Investment Rating - The industry investment rating is "Positive" (maintained) [3][6] Core Insights - Recent policies from seven departments in China are aimed at stimulating the brain-computer interface (BCI) industry, encouraging commercialization through local incentives and medical insurance integration [2][4] - The overall goal is to achieve breakthroughs in key technologies by 2027, establish advanced technical, industrial, and standard systems, and significantly enhance innovation capabilities by 2030, fostering globally influential leading enterprises [4] - The report suggests actively monitoring companies within the BCI industry chain, including both upstream hardware/software and downstream medical solution providers [2][4] Summary by Sections Investment Suggestions - Companies to watch in the upstream hardware/software sector include: Entropy Technology, iFlytek, Yanshan Technology, Zhongke Information, Dongfang Zhongke, Yingqu Technology, Nanjing Panda, Lihe Science and Technology, BYD Electronics [2] - In the downstream medical solutions sector, notable companies are: Aipeng Medical, Xiangyu Medical, Chengyitong, Ruimaite, Weisi Medical, Innovation Medical, Sanbo Neuroscience [2] Policy and Development Goals - By 2027, the BCI industry aims to achieve key technological breakthroughs, with products reaching international advanced levels and expanding applications in industrial manufacturing, healthcare, and consumer life [4] - By 2030, the goal is to cultivate 2 to 3 globally influential leading enterprises and a number of specialized small and medium-sized enterprises, establishing a competitive industrial ecosystem [4] Technical Advancements - Focus on enhancing brain signal sensing capabilities through innovative materials and processes, developing high-performance, low-power brain-machine chips, and integrating AI into decoding processes [4] - Accelerate the development of high-performance products, including both implantable and non-implantable devices, to improve control precision and response speed [4]

Core Viewpoint - The implementation opinions issued by seven departments aim to promote the innovation and development of the brain-computer interface (BCI) industry, targeting significant technological breakthroughs by 2027 and establishing a competitive global industry ecosystem by 2030 [1][3]. Summary by Relevant Sections Key Tasks - The implementation opinions outline five key tasks: strengthening foundational hardware and software, creating high-performance products, promoting the application of technological achievements, expanding innovative entities, and enhancing industrial support capabilities [1][2]. Key Projects - Three major projects are highlighted: core hardware and software foundational projects, high-quality complete machine projects, and application expansion projects [1][2]. Technological Development - Emphasis is placed on innovating brain signal sensing components, developing various types of implantable electrodes, and enhancing the stability and reliability of materials [2]. - The development of high-performance products includes accelerating breakthroughs in implantable devices and promoting the mass production of non-implantable devices with innovative forms such as adhesive, ear, and head-mounted interfaces [2]. Application Expansion - The implementation opinions stress the importance of promoting industrial innovation results and enhancing testing and pilot capabilities, particularly in medical health applications targeting neurodegenerative and mental disorders [3]. - The BCI technology aims to establish an information channel between the brain and machines, facilitating the integration of biological and machine intelligence [3]. Market Potential - The global market for BCI medical applications is projected to reach $40 billion by 2030 and $145 billion by 2040, indicating significant growth potential [3]. - In China, the BCI market is expected to grow from 3.2 billion yuan in 2024 to 5.58 billion yuan by 2027, with a growth rate of 20% [4]. Policy Support - Since 2025, various regions have released policies to seize global BCI development opportunities, including plans to establish demonstration zones for BCI industry development by 2030 [4].