将投中网设为"星标⭐"，第一时间收获最新推送 脑机接口行业史上的第二大融资纪录。 作者丨 蒲凡 来源丨 投中网 我们的手指是怎么动起来的？ 乍看上去，这是个很傻的问题。无论我们是想挖鼻孔、挠痒痒、薅白头发，还是开车、看报、读书写字，再复杂的手指动作，准备工作也只有一个：动 动脑子。但对于科学家们而言，"动手指"却堪称人类未解之谜，因为人类的双手其实是世界上最精巧的机器，手部的每一寸肌肉和关节都拥有极大的活 动范围和精准度，确保每次发力能以最佳方式分散，仅手掌一个区域就有17000个触觉感受器和游离神经末梢。 另一方面，我们脑海中一闪而过的"念头"却是一个极其抽象的概念。人们虽然知道大脑通过神经元产生的电信号和化学信号，将"动一动"的想法传递给 手指。但人类在产生想法的过程中，"活跃"的脑区是不固定的。感觉皮层、前额叶皮层、边缘系统都有可能是发出指令的起点。更重要的是，人们的主 观意识仅仅是大脑决策的其中一个参考因素。在无意识状态下，大脑会通过视觉、听觉、味觉、嗅觉、触觉不断收集信息，同样做出动一动的决策，比 如闻到炸臭豆腐就下意识捂鼻子。 那么两套异常紧密的系统是如何衔接上的？具体是哪些信号精准地控制了我们的 ...

2026年，紧扣全球先进制造业基地建设目标，浙江产业生态的生长方式有哪些新信号？ (2026年浙江全省经信工作会议现场，图片由浙江省经信厅提供) 1月8日，2026年浙江全省经信工作会议在杭州召开。21世纪经济报道记者从现场获悉，浙江提出，2026年规上工业增加值增长 6%左右、数字经济核心产业增加值增长8%、制造业投资增长8%以上、规上工业企业研发费用占营收比重达3.25%左 右、"415X"集群营收突破10万亿元。 围绕传统焕新、新兴壮大、未来抢滩，一些政策信号也已明确。浙江2026年将实施规上工业企业研发能力提升行动，加快建设 制造业中试平台；完善"浙江制造"品牌体系；完善企业内生裂变支持体系；制定新材料、生物医药、农机装备、商业航天等产 业发展行动方案。 2026年，浙江将实施未来产业"星火计划"，在新技术中，人工智能仍是重大方向。浙江将推动人工智能、智能物联、集成电 路、高端软件等集群提能升级，加快发展AI计算机、AI手机、智能穿戴设备等人工智能终端。制造业单项冠军重回全国第一 科技创新、集群体系是浙江抓经信工作的两个明确重点。 浙江省经信厅党组书记、厅长詹敏在会上做了题为《一体推进"两新"深度融合 ...

Core Insights - The article discusses the long-term investment strategy of 37 Interactive Entertainment in hard technology sectors, emphasizing the extended timeframes for technology commercialization compared to gaming products [1][2][3] Investment Strategy - 37 Interactive Entertainment has made significant moves in the capital market, including investing up to 50 million yuan in the Diao Weihu Shan Fund to enhance its artificial intelligence industry chain [1] - The company's investment portfolio spans various cutting-edge technologies, including lithium niobate films, brain-computer interfaces, large models, XR glasses, and more, indicating a broad focus on foundational computing power and advanced technologies [1][3] Management Perspective - The management of 37 Interactive Entertainment, particularly Chairman Li Weiwei, has expressed a strong belief that AI is a core necessity for current success, transitioning from an optional trend to a mandatory component [2] - The company aims to deepen its integration of technology into entertainment, moving from a focus on hit games to establishing a standardized mechanism for stable revenue generation through technological empowerment [3][9] Industry Context - The article highlights a shift in the gaming industry from creative competition to technological advancement, necessitating companies to develop their own technological foundations rather than relying on external suppliers [9] - The investment strategy has evolved from a focus on gaming entertainment to a broader emphasis on hard technology and its integration with entertainment, driven by advancements in human-computer interaction [11]

