每经AI快讯，1月5日，沪指高开0.46%，深成指高开0.80%，创业板指高开0.84%，人脑工程、贵金属、 石油石化等板块指数涨幅居前。脑机接口概念表现活跃，创新医疗涨停，美好医疗、三博脑科20cm涨 停，倍益康、爱朋医疗、翔宇医疗涨超10%，博拓生物、伟思医疗跟涨。 （文章来源：每日经济新闻） ...

Satellite Internet - Blue Arrow Aerospace's IPO on the Sci-Tech Innovation Board has been accepted, aiming to raise 7.5 billion yuan, with a focus on reusable rockets [1] - Starlink announced it will provide free broadband service to the people of Venezuela for one month [3] Artificial Intelligence - Wall Street is seeing active IPOs and financing, with companies like Biran Technology experiencing a significant stock price increase, and Suiyuan Technology completing IPO guidance [4] - Google and Anthropic reported strong demand for TPU, while there are rumors of significant price increases for NVIDIA and AMD GPUs starting next month [4] Semiconductor - The Big Fund has increased its stake in SMIC H-shares, and TrendForce has revised upward its expectations for DRAM and NAND contract price increases in Q1 2026 [5] - TSMC has received U.S. permission to transport equipment to its Nanjing plant and plans to raise prices for advanced processes [6] Robotics - Reports suggest that Tesla's Optimus V3 mass production review has been completed, with seven Chinese companies as core suppliers, targeting a production capacity of 50,000 to 100,000 units by the end of the year [7] New Energy - Tianci Materials has released an annual forecast, confirming that Q4 performance is on track [9] Nuclear Fusion - The all-superconducting tokamak experiment has achieved significant physical breakthroughs, providing a basis for high-density operation [10] - The first nuclear fusion conference of the year will be held from January 16 to 17 in Hefei [11] Autonomous Driving - Tesla owners have achieved "full self-driving across the United States" for the first time [13] Digital Currency - State-owned banks will start paying interest on digital RMB real-name wallet balances at current account rates from January 1 [14] Market News - The New Year speech mentioned advancements in artificial intelligence, semiconductors, aerospace, and robotics across multiple sectors [15] - Companies are required to disclose annual performance forecasts by January 31 [16] - Market pricing clues for 2026 indicate sustained high growth, broad recovery, U.S. inflation, and Chinese domestic demand [17] Market Observation - On the last trading day before the holiday, the transaction volume reached 2.05 trillion yuan, with indices closing in the green but not reaching 4,000 points [18] - The satellite internet sector successfully crossed the year-end, with funds remaining in the market, and there is potential for healthy pullbacks to provide better entry opportunities [18]

Core Insights - The brain-computer interface (BCI) industry is entering a "golden development period," characterized by significant advancements from laboratory innovations to clinical applications [1][2][3] Group 1: Technological Advancements - In 2025, significant milestones were achieved in BCI technology, including the first clinical trials of flexible micro-invasive BCI systems and the first intervention-assisted trials for restoring limb function [2][3] - Three main technological routes are developing in parallel: invasive, semi-invasive, and non-invasive techniques, with invasive methods being central to medical rehabilitation due to their high signal acquisition precision [3][4] - The semi-invasive BCI system developed by Borui Kang Technology requires only a small hole in the skull for implantation, allowing patients to control movements through thought [4] Group 2: Clinical Applications and Breakthroughs - Clinical breakthroughs include the successful restoration of walking in patients with severe spinal cord injuries through innovative BCI technologies [3][4] - A variety of new BCI applications are emerging, such as a visual reconstruction system for visually impaired patients and a wireless, fully implanted BCI product that has completed its first clinical trial [10][11] Group 3: Industry Growth and Policy Support - The establishment of pricing regulations for BCI services by the National Medical Insurance Administration marks a significant step in integrating this technology into public healthcare [6][8] - Various regions, including Shanghai and the Guangdong-Hong Kong-Macau Greater Bay Area, are forming BCI innovation clusters to enhance industry capabilities and foster collaboration among enterprises, hospitals, and research institutions [7][8] Group 4: Future Prospects - Experts predict that 2026 will be a pivotal year for the BCI industry, with advancements in multi-disciplinary integration, clinical scalability, and diverse application scenarios [9][10] - The anticipated mass production of certain BCI devices will pave the way for a diversified application ecosystem, enhancing the potential for widespread commercial use [10][11]

