中国单光子探测有了"火眼金睛" 单光子探测器可以比作具备超凡视力的"眼睛"，而该探测器则被研发人员称为"火眼金睛"。它能精准识 别单个光子，是量子密钥分发、生物荧光成像、激光雷达等系统的核心组件。此前国际上仅有单通道的 同类工程化产品，复杂探测场景下需多台协同，传统制冷工艺也限制了探测能力的提升。 本文为转载内容，授权事宜请联系原著作权人 据安徽省量子信息工程技术研究中心主任唐世彪介绍，研发团队依托中国科学技术大学、中国科学院量 子信息与量子科技创新研究院的专利与技术基础，历经三年时间攻克多项技术难题。目前，该探测器单 个制冷器的最低工作温度从-50℃降至-120℃，在20%探测效率下，暗噪声水平降低约90%，达到约 100Hz的超低值，这意味着探测器误判信号的概率大幅下降。 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 唐世彪介绍，该探测器设备采用国际首创的四通道集成架构，体积仅为国际同类单通道产品的九分之 一，最大探测效率从25%提升至35%，单台即可完成过去多台探测器的工作，进一步提 ...

2025 年 10 月 10 日 分析师：陈伟光 S0340520060001 电话：0769-22119430 邮箱： chenweiguang@dgzq.com.cn 周 报 分析师：罗炜斌 S0340521020001 电话：0769-22110619 邮箱：luoweibin@dgzq.com.cn SAC 执业证书编号： S0340524070002 电话：0769-22119302 邮箱： chenzhanqian@dgzq.com.cn 资料来源：东莞证券研究所，iFind 相关报告 通信行业 超配（维持） 通信行业双周报（2025/9/26-2025/10/9） 行 业 全球电信设备市场止跌复苏 | 1、通信行业行情回顾 | | 3 | | --- | --- | --- | | 2、产业新闻 | | 4 | | 3、公司公告 | | 5 | | 4、行业数据更新 | | 6 | | 4.1 | 通信运营用户规模数据 | 6 | | 4.2 光纤光缆数据 | | 7 | | 4.3 5G 发展情况 | | 8 | | 5、通信板块本周观点 | | 8 | | 6、风险提示 | | 9 | 投资 ...

7月29日，我国首条拥有完全自主知识产权的反谐振空芯光纤在粤港澳大湾区率先商用，并在深港两地 落地。 作为光通信领域的颠覆性技术，反谐振空芯光纤专线将跨境双向时延压缩至1毫秒，光纤损耗实测值更 是创下全球商用光纤最低纪录。整条链路从光纤结构、制备工艺到系统设备实现了全国产化闭环，具备 完全自主知识产权。 这标志着我国在下一代光通信核心技术领域，已实现从实验室原型到商业化产品的跨越。 习近平总书记指出，"建设网络强国，要有自己的技术，有过硬的技术"。这对科技支撑网络强国建设提 出了明确要求。 "十四五"规划提出，迎接数字时代，激活数据要素潜能，推进网络强国建设。 5年来，我国从网络大国阔步迈向网络强国，网络基础设施全球领先，关键核心技术加速突破，融合应 用赋能效应日益凸显。网络强国的宏伟蓝图，正逐步从愿景变为现实。 基础设施升级，夯实发展底座 今年3月，我国在国际上首次实现量子微纳卫星与小型化、可移动地面站之间的实时星地量子密钥分 发。这是我国首次实现上万公里星地量子通信，为实用化卫星量子通信组网铺平了道路。 随着量子卫星及地面站低成本、小型化、密钥分发与提取技术持续突破，以及地面光纤量子保密通信网 络建设，我 ...

