2026年2月，上海证监局IPO辅导备案系统迎来一家备受瞩目的公司—— 博睿康技术（上海）股份有限公司 。这家专注于脑机接口技术的高科技企业正式启动科创板上市进程，由中信证券担任辅导机构。 | 辅导协议签署 | 2026年2月4日 | | --- | --- | | 居 间 | | | ਥ | 导 机 构 中信证券股份有限公司 | | 律师 事 务 所 北京市通商律师事务所 | | | 会计师事务所 | 天健会计师事务所(特殊普通合伙) | 几乎与此同时，彭博社报道称，另一家脑机接口企业强脑科技已以保密形式递交港股IPO申请。一时间，"中 国脑机接口第一股"的归属引发市场广泛关注。 清华实验室走出的产业化征程 01. 2023年10月，首都医科大学宣武医院的手术室内，一场特殊手术正在进行。博睿康研发的NEO脑机接口系统 被植入一名患者体内，成为 中国首例微创植入式脑机接口临床手术。 博睿康成立于2011年11月，最初注册于常州，于2025年迁至上海并完成更名。公司的核心团队源于清华大学 生物医学工程学院神经工程实验室，该实验室在脑机接口领域长期保持国际前沿水平。 创始人胥红来与联合创始人黄肖山均出身于清华大学 ...

Investment Rating - The report maintains a "Positive" investment rating for the brain-computer interface (BCI) industry [1]. Core Insights - The BCI technology has significant potential in the healthcare sector, particularly for improving the quality of life for patients with severe motor disabilities and other neurological disorders [4]. - The global BCI market is experiencing rapid growth, with a compound annual growth rate (CAGR) of 11.85% from 2018 to 2023, projected to reach $10.8 billion by 2033, with a CAGR of 16.48% from 2023 to 2033 [4][25]. - The Chinese BCI market is also expanding quickly, expected to reach 5.58 billion yuan by 2027, with a CAGR of 20.29% [4]. - The healthcare sector accounted for 46.14% of the BCI market share in 2024, with potential market sizes in serious medical applications estimated between $15 billion and $85 billion by 2030-2040 [4][32]. Summary by Sections 1. Introduction to Brain-Computer Interfaces - BCI technology interprets brain signals to control external devices, significantly benefiting patients with severe motor disabilities [11]. - The development of BCI technology has gained global attention, with various projects moving from laboratory settings to practical applications [11]. 2. Investment Landscape of Brain-Computer Interfaces - The global BCI market size grew from $1.2 billion in 2018 to $2.35 billion in 2023, with non-invasive BCI being the primary research focus [25]. - Major countries are supporting BCI technology through various initiatives, including the U.S. "Brain Research Initiative" and the EU's "Human Brain Project" [28]. 3. Key Technologies and Current Development Status - BCI systems are categorized into input and output types, with various signal acquisition methods including invasive, semi-invasive, and non-invasive techniques [20][24]. - The report highlights the challenges faced by BCI technology, including complex EEG signals and limitations in decoding accuracy [4]. 4. Company Analysis in the BCI Sector - Notable companies in the BCI field include Cheng Yi Tong, Xiang Yu Medical, and Sanbo Neuroscience, which are recognized for their advancements in BCI technology [4].