

Group 1: China's Top Ten Scientific Advances of 2025 - The "artificial sun" EAST achieved a world record of "one billion degrees for a thousand seconds" [1] - DeepSeek company introduced a new AI technology in China [1] - The construction of a thorium molten salt reactor marks a breakthrough in China's nuclear energy technology [1] - A liver cancer prediction system was featured on the cover of "Nature" magazine, serving a global audience [1] - The "North Brain No. 1" completed its first batch of wireless full-body implants [1] - A novel innovative target and candidate new drug for Parkinson's disease was discovered [1] - The superconducting quantum computing prototype "Zu Chongzhi No. 3" was unveiled [1] - Chinese scientists successfully developed a new hydrogen production technology [1] - Significant breakthroughs were made in the protection technology of black soil in the "Black Soil Granary" campaign [1] - Chinese scientists achieved new advancements in 6G wireless communication [1] Group 2: World's Top Ten Scientific Advances of 2025 - Brain-machine interfaces enabled patients to express emotions through speech and song, translating thoughts into language in real-time [2] - An integrated chip system combining electronics, photonics, and quantum technology was developed [2] - The largest black hole merger event ever detected challenges existing black hole formation models [2] - Scientists discovered the highest energy neutrino to date, which is 20 times more energetic than previous detections [2] - The first visible "time crystal" was created [2] - Transgenic pig organ transplants set a record for survival time [2] - Ground-based telescopes detected signals from the universe dating back 13 billion years [2] - The largest cosmic map to date was published [2] - The most detailed brain "map" was created, describing numerous neurons and their activities [2] - "Deep Thinking" announced that its artificial intelligence test scores reached the level of an international mathematics Olympiad gold medal [2]

Market Overview - The Hong Kong stock index opened slightly higher on January 27, with the Hang Seng Index rising by 0.36% to 26,863.15 points, the Hang Seng Tech Index increasing by 0.16% to 5,734.9 points, and the National Enterprises Index up by 0.28% to 9,173.2 points [1] - Major tech stocks mostly rose, with Alibaba up by 0.97%, Tencent Holdings up by 0.08%, and JD.com down by 0.17% [1] - Automotive stocks were active, with BYD rising by over 1%, while gold stocks saw some increases, with Zijin Mining up by over 4% [1] Company News - China Power (02380.HK) reported a total consolidated electricity sales volume of 10.73105 million MWh for December 2025, a decrease of 2.31% year-on-year, with an annual cumulative total of approximately 126 million MWh, down by 1.27% year-on-year [2] - Harbin Electric (01133.HK) expects a net profit attributable to shareholders of approximately RMB 2.65 billion for the fiscal year 2025, compared to RMB 1.686 billion in the previous year [2] - Singularity National Peak (01280.HK) has entered into a GPU distribution cooperation agreement with Muxi Co., aiming to enter the domestic AI computing power market [3] - East Sunshine Pharmaceutical (06887.HK) has signed a strategic cooperation agreement with Shenzhen Jingtai to establish a joint venture for an AI-driven drug research and development platform [4] - Weisheng Pharmaceutical-B (02561.HK) has received approval from the National Medical Products Administration for the marketing authorization application of injectable Long Pei growth hormone [5] - Kexin Pharmaceutical-B (02171.HK) issued a profit warning, expecting a net loss for 2025 to be reduced to no more than approximately RMB 120 million [6] - Zhenghong Pharmaceutical (01276.HK) has received a clinical trial approval notice for SHR-1049 injection [7] - Baolong Real Estate (01238.HK) has had its bond restructuring plan approved by the relevant bondholders' meeting [8] - Aobo Technology Holdings (08279.HK) has entered into a technical service agreement with Hong Kong Gold Trading Co., Ltd. [9] - Future Data Group (08229.HK) has signed a strategic cooperation framework agreement with Linghe Culture [10] - Haowei Group (00501.HK) plans to invest up to USD 50 million to subscribe for shares in Aixin Yuan Zhi's initial public offering [11] Institutional Insights - Huatai Securities noted that foreign and southbound capital continues to flow in, with public fund positions in Hong Kong stocks dropping to 23% in Q4, significantly reducing potential selling pressure [12] - Goldman Sachs has raised its year-end gold price forecast from USD 4,900 to USD 5,400 per ounce due to increasing demand from private investors and central banks [12] - CITIC Securities recommends focusing on cloud computing service providers and continuing to recommend AI computing power sectors and AI applications, highlighting the ongoing AI industrial revolution [12]