国盾量子 20251009 摘要 国盾量子业务覆盖量子通信、量子计算和量子精密测量三大领域，全球 稀缺，2025 年上半年营收同比增长 74.5%至 1.2 亿元，毛利率维持在 50%左右，手持订单超 2.2 亿元，未来订单预期乐观。 量子通信领域，国盾量子是国内最大供应商，市占率超 90%，已完成 20 余座城市城域网建设，并参与国际项目。中国电信入股后，加速城市 间组网建设，预计 2030 年完成 100 个城市城域网建设。 量子计算领域，国盾量子依托中科大技术平台，参与祖冲之三号研究， 在测控设备、稀释冷机等方面领先。2025 年上半年该领域营收同比增 长近三倍至 5,600 万元，并签订多笔大额订单。 量子精密测量方面，冷原子重力仪产品表现突出，已完成两笔订单并确 认营收，另有三笔冷原子钟订单，单价约 300 万元。该领域未来在矿场 勘测和地下结构勘探方面有增长潜力。 中国电信入股为国盾量子提供平台支持，加速城市间通信组网建设，提 升市场份额，并带来大额订单，如 6,400 万元整机订单有望在明年交付， 巩固行业领军地位。 Q&A 国盾量子公司在 A 股市场中的地位如何？ 国盾量子是目前 A 股市场上 ...

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, indicating an expectation of returns exceeding the market benchmark by more than 5% [6][17]. Core Insights - The Nobel Prize in Physics awarded for quantum science research is expected to enhance the attention of governments and leading tech companies towards the industrialization of quantum technology, accelerating its commercialization process [3][10]. - The research recognized by the Nobel Prize lays a theoretical foundation for the industrialization of quantum technology, with significant contributions from the awarded scientists in developing superconducting circuits and quantum bits [9][10]. - Recent advancements in quantum technology, such as the installation of the first quantum computer in a data center in New York City, signify a shift from laboratory research to practical applications in the industry [9][10]. Summary by Sections Investment Recommendations and Targets - The report suggests focusing on leading domestic quantum technology companies, including Guandun Quantum, Guoxin Technology, Tengjing Technology, and Huagong Technology, as potential investment targets [3][10]. Industry Overview - The report highlights the growing interest in quantum technology following the Nobel Prize announcement, with expectations for increased investment and development in quantum computing, communication, and measurement technologies [9][10].

该校智慧交通车路协同工程研究中心负责人石琴教授介绍，智能网联汽车的通信安全存在诸多问题，例 如数据泄露风险，重要数据和个人隐私难以保障，恶意远程控车可能直接威胁行车与生命安全等。其团 队开展智能网联汽车信息安全基础技术、数据安全与隐私防控、安全通信及入侵检测和车用AI大模型 等方面的研究，同省内头部汽车企业开展合作，目前，量子安全技术已实现量产应用。 "几十年的发展，汽车经历了从机械结构到电子化的革命。如今，人工智能重塑汽车产业结构。只有培 养终身学习能力和意识，才能跟上科学技术发展的脚步。"石琴常对青年师生说，"时代提出一轮又一轮 新课题，我们要致力于解决民族汽车行业发展中面临的共性问题。" 终身学习的理念，也是杨善林院士一直倡导践行的。 1978年，30岁的杨善林考取合肥工业大学，研究生毕业后他留校任教。他认为，计算机未来有广阔的应 用前景，关键是如何培养人才。为此，他开设了计算机系统结构等课程，也成为该校出了名的"拼命三 郎"。年轻时，为了完成一套光纤系统网络图，他把图铺在床板上弯腰画了20多天，腰椎落下病根；70 岁时，他不慎摔伤胳膊，依然打着石膏每天到实验室工作…… 近年来，由杨善林主持研发的智能微 ...

