BCI IPO boom: Mature tech or capital hype? Analysis via experimental paradigms and industrialization timelines

On July 23, the A-share brain-computer interface (BCI) concept sector surged collectively, with Innovation Medical hitting the daily limit up, followed by gains in Sanbo Brain Hospital, BeiYiKang, and others. On the same day, Shanghai released its "20 Measures" for direct financing, explicitly listing BCI as a key future industry supported by the STAR Market and expanding the scope of the fifth set of listing standards. The resonance between policy signals and market sentiment has pushed the race for the title of "First BCI Stock" into an IPO countdown.