Chinese Tech Growth Stocks Investment Insights: Brain-Computer Interfaces & Storage Chips

Based on the market facts you provided (brain-computer interfaces and storage chips leading gains, ChiNext Index up over 2%) and combined with recent industry, policy, and capital trends, I offer the following insights for investing in Chinese tech growth stocks:

• Brain-computer interfaces have been included in the key directions of the ‘十五五 (15th Five-Year Plan)’ future industries; multiple departments have issued implementation opinions, and combined with the medical insurance side providing pricing guidance for some projects (e.g., 966 yuan per session), forming a closed loop from policy to payment. This means capital is willing to pay for ‘strong policy certainty + early commercialization’ [2][3].
• The storage and chip ecosystem is driven by global AI/computing power demand, combined with domestic substitution and independent control, forming the dual main lines of ‘prosperity + security’. Capital prefers sub-sectors at key nodes of domestic substitution, with both technical verification and large-scale adoption [1][4].
• Investment insight: Prioritize targets with clear policy goals, complete supporting facilities, and key links in clinical/commercial paths already validated, rather than pure theme speculation.

• Medical first, consumer follow-up is the current consensus for brain-computer interfaces. Serious medical needs are strong, rigid demand is high, and payment paths are relatively clear (motor function reconstruction, stroke rehabilitation, etc.). Consumer scenarios need to wait for the critical point of device invisibility, functional rigid demand, and ecological integration [2][3].

• Brain-computer interface financing was active in 2025 (24 deals, 983 million yuan), and the industry has entered an accelerated verification period, but the sector as a whole is still in the early stage, with high volatility and unstable profits. When sentiment is high, strictly screen technical paths and commercial verification levels to avoid chasing pure themes [2][3].

• Against the background of global supply chain restructuring and external restrictions, domestic computing power and storage are key shortcomings of AI infrastructure and long-term main battlefields for capital layout. Companies with vertical integration of technology stacks and scenario verification have more bargaining power and sustainable realization capabilities [1][4].
• Investment insight: Optimize companies with collaborative capabilities in chip design, manufacturing, packaging and testing, and scenario applications, or those that can form an ecological closed loop with cloud factories/large models; pay attention to upstream and downstream collaboration in the industry chain (such as joint iteration with cloud factories/model factories).

• The commonality between brain-computer interfaces and storage chips is: clear industry trends, visible clinical/order progress, and relatively reasonable valuation ranges. Capital tends to increase allocation to these sub-tracks in rising markets [1][2][3].
• Investment insight: Establish a multi-dimensional evaluation framework (policy priority, technical/clinical milestones, order/revenue realization, valuation safety margin) to improve the winning rate of allocation.

• China has ‘asymmetric advantages’ in clinical resources, transformation efficiency, and policy synergy, but there are still gaps with international leaders in cutting-edge algorithms, high-end manufacturing, and valuation. This determines that domestic substitution and differentiated competition (cost-effectiveness, scenario embedding) are practical paths [1][2][3].
• Investment insight: Pay attention to local scenarios and policy dividends, but also be alert to generational gaps and technical route risks with international leaders; prioritize sub-tracks with clear domestic substitution paths and cost advantages.

• Top-down:
  1. Policy map: Screen sub-tracks supported by ‘十五五 (15th Five-Year Plan)’ future industries, special implementation plans, and medical insurance pricing.
  2. Industry map: Identify links and targets at key commercial inflection points (clinical/orders/capacity).
• Bottom-up:
  1. Technology and commercialization progress: Milestone completion rate, quality and sustainability of customers/partners.
  2. Valuation and safety margin: PS/PE, revenue/profit inflection points and sustainability, as well as equity structure and capital expenditure intensity.
  3. Market structure and chips: Liquidity, foreign capital share, and institutional allocation status.

• Allocation rhythm: During the resonance period of policy and prosperity, appropriately increase the allocation ratio to new technologies and new scenarios; but control the weight of a single track to prevent pullbacks after overheating sentiment.
• Target screening: Prioritize enterprises with ‘policy certainty + high technical/clinical verification + high order/revenue realization + valuation not overdrawn expectations’; remain cautious about targets with pure themes and lack of milestones and data support.
• Dynamic evaluation: Track policy updates, clinical/capacity progress, and order/revenue changes quarterly; decisively reduce positions for targets whose valuation is significantly divorced from fundamentals.

• Technical route failure or substitution: Emerging tracks have rapid technical iteration, with risks of wrong path selection.
• Commercialization below expectations: The pace of pricing, payment, and penetration landing on the medical side is slower than expected.
• Geopolitical and supply chain risks: Increased external restrictions, supply chain disruptions, or changes in export policies.
• Sentiment and valuation fluctuations: After excessive short-term gains, valuation digestion and sentiment cooling lead to pullbacks.

• This chart shows the comparison of sector gains and losses, the relationship between market size and gains, the investment distribution of the brain-computer interface industry chain, and the score of key factors for tech growth stock investment, which is visually constructed based on the sector and industry background returned by the tool [0].

• The market facts you provided (ChiNext Index up over 2%, brain-computer interfaces and storage chips leading gains) are inconsistent with the ChiNext Index’s daily涨跌 data returned by external tools. To ensure the analysis logic is consistent with your question, this report is discussed based on the market facts you provided; external data points are only for background reference and not used to judge today’s gains or losses.

[0] Jinling API Data
[1] Business Insider/WSJ/Bloomberg et al. - China AI/Chip and Capital Market Trends (2025-2026)
[2] Huayuan Securities “2026 Industry Catalysts Dense, Focus on Brain-Computer Interface Opportunities” (2025-12-29)
[3] TMTPost/Yibang Power et al. - 2025 Brain-Computer Interface Industry and Policy Overview (2026-01-01)
[4] Hong Kong Stocks and Chinese Concept Tech Sector Reports (2025-2026)