Analysis of the Surge in Brain-Computer Interface Concept Stocks: The Substantive Correlation Between Neuralink and A-Share Companies

Let me provide a systematic analysis of the surge in brain-computer interface concept stocks and their substantive correlation with Neuralink’s commercialization progress.

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On January 2, 2026, the first trading day of 2026 for the A-share market, the brain-computer interface sector (Index Code: 886047) performed exceptionally strongly, with a daily surge of

and a turnover exceeding , hitting a stage high since last year [1][2]. A large-scale limit-up wave swept through the sector:

Stock Name	Price Surge	Category
Beiyikang	30CM Limit-Up	Leading Stock
Sanbo Brain Hospital	20CM Limit-Up	Core Target
Xiangyu Medical	20CM Limit-Up	Core Target
Wizmed	20CM Limit-Up	Core Target
Apeng Medical	20CM Limit-Up	Core Target
Medlander	20CM Limit-Up	Core Target
Chengyitong	20CM Limit-Up	Core Target

Approximately

on the day, fully releasing the market’s profit-making effect [1][3].

The core catalyst for this rally was a heavyweight statement from

. On December 31, 2025, Musk announced on social media platform X:

“Neuralink plans to launch large-scale production of brain-computer interface devices in 2026, while advancing a more streamlined and almost fully automated surgical procedure.” [1][4]

According to his disclosure, the core breakthroughs of the new generation technology are:

• The electrode wire can directly penetrate the dura mater without resection
  , significantly reducing surgical trauma and complication risks
• Automated surgical robots
  have reduced the duration of a single procedure from the initial 6 hours to
  within 20 minutes
• Implantation costs
  have also dropped from the million-dollar range to
  under US$100,000
  , laying the foundation for large-scale implementation [1][5]

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Since its establishment in 2016, Neuralink’s technical route has become increasingly clear, and it currently adopts

with remarkable progress [4][6]:

Time Node	Milestone Event	Technical Indicators
January 2024	Completed first human transplant surgery	First volunteer implanted with N1 chip
September 2025	Clinical trial expansion	12 people worldwide have been implanted with the device, with a cumulative usage time exceeding 15,000 hours
Summer 2025	Technology conference	Demonstrated mind control of computers, drawing, games, and Optimus robot arms
2026	Launch of large-scale production	Number of electrode channels increased to 3,000 , conducting clinical tests for blindsight
2027	Technology iteration	Number of electrodes increased to 10,000 , multi-device implantation
2028	Full brain connection	Number of electrodes exceeds 25,000 , covering deep brain regions

Neuralink’s recent clear technological breakthroughs are reflected in three dimensions [4][5][7]:

• Reduced from traditional 6-hour surgery to
  20 minutes
• Almost fully automated surgical solution
• Significantly lowers surgical thresholds and labor costs

• Implantation costs reduced from
  million-dollar range to under US$100,000
• Removes economic barriers for large-scale commercial implementation

• First batch of recipients can already
  type, play games
  with their minds
• Control range extended to
  assistive robot arms
• Future plans to control more physical devices through “neural connectivity”

According to an analysis report by

[4]:

• Neuralink’s current valuation is approximately
  US$9 billion
  (after the 2025 Series E financing)
• In the
  U.S. market alone
  , the potential market size of brain-computer interface implantation devices could reach
  US$80 billion
  by 2035
• Mainly covering the treatment of neurological diseases such as
  amyotrophic lateral sclerosis (ALS) and stroke

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By sorting out the business layouts of major A-share concept stocks, a

can be found: [2][8][9]:

Technical Route	Neuralink	A-Share Company Layout
Mainstream Technology	Invasive (requires craniotomy for implantation)	Non-invasive (signal collection outside the scalp)
Signal Collection	Flexible electrode wires implanted in the cerebral cortex	External devices such as scalp electroencephalography (EEG)
Technical Difficulty	High (surgical safety, material biocompatibility)	Relatively low (signal accuracy is limited)
Application Scenarios	Treatment of severe paralysis, neurological diseases	Rehabilitation training, sleep monitoring, concentration improvement

: Neuralink uses technology that requires craniotomy for implantation, while the vast majority of A-share companies focus on technical routes. Although there is overlap in application objectives, there is a significant generational gap in core technologies [2][8].

