Core Insights - The establishment of the Zhongguancun (Changping) Brain Science and Brain-Computer Interface Industrial Cluster marks a significant step in developing a new industrial landscape in Changping District, Beijing [1] Group 1: Industrial Development Strategy - The "One Core, One City" strategy aims to leverage the Zhongguancun Life Science Park's core role to accelerate enterprise incubation and result transformation, forming an industrial cluster [2] - The plan includes the construction of an International Medical Device City to facilitate industrialization and establish a high-end manufacturing base [2] - The Changping Brain Science and Brain-Computer Interface Innovation Partnership Program will enhance foundational research, technological breakthroughs, and integrated innovation [2] Group 2: Policy and Financial Support - Chang Development Group and Daoyuan Capital have launched a strategic fund to inject financial resources into the brain science and brain-computer interface industry [2] - The district has introduced the first action plan for the development of the brain science and brain-computer interface industry, along with supporting policy measures [3] Group 3: Advantages and Growth Potential - Beijing's policy framework, innovation research, and talent aggregation provide a strong foundation for the brain science and brain-computer interface industry [3] - By 2027, the industrial cluster is expected to reach a certain scale, with a goal of forming a new billion-level future industry cluster by 2030 [4] Group 4: Industry Ecosystem and Collaboration - The region has attracted key enterprises and established a comprehensive ecosystem involving research institutions and clinical practices [5][6] - Notable achievements include the successful transformation of "Beijing Brain No. 1" and the filling of a gap in high-performance invasive brain-computer interfaces with "Beijing Brain No. 2" [6]

Core Insights - Beijing is establishing a new industrial pattern for brain science and brain-computer interface (BCI) industries, with the unveiling of the Zhongguancun (Changping) BCI industrial cluster and park [1][2] - The Changping district is focusing on innovation-driven development, financial empowerment, and ecological construction to enhance the BCI industry [2][4] - By 2030, the goal is to create a new hundred-billion-level future industry cluster in the BCI sector [3][4] Group 1: Industrial Development - The Zhongguancun (Changping) BCI industrial cluster aims to leverage the core role of the Zhongguancun Life Science Park to accelerate enterprise incubation and result transformation [1][3] - The Changping district is initiating the BCI Innovation Partnership Plan to strengthen basic research, technological breakthroughs, and integrated innovation [2][4] - The district has already attracted 22 key BCI enterprises, indicating a growing industrial cluster effect [5] Group 2: Policy and Support Measures - Changping has introduced a comprehensive action plan and supporting policies for BCI industry development, focusing on technology innovation, enterprise cluster development, and industrial ecosystem construction [3][4] - The district plans to create a "park + investment + incubation + clinical" service system to support various innovation entities [4] - A strategic partnership has been formed between Chang Development Group and Daoyuan Capital to inject financial resources into the BCI industry [2][4] Group 3: Research and Clinical Applications - Changping is home to national-level research institutions and top medical facilities, providing a robust ecosystem for research and clinical applications in BCI technology [4][5] - The district has seen significant technological achievements, with two major BCI breakthroughs recognized at the 2025 Zhongguancun Forum [5] - The presence of over one million square meters of high-standard industrial space supports the full chain of research, pilot testing, and industrialization [4]

Core Viewpoint - The rapid development of brain science and brain-machine interface technology is becoming a significant direction for future industrial transformation, with Beijing's Changping District seizing this opportunity through the establishment of dedicated industrial zones and initiatives [1][4]. Group 1: Industrial Development Initiatives - The first brain science and brain-machine interface industrial cluster in Beijing, located in Changping, was officially launched, aiming to create a "one core, one city" industrial structure [3]. - The Changping District is leveraging the Changping Life Science Park's innovative resources to accelerate enterprise incubation and result transformation, fostering a rapid formation of industrial clusters [3]. - A strategic partnership has been formed between Chang Development Group and Daoyuan Capital to establish a fund for the development of the brain science and brain-machine interface industry, injecting financial resources into the sector [3][4]. Group 2: Future Goals and Plans - By 2027, the industrial cluster is expected to take shape, promoting the application of new technologies, products, and models across various scenarios [4]. - The goal is to fully establish the industrial cluster by 2030, enhancing innovation capabilities and overall strength to reach an international first-class level, aiming to form a new billion-level future industry cluster [4]. Group 3: Current Industry Landscape - Currently, 22 key enterprises in the brain-machine interface sector, including Xinzhida, Weiming Brain, and Walnut Medical, have settled in Changping, demonstrating increasing industrial clustering effects [6]. - Changping has been recognized for its significant contributions to the field, with two major technological achievements in brain-machine interfaces selected at the 2025 Zhongguancun Forum [6].