Investment Rating - The investment rating for the computer industry is optimistic (maintained) [1] Core Insights - The brain-computer interface (BCI) market has significant potential, with global medical applications expected to reach $40 billion by 2030 and $145 billion by 2040 [5][36] - The technology is maturing, with companies like Neuralink receiving FDA approval for human trials, indicating a shift from concept to practical application [6][8] - Policy support is increasing, with various regions in China implementing plans to accelerate the commercialization of BCI technologies [7][45] Summary by Sections 1. Brain-Computer Interface: Continuous Breakthrough - BCI creates a communication channel between the brain and external devices, enabling direct information exchange [17] - The global BCI market was valued at $2.35 billion in 2023, with a projected CAGR of 16.55% from 2023 to 2033 [35] 2. Policy and Technology Resonance: Bright Commercial Prospects for BCI 2.1 Policy: BCI Medical Pricing Implementation Accelerates Commercialization - Major countries are investing in BCI research, with the U.S. and EU leading in funding and project initiatives [41][44] - China's government has issued multiple directives to guide BCI development, including the establishment of independent pricing for BCI services [45][46] 2.2 Technology: Positive Progress in Clinical Trials, Approaching Industrialization - The BCI system faces numerous technical barriers, particularly in balancing performance and commercial viability [48] - China's BCI sector is rapidly advancing, with increasing publications and patents in the field [51][52] 3. Beneficiary Companies 3.1 Neuralink: Pioneer in Invasive BCI Technology - Neuralink is leading in invasive BCI technology, having initiated human trials and planning further patient implants [55][66] 3.2 Strong Brain Technology: Leader in Non-Invasive BCI - Strong Brain Technology focuses on non-invasive BCI solutions, having developed multiple products and secured significant funding [67][69] 3.3 Rock Mountain Technology: Forward-Looking Layout of Brainwave Large Models - Rock Mountain Technology is developing brainwave large models to enhance human-computer interaction systems [80]

Core Viewpoint - The "2025 First Good Life Expo" aims to enhance consumer confidence and promote the globalization of Chinese brands through a comprehensive exhibition that integrates display, transaction, and communication [2][6]. Group 1: Event Overview - The expo covers an area of 15,000 square meters with six major exhibition halls and over 400 participating companies [2][23]. - Major e-commerce platforms such as Alibaba, JD.com, Pinduoduo, and Douyin e-commerce co-host the event, supported by various strategic partners and associations [2][6]. Group 2: Key Exhibitor Insights - Exhibitors shared their interpretations of "good life," emphasizing the importance of preserving traditional crafts and innovating within their industries [2][18][20]. - Notable speakers included Liu Fangxin from Tangshan Bone China, who highlighted the challenges faced by traditional industries, and Wang Yang from Meikosen Technology, who discussed the shift from manufacturing to innovation [18][19]. Group 3: Consumer Experience and Engagement - The expo features interactive sections, allowing consumers to engage with products and experience new consumption scenarios [23][24]. - Various sectors are represented, including specialty agricultural products, consumer electronics, beauty and personal care, and food and beverages [24][31]. Group 4: Technological Innovations - High-tech companies showcased cutting-edge products, such as humanoid robots and smart devices, enhancing the consumer experience [28][31]. - The event also included a focus on AI applications in agriculture, aiming to bring technological advancements to rural areas [22][20]. Group 5: Market Trends and Future Directions - The expo reflects a shift in consumer preferences towards smaller, more refined dining experiences, as noted by exhibitors like Ma Liu Ji [10][11]. - The emphasis on quality and innovation over quantity in restaurant expansion is a key takeaway from discussions with industry leaders [11][13].

