Core Insights - Strong Brain Technology has reportedly submitted a confidential IPO application to the Hong Kong Stock Exchange, positioning itself as the first technology-based public company in China's brain-computer interface (BCI) sector [1][3] - The company recently completed approximately 2 billion yuan in Pre-IPO financing, achieving a post-investment valuation exceeding 1.3 billion USD [1][3] - The global brain-computer interface market is projected to grow from 1.2 billion USD in 2019 to nearly 2 billion USD in 2023, with a compound annual growth rate (CAGR) exceeding 13% [6] Company Developments - Strong Brain Technology aims to assist 1 million physically disabled individuals by providing neural-controlled prosthetics and improve the lives of 10 million patients suffering from brain-related disorders over the next five to ten years [3] - The company is focused on non-invasive solutions, developing super sensors to detect human neural signals, differentiating itself from competitors like Neuralink [3] - In 2025, the company plans to accelerate its technology innovation and industrialization processes, launching a new generation of bionic dexterous hands for smart manufacturing applications [4] Market Trends - The brain-computer interface sector has been included in China's "14th Five-Year Plan" as one of the six future industries, indicating its transition from laboratory research to a national strategic focus [6] - Following the announcement of BCI-related developments, several companies in the sector, such as Innovation Medical and Rock Mountain Technology, experienced significant stock price movements, highlighting market sensitivity to BCI concepts [6][7] - The capital market's reaction has been mixed, with some companies facing scrutiny from regulatory bodies regarding their BCI-related announcements [6][7]

Core Viewpoint - The Chinese government is focusing on stabilizing economic growth and expanding domestic demand in 2026, marking the beginning of the "14th Five-Year Plan" period, with key policies aimed at supporting technological innovation and stabilizing the real estate and stock markets [1] Group 1: Economic Policy Signals - Key ministries, including the National Development and Reform Commission, Ministry of Finance, and others, have released four major policy signals for 2026: stabilizing growth, expanding domestic demand, supporting technological innovation, and stabilizing the real estate and stock markets [1] - The year 2026 is seen as crucial for achieving a good start to the "14th Five-Year Plan" [1] Group 2: Investment in Emerging Industries - The National Venture Capital Guidance Fund is set to officially operate by December 26, 2025, with an expected investment scale exceeding 1 trillion yuan, focusing on "hard technology" sectors such as integrated circuits, quantum technology, biomedicine, brain-computer interfaces, and aerospace [1] - The Ministry of Industry and Information Technology plans to implement actions to develop and strengthen emerging industries, targeting key areas like integrated circuits, new displays, new materials, aerospace, low-altitude economy, and biomedicine [1] Group 3: Artificial Intelligence Initiatives - The Beijing Municipal Development and Reform Commission has announced an action plan for building an artificial intelligence innovation hub, aiming to add over 10 listed companies and more than 20 unicorns in the AI sector within two years [1]

每经记者｜杨欢 每经编辑｜刘艳美 据文汇报消息，1月13日，国内植入式柔性脑机接口领军企业上海脑虎科技有限公司的"超级工厂"项目在江西省赣江新区正式动 工，预计于2026年下半年建成并投入运营。这标志着我国在这一前沿科技领域从实验室向规模化量产迈出了关键一步。 上海脑虎科技有限公司成立于2021年，是目前全球唯一同时拥有实时汉语及运动解码技术的脑机接口企业，目前已完成了从柔 性电极、脑电芯片、植入体、手术机器人到脑机操作系统的全链条自主研发，是除了埃隆·马斯克的美国神经联接公司 （Neuralink）以外，国内首家、国际第二家有脑机接口全链条量产能力的企业。此前，脑虎研发的国内首款、全球第二款"全植 入、全无线、全功能"脑机接口已成功完成首例临床试验，计划于今年开展多中心临床研究。 解读：2025年被称为"脑机接口元年"。工业和信息化部等七部委联合印发《关于推动脑机接口产业创新发展的实施意见》，在 国家层面首次系统性规划脑机接口产业发展路径。此后在国家"十五五"规划建议中也提出，前瞻布局未来产业，将"脑机接 口"列为新的经济增长点之一。 从地方政策来看，早在2023年，脑机接口就被纳入江西省未来产业规划；20 ...

