Group 1 - The stock of GuoDun Quantum (688027) closed at 599.00 CNY on October 30, with an increase of 17.22% and a trading volume of 6.996 billion CNY [2] - The stock was listed on the daily trading list due to its closing price increase of 15% [2] - The top five trading departments accounted for a total transaction amount of 1.821 billion CNY, with a net buying amount of 164 million CNY [2] Group 2 - The main capital inflow for the stock was 92.7998 million CNY throughout the day [3] - The largest buying department was the Shanghai-Hong Kong Stock Connect, with a buying amount of 595.7211 million CNY [3] - The largest selling department was also the Shanghai-Hong Kong Stock Connect, with a selling amount of 189.46 million CNY [3]

Core Insights - The United Nations has officially designated 2025 as the "International Year of Quantum Science and Technology," coinciding with the centenary of quantum mechanics [1] - The recent Nobel Prize in Physics awarded to scientists in superconducting quantum circuits highlights the significant advancements in quantum technology, indicating a transformative era for the industry [2] Industry Developments - Quantum technology is expected to address complex problems that classical computers cannot solve, with potential applications in drug development, materials science, and financial modeling, potentially creating trillions of dollars in economic value [2] - Major tech companies like Microsoft and Google are making significant strides in quantum computing, with Microsoft announcing a new topology quantum processor and Google achieving a milestone in running verifiable algorithms on hardware [2] - China is emerging as a key player in the quantum technology sector, with substantial government support and a growing number of companies like GuoDun Quantum and Benyuan Quantum making progress [2][3] Market Trends - The Chinese quantum computing market is experiencing explosive growth, with the market size projected to increase from RMB 0.24 billion in 2019 to RMB 50.21 billion in 2023, reflecting a compound annual growth rate of 281.79% [6] - A strategic fund led by China Guoxin Holdings has been established with an initial fundraising target of RMB 51 billion, emphasizing quantum technology as a key investment area alongside AI and high-end equipment [4] Challenges and Opportunities - Despite the high growth potential, the quantum computing sector faces challenges in commercializing research outcomes, with many companies struggling to generate sustainable revenue [7][8] - The integration of quantum computing with classical computing is seen as a promising path forward, with companies like NVIDIA exploring hybrid computing solutions [10][11] Future Outlook - The industry is shifting focus from achieving "quantum supremacy" to delivering practical value to customers, with ongoing collaborations between quantum startups and academic institutions to tackle real-world problems [12][13] - The success of quantum computing will depend on building a robust software and application ecosystem, with expectations for significant breakthroughs in the near future [14]

Summary of Key Points Core Viewpoint - On October 30, a total of 45 stocks were involved in institutional trading, with 18 stocks showing net buying by institutions and 27 stocks showing net selling [1] Institutional Buying - The top three stocks with the highest net buying by institutions were: - Aters: Net buying amount of 277 million [1] - Zhenhua Co., Ltd.: Net buying amount of 149 million [1] - Penghui Energy: Net buying amount of 77.78 million [1] Institutional Selling - The top three stocks with the highest net selling by institutions were: - Guodun Quantum: Net outflow amount of 388 million [1] - Keda Guokai: Net outflow amount of 359 million [1] - Dawi Co., Ltd.: Net outflow amount of 141 million [1]

证券代码：688027 证券简称：国盾量子 公告编号：2025-060 科大国盾量子技术股份有限公司 股票交易异常波动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 一、股票交易异常波动的具体情况 公司股票交易连续 3 个交易日内（2025 年 10 月 28 日、2025 年 10 月 29 日、 2025 年 10 月 30 日）收盘价格涨幅偏离值累计超过 30%，根据《上海证券交易所 交易规则》《上海证券交易所科创板股票异常交易实时监控细则》的有关规定， 属于股票交易异常波动情形。 二、核实的相关情况 根据上海证券交易所相关规定，公司对相关情况进行必要核实，现说明如下： （一）生产经营情况 经公司自查，公司近期日常经营情况正常，未发生重大变化。市场环境、行 科大国盾量子技术股份有限公司（以下简称"国盾量子"或"公司"） 股票交易连续 3 个交易日内日收盘价格涨幅偏离值累计超过 30%。 公司 2023 年度、2024 年度及 2025 年前三季度归属于上市公司股东的净 利润分别为-12,391. ...