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - The integration of multiple disciplines is leading to a technological explosion in brain-computer interface (BCI) systems, with China being a global leader in semi-invasive and non-invasive technologies [2][20] - The global BCI market is projected to grow from $2.62 billion in 2024 to approximately $12.4 billion by 2034, with a compound annual growth rate (CAGR) of 17.35% [2][45] - Various countries are accelerating their strategic layouts for BCI technology, with significant government support and policies in place to promote its development [2][40] Summary by Sections 1. Brain-Computer Interface: Multi-Disciplinary Integration and Technological Explosion - BCI systems involve a complex integration of neuroscience, signal processing, computer science, artificial intelligence, and electronic engineering [11] - BCI can be categorized into three types based on signal acquisition methods: invasive, semi-invasive, and non-invasive, with non-invasive methods being the mainstream choice due to their zero trauma and low cost [12][17] - The technology is in a rapid development phase, with significant advancements made since the concept was first introduced in the 1970s [18][20] 2. Accelerated Global Layout and Broad Commercial Applications - Countries like the US, EU, Japan, and South Korea are heavily investing in BCI technology, with the US committing $4.5 billion to its "Brain Initiative" [39][40] - China has also prioritized BCI in its national strategy, with various local governments implementing supportive policies to foster industry growth [41][42] - The BCI market is expected to see diverse applications, primarily in healthcare, but also in entertainment, smart homes, and military sectors [46][50] 3. Stock Selection and Industry Analysis - Key companies in the hardware sector include Hanwei Technology, Jiahe Intelligent, and Gaode Infrared, while application-focused companies include Zhongke Information, iFlytek, and Yingqu Technology [2] - The medical sector represents the largest share of BCI applications, with nearly 200 companies involved, of which 25% focus on invasive methods and 75% on non-invasive methods [50]

Group 1: Event Overview - The fifth China International Consumer Products Expo features over 1,700 consumer enterprises and more than 4,100 brands from 71 countries and regions, with eight major exhibition halls [3] - New exhibition areas for new consumer technology, artificial intelligence, and low-altitude economy have been established, focusing on cutting-edge technologies such as smart wearables, smart home devices, and intelligent connected vehicles [3] Group 2: Artificial Intelligence and Robotics - The AI exhibition area, particularly the robotics section, has become a focal point, attracting large crowds with demonstrations of various robotic capabilities [4] - China Mobile's quadruped robot, designed for companionship, features a display screen for dynamic expressions and a compartment for delivering medication, with a projected price of 20,000 to 30,000 yuan [5][7] - Strong Brain Technology showcased a bionic hand that can play the piano, integrating brain-computer interface technology and AI algorithms for rehabilitation purposes [7] Group 3: Automotive Innovations - The "vehicle-road-cloud integration" technology in the automotive sector has shown promising results, with real-time interaction between autonomous vehicles and cloud platforms being piloted in Hainan Province [8][10] - The AI smart intersection technology enhances vehicle adaptability and reduces traffic accidents, with a system latency of less than 0.1 seconds [10] - Consumer interest in automotive intelligence has significantly increased, with many attendees prioritizing advanced driving assistance systems [10] Group 4: Low-altitude Economy - The low-altitude economy has been highlighted as a significant topic, with flying cars expected to be delivered next year, primarily for scenic tourism applications [12][14] - Companies like EHang are collaborating with tourism firms to pilot island sightseeing routes, indicating a shift from professional to consumer applications in the low-altitude sector [14][16] Group 5: Globalization of Chinese Brands - Moutai Group reported overseas revenue exceeding 5.189 billion yuan in 2024, a year-on-year increase of 19.27%, emphasizing the importance of internationalization for consumer brands [16][18] - Luckin Coffee is expanding its international presence, with significant growth in Singapore and plans to enter other global markets [20] - The expo reflects China's openness and the clear path for Chinese brands to globalize, showcasing a blend of advanced technology and consumer goods [22]