在"北脑一号"步入临床验证的同时，"北脑二号"系统也取得了实质性突破。相比"北脑一号"，"北脑二 号"最大的特点是将电极进一步植入大脑组织。目前，"北脑二号"正在进行高通量无线版本的产品研 发。 "脑机接口链路长，涉及电极、芯片、算法、软件、材料等多环节，在产业集群方面，昌平区具有很好 的优势。"北京芯智达神经技术有限公司研发总监张垒告诉记者，在研发过程中，昌平生命科学园周边 的企业为公司提供了动物实验、电子学、机械加工等方面的助力，方便开展各项合作。 类似芯智达这样的良好发展体验，来自于昌平区在医药健康产业领域积累的原始创新和资源集聚优势。 《昌平区医疗器械产业提升行动计划(2023-2025 年)》明确将脑机接口作为尖端产业，重点发力神经调 控等领域，加快推进脑认知基本原理解析、认知障碍及神经系统相关重大疾病、类脑计算与脑机智能等 基础前沿研究创新，打造全球脑科学应用领航者，有力引导形成各主体相互促进、加速技术迭代的良性 创新生态，为脑机接口赛道布局和区域产业长期规划奠定坚实基础。 今年1月，《加快北京市脑机接口创新发展行动方案（2025-2030年）》正式印发，推动脑机接口科技创 新与产业培育全链条加速 ...

Core Insights - The Beijing Brain Science and Brain-like Research Institute has developed innovative brain-machine interface systems, "Beijing Brain No. 1" and "Beijing Brain No. 2," which can collect and decode brainwave signals in real-time [1] - The brain-machine interface is positioned as a key future industry, with Changping District actively planning to establish a concentrated development area for this technology [1] Group 1: Clinical Developments - "Beijing Brain No. 1" has entered the clinical validation phase, with five patients undergoing implantation surgeries for conditions like spinal cord injury and stroke, showing positive outcomes [2] - The most notable case involved a patient paralyzed for five years who regained the ability to walk with assistance after using the brain-machine interface [2] - "Beijing Brain No. 2" has made significant advancements, featuring implanted electrodes in brain tissue to improve signal quality and information decoding [2] Group 2: Industry Development - Changping District is leveraging its advantages in the medical and health industry to create a concentrated area for brain-machine interface development, supported by local companies [3] - The district's "Action Plan for the Enhancement of the Medical Device Industry (2023-2025)" identifies brain-machine interfaces as a key focus area, particularly in neuro-regulation [3] - The "Accelerating the Innovation and Development Action Plan for Brain-Machine Interfaces (2025-2030)" aims to promote comprehensive breakthroughs in technology and industry cultivation [3]

Core Viewpoint - The brain-computer interface (BCI) industry is entering a period of accelerated development, with significant advancements in technology and increasing market opportunities driven by aging populations and supportive policies [1][6]. Product Development Acceleration - BCI technology facilitates information exchange between the brain and external devices, with applications in healthcare, rehabilitation, education, and entertainment [1]. - The medical sector is the most advanced in terms of commercialization, with a projected market size of approximately 71.46 billion yuan for rehabilitation medical devices in 2024 [2]. - Xiangyu Medical has launched five series of BCI products, including solutions for physical therapy, occupational therapy, swallowing and cognition, neuro-rehabilitation, and intelligent rehabilitation care [1][2]. Collaborative Development - Significant progress in underlying technologies such as microelectronics, materials science, and neuroscience has laid the foundation for breakthroughs in BCI [3]. - Xiangyu Medical aims to integrate BCI technology into various rehabilitation equipment, enhancing the application scenarios of their technology [3][4]. Continuous Innovation in Technology - The "Beinao No. 1" intelligent BCI system, developed in collaboration with the Beijing Brain Science and Brain-like Research Institute, is currently in clinical validation, helping patients with movement and speech disabilities [4]. - The integration of industry, academia, and research is accelerating the transformation of technological achievements into clinical rehabilitation products [4][5]. Favorable Policy Environment - Recent government policies, including the establishment of independent billing items for BCI, are providing institutional support for clinical applications [6]. - The BCI investment landscape is active, with over 800 million yuan expected in financing for the first half of 2025 across various subfields [6]. Market Growth Potential - The BCI market in China is projected to reach approximately 2.3 billion yuan in 2024, with expectations to exceed 10 billion yuan by 2029, reflecting a compound annual growth rate of over 35% [6][7]. - The industry is characterized by a high concentration of research and development in non-invasive BCI, which constitutes 86% of the market [6]. Future Trends - The BCI industry is expected to see increased collaboration across sectors, with companies evolving into open ecosystem platforms and more mergers and acquisitions occurring [7]. - Investment in the healthcare sector is anticipated to grow, supported by government funds and private capital, providing ample financial resources for industry development [7].