• Main Business
  : R&D, production, and sales of rehabilitation medical devices, with products used in mental rehabilitation, pelvic and postnatal rehabilitation, neurological rehabilitation, and other fields
• Substantive Correlation
  : Its new brain-computer interface products
  are in the early stage of market cultivation
  , mainly focusing on
  non-invasive
  technical routes, with significant path differences from Neuralink’s invasive technology. Related products
  have not yet achieved large-scale sales
  and contribute limited to overall revenue [2]

• Main Business
  : Rehabilitation medical devices covering full rehabilitation scenarios such as occupational therapy, exercise therapy, cognitive speech, and swallowing
• Substantive Correlation
  : Focuses on
  non-invasive
  brain-computer interface technology, with certain layouts in technology, products, and channel markets. However, as of the end of 2025,
  related products have not achieved large-scale sales
  , accounting for a small proportion of revenue [2][9]

• Main Business
  : In vitro diagnostic products, covering emergency care, brain disease diagnosis, pediatrics, and other fields
• Substantive Correlation
  : Layouts through
  strategic cooperation
  , signing a “Strategic Cooperation Framework Agreement” with Shenzhen Brain-Computer Star Chain Technology Co., Ltd. to provide channel empowerment for its brain-computer interface products,
  no self-developed brain-computer interface products have been launched yet
  [2]

• Substantive Correlation
  : Expected to obtain the first brain-computer interface medical device registration certificate (brain-computer interface transcranial magnetic stimulator) in the first quarter of 2026, which is a
  non-invasive
  device [8]

• Main Business
  : A medical service group with a focus on neurosurgery, providing comprehensive medical services centered on high-precision neurosurgery
• Substantive Correlation
  :
  Explicitly stated that it is not involved in the R&D, production, or sales of brain-computer interface products
  , and revenue from neuromodulation technology accounts for an extremely small proportion, having
  basically no impact on the company’s performance
  [2]

• Main Business
  : Three major segments: military electronics, public security, and high-end medical equipment
• Substantive Correlation
  :
  Has not actually carried out related businesses such as brain-computer interface
  [2]

Companies such as Beiyikang, Apeng Medical, Entropy Technology, Mehow Medical, Chengyitong, and Pony Testing

after the surge, which are typical cases of “concept speculation” [2].

Based on industry research and company announcements, a hierarchical assessment of A-share brain-computer interface concept stocks is conducted [6][8][9]:

Industrial Chain Segment	Representative Companies	Correlation with Neuralink	Business Substance
Upstream Core Hardware	Hanwei Technology (flexible sensors)	★☆☆☆☆	Sensor technology has certain versatility but is not dedicated to invasive brain-computer interfaces
Midstream Algorithm Technology	iFLYTEK (emotion recognition algorithms)	★☆☆☆☆	Algorithms have versatility, but there are significant differences from Neuralink’s underlying technology
Downstream Clinical Application	Sanbo Brain Hospital	★☆☆☆☆	Medical service institution, not involved in brain-computer interface product R&D
Rehabilitation Devices	Wizmed, Xiangyu Medical	★☆☆☆☆	Non-invasive devices, different from invasive technical routes

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[1][2][4][9]:

Dimension	Assessment
Technical Correlation	Extremely low — A-share companies mainly focus on non-invasive technology, with fundamental differences from Neuralink’s invasive technology
Business Correlation	Extremely low — Most companies have negligible brain-computer interface business proportions, or only stay at the cooperation intention stage
Commercialization Progress Correlation	No direct correlation — Neuralink’s 2026 large-scale production will not directly contribute to the performance of A-share companies
Valuation Support	Weak — Current price surge mainly relies on market sentiment and concept speculation, lacking fundamental support

Stage	Neuralink	China
Clinical Progress	12 people implanted, cumulative usage exceeding 15,000 hours	Most products are still in the clinical trial stage
Mass Production Capacity	Launch large-scale production in 2026	Non-invasive products have been commercialized, while invasive ones still take time
Technological Maturity	Third-generation technology (3,000 channels in 2026)	Semi-invasive systems such as “Beijing Brain-1” are advancing in clinical trials

Pu Muming, an academician of the Chinese Academy of Sciences, frankly stated [8]: “To achieve true brain-computer integration as seen in sci-fi movies, it will take at least 5-10 years.”

Thomas Oxley, founder of

, believes [5]:

• It will
  take another 3-5 years
  for medical applications of brain-computer interfaces to be approved
• Consumer-grade implanted devices will take
  at least 15-20 years

This indicates that even for the technologically leading Neuralink, the commercialization path still has considerable uncertainty.

[1][9]:

“Behind the booming market, we need to be alert to the mismatch between technological maturity and commercialization progress. Currently, brain-computer interfaces are still in the clinical validation stage. Both the surgical safety verification of the invasive route and the signal accuracy improvement of the non-invasive route require long-term technological iteration and large-scale clinical data support. The current frenzy in the capital market is clearly divorced from the actual pace of industry development and is overly premature.”

