一场无声却激烈的"脑机战争"，已在实验室、手术室和资本市场上全面打响。这场战争的核心，是对人类终极交互入口的争夺，其意义或许不亚于互联 网的诞生。而中国，正以前所未有的战略决心，投身其中。 01 如何"读取"你的思想？ 国家医保局给出了一个冷静而精准的定义：脑机接口是在大脑与外部设备之间建立直接连接的通路。 侵入式则需通过开颅手术将电极阵列直接植入大脑皮层灰质，这样可以获得高质量的神经信号，但存在显著临床风险和成本；此外，由于异物侵入，可 能会引发免疫反应和愈伤组织（疤痕组织）及手术并发症，导致电极信号质量衰退甚至是消失。 BCI正被寄予在医疗康复、辅助交流、智能控制、脑功能评估等场景中实现"突破性革命"的期望。同时作为神经科学/脑科学、计算机技术人工智能、人 机交互等多学科交叉融合的前沿领域，其近年来从研究到产业转化均受到高度重视。 02 资料来源：伏云发等《脑机接口（BCI）的技术成熟度与泡沫风险分析：从研究到产业转化的考量》 战略升维：从前沿探索到国家产业竞赛 2025年，是中国脑机接口产业的"战略清晰年"。 7月，工信部等七部门联合印发《关于推动脑机接口产业创新发展的实施意见》，设定了明确的产业冲锋号 ...

Core Insights - Shenzhen Ganyin Technology Co., Ltd. has gained significant attention and sales success at recent exhibitions, achieving over 100,000 yuan in total sales during the High-Tech Fair [1] - The company has developed innovative products that integrate digital technology with music, aiming to lower the barriers to music performance through its "simplified music performance technology" [2] - The smart musical instrument market in China is projected to grow from approximately 2 billion yuan in 2023 to over 3 billion yuan by 2025, with a compound annual growth rate exceeding 25% [3] Company Overview - Founded in March 2021, Ganyin Technology has rapidly progressed in team building, supplier sourcing, and production due to Shenzhen's favorable entrepreneurial environment [1] - The company focuses on the research, development, production, and sales of smart hardware and courses, including products like the Ganyin Stick and Air Drum [2] Market Potential - The company aims to capture 10% of the Chinese smart musical instrument market within the next three years, driven by the appeal of its technologically advanced products [3] - Ganyin Technology has initiated a new financing round seeking 20 million yuan, with a post-investment valuation of approximately 200 million yuan, indicating strong market confidence [3] - The company is expanding its market reach globally, with some products already listed on Amazon's North American platform [3]

Core Viewpoint - The company, Entropy Technology (301330.SZ), is focused on advancing brain-computer interaction technology through its subsidiary, Entropy Cloud Brain Technology, in the fields of multimodal BioCV and AIoT [1] Group 1: Technology and Innovation - The company has developed an integrated ecosystem of "hardware + software + services" in the areas of iris recognition, eye tracking, and EEG analysis algorithms [1] - At a global conference in Thailand, the company showcased a product matrix of brain-machine innovation, including brain rings, brain-controlled drones, EEG safety helmets, and attention enhancement systems [1] - These innovations provide mature hardware carriers and service capabilities for the practical application of technology [1]

Core Viewpoint - Entropy Technology (301330) is actively pursuing strategic acquisitions and expanding its brain-computer interface (BCI) technology, focusing on education, healthcare, and elderly care applications, while maintaining a strong cash flow and exploring further investment opportunities [2][3][4]. Group 1: Acquisition and Financial Performance - Entropy Technology signed a "Letter of Intent" with Longzhiyuan on October 17, 2025, to acquire a 55% stake, with completion expected by the end of November [2]. - For the first three quarters of 2025, the company reported a main revenue of 1.401 billion yuan, a year-on-year decrease of 0.68%, while net profit attributable to shareholders increased by 6.24% to 128 million yuan [7]. Group 2: Brain-Computer Interface Development - The company is focusing on BCI technology in three core application areas: education, healthcare, and elderly care, utilizing multi-modal data fusion technology for product development [3]. - A prototype for the BCI business is expected to be launched by March 2026, and a strategic partnership with NeuroSky has been established to enhance BCI and multi-modal biometric technology integration [3]. Group 3: Market Position and Strategy - The BCI business overlaps with existing clients in healthcare and education, while also targeting new customer segments in consumer electronics, industry, and research [5]. - The company emphasizes a dual strategy of organic growth and external development, with the acquisition of Longzhiyuan being its first since going public [4].