"超级工厂"之所以落地江西，除了当地较低的人力与土地成本、丰富的原材料资源外，也得益于其集成 电路、医疗器械、生物医药等完善的制造业体系——如吉安合力泰（002217）的精密传感器、赣州同兴 达（002845）的嵌入式系统、南昌晶能光电的光电子器件等，为脑机接口设备提供了关键配套支持。 江西地处长江中下游，与长三角地区相邻，是长三角一体化发展的腹地。此前江西就曾提出，要促进更 多科技成果在江西转化落地。最新公布的江西"十五五"规划建议还提出，主动对接和服务长三角一体化 发展，搭建跨区域产业转移合作平台，健全利益共享机制。 以此次脑虎科技"超级工厂"为例，作为"强磁核"，其将联动上下游供应链企业，在赣江新区打造覆盖核 心部件、研发服务与临床应用的完整产业矩阵，加速形成具有全球竞争力的脑机接口产业集群。 从地方政策来看，早在2023年，脑机接口就被纳入江西省未来产业规划；2025年11月，《江西省加快脑 机接口技术和产业发展若干措施》出台，提出了11条具体举措，要拥抱这个"超级风口"，抢抓未来产业 机遇。 从企业落地来看，江西的布局还可以继续倒推——2019年，国内侵入式脑机接口领域尚处冷门时，时任 中国科学院上 ...

证券日报网讯 1月13日，优刻得在互动平台回答投资者提问时表示，脑虎科技既是公司的客户，也是公 司多年来共同成长的战略合作伙伴。自2022年起，优刻得与脑虎科技就建立了战略合作关系，共同推进 脑电数据的云端化处理。2023年，优刻得与脑虎科技、复旦大学附属华山医院共同入选上海市未来产业 脑机接口专家委员会成员单位，充分发挥在云计算、大数据、人工智能领域的先进优势，共同探索脑机 接口技术在医疗康复领域的应用。2024年以来，优刻得与脑虎科技进一步深化合作，共同参与了上海市 脑机接口领域的重大科研项目申报。双方联手研发"植入式言语合成脑机接口产品"，旨在帮助失语患者 恢复部分语言功能。目前，借助优刻得的高性能算力与可靠的数据存储能力，脑虎科技已成功搭建了 GPU算力平台和语料数据管理系统。云计算是AI时代重要的基础设施，作为国内领先的中立第三方云 计算服务商，优刻得一方面将智能算力高效、精准地提供给千行百业的企业客户，另一方面充分发挥自 身算力运营优势和技术研发能力，与部分前沿行业的重点客户开展多维度合作，共同探索AI应用场景 和商业闭环路径，努力推动AI解决实际问题、创造经济价值。 （编辑 丛可心） ...

Group 1 - Strong Brain Technology has submitted a confidential IPO application to the Hong Kong Stock Exchange, with expectations that its listing is only a matter of time [2] - The company recently completed approximately 2 billion yuan in Pre-IPO financing, achieving a post-investment valuation of over 1.3 billion USD [2] - The global brain-computer interface (BCI) market is experiencing significant growth, with a compound annual growth rate (CAGR) of over 13% from 2019 to 2023, and is projected to reach 7.63 billion USD by 2029 [4] Group 2 - The funds raised from the recent financing will be used to accelerate core technology research and development, extreme engineering breakthroughs, and product scaling [3] - Strong Brain Technology aims to help 1 million physically disabled individuals regain daily life through neural-controlled prosthetics and improve the conditions of 10 million patients suffering from brain-related disorders [3] - The company differentiates itself from competitors like Neuralink by focusing on non-invasive solutions and developing super sensors to detect human neural signals [4] Group 3 - The Chinese government has included brain-computer interfaces in its national strategic planning, indicating a shift from laboratory research to a national priority [4] - The stock market has reacted to the BCI concept, with companies like Innovation Medical and Rock Mountain Technology experiencing consecutive trading gains [4] - Recent inquiries from the Shanghai Stock Exchange regarding partnerships in the BCI space highlight the regulatory scrutiny and market interest surrounding this technology [5]

文 | 中关村储能产业技术联盟 1 月 12 日 ， 国 家 发 展 改 革 委 等 部 门 关 于 印 发 《 关 于 加 强 政 府 投 资 基 金 布 局 规 划 和 投 向 指 导 的 工 作 办 法 ( 试 行 ) 》 （ 以 下 简 称 《 工 作 办 法》）的通知发布。国家发展改革委相关负责人表示， 这是首次在国家层面对政府投资基金的布局和投向作出系统规范。 政府投资基金 是各级政府通过预算安排，单独出资或与社会资本共同出资设立，采用股权投资等市场化方式，引导各类社会资本支持相关产 业和领域发展及创新创业的投资基金，在服务国家战略、推动产业升级、促进创新创业等方面发挥了积极作用。 国家发展改革委同步制定了《政府投资基金投向评价管理办法(试行)》（以下简称《评价管理办法》）。其中提到， 支持的投 向领域 包括： （一）培育新兴产业、未来产业。 新兴产业主要包括新一代 信息技术、新能源、新材料、高端装备、新能源汽车、绿色环 保、民用 航空和船舶与海洋工程装备等领域； 未来产业 主要包括 元宇宙、脑机接口、量子信息、人形机器人、生成式人工智能、 生物制造、 生物育种、未来显示、未来网络、 新型储能 等 ...

