L&K(SH:603929) Zheng Quan Shi Bao·2025-12-23 05:06Group 1: Quantum Technology Industry - The Chinese quantum technology industry is transitioning from academic research to commercialization, marking a significant shift in focus towards industrial application as outlined in the "14th Five-Year Plan" [6][10]. - Various provinces, including Jiangsu, Anhui, and Shanxi, are actively promoting the development of quantum technology and related industries, aiming to establish production capabilities in quantum computing, communication, and precision measurement [7][8][9]. - According to a report by Galaxy Securities, the global quantum technology industry is projected to reach a scale of $8 billion by 2024, with an average annual growth rate of 76.27% from 2024 to 2030, potentially reaching $908.9 billion by 2035 [9]. Group 2: Company Performance and Stock Market - Yaxing Integrated (603929) has seen its stock price reach a historical high of 108.31 yuan per share, representing an increase of 8.97 times compared to its low point over the past three years [2][3]. - The company reported a net profit of 442 million yuan for the first three quarters of the year, reflecting a year-on-year growth of 0.78% [3]. - Shareholder EVER CREATIVE has completed a reduction of approximately 1.16 million shares, accounting for 0.5446% of the company's total share capital [4]. Group 3: Research and Development in Quantum Technology - The research team at the University of Science and Technology of China has made significant advancements in quantum error correction, achieving a "below threshold, increasingly correct" outcome with their superconducting quantum processor [5]. - The new "full microwave quantum state leakage suppression architecture" developed by the team shows a significant reduction in logical error rates, demonstrating the potential for building scalable quantum computers [5]. - The R&D expenses of quantum technology-related stocks in the A-share market reached 70.814 billion yuan in the first three quarters, accounting for 3.83% of total revenue, with 18 stocks having R&D expenses exceeding 20% of their revenue [10][12].