Core Insights - The commercialization of brain-computer interfaces (BCIs) is steadily advancing, presenting vast market opportunities in China, where competition is still in its early stages with most companies being small and not yet in a saturated market [1] - Invasive BCIs have significant advantages in signal quality, while non-invasive BCIs offer high safety and ease of use, serving as a complement to invasive types [1] - The current focus of the industry is on the medical field, with potential future expansion into non-medical areas [1] Group 1: Global Developments - Neuralink, a global leader in BCIs, is expected to enter the commercialization phase by 2026, with 12 patients having successfully implanted devices as of September 2025 [2] - Neuralink plans to increase the number of electrodes in its devices to over 30,000 by 2028, aiming for comprehensive brain connectivity [2] - The company has outlined three core product lines: Telepathy for motor disabilities, Blindsight for visual impairments, and Deep for neurological disorders [2] Group 2: Competitive Barriers - Key competitive advantages for Neuralink include flexible electrode arrays, precise implantation robots, and low-power intracranial signal processing systems [3] - The development of a closed-loop technical system through interdisciplinary research and clinical collaboration is essential for domestic companies [3] Group 3: Industry Trends in China - National strategies are guiding the BCI industry, with policies expected to be released in 2025 to support development [4] - Clinical advancements are accelerating, with significant breakthroughs in invasive and semi-invasive BCI systems reported in 2025 [4] - The financing market for BCIs is thriving, with 24 financing events recorded in 2025, marking a 30% increase year-on-year [4] - The supporting industrial chain for BCIs is rapidly forming, with pilot implementations in medical and everyday scenarios [4]