2026年开年，脑机接口领域无疑是全球科技界最耀眼的明星。1月1日，马斯克在X平台的一则推文点燃 了整个行业的热情：Neuralink将在2026年启动大规模量产。很快，排队等待植入的患者已突破万人大 关。 几乎在同一时间，中国也传来振奋人心的消息：非侵入式脑机接口领域"独角兽"强脑科技（杭州"六小 龙"之一）完成约20亿元重磅融资，创下全球该领域第二大融资纪录。上海、浙江、四川等地先后明确 脑机接口医疗服务价格，将这项前沿技术正式纳入医保体系。 高位截瘫患者用意念操控轮椅自由穿梭，渐冻症患者借助合成语音重新开口说话，消费级脑机接口产品 在2026 CES展上斩获创新大奖——这些曾经只存在于科幻电影中的场景，如今正以远超预期的速度成 为现实。 然而，在这场技术狂飙的背后，一系列深刻的伦理、法律和社会问题也随之浮现。当大脑可以被"读 取"、"写入"甚至"增强"，我们是否准备好了迎接一个全新的"人机共生"时代？当脑机接口技术突破医 疗边界，开始探索认知增强、记忆备份等前沿领域，我们又该如何定义"人类"的本质？ 一、何为脑机接口？ 展望未来，随着神经科学的持续深入发展，达到更高水平的研究阶段，并借助新一代人工智能技 ...

（来源：天津日报） 要撬动产业能级跃升，推动科技创新与产业创新深度融合。实验室团队驱动脑机接口科技成果应用转化 和新质生产力生成，组建场景概念验证中心，拓展脑机接口技术面向医疗健康、消费电子、军事航天等 领域的成果转化和产业示范，争建国家脑机接口技术创新中心，构建"研发中心—中试基地—产业转 化"协同创新体系，解决产业化落地难题。 转自：天津日报 要创新人才培养机制，探索教育科技人才一体化发展新路径。为带动脑机接口及相关行业尽快打通技术 链、补全人才链，天津大学及其合作单位在人才培养、科学研究等方面持续发力，于2024年开设了全国 首个脑机接口本科专业方向并正式招生，2025年新增设置"脑机接口"一级学科博士点，以推动我国脑机 接口领域自主创新与高水平人才培养体系建设。 科创兴城，向新而行。天津大学副校长、医学部主任，脑机交互与人机共融海河实验室（以下简称脑机 海河实验室）主任明东介绍，在由天津大学牵头建设的脑机海河实验室中，一条完整的"临床诊疗—技 术研发—产品注册—医保接入"闭环链路正在徐徐铺开，为科创天津增添澎湃动能。 明东表示，要厚植天津创新沃土，融入高水平科技自立自强的伟大实践。实验室团队坚持以市场 ...

Group 1: Core Technology Trends - The global technology wave is reshaping the economic landscape, with a shift from "what can be done" to "what should be done" in 2026, integrating social responsibility into technological development [2] - Artificial intelligence (AI) is the main driver of technological innovation, moving towards large-scale implementation and industrialization [2][3] - AI will transition from conceptual demonstrations to a phase of value realization, focusing on the integration of technology, industry, and governance [3] Group 2: Robotics and AI - Humanoid robots are entering a phase of large-scale trials, driven by breakthroughs in physical AI that allow robots to understand and interact with physical laws [4][5] - The development of humanoid robots will significantly change human-machine coexistence, requiring global collaboration and unified technical standards [5] Group 3: Commercial Space - The commercial space industry in China is poised for significant growth, transitioning from capability building to value creation, with a focus on reusable rockets and satellite networks [6][7] - 2026 is expected to be a pivotal year for the commercialization of space services, driven by advancements in satellite communication technology [7] Group 4: Future Transportation - Super high-speed rail, utilizing low vacuum tube technology, aims to achieve speeds over 1000 km/h, overcoming weather-related disruptions [8][9] - China is at the forefront of this technology, with significant engineering breakthroughs and ongoing trials [10] Group 5: Quantum Technology - Quantum technology is becoming a focal point for global research, with quantum error correction recognized as a key area for future advancements [11][12] - China is positioned in the leading tier of quantum communication and computing, with significant contributions expected from regions like Sichuan [12] Group 6: 6G Technology - The development of 6G technology is underway, promising speeds 10-100 times faster than 5G and enabling comprehensive coverage across air, land, and sea [13][14] - Sichuan is actively working on key technologies to accelerate the industrialization of 6G [15] Group 7: Controlled Nuclear Fusion - Research in controlled nuclear fusion is advancing towards engineering practice, with multiple countries exploring various technological routes [16][17] - China's strategic development in nuclear fusion is gaining momentum, supported by recent legislative frameworks [17] Group 8: Deep Space Exploration - Deep space exploration aims to expand human understanding of the universe, with significant global advancements in observational technology [18][19] - Sichuan is emerging as a key research hub for astronomy and deep space exploration, contributing to national strategic initiatives [19] Group 9: Brain-Computer Interfaces - Brain-computer interfaces are evolving to enhance human-machine interaction, with applications in healthcare and consumer technology [20][21] - Sichuan has developed a complete industry chain for brain-computer interfaces, with a market size of 1 billion yuan, entering a new phase of clinical application [22] Group 10: Biomedicine - The biomedicine sector is a critical area for innovation, integrating biotechnology with pharmaceuticals to drive high-quality development [23][24] - Sichuan is actively cultivating its biomedicine industry, focusing on various key and emerging sectors to enhance its competitive edge [24]