Core Insights - Quantum technology is a strategic emerging field crucial for national information security, experiencing rapid market growth under national strategic guidance, with China's market size projected to grow from 4.523 billion yuan in 2015 to 13.104 billion yuan in 2024, reflecting a compound annual growth rate of 12.55% [1][14] - Significant breakthroughs in quantum technology are anticipated globally in 2024, transitioning from theoretical research to practical applications, with advancements in quantum computing platforms and quantum communication systems [1][14] - The development of quantum technology is expected to drive the next technological revolution, providing new tools and perspectives for exploring the unknown [1][14] Industry Overview - Quantum technology integrates principles of quantum mechanics with information science, computing, and materials science, focusing on information acquisition, processing, and transmission through quantum effects [4][13] - The industry primarily encompasses three core areas: quantum computing, quantum communication, and quantum precision measurement [4][13] Industry Development History - The Chinese government has emphasized the importance of advancing quantum technology, with strategic planning and support increasing since 2020 [6][9] - Notable achievements include the successful development of the "Zu Chongzhi No. 3" quantum computing prototype in March 2025, positioning China among the global leaders in superconducting quantum computing [1][7] - Recent advancements include the establishment of a 300-kilometer quantum direct communication network, validating the feasibility of long-distance secure communication [1][7] Industry Policies - The Chinese government has prioritized quantum technology in its "14th Five-Year Plan," aiming to implement significant national projects in frontier fields like quantum information [9][10] - The upcoming "15th Five-Year Plan" is expected to further promote quantum technology as a new economic growth point, alongside other emerging industries [9][10] Industry Value Chain - The quantum technology industry chain includes upstream components and technology development, midstream core equipment and system development, and downstream applications across various sectors such as cloud computing, finance, and defense [10][11] Market Size and Trends - The global quantum technology market is projected to reach $8.02 billion in 2024, with a year-on-year growth of 10.77%, and is expected to grow to $11.93 billion by 2025 [13] - Quantum computing dominates the market, accounting for 64.92% of the total, with North America leading in technological breakthroughs and industry applications [13][14] Key Companies - Major players in the Chinese quantum technology sector include China Great Wall Technology Group, Keda Technology, State Grid Information Communication, and others, contributing to a diverse competitive landscape [2][16] - China Great Wall Technology has reported significant growth in its computing industry, achieving a revenue of 5.148 billion yuan in the first half of 2025, a year-on-year increase of 9.63% [16] - Wuhan Guangxun Technology focuses on optical electronic devices and has seen a substantial increase in revenue from its data and access business, growing by 149.16% year-on-year in the first half of 2025 [16][17] Future Development Trends - Quantum computing is expected to overcome hardware performance bottlenecks, enhancing stability and developing new quantum bit architectures [17] - Quantum communication aims to establish broader and faster quantum key distribution networks, facilitating the construction of a future quantum internet [18] - Quantum measurement technology is anticipated to achieve significant precision improvements, expanding its applications in various fields [19]

Core Viewpoint - Tianhai Defense (300008.SZ) announced that its second-largest shareholder, China Great Wall Asset Management Co., Ltd. (referred to as "Great Wall Asset"), plans to reduce its stake in the company by up to 17.28 million shares, accounting for 1% of the company's total share capital, within three months after the announcement of this reduction plan [1] Summary by Relevant Categories Shareholder Actions - Great Wall Asset intends to reduce its holdings through centralized bidding or block trading methods [1] Shareholding Impact - The planned reduction represents a decrease of 1% in the total share capital of Tianhai Defense [1]

Core Viewpoint - Tianhai Defense (300008) announced that its second-largest shareholder, China Great Wall Asset Management Co., Ltd. (referred to as "Great Wall Asset"), plans to reduce its stake in the company by up to 17.28 million shares, representing 1% of the total share capital [1] Summary by Relevant Sections - **Shareholder Information** - Great Wall Asset holds 89.4292 million shares in Tianhai Defense, accounting for 5.18% of the total share capital [1] - **Reduction Plan** - The reduction will occur within three months after the announcement, starting 15 trading days from the date of the announcement [1] - The reduction will be executed through centralized bidding or block trading methods [1]

Core Viewpoint - Hunan Silver (002716.SZ) announced that its shareholder, China Great Wall Asset Management Co., Ltd. (referred to as "Great Wall Asset Management"), plans to reduce its holdings in the company by up to 55 million shares, representing 1.95% of the total share capital, within a three-month period from December 11, 2025, to March 10, 2026 [1] Summary by Category - **Shareholder Action** - Great Wall Asset Management intends to reduce its stake in Hunan Silver through centralized bidding and block trading methods [1] - The planned reduction will not exceed 55 million shares [1] - **Impact on Company** - The reduction represents 1.95% of Hunan Silver's total share capital [1] - **Timeline** - The reduction period is set from December 11, 2025, to March 10, 2026 [1]