Core Insights - On October 30, a total of 45 stocks were involved with institutional investors, with 18 showing net buying and 27 showing net selling [1] - The top three stocks with net buying by institutions were: - Arctech (阿特斯) with a net buying amount of 277.30 million yuan, up 9.50% - Zhenhua (振华股份) with a net buying amount of 148.85 million yuan, up 10.00% - Penghui Energy (鹏辉能源) with a net buying amount of 77.78 million yuan, up 20.00% [2] - The top three stocks with net selling by institutions were: - Guodun Quantum (国盾量子) with a net outflow of 388.27 million yuan, down 17.22% - Keda Guokai (科大国创) with a net outflow of 358.81 million yuan, down 9.64% - Dawi Co. (大为股份) with a net outflow of 140.98 million yuan, up 1.01% [4] Institutional Buying Summary - The stocks with significant institutional net buying included: - Arctech: 277.30 million yuan - Zhenhua: 148.85 million yuan - Penghui Energy: 77.78 million yuan - Fuxin Software (福昕软件): 76.23 million yuan, up 15.69% - Tongrun Equipment (通润装备): 65.11 million yuan, up 9.98% [2] Institutional Selling Summary - The stocks with significant institutional net selling included: - Guodun Quantum: 388.27 million yuan - Keda Guokai: 358.81 million yuan - Dawi Co.: 140.98 million yuan - Other notable sell-offs included: - Shenkai Technology (神开股份): 22.39 million yuan, down 6.33% - DeLong Energy (德龙汇能): 38.15 million yuan, up 10.02% [3][4]

Core Insights - The quantum technology sector saw a rise of 1.27%, ranking second among concept sectors, with 53 stocks increasing in value, including notable gainers like Geer Software, Shenzhou Information, and ST Fuhua, which hit the daily limit up [1][2] - The sector experienced a net outflow of 5.579 billion yuan in main funds, with 46 stocks receiving net inflows, and 11 stocks seeing inflows exceeding 50 million yuan [2][3] Sector Performance - The quantum technology sector's performance was highlighted by significant stock movements, with Geer Software rising by 19.85%, Shenzhou Information by 9.98%, and ST Fuhua by 5.08% [1][3] - Conversely, stocks like Tengjing Technology, AVIC Optoelectronics, and Guangku Technology faced declines of 11.60%, 6.88%, and 6.79% respectively [1][6] Fund Flow Analysis - The leading stocks in terms of net inflow included Zhejiang Dongfang with 398.22 million yuan, followed by China Great Wall and Beixin Source with 146.19 million yuan and 135.52 million yuan respectively [2][3] - The net inflow ratios for ST Fuhua, Beixin Source, and Zhejiang Dongfang were 15.96%, 13.77%, and 10.71% respectively, indicating strong interest in these stocks [3][4]

Market Overview - The average stock price of A-shares is 13.93 yuan, with 165 stocks priced over 100 yuan, a decrease of 3 from the previous trading day [1] - The Shanghai Composite Index closed at 3986.90 points, down 0.73%, while stocks priced over 100 yuan saw an average decline of 2.01%, underperforming the index by 1.28 percentage points [1] Performance of High-Value Stocks - Among the stocks priced over 100 yuan, Kweichow Moutai has the highest closing price at 1426.74 yuan, down 0.36%, followed by Cambrian and GuoDun Quantum at 1422.00 yuan and 599.00 yuan respectively [1] - In the past month, high-value stocks have averaged a rise of 1.97%, while the Shanghai Composite Index increased by 3.22% [2] Sector Analysis - The electronics sector is the most represented among high-value stocks, with 62 stocks, accounting for 37.58% of the total [2] - Other notable sectors include computer and machinery equipment, with 20 and 16 stocks respectively [2] Institutional Ratings - A total of 32 stocks priced over 100 yuan received "buy" ratings from institutions, indicating positive sentiment towards these stocks [2] - Among these, Kweichow Moutai has the highest projected target price of 2600.00 yuan, suggesting an upside potential of 82.23% [3] Notable High-Value Stocks - The following high-value stocks are highlighted for their performance: - Kweichow Moutai: 1426.74 yuan, -0.36% [3] - Cambrian: 1422.00 yuan, -2.67% [3] - GuoDun Quantum: 599.00 yuan, +17.22% [3] - Other significant stocks include Ningde Times, Jibite, and Zhongji Xuchuang, with closing prices ranging from 375.61 yuan to 514.74 yuan [3][4]

