Core Viewpoint - The company has been investing in quantum computing since 2018, establishing strategic partnerships and applying research outcomes to various security products [1] Group 1: Investment and Strategic Partnerships - The company began its investment and layout in the quantum computing field in 2018 [1] - It invested in Anhui Wentiang Quantum and established a strategic cooperation with them [1] - In 2025, the company formed a strategic partnership with Xintong Quantum to enhance security products [1] Group 2: Application of Research Outcomes - The company has applied its research results in quantum cryptography, including quantum password communication, authentication, signing, and key generation, to products such as VPNs, bastion hosts, and signature verification servers [1] - The company is promoting deep adaptation of its security products with Xintong Quantum's quantum security service platform [1] - It is conducting application pilot projects with provincial and municipal mobile companies, aiming to create standardized implementation plans based on pilot experiences for large-scale replication in various industries [1]

Core Viewpoint - Geer Software (603232) has experienced a significant decline in stock price, dropping 13.0% from 26.77 CNY to 23.29 CNY as of November 14, 2025, with a current market capitalization of 5.452 billion CNY [1] Trading Information Summary - Geer Software reached a daily turnover rate of 20%, leading to its third appearance on the Shanghai and Shenzhen Stock Exchange's "Dragon and Tiger List" within five trading days as of November 10, 2025 [1][5] Company Announcement Summary - On November 13, 2025, Geer Software held its 31st meeting of the 8th Board of Directors and the 22nd meeting of the 8th Supervisory Board, approving multiple proposals for a simplified procedure to issue shares to specific targets [2] - The company finalized 12 issuance targets at a price of 17.09 CNY per share, raising a total of approximately 282.99 million CNY by issuing 16,559,391 shares [2][5] - The funds raised will be allocated to projects including the industrialization of anti-quantum password technology (investment of 160.28 million CNY, internal rate of return of 16.35%) and the research and industrialization of a trusted data space platform (investment of 89.35 million CNY, internal rate of return of 15.55%) [3] Fund Utilization Summary - The previous fundraising net amount was approximately 635.96 million CNY, with 511.67 million CNY utilized as of September 30, 2025, leaving 189.04 million CNY unspent, which accounts for 29.72% of the net amount [4] - Completed projects include "Intelligent Internet Security Technology R&D and Industrialization" and "Next-Generation Digital Trust Product R&D and Industrialization," with surplus funds redirected to "Data Security Management Platform R&D and Business Expansion" and permanent working capital [4][5]