炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：时代周报 合肥市华佗巷777号园区内，冬日的寒风吹过国盾量子（688027.SH）的玻璃幕墙，园区门口的保安正 四处张望，留意着进出门口的车辆和人群。 站在园区门口，时代周报记者能清晰看到办公楼上"科大国盾量子"与"中电信量子"两大显眼标识，而在 12月18日下午，这家上市公司的董事长吕品，在办公室内猝然离世，年仅46岁。 事发后，网上开始流传相关讯息。当天22时24分，合肥高新公安分局通过合肥警方公众号发布警情通 报，将逝者标注为"吕某"，并称其在合肥望江西路与孔雀台路交口某公司一办公室内失去意识，同时给 出关键结论："经公安机关勘查调查，已排除案件"，提示网民"不造谣、不传谣、不信谣"。 就在十分钟后，国盾量子也发布公告，证实逝者"吕某"正是公司董事长吕品。公告披露，吕品生于1979 年7月，2025年5月起出任公司董事长，同时兼任战略与投资委员会主任委员、薪酬与考核委员会委员。 当日，国盾量子收盘时的总市值为508亿元。而这位上任不足7个月的董事长，则以一种猝不及防的方式 离开人世，给市场留下了许多悬念。12月19日，时代周 ...

Core Viewpoint - The second China "Quantum Science Popularization Works Evaluation Activity" was held, recognizing significant contributions in the field of quantum science communication, with Zhang Chaoyang's book receiving special mention for its depth and rigor in exploring quantum mechanics [1][4]. Group 1: Event Overview - The event was co-hosted by the University of Science and Technology of China and the Chinese Academy of Sciences, showcasing top-tier achievements in quantum technology [1][5]. - Over two years, 180+ popular science works were collected, from which 28 high-quality works were selected for recognition [2][6]. Group 2: Book Highlights - "Zhang Chaoyang's Physics Class Volume 3" focuses on quantum mechanics, providing a detailed exploration of physical images and mathematical methods, guiding readers towards contemporary physics [2][6]. - The book is described as a "hardcore 'physical declaration'" that serves as a precise guide beyond traditional textbooks, offering a unique perspective on quantum mechanics [2][6]. Group 3: Reception and Impact - The book has been recommended by several academicians and is recognized as a valuable resource for exploring the quantum world [3][7]. - It has been noted for its practical and guiding characteristics, providing a complete set of quantum mechanics calculation tools [3][7]. - The award reflects societal support for high-quality science communication and the importance of promoting scientific innovation in the context of national strategic technology [4][7].

主流技术路径尚未收敛，产业链中上游是发展重点 量子计算产业链上游主要涵盖量子芯片、环境与测控系统以及其他关键元器件，主流技术路径尚未收敛 导致产业链上游尚未形成清晰竞争格局。产业链中游主要涵盖量子计算机整机以及软件算法，基于整机 成本高企及软件算法复杂性考量，云平台或将成为量子计算向下游加速渗透的关键环节。产业链下游主 要涵盖科研、金融、化工、制药等众多领域，目前尚未展现出指数级加速或量子优越性方面的规模化突 破，从理论研究到商业化落地有望进一步探索。 中信建投主要观点如下： 量子计算重塑计算边界，引领未来产业发展 量子计算利用量子力学现象可破除经典计算瓶颈、重塑计算边界，已经逐步进入含噪声的中等规模量子 时代，超导、离子阱、光量子以及中性原子等主流技术路径齐头并进，共同推进量子计算实用化、规模 化。我国"十五五"规划将量子科技列为未来产业之首，工信部牵头筹建量子信息标准化技术委员会，初 步明确了量子科技产业发展蓝图。全球主要国家纷纷加码量子战略布局，加速抢占发展先机，量子科技 已然成为全球新的角力场。 智通财经APP获悉，中信建投发布研报称，2025年是"国际量子科学与技术年"，亦是量子科技加速从理 论研究 ...

2025年是"国际量子科学与技术年"，亦是量子科技加速从理论研究向产业应用迈进的关键之年。全球主 要国家纷纷加码量子战略布局，我国"十五五"规划建议将量子科技列为未来产业之首，量子科技已然成 为全球新的角力场。 中信建投（601066）证券指出，量子计算作为量子科技皇冠上的宝石，技术壁垒最高、颠覆性最强、成 长潜力最大，有望通过实现指数级算力突破重塑经典计算边界，是下一代科技革命的关键引擎。当前， 量子计算正处在含噪声的中等规模量子时代，超导、离子阱、光量子以及中性原子等主流技术路径齐头 并进、尚未收敛，产业链中上游是发展重点。量子计算产业正迎来高速增长阶段，2035年全球市场规模 有望超过8000亿美元，下游正处于发展初期，但成长潜力巨大、值得期待。 ...