本文仅为作者个人观点，不代表私募工场(Funds-Works)立场。股市有风险，投资需谨慎。本号所刊全 部内容和信息均不构成投资建议，据此操作风险自担。#私募基金 #世界经济 #巴菲特 #大国经济 #网络 热点 #中美关系 #小说连载#国际经济 前言 1月8日，马斯克在社交平台确认了年产万艘星舰飞船的造梦神话，回顾老马这一路，巅峰时刻真是数不 胜数。从Neuralink让瘫痪者用意念交流，到Optimus机器人腿部与脑机接口结合，赋予残疾人超人般的 奔跑能力；从X AI豪取200亿美元融资并宣布2026年第一季度发布万亿参数Grok5，到Space X的星链与 星舰持续重塑太空经济，马斯克不断地挑战着人类的极限。 旗下的六大前沿产业——商业航天（Space X）、脑机接口（Neuralink）、人形机器人（Optimus）、自 动驾驶（FSD）、人工智能（X AI）乃至超级高铁（The Boring Company），正以前所未有的速度收 敛、融合，形成一个完整的马斯克科技生态链。 其技术迭代与量产推进，不仅重塑全球科技产业格局，更给国内相关赛道上市公司带来确定性投资机 遇。 本系列将聚焦六大核心赛道，通过梳 ...

日前，有媒体报道称，"杭州六小龙"之一的强脑科技完成约20亿元融资，在脑机接口领域创下除神经连接 （Neuralink，埃隆·马斯克旗下公司）外的全球第二大融资纪录。据悉，投资人阵容强大，包括著名投资 机构IDG、由英特尔CEO陈立武创立的华登国际，"果链"巨头蓝思科技、领益智造，战略投资方韦尔股 份、润泽科技、华住集团、好未来集团，也有中国香港、美国顶级家办等。 1月8日，强脑科技表示："确实完成融资，相关细节请以公司正式发布的信息为准。募集资金将用于全力 加速脑机接口核心技术研发、极限工程突破、产品规模化、量产落地。" 据介绍，强脑科技与DeepSeek，宇树科技，黑神话悟空等科技企业并称为"杭州六小龙"，专注脑机接口 领域产品研发，目前已经获得美国FDA认证，欧洲CE认证，为世界脑机接口领域的研发投入最大的企业之 一，产品曾获《时代》周刊，年度最佳发明，是全球极其少数实现脑机接口产品规模性量产的企业。 此前，据彭博社消息，强脑科技可能在香港或中国内地进行首次公开募股（IPO）。知情人士表示，这家 初创公司已开始准备上市文件，但尚未确定上市地点或其他细节。有关融资和IPO的讨论仍充满变数中， 具体细节可能 ...

Core Viewpoint - Qiangnao Technology is reportedly preparing for an IPO in Hong Kong, aiming to raise a significant amount of capital, following a recent financing round that set a record in the brain-computer interface sector, second only to Neuralink [1][10]. Company Overview - Qiangnao Technology is recognized as China's first unicorn in the brain-computer interface space, focusing on enabling users to control machines through thought [11][12]. - The company adopts a non-invasive approach, contrasting with Neuralink's invasive method, which involves surgical implantation of chips in the brain [12][22]. Financial Projections - Following a recent financing round, Qiangnao's valuation exceeded $1.3 billion (approximately 9.2 billion RMB), with analysts estimating a potential market capitalization of 100 billion RMB upon IPO, and possibly reaching 200-300 billion RMB under high demand [3][13]. - Revenue projections for 2025 suggest Qiangnao could surpass 800 million RMB, with a net profit of approximately 120 million RMB, indicating a year-on-year growth rate exceeding 100% [3][13]. Founder Background - The founder, Han Bicheng, is a 1987-born entrepreneur from Heilongjiang, who studied at the Korea Advanced Institute of Science and Technology and later pursued a PhD at Harvard University [14][17]. - Han's early experiences in a medical research center influenced his vision of redefining human interaction with technology through brain-computer interfaces [15][18]. Market Position and Competition - Qiangnao Technology and Neuralink are the two highest-funded companies in the global brain-computer interface sector, representing distinct technological paths and commercialization strategies [9][22]. - The company is positioned to potentially become the first among the "Hangzhou Six" to go public, leveraging a shorter review process in Hong Kong compared to A-share listings [21][22]. Vision and Future Outlook - Qiangnao has articulated a vision for brain-computer interface technology to become as transformative as electricity in the modern era, suggesting it could revolutionize various industries once fully developed [22].