Core Viewpoint - The A-share market experienced fluctuations on October 30, with all three major indices showing significant declines, particularly the ChiNext index which fell nearly 2%, and the Shanghai Composite Index dropping below 4000 points. However, quantum technology stocks showed strong performance, indicating a growing interest in this sector [2]. Market Performance - The A-share market saw a turbulent adjustment, with the ChiNext index declining nearly 2% and the Shanghai Composite Index falling below 4000 points [2]. - Quantum technology stocks were notably active, with Shenzhou Information achieving two consecutive trading limits, and Geer Software hitting four trading limits in six days. Fujida surged over 19%, while Guodun Quantum, Weide Information, and Puyuan Precision Electronics all rose over 10% [2]. Industry Developments - On October 28, NVIDIA announced the launch of NVQLink, connecting 17 quantum computing companies and 9 research laboratories to integrate quantum and GPU computing. NVQLink is an open system architecture designed to combine the extreme performance of GPU computing with quantum processors to build accelerated quantum supercomputers [2]. - According to a report by Guotai Junan Securities, quantum computing is recognized as one of the most disruptive frontier technologies. Reports from IBM and the China Academy of Information and Communications Technology indicate that quantum computing is still in the early stages of technological breakthroughs, with potential substantial progress expected in the next 5 to 10 years [2]. - The application of quantum security is still in its infancy, but there is significant growth potential. China is leading in the QKD quantum security field, having established a relatively complete quantum secure communication industry chain centered around QKD technology. The quantum measurement industry is currently entering a diversified development phase [2].

Market Overview - A-shares experienced a decline on October 30, with the Shanghai Composite Index falling below the 4000-point mark, closing down 0.73% at 3986.9 points, and the Shenzhen Component Index down 1.16% at 13532.13 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 24.646 billion yuan, an increase of 1.737 billion yuan compared to the previous day [1] Sector Performance - The coal sector saw significant declines, with companies like Kailuan Energy and Antai Group hitting the daily limit down [1] - The brokerage sector weakened, with firms such as China International Capital Corporation and East Money falling over 3% [1] - The AI industry chain stocks plummeted, with companies like Tengjing Technology and Tianfu Communication dropping over 10% [1] - Conversely, the steel and non-ferrous metal sectors experienced gains, with companies like Chang Aluminum and Dazhong Mining hitting the daily limit up [1] Lithium Battery Sector - The lithium battery industry chain stocks surged, with Penghui Energy hitting the daily limit up at 20%, and Tianhua New Energy rising nearly 15% [3][4] - The overall performance of lithium battery stocks indicates a strong market demand, driven by seasonal increases in household energy storage battery needs and the growth of AI computing centers [3][5] Quantum Technology Sector - Quantum technology stocks became active again, with Fujida rising nearly 20% and Guodun Quantum surpassing 600 yuan, setting a new historical high [6][7] - The recent government proposals emphasize the importance of quantum technology as a future industry, suggesting potential for further policy support and investment opportunities [8] Innovative Drug Sector - The innovative drug sector faced a downturn, with Hanyu Pharmaceutical dropping over 10% and WuXi AppTec falling over 8% [9] - Hanyu Pharmaceutical reported a revenue of 683 million yuan for the first three quarters, a year-on-year increase of 82.06%, but reported a net loss in the third quarter [9]

Market Overview - A-shares experienced a decline on October 30, with the Shanghai Composite Index falling below the 4000-point mark, and the ChiNext and STAR Market indices dropping nearly 2% [1][2] - The Shanghai Composite Index closed down 0.73% at 3986.9 points, while the Shenzhen Component Index fell 1.16% to 13532.13 points [2] Sector Performance - The coal sector saw significant declines, with companies like Kailuan Energy and Antai Group hitting the daily limit down [2] - The brokerage sector weakened, with firms such as China International Capital Corporation and Oriental Fortune dropping over 3% [2] - The AI industry chain stocks plummeted, with companies like Tengjing Technology and Tianfu Communication falling over 10% [2] - The innovative drug concept also faced downturns, with Hanyu Pharmaceutical dropping over 10% and WuXi AppTec falling over 8% [2][13] Lithium Battery Sector - The lithium battery industry chain stocks surged, with Penghui Energy hitting the daily limit up with a 20% increase, and Tianhua New Energy rising nearly 15% [5][6] - Other notable performers included Wanrun New Energy and Xinwangda, both rising over 10% [5] - The overall market for lithium battery stocks is bolstered by increasing demand for household energy storage batteries and the growth of AI computing centers [7] Quantum Technology Sector - The quantum technology sector saw renewed activity, with Fujida rising nearly 20% and Guodun Quantum exceeding a 17% increase, reaching a price above 600 yuan [9][10] - The government has emphasized the importance of quantum technology in future economic growth, with expected policy support [11] Innovative Drug Sector - The innovative drug sector showed weakness, with Hanyu Pharmaceutical reporting a significant drop in stock price despite a strong revenue growth of 82.06% year-on-year [13] - WuXi AppTec announced plans for a share reduction by its controlling shareholder, which may have contributed to its stock price decline [13]