Core Insights - The article highlights the rapid advancements in brain-computer interface (BCI) technology in China, showcasing significant clinical achievements and the emergence of a collaborative ecosystem for innovation in this field [1][5][10] Group 1: Clinical Breakthroughs - Patients with paralysis have shown remarkable recovery, such as playing games like "Snake" and "Mario Kart" through thought control, demonstrating the potential of BCI technology [1] - In 2025, several pioneering clinical trials were conducted, including the world's first intervention-assisted BCI for restoring limb function and the first clinical implantation of domestically developed BCI chips [2][3] - Invasive, semi-invasive, and non-invasive BCI technologies are developing concurrently, with invasive methods providing high signal accuracy and non-invasive methods expanding into broader markets due to lower costs [3][4] Group 2: Technological Advancements - The semi-invasive BCI system NEO has been developed, requiring only a small hole in the skull for implantation, allowing patients to control movements through thought [4] - Significant breakthroughs in core components and decoding algorithms have been achieved, enhancing the stability and precision of BCI devices [4] Group 3: Industry Development - The establishment of pricing regulations for BCI services by the National Medical Insurance Administration marks a significant step towards integrating this technology into healthcare [5] - A national BCI industrial cluster is forming, with various regions, including Shanghai and Jiangxi, actively promoting BCI innovation and development [6][7] Group 4: Future Prospects - Experts predict that 2026 will be a pivotal year for the BCI industry, characterized by multi-disciplinary integration and diverse application scenarios [8] - Recent innovations, such as a visual reconstruction system for visually impaired patients and a fully implanted wireless BCI, indicate a trend towards practical applications of BCI technology [9][10]

Key Points - The article emphasizes the importance of systematic and practical strategies in investment banking [2] - It discusses the positive economic outlook for early 2026, supported by improved PMI data and increased foreign capital inflow [8][9] - The article highlights the potential for a bull market in 2026, driven by improved supply-demand dynamics in the manufacturing sector and increased asset allocation towards equities [9] - It identifies key themes for investment in the spring, including AI, commercial aerospace, and nuclear fusion, as well as the impact of government policies on consumption and investment [9] - The valuation analysis of A-shares shows that various indices are at different historical percentiles, indicating potential investment opportunities in certain sectors [12][13] - The article notes significant adjustments in precious metals due to changes in margin requirements at CME and differing views within the Federal Reserve regarding interest rate cuts [14] - It discusses the launch of national venture capital guiding funds and the global competition for future industries, including quantum technology and hydrogen energy [21]

开源证券近日发布机械设备行业周报：近期，埃隆·马斯克在社交媒体表态，旗下Neuralink将在2026年 启动脑机接口设备大规模生产，并同步推进流程高度精简、几乎完全自动化的手术方案，最关键的突破 在于，设备中的电极丝将直接穿过硬脑膜，而无需将其切除。 投资建议 以下为研究报告摘要： 脑机接口行业正处于技术突破、政策支持、机器人生态协同预期等多重因素驱动下的高增蓄势期，根据 Precedence Research数据，预计到2034年全球脑机接口市场规模将增长到约124亿美元，2025-2034年 CAGR为17%。在近期Neuralink规模化量产预期和技术突破的催化下，A股脑机接口相关标的也有望受 益。 Neuralink计划2026年启动大规模生产，商业化进程提速 近期，埃隆·马斯克在社交媒体表态，旗下Neuralink将在2026年启动脑机接口设备大规模生产，并同步 推进流程高度精简、几乎完全自动化的手术方案，最关键的突破在于，设备中的电极丝将直接穿过硬脑 膜，而无需将其切除。这一方案有望避免传统侵入式设备的创伤性瓶颈，还可以通过自动化手术实现效 率与成本的双向优化。同时OpenAI首席执行官Sam ...

更多资料加入知识星球:水木调研纪要 关注公众号:水木纪要 脑机接口深度报告 20260104 摘要 Q&A 更多资料加入知识星球:水木调研纪要 关注公众号:水木纪要 接口的医保价格进行了单独立项,并有 11个省份跟进了相关费用的设定。7月 份,工信部联合七部门发布了《脑机接口推动产业创新发展实施意见》,在全国 范围内推广两步走的产业目标,并强调非侵入式产品在工业制造和安全生产中的 应用。10月28日,《十五规划建议》将脑机接口列为六大未来产业之一,并定 位为新的经济增长点。12月26日,国家药监局将植入式脑机接口器械纳入优先 审批高端医疗器械目录,这将加快相关产品的注册审批流程。 脑机接口全球市场规模如何测算? 我们对全球脑机接口市场规模进行了详细测算,将其划分为医疗和消费教育两大 类市场。目前医疗健康场景是主要关注点,包括运动功能障碍重建、语言功能障 碍重建、视觉障碍功能重建以及意识和认知障碍恢复等应用场景。在这些领域, 我们针对中风、癫痫、脊髓损伤、帕金森等疾病患者进行了渗透率假设。例如, 到 2030 年帕金森病领域渗透率预计可达 15%,到 2040 年整体渗透率可达到 15-20%。 消费教育领域虽 ...