Core Viewpoint - Pudong is celebrating the fifth anniversary of its development as a leading area for socialist modernization, facing new domestic and international challenges, and must develop further plans to enhance high-level opening-up and institutional openness [1] Group 1: Innovation and Technology - Over the past five years, Pudong has significantly improved its innovation capabilities, with fiscal science and technology investment increasing from 3.9% of the general public budget in 2020 to 9.2%, leading to an average annual growth of 11.2% in R&D investment [2] - Experts suggest that Pudong should focus on artificial intelligence, synthetic biology, and quantum technology to accelerate the development of application scenarios and the commercialization of technology [2] - To achieve high-quality development, Pudong must demonstrate leadership in high-level technological self-reliance, particularly in strategic fields like integrated circuits and life sciences [2] Group 2: External Environment and Trade - Despite changing external conditions, China's commitment to opening up remains steadfast, with Pudong expected to enhance its international competitiveness in modern service sectors such as finance and technology [3] - Pudong's internationalization is supported by a concentration of world-class enterprises, which can leverage advantages in technology, finance, logistics, and professional services to drive trade development [3] Group 3: Resource Allocation and Collaboration - Recommendations include enhancing collaboration between Shanghai and Shenzhen to improve global resource allocation capabilities, with Shanghai leading in cross-border payment systems and Shenzhen excelling in fintech innovations [3] - The establishment of a new mechanism for the cross-border flow of cultural data is highlighted as a key task for the "15th Five-Year Plan" period, aiming for efficient and secure data movement [3] Group 4: Business Development and Supply Chain - Pudong aims to strengthen its role as a hub for multinational companies and outbound enterprises by enhancing its service capabilities and supporting supply chain integration [5] - The focus is on leveraging Pudong's financial institutions and professional service organizations to improve the comprehensive service level for outbound enterprises [5]

明日主题前瞻 1、无人驾驶 | 12月23日，北京市首批L3级高速公路自动驾驶车辆专用号牌由北京市公安局交通管理局正式发放给三辆智能网联汽车，这也是国内首批发放 的L3级高速公路自动驾驶车辆专用号牌。这标志着我国自动驾驶车辆已由测试示范进展到正式量产，率先开启L3级自动驾驶时代，成为汽车智能化进程中 的里程碑事件。 点评：研究机构认为，随着特斯拉Robotaxi的持续放量验证，以及中国L3车型的制度化落地，高阶自动驾驶的产业拐点正在加速到来，并将深刻影响整车估 值体系与竞争格局。随着试点经验积累和法规逐步完善，L3功能有望从局部示范走向更广泛放开，2026年或成为中国L3级智驾量产落地的关键节点。 2、充电桩 | 交通运输部公路局局长周荣峰12月23日表示，2026年计划在全国高速公路服务区建设1万个以上的充电枪，其中大功率充电枪将不少于25%。对 重大节假日充电特别繁忙的服务区，以及日常充电设施时间利用率超过40%的繁忙服务区，新建的充电设施原则上均要采用大功率。 点评：中信证券认为，当前时点，在政策，技术，市场的合力推动下，车网互动的盈利模式日渐清晰，未来规模化，商业化发展路径明确，对相关充电设备 企业和 ...

