Xin Lang Cai Jing·2025-12-24 03:34Core Viewpoint - The sudden passing of the chairman of Guoshield Quantum, Lv Pin, raises uncertainties for the company and its future direction in the quantum technology sector [3][18]. Company Overview - Guoshield Quantum (688027.SH) is recognized as the "first stock in quantum technology" and was established in May 2009, listing on the Sci-Tech Innovation Board in July 2020, focusing on quantum communication equipment manufacturing and quantum information system services [33]. - The company has a deep partnership with China Telecom, which has been a significant factor in its business operations since 2014 [33]. Recent Events - On December 18, 2023, Lv Pin, the chairman of Guoshield Quantum, passed away unexpectedly at the age of 46, leading to a police investigation that ruled out foul play [3][14]. - Following his death, Guoshield Quantum confirmed that the board would continue to function normally, with the management team maintaining their responsibilities [19]. Financial Performance - Guoshield Quantum has faced financial challenges, reporting revenues of 1.79 billion, 1.35 billion, 1.56 billion, and 2.53 billion yuan from 2021 to 2024, with corresponding net losses of 370.62 million, 861.85 million, 1.24 billion, and 318.41 million yuan [33]. - As of 2025, the company continues to operate at a loss, although the quarterly loss has narrowed significantly, with net losses of 20.31 million, 3.48 million, and 2.68 million yuan reported in the first three quarters [34]. Leadership Transition - Following Lv Pin's passing, the board appointed Ying Yong as the interim chairman and legal representative, who previously served as the company's chairman and president [19]. - The company emphasized that the board's composition remains compliant with legal standards, and it will expedite the process of electing a new chairman [19]. Market Reaction - After the announcement of Lv Pin's death, Guoshield Quantum's stock experienced a slight decline of 1.78% on December 19, but rebounded with a 2.94% increase by December 23, raising its market capitalization to approximately 53.4 billion yuan [19].