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 550.41 RMB based on a 2026 PS of 100x [4]. Core Viewpoints - The company is positioned to benefit from strong policy support and is expected to accelerate its growth in the quantum technology sector, which has been highlighted as a core area for future industrial development by the government [2]. - The company has shown significant revenue growth across its business segments, particularly in quantum computing, which has seen a remarkable increase of 283.92% in revenue [3][28]. - The company is expected to gradually overcome its low profitability issues, with a forecasted return to profitability in 2025, driven by revenue growth and improved cost management [3]. Summary by Sections Company Overview - Established in 2009, the company focuses on the R&D, production, and sales of quantum communication, quantum computing, and quantum precision measurement products, holding strong technical and cost advantages [1]. - In 2024, the company raised 1.775 billion RMB through a private placement, with China Telecom Quantum Group becoming the controlling shareholder [1]. Investment Logic - The quantum technology sector is receiving increased government investment, with over 2 billion USD allocated in 2024, positioning the company for accelerated growth [2]. Growth Potential - Revenue from quantum computing, quantum communication, and quantum precision measurement reached 55.96 million, 51.74 million, and 8.57 million RMB respectively in the first half of 2025, with significant year-on-year growth [3][28]. - The company is optimizing operational efficiency and reducing costs, with a notable decrease in sales and management expense ratios [3][29]. Financial Forecast and Valuation - Projected revenues for 2025, 2026, and 2027 are 371 million, 566 million, and 900 million RMB, respectively, with corresponding net profits of 24 million, 37 million, and 87 million RMB [4][8]. - The company is expected to achieve a significant increase in profitability, with a forecasted EPS of 0.23 RMB in 2025 [4]. Business Segments - The company has a diversified product portfolio across three main areas: quantum computing, quantum communication, and quantum precision measurement, each contributing to its growth [15][25]. - The quantum communication segment is particularly strong, with the company being a leading supplier of quantum communication devices in China [15][34]. Market Trends - The quantum communication market is projected to grow significantly, with an expected market size of 93.7 billion RMB by 2025, driven by increasing demand for secure communication technologies [40][44].

Investment Rating - The report maintains an "Outperform" rating for the company [4][8]. Core Insights - Quantum computing drives significant revenue growth, with a 74.54% year-on-year increase in H1 2025, and quantum computing revenue specifically rising by 283.92% [9]. - The synergy with China Telecom is becoming increasingly significant, transitioning quantum communication into an information security infrastructure, which is expected to enhance user convenience and accelerate industry growth [10]. - The commercialization of quantum computing is accelerating, highlighted by the successful delivery of the 504-qubit superconducting quantum computer "Tianyan-504" to China Telecom and a breakthrough in overseas markets with a 25-qubit delivery [11]. Financial Summary - The projected revenue for the company from 2025 to 2027 is estimated at 0.36 billion, 0.49 billion, and 0.64 billion RMB respectively, with earnings per share (EPS) expected to be 3.54, 4.80, and 6.22 RMB [4][8]. - In H1 2025, the company reported a net profit attributable to shareholders of -23.79 million RMB, with a recurring net profit of -46.75 million RMB [9]. - The company’s total revenue for 2023 is reported at 156 million RMB, with a projected increase to 640 million RMB by 2027, reflecting a compound annual growth rate (CAGR) of approximately 29.7% [3].

Core Viewpoint - The company, Guangku Technology, indicated that its wavelength division multiplexers and other general optical fiber devices can be applied in the optical communication field, including quantum communication, but the revenue contribution from these products is relatively low, thus having a minor impact on the company's overall performance [1] Group 1 - The company's products include wavelength division multiplexers and general optical fiber devices [1] - These products are applicable in the optical communication sector, specifically in quantum communication [1] - The revenue contribution from these products is low, resulting in minimal impact on the company's operational performance [1]

在这一背景下，由《财经》新媒体发起主办的第八届"新奖"榜单正式启动，包括新科技、新消费、新价值三大领域。我们希望通过每年的甄 选，促进新的技术突破，洞察新的消费趋势，也助力新的价值创造。 在榜单遴选过程中，《财经》新媒体协同智慧支持机构将秉承客观、公正、权威的原则，全方位发现和评析各领域市场参与者在这一年实现的 创新发展。 榜单设置 2025年，全球经济在复杂多变的局势中探索前行，中国经济在政策引导与内生动力的持续推动下，展现出韧性与活力。科技驱动的生产力变 革、消费模式的深度转型以及金融市场的结构性调整，成为影响全年经济走向的核心力量。 科技领域无疑是2025年宏观经济中最引人注目的增长点。人工智能、量子通信等前沿技术加速从实验室走向产业化，成为推动各行业升级的重 要引擎，助力新质生产力的培育和高质量发展。数据显示，中国AI专利申请量占全球总量60%，继续保持领先地位。同时，量子计算、6G通 信、脑机接口等技术加速商业化，科技企业在算力竞争中的投入持续加码。这些发展不仅会重塑多个行业，也会为中国经济注入新的活力。 受全球经济增速放缓影响，消费者更加理性，"性价比消费"成为主流。宏观政策将"全方位扩大国内需求 ...