计算机：量子科技：全球研发应用加速，中美开启新一轮科技竞争

Investment Rating - Overweight [3] Core Views - Quantum technology is accelerating globally, with the US and China entering a new round of technological competition [1] - Overseas companies are accelerating R&D and application of quantum computing technology, with significant progress in mergers, acquisitions, and collaborations [1][8] - China has made significant progress in quantum computing, with the successful completion of the world's largest quantum computational fluid dynamics simulation on the domestically developed superconducting quantum computer "Origin Wukong" [9] - Quantum information has become a new frontier in the US-China tech competition, with both countries making strategic moves to advance their capabilities [15][16] Overseas Companies' Progress - IonQ reported Q3 revenue of $12 4 million, a 102$63 5 million [1] - IonQ announced the acquisition of Qubitekk, a quantum networking company, to strengthen its position in the quantum networking industry [1] - IonQ partnered with Ansys to integrate quantum computing into the $10 billion computer-aided engineering (CAE) industry [1] - IonQ collaborated with NKT Photonics and IMEC to develop next-generation laser systems and photonic integrated circuits for quantum computing [1] - Google partnered with NVIDIA to simulate the physical properties of next-generation quantum processors using NVIDIA CUDA-Q and Eos supercomputers [2] - Microsoft and Quantinuum successfully completed 14,000 error-free quantum computing operations, reducing error rates by 800 times [2][8] - Quantinuum announced its fifth-generation quantum computer, Apollo, aiming to achieve fault-tolerant quantum computing by 2030 [8] China's Quantum Computing Progress - The domestically developed superconducting quantum computer "Origin Wukong" completed 270,000 quantum computing tasks from 133 countries and achieved its first overseas sale of quantum computing power [9] - Origin Quantum ranked first in the number of quantum computing patents, with 363 new patents from 2021 to 2024, surpassing IBM's 212 new patents [9] - China has accumulated 3,217 quantum-related patents, surpassing the US's 2,740 patents [9] - China's quantum computing capabilities are in the first tier globally, though there is still a gap in application ecosystems compared to the world's leading edge [13] US-China Quantum Tech Competition - The US added 22 Chinese quantum technology entities to its Entity List, including prominent research institutions like the Beijing Academy of Quantum Information Sciences and Origin Quantum [16] - The US government issued new regulations restricting investments in China's semiconductor, quantum technology, and AI sectors [16] - China has prioritized quantum technology in its national strategy, with multiple government departments issuing policies to promote quantum information technology development [15]