Core Viewpoint - China Great Wall Asset Management Co., Ltd. plans to reduce its stake in Hunan Silver (002716) by up to 55 million shares, representing 1.95% of the company's total share capital [1] Group 1 - The shareholder, China Great Wall Asset Management, holds 5.63% of Hunan Silver's shares [1] - The reduction will occur through centralized bidding and block trading methods [1] - The total number of shares to be sold is capped at 55 million [1]

Core Points - The company, China Great Wall Technology Group Co., Ltd., will participate in the 2025 Shenzhen-listed companies' investor online collective reception day activity [1] - The event aims to enhance interaction and communication with investors [1] - The online event is scheduled for November 20, 2025, from 14:30 to 17:00 [1] - Investors can participate through the "Panorama Roadshow" website, WeChat public account, or by downloading the Panorama Roadshow APP [1] - The company's Chief Financial Officer, Ms. Song Jindi, and Board Secretary, Mr. Ji Jianxiong, will communicate with investors via online text [1]

Core Viewpoint - The signing of the cooperation agreement between China Great Wall Asset Management Beijing Branch and China Resources Asset Management marks the commencement of substantial operations for the Fengtai Majia堡 project, which is a shopping center covering over 60,000 square meters in Beijing [1] Group 1: Project Overview - The Majia堡 project is located in Fengtai District, Beijing, and encompasses a shopping center of over 60,000 square meters [1] - China Great Wall Asset Management Beijing Branch acquired the property rights through judicial debt recovery [1] Group 2: Partnership Details - China Resources Asset Management is a key platform for "special asset investment and operation" developed by China Resources Group [1] - The partnership will focus on providing asset renovation direction and operational planning suggestions based on the project's commercial brand positioning [1] Group 3: Operational Strategy - The agreement signifies the entry of the Majia堡 project into a substantial operational phase [1] - The collaboration aims to create a full-cycle revitalization model encompassing "asset debt recovery - renovation and restoration - operational enhancement - disposal and exit" [1]

Core Viewpoint - China Great Wall Technology Group Co., Ltd. is enhancing investor engagement by participating in the "2025 Annual Collective Reception Day for Listed Companies in Shenzhen" on November 20, 2025 [1] Group 1 - The event is guided by the Shenzhen Securities Regulatory Bureau and the China Securities Investor Services Center [1] - The event is co-hosted by the Shenzhen Listed Companies Association and Shenzhen Panorama Network Co., Ltd. [1]

证券代码：000066 证券简称：中国长城 公告编号：2025-055 特此公告 中国长城科技集团股份有限公司 董事会 二O二五年十一月十八日 第 1页 共 2页 中国长城科技集团股份有限公司 关于参加2025年度深圳辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，中国长城科技集团股份有限公司（以下 简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市 公司协会与深圳市全景网络有限公司联合举办的"2025 年度深圳辖区上市公司 集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 11 月 20 日（周四）14:30-17:00。届 时公司财务总监（总会计师）宋金娣女士，董事会秘书季健雄先生将通过网络文 字交流形式与投资者进行沟通，欢迎广大投资者踊跃参与。 中国长城科技集团股份 ...

Core Viewpoint - China Great Wall's stock price has shown fluctuations with a year-to-date increase of 11.05%, while recent trading periods have seen minor declines and increases, indicating a mixed performance in the market [2]. Group 1: Stock Performance - As of November 17, China Great Wall's stock rose by 2.02%, reaching a price of 16.18 CNY per share, with a trading volume of 277 million CNY and a turnover rate of 0.53%, resulting in a total market capitalization of 52.193 billion CNY [1]. - The stock has experienced a 0.12% decline over the last five trading days, a 1.06% increase over the last 20 days, and a 9.10% decline over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, China Great Wall reported a revenue of 10.295 billion CNY, reflecting a year-on-year growth of 7.18%, while the net profit attributable to shareholders was 16.067 million CNY, marking a significant increase of 102.34% [2]. - The company has distributed a total of 1.855 billion CNY in dividends since its A-share listing, with 22.5806 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for China Great Wall was 390,400, a decrease of 1.30% from the previous period, with an average of 8,261 circulating shares per shareholder, which is an increase of 1.31% [2]. - The top circulating shareholder is Hong Kong Central Clearing Limited, holding 43.0053 million shares, an increase of 4.6707 million shares from the previous period [3].