Core Viewpoint - The Sichuan Provincial Economic and Information Technology Department and eight other departments have jointly issued the "Sichuan Province Brain-Computer Interface and Human-Machine Interaction Industry Breakthrough Action Plan (2025-2030)", aiming for significant breakthroughs in the industry chain by 2027 and the establishment of a basic industrial ecosystem [1] Industry Development - Brain-computer interface (BCI) technology integrates multiple disciplines, including neuroscience and computer science, enabling direct communication between the brain and external devices [2] - Favorable policies have been continuously implemented, propelling rapid development in China's BCI technology. In March, the National Medical Products Administration established a pricing standard system for BCI technology, covering 82 main items and 24 additional items [3] - Local governments, such as Beijing and Shanghai, have also introduced action plans to accelerate BCI innovation and development [3] Market Potential - The BCI technology is currently at a critical stage of clinical transformation, with non-invasive technologies like BCI helmets achieving initial commercialization, while invasive technologies face challenges such as biocompatibility and signal decoding precision [4] - According to a recent report, the global BCI market is expected to exceed $6 billion by 2028, with a compound annual growth rate of 25.22% over five years [4] Company Initiatives - Several listed companies are increasing their R&D investments in BCI technology, exploring applications in healthcare and entertainment. For instance, Henan Xiangyu Medical Equipment Co., Ltd. has developed a series of wireless EEG acquisition systems for rehabilitation applications [5] - Beijing Chengyitong Control Technology Group has established a dual-track strategy focusing on both invasive and non-invasive technologies, with recent breakthroughs in non-invasive rehabilitation devices [5][6] Challenges and Considerations - The complexity of BCI technology requires companies to invest substantial resources, facing uncertainties in technological breakthroughs and market acceptance [6] - Companies must consider market demand and innovate their business models while staying compliant with evolving policies and regulations in the rapidly developing BCI sector [6]

Group 1: Industry Overview - The smart manufacturing sector is experiencing a competitive landscape where international giants dominate the high-end market, while local companies seek differentiation [2][3] - The rehabilitation medical device industry faces short-term adjustment pressures but is transitioning towards quality-based competition due to stricter regulations and market purification mechanisms [3] Group 2: Financial Performance - In 2024, the company achieved a revenue of CNY 958 million, with a net profit attributable to shareholders of CNY 96.54 million [7] - Revenue from the smart manufacturing segment decreased by 21.85% year-on-year, while the rehabilitation medical segment saw a decline of 9.73% [16] Group 3: Strategic Initiatives - The company is focused on a "dual-wheel drive" strategy, enhancing its product matrix in smart manufacturing while expanding into emerging sectors like biomanufacturing and food [5][12] - In the rehabilitation medical field, the company aims to build a high-value product system and penetrate grassroots medical markets [5][12] Group 4: Product Development and Innovation - The company has established a dual-track strategy for brain-computer interface (BCI) development, focusing on both invasive and non-invasive technologies [10][11] - Three prototypes of rehabilitation devices integrating BCI technology were successfully launched in July 2024, with plans for market registration [8][9] Group 5: Market Challenges and Responses - The company faces challenges from reduced capital expenditure willingness among clients and structural demand fatigue, impacting order delivery cycles [16] - To mitigate these challenges, the company is tightening cash flow management and optimizing funding safety margins [16]