Core Insights - The communication equipment sector experienced a rise of 0.54% on October 9, with GuoDun Quantum leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Summary by Category Stock Performance - GuoDun Quantum (688027) closed at 398.79, with a significant increase of 13.62% and a trading volume of 64,800 shares, amounting to a transaction value of 2.581 billion [1] - Guanghe Tong (300638) saw a rise of 10.77%, closing at 33.64 with a trading volume of 926,600 shares, totaling 3.101 billion [1] - Other notable performers included: - Shijia Technology (002796) up 9.99% at 21.46 [1] - Yongding Co. (600105) up 9.99% at 13.98 [1] - ZTE Corporation (000063) up 9.51% at 49.98 with a trading volume of 4,508,700 shares, totaling 22.121 billion [1] Market Trends - The overall communication equipment sector saw a net outflow of 804 million from institutional funds, while retail investors contributed a net inflow of 1.257 billion [2] - The sector's performance indicates a mixed sentiment among different types of investors, with retail investors showing confidence despite institutional outflows [2]

Company Overview - Guodian Quantum Technology Co., Ltd. is located in Hefei, Anhui Province, established on May 27, 2009, and listed on July 9, 2020. The company specializes in the research, production, sales, and technical services of quantum communication products, providing software and hardware products for various sectors including government, finance, electricity, and national defense [1] Business Segmentation - The main business revenue composition includes: - Technical services: 35.68% - Quantum communication products: 34.31% - Quantum precision measurement products: 13.03% - Quantum computing products: 12.42% - Others: 4.56% [1] Stock Performance - On October 9, Guodian Quantum's stock rose by 6.74%, reaching 374.65 CNY per share, with a trading volume of 380 million CNY and a turnover rate of 1.24%. The total market capitalization is 38.537 billion CNY [1] Fund Holdings - According to data, Bosera Fund has a significant holding in Guodian Quantum through the Bosera Sci-Tech 100 ETF (588030), which reduced its holdings by 28,800 shares in the second quarter, now holding 438,100 shares, representing 1.9% of the fund's net value [2] Fund Performance - The Bosera Sci-Tech 100 ETF, established on September 6, 2023, has a latest scale of 6.337 billion CNY. Year-to-date returns are 59.16%, ranking 434 out of 4221 in its category, while the one-year return is 63.85%, ranking 459 out of 3848. Since inception, the return is 42.45% [2] Fund Management - The fund manager of Bosera Sci-Tech 100 ETF is Tang Yibing, who has been in the position for 3 years and 81 days. The total asset size of the fund is 9.874 billion CNY, with the best return during his tenure being 77.07% and the worst being -41.93% [3]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, indicating an expectation of returns exceeding the market benchmark by more than 5% [6][17]. Core Insights - The Nobel Prize in Physics awarded for quantum science research is expected to enhance the attention of governments and leading tech companies towards the industrialization of quantum technology, accelerating its commercialization process [3][10]. - The research recognized by the Nobel Prize lays a theoretical foundation for the industrialization of quantum technology, with significant contributions from the awarded scientists in developing superconducting circuits and quantum bits [9][10]. - Recent advancements in quantum technology, such as the installation of the first quantum computer in a data center in New York City, signify a shift from laboratory research to practical applications in the industry [9][10]. Summary by Sections Investment Recommendations and Targets - The report suggests focusing on leading domestic quantum technology companies, including Guandun Quantum, Guoxin Technology, Tengjing Technology, and Huagong Technology, as potential investment targets [3][10]. Industry Overview - The report highlights the growing interest in quantum technology following the Nobel Prize announcement, with expectations for increased investment and development in quantum computing, communication, and measurement technologies [9][10].

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 550.41 RMB based on a 2026 PS of 100x [4]. Core Viewpoints - The company is positioned to benefit from strong policy support and is expected to accelerate its growth in the quantum technology sector, which has been highlighted as a core area for future industrial development by the government [2]. - The company has shown significant revenue growth across its business segments, particularly in quantum computing, which has seen a remarkable increase of 283.92% in revenue [3][28]. - The company is expected to gradually overcome its low profitability issues, with a forecasted return to profitability in 2025, driven by revenue growth and improved cost management [3]. Summary by Sections Company Overview - Established in 2009, the company focuses on the R&D, production, and sales of quantum communication, quantum computing, and quantum precision measurement products, holding strong technical and cost advantages [1]. - In 2024, the company raised 1.775 billion RMB through a private placement, with China Telecom Quantum Group becoming the controlling shareholder [1]. Investment Logic - The quantum technology sector is receiving increased government investment, with over 2 billion USD allocated in 2024, positioning the company for accelerated growth [2]. Growth Potential - Revenue from quantum computing, quantum communication, and quantum precision measurement reached 55.96 million, 51.74 million, and 8.57 million RMB respectively in the first half of 2025, with significant year-on-year growth [3][28]. - The company is optimizing operational efficiency and reducing costs, with a notable decrease in sales and management expense ratios [3][29]. Financial Forecast and Valuation - Projected revenues for 2025, 2026, and 2027 are 371 million, 566 million, and 900 million RMB, respectively, with corresponding net profits of 24 million, 37 million, and 87 million RMB [4][8]. - The company is expected to achieve a significant increase in profitability, with a forecasted EPS of 0.23 RMB in 2025 [4]. Business Segments - The company has a diversified product portfolio across three main areas: quantum computing, quantum communication, and quantum precision measurement, each contributing to its growth [15][25]. - The quantum communication segment is particularly strong, with the company being a leading supplier of quantum communication devices in China [15][34]. Market Trends - The quantum communication market is projected to grow significantly, with an expected market size of 93.7 billion RMB by 2025, driven by increasing demand for secure communication technologies [40][44].

