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].