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For investments in brain-computer interface concept stocks, it is recommended to focus on the following indicators [6][8]:

Focus Indicator	Specific Content	Evaluation Criteria
Product Registration Certificate Progress	Status of obtaining medical device registration certificates	Time of first certificate, number of approved certificates
Clinical Data Verification	Clinical trial effectiveness and safety data	Sample size, efficacy data
Commercialization Implementation Capability	Actual sales and customer feedback	Revenue proportion, repurchase rate

From the industrial chain perspective, A-share companies that have certain correlations with brain-computer interfaces include [6][8]:

Company	Related Business	Substantive Level
Hanwei Technology	Flexible brain-computer interface materials	Upstream hardware with certain technical barriers
iFLYTEK	Brainwave signal algorithms, communication devices for ALS patients	Midstream algorithms with patent advantages
Sanbo Brain Hospital	Neurosurgery clinical resources	Downstream clinical, but no product business
Xiangyu Medical/Wizmed	Rehabilitation non-invasive devices	Certain layouts have been formed, but technical routes are different

It is worth noting that

[9][10]:

• Brain-computer interface has been included in the future industry direction of the national “15th Five-Year Plan”
• Shanghai issued the “Action Plan for Cultivating the Future Industry of Brain-Computer Interfaces (2025—2030)”, clarifying that by 2027, it will promote more than 5 invasive and semi-invasive products to complete clinical trials
• Beijing has established a special incubation fund for brain-computer interfaces, with a single maximum financing amount exceeding RMB 50 million

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: In January 2026, A-share brain-computer interface concept stocks surged 13.7%, mainly driven by Musk’s announcement that Neuralink will launch large-scale production in 2026. However, :

1. Different technical routes
   : Neuralink focuses on invasive technology, while most A-share companies focus on non-invasive layouts
2. Extremely weak business correlation
   : Most companies have negligible brain-computer interface business proportions, or only have cooperation intentions
3. Disconnected commercialization progress
   : Neuralink’s commercialization will not directly contribute to the performance of A-share companies
4. Valuation divorced from fundamentals
   : Current price surge mainly relies on market sentiment rather than substantive business improvement

When participating in such concept speculation, investors should maintain a prudent attitude, focus on enterprises with

, and avoid blindly chasing gains and getting trapped.

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[1] Sina Finance - “Brain-Computer Interface ‘Speculation’ is Too Premature” (https://finance.sina.com.cn/roll/2026-01-06/doc-inhfivet7316585.shtml)

[2] 21st Century Business Herald - “Brain-Computer Interface Concept Surges, What is the Substance of Related Listed Companies’ Businesses?” (https://www.21jingji.com/article/20260106/herald/90ea0f8e98b078736e9ce6ee511f6f45.html)

[3] Securities Times - “Leading Stocks Hit Limit-Up! Low-Altitude Economy Takes the Spotlight” (https://stcn.com/article/detail/3570575.html)

[4] Wall Street China - “Musk Releases ‘Mass Production Timeline’, Brain-Computer Interface Stocks Surge Limit-Up, Is the Commercialization Inflection Point Coming?” (https://wallstreetcn.com/articles/3762545)

[5] World Internet Conference - “Musk: In 2026, Neuralink Launches ‘Large-Scale Mass Production’” (https://cn.wicinternet.org/2026-01/04/content_38517304.htm)

[6] Jiuyangongshe - “Brain-Computer Interface Concept Surges: Musk’s Mass Production Announcement Ignites a Hundred-Billion Track” (https://www.jiuyangongshe.com/a/jjw4xqwxdh)

[7] Eastmoney - “Brain-Computer Interface Becomes a Capital ‘Favorite’, Strong Brain Technology Completes RMB 2 Billion Financing, Second Only to Neuralink in Scale” (https://finance.eastmoney.com/a/202601063610339031.html)

[8] TMTPost - “Brain-Computer Interface 2025: Policy Orientation, Technological Breakthroughs, Capital Inflow, Medical Application Takes the Lead” (https://www.ebrun.com/20260101/634623.shtml)

[9] Securities Times - “Musk’s Mass Production Announcement Ignites the Market, Brain-Computer Interface Commercialization Accelerates, Chinese Industrial Clusters Emerge” (https://www.stcn.com/article/detail/3572633.html)

[10] Caifuhao - “Brain-Computer Interface ‘Speculation’ is Too Premature” (https://caifuhao.eastmoney.com/news/20260106101014171473140)