证券代码：688027 证券简称：国盾量子 公告编号：2025-055 科大国盾量子技术股份有限公司 关于日常关联交易的公告 一、关联交易概述 公司全资子公司拟与客户 A 签订 1 份销售商品合同，向其销售量子计算测控 设备，预计金额为 410.00 万元。包含此次交易，自此往前追溯 12 个月，公司与 关联方签订的销售商品合同金额合计为 421.92 万元（剔除公司已对外披露的关 联交易金额）。 重要内容提示： 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"） 全资子公司拟与客户 A 签订 1 份销售商品合同，向其销售量子计算测控 设备，预计金额为 410.00 万元。 公司拟与中国科学技术大学（以下简称"中科大"）签订 2 份采购服务 合同，合同一委托其对量子计算核心器件（量子计算芯片）的设计及开 发提供技术服务，合同金额预计为 450.00 万元，合同二委托其对量子计 算核心器件（超导量子行波参量放大器 OLSA）的设计及开发提供技术服 务，合同金额预计为 540.00 万元。 包含上述与客户 A 交易，自此往前追溯 12 个月，公司与关联方签订的销 售商品合同金额合计为 421.92 万 ...

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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 证券代码：688027 证券简称：国盾量子 公告编号：2025-056 科大国盾量子技术股份有限公司 2025年第五次临时股东大会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 （一） 股东大会召开的时间：2025 年 9 月 30 日 （二） 股东大会召开的地点：安徽省合肥市高新区华佗巷 777 号科大国盾量子 科技园 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 271 | | --- | --- | | 普通股股东人数 | 271 | | 2、出席会议的股东所持有的表决权数量 | 8,544,691 | | 普通股股东所持有表决权数量 | 8,544,691 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 8.3070 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 8.3070 | （ ...

证券代码：688027 证券简称：国盾量子 公告编号：2025-054 本公司监事会及全体监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。 一、监事会会议召开情况 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"）第四 届监事会第十五次会议于 2025 年 9 月 30 日以现场及通讯方式在公司会议室召开。 本次会议由监事会主席冯镭先生主持，本次会议应到监事 3 人，实际到会监事 3 人。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》《上海证 券交易所科创板股票上市规则》等相关法律、行政法规、规范性文件及《科大国 盾量子技术股份有限公司章程》的有关规定。 二、监事会会议审议情况 经与会监事充分讨论，会议以投票表决方式审议通过了一项议案，具体如下： 1、审议通过《关于公司日常关联交易的议案》 1.01 与客户 A 的关联交易 监事会认为：公司本次与客户 A 进行的关联交易属于日常经营活动所需，有 利于公司业务的持续发展，交易定价公允，相关关联方具备良好的商业信誉，本 次交易符合公司和全体股东的利益，没有对上市公司独立性构 ...

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、准确性和完整性承担法律责任。 一、董事会会议召开情况 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"）第四届董 事会第十七次会议于 2025 年 9 月 30 日以现场及通讯方式在公司会议室召开。本次会 议由董事长吕品先生主持，本次会议应到董事 9 人，实际到会董事 9 人。本次会议的 召集、召开和表决程序符合《中华人民共和国公司法》《上海证券交易所科创板股票 上市规则》等相关法律、行政法规、规范性文件及《科大国盾量子技术股份有限公司 章程》的有关规定。会议决议合法、有效。 二、董事会会议审议情况 证券代码：688027 证券简称：国盾量子 公告编号：2025-053 科大国盾量子技术股份有限公司 第四届董事会第十七次会议决议公告 表决情况：同意 9 票，反对 0 票，弃权 0 票。 1.02 与中科大的关联交易 公司董事会一致同意拟与中科大签订 2 份采购服务合同，合同一委托其对量子计 算核心器件（量子计算芯片）的设计及开发提供技术服务，合同金额预计为 450.00 万元，合同二委托其对量子计 ...

每经AI快讯，国盾量子9月30日晚间发布公告称，公司第四届第十七次董事会会议于2025年9月30日在 公司会议室召开。会议审议了《关于公司日常关联交易的议案》等文件。 （记者 曾健辉） 每经头条（nbdtoutiao）——前脚消费贷，后脚被银行追讨发票，7天内上传，否则后果严重！有人为此 焦虑，有人却趁机牟利：帮开票包过审 ...

E 3 天天律师事务所 股东大会法律意见书 安徽天禾律师事务所 关于科大国盾量子技术股份有限公司 2025 年第五次临时股东大会的法律意见书 天律意 2025 第 02704 号 致:科大国盾量子技术股份有限公司 根据《中华人民共和国公司法》(下称"《公司法》")、《中华人民共和 国证券法》（下称"《证券法》"）、中国证券监督管理委员会《上市公司股东 会规则》〈下称"《股东会规则》"）以及《科大国盾量子技术股份有限公司章 程》(下称"《公司章程》")的有关规定,安徽天禾律师事务所接受科大国盾 量子技术股份有限公司(下称"公司")的委托,指派本所费林森、盛建平律师 (下称"天禾律师")出席公司 2025年第五次临时股东大会(下称"本次股东 大会"）,并对本次股东大会相关事项进行见证,出具法律意见。 本法律意见书是天禾律师根据对本次股东大会事实的了解及对我国现行法 律、法规和规范性文件的理解而出具的。 天禾律师同意将本法律意见书作为本次股东大会的法定必备文件予以公告, 并依法对所出具的法律意见书承担责任。 天禾律师根据《证券法》相关规定的要求,按照律师行业公认的业务标准、 道德规范和勤勉尽责精神,对本次股东大会的 ...