Company Overview - Entropy Technology Co., Ltd. was established in 2007, focusing on cognitive-driven intelligent space evolution as a global leader in AI services [2] - The company utilizes multi-modal BioCV (computer vision and biometrics) and cognitive space computing technology to create a comprehensive perception system, transitioning from static management to autonomous decision-making and evolution [2] Strategic Areas - The company is deeply engaged in four strategic areas: smart space, smart office, digital identity authentication, and smart business, providing AI-enabled integrated solutions [2] - The acquisition of a 55% stake in Longzhiyuan is expected to broaden the company's smart living business into outdoor areas, enhancing the product array in smart outdoor scenarios [2][3] Brain-Computer Interface (BCI) Development - The company is focusing on three core application scenarios for BCI technology: education, healthcare, and elderly care, leveraging AI-driven multi-modal data fusion technology [4] - A prototype for the BCI business is expected to be launched by March 2026, with a strategic partnership established with NeuroSky to enhance BCI technology integration [4] Financial Strategy - The company maintains a dual strategy of organic growth and external development, with the acquisition of Longzhiyuan being the first since its listing [5] - Future investments or acquisitions will be pursued to enhance company value [5] Customer Overlap and Market Expansion - The BCI business overlaps with existing clients primarily in the healthcare and education sectors, while also targeting new customer groups in consumer electronics, industry, and research [6] - The company has established a comprehensive ecosystem in multi-modal BioCV and AIoT, showcasing innovative BCI products at global events [7]

Core Insights - Entropy Technology (301330) has announced a strategic partnership with NeuroSky to establish a joint venture focused on integrating "chip + emotion cloud + industrial ecosystem" in the field of brain-computer interfaces and multimodal biometric recognition [1][2] - The collaboration aims to leverage both companies' technological strengths in multimodal BioCV, AI cognition, and brain-computer interface technologies, creating a complete innovation chain from core chips to algorithm platforms and application scenarios [1][2] Company Overview - NeuroSky is a leading player in the non-invasive brain-computer interface chip market, holding a significant market share and achieving breakthroughs in consumer-grade brainwave monitoring [1] - The company has developed the TGAM series dry electrode brainwave chips, which facilitate "plug-and-play" brainwave detection, lowering the barriers to brain-computer interface technology [1] - NeuroSky's innovations include the world's smallest electrocardiogram sensor, enabling widespread applications in emotion, fatigue, and sleep monitoring [1] Product Development - Entropy Technology has been focusing on multimodal BioCV and AIoT, creating an integrated ecosystem of "hardware + software + services" through its subsidiary, Entropy Brain Technology [2] - Recent product launches include brain rings, brain-controlled drones, brainwave safety helmets, and attention enhancement systems, providing mature hardware and service capabilities for technology implementation [2] Innovation Focus - The partnership will concentrate on two main areas: developing next-generation edge brain-computer interface algorithm chips that integrate various emotional and behavioral algorithms, and advancing mixed biometric recognition and brain signal collaborative analysis [2] - The emotional recognition capabilities will cover three core dimensions: optimistic emotions, negative emotions, and behavioral emotions, enabling detailed identification of fatigue, anxiety, stress, relaxation, happiness, alertness, and empathy [2] Vision and Goals - The chairman of Entropy Technology emphasized the company's commitment to a harmonious coexistence of technology and humanity, aiming to create a new era of emotional perception intelligence through the collaboration with NeuroSky [2] - NeuroSky's CEO highlighted the alignment of both companies' missions to promote the widespread application of brain-computer interface technology, aiming to enhance user experiences in safety management, health, and productivity [2]