Summary of the Conference Call on Brain-Computer Interface Technology Company and Industry Overview - The conference focused on Shanghai Aoyi Information Technology, which has been in the brain-computer interface (BCI) field for ten years, specializing in BCI and neural signal decoding technology, as well as core components for robotics [2][19]. Core Insights and Arguments - **Market Positioning**: Shanghai Aoyi is actively involved in medical applications of BCI technology, particularly for treating neurological diseases such as stroke. The company provides EEG machines for signal acquisition and analysis, and has developed smart prosthetic hands for amputees using non-invasive techniques [2][3]. - **Government Support**: The BCI technology has been recognized by the government as one of the six key industries for the future. Recent policy changes in cities like Shanghai and Beijing have included certain surgical procedures under medical insurance, which is expected to accelerate the application of BCI technology in healthcare [4][14]. - **Applications of BCI**: Current applications of BCI technology include treatment for neurological diseases (e.g., stroke, Alzheimer's, epilepsy), rehabilitation training, and human-computer interaction in industrial and military settings, as well as AR/VR entertainment [5][10]. - **Signal Acquisition Methods**: There are three main methods for acquiring neural signals: invasive, non-invasive, and peripheral electromyography. Invasive methods provide high-quality signals but come with significant risks, while non-invasive methods are safer but yield lower quality signals [6][7]. - **AI Integration**: AI plays a crucial role in optimizing signal processing in BCI technology, enhancing system accuracy and efficiency, and enabling real-time feedback and adjustments [20][21]. Additional Important Points - **Challenges in BCI**: The industry faces challenges related to effectiveness, safety, material science, and technical issues. Each surgical procedure requires follow-up to assess outcomes, and materials used must be soft yet removable to avoid damage to brain tissue [15][17]. - **Future Prospects**: The BCI industry is expected to see significant advancements by 2026, with several important certifications anticipated to facilitate the application of both implanted and non-implanted devices in medical settings [13][14]. - **Commercialization of Non-Invasive Devices**: Non-invasive devices, such as exoskeletons, are being developed and are expected to enter the market soon. However, high costs may limit their initial penetration, although prices are expected to decrease with technological advancements [16][29]. - **Collaboration with Redick**: Shanghai Aoyi is collaborating with Redick on advanced technologies, including AI algorithms and electric control systems, with plans for comprehensive cooperation in prosthetics, exoskeletons, and robotics [30]. This summary encapsulates the key points discussed during the conference, highlighting the advancements, challenges, and future outlook of the brain-computer interface industry and Shanghai Aoyi Information Technology's role within it.

机械设备 机械设备 2026 年 01 月 04 日 投资评级：看好（维持） 马斯克宏图的下一个篇章：脑机接口，2026 年将启 动大规模量产，有望解锁人机协同终极形态 ——行业周报 行业走势图 数据来源：聚源 -14% 0% 14% 29% 43% 58% 2025-01 2025-05 2025-09 机械设备 沪深300 相关研究报告 《技术进化的 2025，走向量产的 2026， 人形机器人"黄金十年"启幕—行业 点评报告》-2025.12.29 《"结构件"与"手套"：特斯拉 Optimus 机器人轻量化的"关键一环"—行业 点评报告》-2025.12.22 《人形机器人的"起跑时刻"，把握低 Neuralink 计划 2026 年启动大规模生产，商业化进程提速 近期，埃隆·马斯克在社交媒体表态，旗下 Neuralink 将在 2026 年启动脑机接口 设备大规模生产，并同步推进流程高度精简、几乎完全自动化的手术方案，最关 键的突破在于，设备中的电极丝将直接穿过硬脑膜，而无需将其切除。这一方案 有望避免传统侵入式设备的创伤性瓶颈，还可以通过自动化手术实现效率与成本 的双向优化。同时 OpenAI 首 ...

调研基本情况 2026年1月4日，熵基科技（股票代码：301330）以"反路演"形式接待了机构投资者调研，活动分为上午 10:00-12:00及下午15:00-16:00两个时段，地点为公司会议室及线上会议。天风证券（维权）、易方达基 金、西部利得基金、广发基金等4家机构参与了本次调研。公司副总经理兼董事会秘书郭艳波、投资总 监陈川、智能创新研究院院长仲崇亮、生物识别及脑机事业部负责人叶峰出席接待，就公司业务进展、 业绩规划及技术布局等问题与投资者进行了深入交流。 在非侵入式脑机业务的核心竞争力方面，公司强调，其脑机业务继承了在AI认知空间计算领域的长期 积累，聚焦BioCV TinyML边缘模型研发，将空间理解、自主决策与脑电信号处理深度融合。通过将感 知、分析与决策能力下沉至边缘设备，持续优化"人、车、物、环境"多要素协同下的脑机交互表现，为 非侵入式脑机接口的可穿戴化、场景化应用奠定技术基础。 核心调研要点解读 合作方神念科技优势：20年数据积累+跨领域团队+清晰商业路径 对于为何选择神念科技作为合作方，公司指出，神念科技在行业深耕20余年，积累了消费级场景下的稳 定数据，指标针对性强；其创始人及研发团 ...