Core Viewpoint - The article highlights the growing interest and investment in quantum technology, particularly in the context of China's "14th Five-Year Plan," which includes quantum technology as a strategic growth point for the new economy. The IPO wave in the quantum technology sector is beginning, with Guoyi Quantum Technology (Hefei) Co., Ltd. filing for an IPO on the Sci-Tech Innovation Board [1]. Company Overview - Guoyi Quantum focuses on the research and development of high-end scientific instruments, providing advanced scientific equipment and solutions for various fields, including quantum technology, materials science, and biomedicine [1][4]. - The company has launched several products, including electron paramagnetic resonance spectrometers and scanning electron microscopes, breaking the long-standing dominance of international giants in certain segments of the domestic market [4]. Revenue Composition - From 2022 to the first half of 2025, the revenue share from quantum information technology and spin resonance decreased from 49.32% to 25.26%, while the revenue share from electron microscope series increased from 24.46% to 56.02% [5][6]. - The company’s revenue figures for the years 2022 to 2025 (first half) are approximately 151 million, 400 million, 501 million, and 171 million respectively, with corresponding net losses of approximately -129 million, -146 million, -86 million, and -76 million [11]. Market Dynamics - The global market for laboratory analytical instruments is projected to grow from $82.95 billion in 2024 to $101.58 billion by 2029, with an average annual growth rate of 4.1% [12]. - China's laboratory analytical instrument market is expected to reach $9.28 billion in 2024, with a compound annual growth rate of 4.7% from 2024 to 2029, positioning it as the second-largest market among major economies [14]. Competitive Landscape - The high-end scientific instrument market in China has been dominated by foreign manufacturers, with over 75% of large scientific instruments in universities and research institutions being imported [18]. - Guoyi Quantum faces challenges in terms of historical accumulation, operational scale, product matrix, financial strength, market share, and brand recognition compared to established players like Thermo Fisher and Agilent [18]. Management and IPO Details - Guoyi Quantum, established in 2016, is led by a young management team, including a 1992-born chairman and general manager, He Yu, who has a PhD from the University of Science and Technology of China [21]. - The company aims to raise approximately 1.169 billion for projects related to high-end scientific instrument industrialization, quantum technology research, and application center network construction [22].

相关报告 分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 电池贵金属领涨 A 股小幅上行 ——市场分析 《市场分析：成长行业领涨 A 股震荡上行》 2025-12-22 《市场分析：航天医药行业领涨 A 股小幅上 行》 2025-12-18 《市场分析：通信金融行业领涨 A 股震荡上 行》 2025-12-17 联系人： 李智 电话： 0371-65585629 地址： 郑州郑东新区商务外环路10号18楼 地址： 上海浦东新区世纪大道 1788 号 T1 座 22 楼 证券研究报告-市场分析 发布日期：2025 年 12 月 23 日 投资要点： ◼ A 股市场综述 周二（12 月 23 日）A 股市场冲高遇阻、小幅震荡上行，早盘股指高 开后震荡上行，盘中沪指在 3937 点附近遭遇阻力，午后股指维持震 荡，盘中电池、能源金属、电源设备以及贵金属等行业表现较好； 旅游酒店、教育、房地产服务以及航天航空等行业表现较弱，沪指 全天基本呈现小幅震荡上行的运行特征。创业板市场周二震荡上 扬，创业板成分指数全天表现强于主板市场。 ◼ 后市研判及投资 ...

| 代码 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | | --- | --- | --- | --- | | 003029 吉大正元 | 28.41 | 1.54 | 5.73% | | 000543 皖能电力 | 8.80 | 0.42 | 5.01% | | 688027 国盾量子 | 524.94 | 20.90 | 4.15% | | 688561 奇安信-U | 35.42 | 0.86 | 2.49% | | 300757 | 217.62 | 4.62 | 2.17% | | 300520 科大国创 | 37.23 | 0.70 | 1.92% | | 002212 天融信 | 8.85 | 0.14 | 1.61% | 据ETO Markets的消息，2025年12月23日，沪深港三地市场携手高开，在全年成交额首次突破400万亿元 的历史纪录衬托下，A股迎来"收官周"的暖场戏。 国内商品指数刷新半年高位，与A股400万亿成交遥相呼应，共同勾勒出一幅"股期联动、通胀交易"的 跨年图景。 展望后市，机构普遍认为，在政策"稳中求进"与流动性合理充裕的组合下，A股有望延续"权重搭台、 题材唱戏"的结 ...

人民财讯12月23日电，中国量子科技产业正从学术研究向商业化落地迈进。基于超导量子处理器"祖冲 之3.2号"，潘建伟院士团队在量子纠错方向上实现了"低于阈值，越纠越对"的重大进展，为量子计算机 走向实用奠定了重要基础。相关成果12月22日在国际学术期刊《物理评论快报》发表。 "十五五"规划建议将量子科技确立为新的经济增长点，标志着我国量子计算的发展重心，正从实验室验 证阶段加速向产业化落地阶段转移。近期多地发布的"十五五"规划建议稿，也重点提及布局量子科技产 业。 据数据宝统计，截至12月22日收盘，上述这10只机构预测高增长的概念股当中，12月以来融资净买入超 1亿元的有5只，分别是航天电子、华工科技、科华数据（002335）、光迅科技、国盾量子。 未来增长潜力方面，根据5家以上机构一致预测，2026年、2027年净利润增速均有望超20%的量子科技 概念股有10只，如中科曙光（603019）、华工科技（000988）、航天电子（600879）、光迅科技 （002281）、国盾量子等。 ...