量子科技专题报告（一）：全球量子科技产业化加速推进中

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1] Core Insights - Quantum technology has become a core battleground for major countries in technological competition, with over 30 countries and regions formulating or updating development strategies in the quantum information field, with investments exceeding $35 billion as of August 2025 [2] - Quantum computing is advancing through multiple technological routes, with significant improvements in qubit scale and logical gate fidelity, indicating a potential for substantial economic benefits once certain performance thresholds are surpassed [2] - The transition to post-quantum cryptography (PQC) is imperative due to the rapid development of quantum computing, which poses unprecedented challenges to traditional cryptography [2] - Investment recommendations include companies such as Guosheng Quantum, Keda Guokai, Weide Information, Guoxin Technology, Hexin Instruments, Geer Software, and Sanwei Xinan [2] Summary by Sections Section 1: Quantum Technology as a Core Battleground - The quantum era is accelerating, with 2025 marking the 100th anniversary of quantum mechanics, and the United Nations declaring it the "International Year of Quantum Science and Technology" [6] - China's industrial ecosystem, centered in Hefei, Beijing, and Shanghai, is forming a tripartite structure with Europe and the U.S., with breakthroughs in quantum error correction and application scenarios determining future competitiveness [7] Section 2: Quantum Computing Entering the First True Commercial Cycle - Quantum computing is crucial as it can solve problems that traditional supercomputers would take centuries to address in just minutes, unlocking immense value across various industries [30] - Current quantum computing is in the Noisy Intermediate-Scale Quantum (NISQ) era, where devices are prone to errors and lack a universal error correction method [32] - The development of quantum computing cloud platforms is becoming a core infrastructure, facilitating access to quantum computing resources and promoting application exploration [38] Section 3: The Coming Quantum Era and Accelerating the Construction of Post-Quantum Security - The rapid advancement of quantum computing threatens existing cryptographic systems, necessitating a shift to post-quantum solutions to secure sensitive information [46] - The urgency of migrating to post-quantum cryptography is highlighted, as existing public key systems may become vulnerable to quantum attacks by 2035 [50] - The integration of Quantum Key Distribution (QKD) and post-quantum cryptography (PQC) is proposed to create a comprehensive security infrastructure [54]