Brain-Computer Interface Technology Moving Toward Reality: Institutions Conduct In-Depth Research on Five Companies

Securities Times Reporter Liang Qiangang

According to the National Healthcare Security Administration, on March 13, the world’s first invasive brain-computer interface medical device was officially approved for market launch. On March 15, the National Healthcare Security Administration proactively coordinated and provided services to assign a medical insurance code for this product, successfully bridging the critical link from approval to clinical application, marking the brain-computer interface industry’s transition from a “blueprint” to a “fast track” for implementation.

The 2026 government work report lists brain-computer interfaces as a key future industry to cultivate. The 14th Five-Year Plan explicitly emphasizes forward-looking development of future industries, promoting quantum technology and brain-computer interfaces as new drivers of economic growth. Under favorable policies, brain-computer interface technology is accelerating out of the laboratory.

Technologically, brain-computer interfaces are mainly divided into invasive and non-invasive types. Invasive brain-computer interfaces involve surgically implanting electrodes into the brain to directly record neural activity signals; non-invasive interfaces collect brain signals through scalp electrodes without surgery.

Whether invasive or non-invasive, brain-computer interfaces have demonstrated clear application value in health fields such as motor rehabilitation, neurological and psychiatric disease treatment, and hearing recovery, with broad prospects.

On March 22, the China Development Forum 2026 Annual Conference opened. Han Bisheng, founder and CEO of QiangNao Technology, said in an interview that brain-computer interfaces are expected to achieve breakthroughs in four major areas soon: helping the elderly regain walking ability, solving blindness for visually impaired groups, enabling early intervention for Alzheimer’s disease, and intervening in insomnia at the neural level. Looking further into the future, the potential of brain-computer interfaces extends far beyond medical and rehabilitation applications.

McKinsey predicts that the global market potential for brain-computer interface medical applications could reach $40 billion by 2030 and $145 billion by 2040.

According to China Academy of Information and Communications Technology, China’s brain-computer interface industry is expected to grow to between 10 billion and 14 billion yuan by 2030.

Data from Securities Times·Data Treasure shows that since the beginning of the year, 12 brain-computer interface concept stocks have been surveyed by institutions. Among them, five stocks—Xiangyu Medical, Aipeng Medical, Entai Technology, Botuo Biotech, and 37 Interactive Entertainment—have been studied by over 110 institutions each.

Xiangyu Medical stated during institutional surveys that its brain-computer interface products covering occupational therapy, motor therapy, cognitive speech, swallowing, and other rehabilitation scenarios are expected to be rapidly implemented. For example, its brain-computer interface swallowing electrical stimulation product can capture patients’ brain signals to form a closed-loop treatment, solving issues of traditional swallowing disorder treatments relying on medical cooperation and patients’ choking risks. It has received positive feedback from multiple hospitals and hundreds of clinical cases. The company’s passive and active rehabilitation training systems for limbs, as well as hand function rehabilitation devices, meet clinical needs and can be commercialized quickly.

Aipeng Medical indicated that its layout in brain-computer interfaces mainly considers leveraging existing technology and channels, prioritizing the commercialization of non-invasive products, while also strategically expanding into high-barrier invasive technologies.

As of the close on March 23, the total market value of brain-computer interface concept stocks in A-shares was approximately 475.5 billion yuan. Since the beginning of the year, these stocks have generally declined, with an average retracement of 30.96% compared to their peak prices this year as of March 23. Hige Communication, Prite, Xiangyu Medical, and Botuo Biotech experienced the largest declines.

Hige Communication’s decline was 47.22%. The company is conducting research on non-invasive brain-computer interface technology aimed at enabling civilian and specialized applications in perception and control scenarios. The company expects a net loss of 700 million to 790 million yuan in 2025.

(Data provided by Securities Times Center Database; illustration: TuChong Creative)

(Editor: Guo Jiandong)

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