Group 1 - Brain-computer interface (BCI) technology is recognized as a strategic priority by multiple countries, highlighting its potential disruptive impact in the 21st century [1] - The global BCI market is currently in a critical phase of "technological breakthroughs, clinical validation, and commercial implementation" [2] - China has made significant strides in BCI technology, conducting its first invasive BCI clinical trial and becoming the second country to enter this phase [2][3] Group 2 - Various countries, especially developed nations, are accelerating their policy frameworks for BCI technology, with the U.S. government agencies like NIH investing in research and development [4] - Europe has established a strategic roadmap for neuroscience technology through initiatives like the "Human Brain Project" [4] - Countries such as Japan, South Korea, and Australia are also actively promoting their respective "brain plans" to advance BCI technology [4]

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry, specifically focusing on the brain-computer interface (BCI) sector [1]. Core Insights - The brain-computer interface is recognized as a "disruptive technology of the 21st century," with strategic significance highlighted by multiple countries prioritizing its development [3]. - The global BCI market is in a critical phase of "technological breakthroughs, clinical validation, and commercial implementation," with significant advancements in various countries [4]. - The potential market size for BCI applications in the medical field is estimated to reach between $40 billion and $145 billion by 2030-2040, with serious medical applications projected at $15 billion to $85 billion [5]. Summary by Sections Section 1: Global BCI Industry Development - The BCI industry has evolved from concept to commercialization over the past fifty years, with significant milestones in research and application phases [8][9]. Section 2: Industry Growth and Company Numbers - The global BCI market reached $1.98 billion in 2023, with over 500 representative companies worldwide, primarily concentrated in the US and China [10]. Section 3: National Strategic Planning - Various countries have released strategic plans to accelerate BCI development, with differing focuses based on regional priorities [14]. Section 4: US BCI Development and Policy - The US has a comprehensive policy framework supporting BCI development, with significant investments from agencies like NIH and DARPA [16][18]. Section 5: European "Human Brain Project" - The EU's "Human Brain Project" aims to simulate human brain functions and has established a roadmap for future research and ethical considerations [20][23]. Section 6: Initiatives in Japan, South Korea, and Australia - Japan, South Korea, and Australia have launched their respective brain initiatives to support BCI research and applications, focusing on various neurological diseases [24]. Section 7: China's Policy Support for BCI - China's BCI industry has seen rapid growth due to supportive policies, with significant investments and plans at both national and local levels [25][29].

Core Viewpoint - The recent implementation of the "Implementation Opinions on Promoting the Innovation and Development of the Brain-Computer Interface Industry" by seven departments, including the Ministry of Industry and Information Technology, aims to achieve breakthroughs in key technologies by 2027 and establish an advanced technological, industrial, and standard system for the brain-computer interface industry [1] Group 1: Industry Development - The brain-computer interface industry is currently in its early development stage in China, necessitating the cultivation of leading enterprises with strong resource integration and technological capabilities [1] - The establishment of a "tropical rainforest" innovation ecosystem is essential, comprising leading enterprises ("tall trees") and innovative SMEs ("bushes") to foster a multi-layered, symbiotic environment [1][2] Group 2: Technological Advancements - Notable advancements include the semi-invasive "Beijing Brain No. 1" and invasive "Beijing Brain No. 2" intelligent brain-computer systems developed by the Beijing Brain Science and Brain-like Research Institute in collaboration with Beijing Chip Intelligence Technology Co., Ltd., both achieving world-leading levels [2] - The first prospective clinical trial of an invasive brain-computer interface system in China was successfully completed in March 2025, marking a significant milestone in the field [2] Group 3: Policy and Capital Support - A series of supportive policies have been introduced at both national and local levels to create a favorable environment for the brain-computer interface industry, including measures for the approval of medical devices based on brain-computer interface technology [3] - The National Medical Insurance Administration has initiated a pricing project specifically for new brain-computer interface technologies, facilitating their entry into clinical applications [3] - Significant capital interest is evident, with Shanghai Ladder Medical Technology Co., Ltd. completing a record-breaking 350 million yuan Series B financing round in February, indicating growing investment in the sector [3]

Core Insights - The Ministry of Industry and Information Technology and six other departments have issued the "Implementation Opinions on Promoting the Innovation and Development of the Brain-Computer Interface Industry," aiming for breakthroughs in key technologies by 2027 and establishing an advanced technological, industrial, and standard system [1] Group 1: Industry Development - The issuance of the opinions is timely and aims to create a "tropical rainforest" innovation ecosystem for the brain-computer interface industry, facilitating the transition from laboratory exploration to industrialization [1] - The brain-computer interface field spans multiple advanced areas, including brain science, neuroengineering, microelectronics, artificial intelligence, and materials science, necessitating a collaborative ecosystem for comprehensive industry growth [1] Group 2: Key Players and Innovation - The development of leading enterprises, referred to as "tall trees," is essential for integrating resources and guiding the industry, with a focus on supporting major research institutions and leading companies in the brain-computer interface sector [2] - A number of promising companies and institutions are emerging, such as the Beijing Brain Science and Brain-like Research Institute and Beijing Chip Intelligence Neurotechnology Co., which have developed advanced brain-machine systems [2] Group 3: Policy and Capital Support - The ecosystem's prosperity relies on favorable "climatic conditions," with numerous policies introduced at both national and local levels to support the brain-computer interface industry [3] - Significant capital interest is growing in the brain-computer interface sector, exemplified by Shanghai Ladder Medical Technology Co. securing 350 million yuan in a Series B financing round, marking the highest single financing record in the domestic sector [3]