广电计量前三季度实现营业收入24.16亿元，同比增长11.86%，第三季度实现营业收入9.37亿元，同比 增长14.91%；前三季度归母净利润2.38亿元，同比增长26.51%，第三季度实现归母净利润1.41亿元，同 比增长29.73%。 其中，公司计量校准业务前三季度营业收入同比增长0.46%，第三季度营业收入基本持平。可靠性与环 境工程业务，前三季度营业收入同比增长17.05%，第三季度营业收入同比增长16.03%。集成电路测试 与分析业务，前三季度营业收入同比增长21.31%，第三季度营业收入同比增长27.94%。电磁安全与认 证业务，前三季度营业收入同比增长13.56%，第三季度营业收入同比增长16.44%。数据科学分析与评 价业务，前三季度营业收入同比增长96.10%，第三季度营业收入同比增长205.37%。 据了解，西南检测基地建成后，广电计量将在成都获得可持续发展的办公和实验场所，既能摆脱租赁场 地在建筑结构、拓展空间上对业务发展的制约，也能规避租赁场地到期搬迁对实验室正常运营的不利影 响与风险，为公司长远经营规划和持续竞争力提升提供保障。同时，项目还将帮助公司降低物业租金等 运营成本，提升盈利 ...

今年是量子力学诞生100周年，联合国教科文组织宣布今年为"国际量子科学与技术年"。 从1900年普朗克提出量子假说，到1925年矩阵力学和波动力学的诞生标志着量子力学初步形成，量子力学的建立堪称科学史上范式革命的 典范，不仅为基础科学提供了深刻的启示，还催生了众多革命性的技术应用。 成功构建超导量子计算原型机"祖冲之三号"、实现上万公里星地量子通信、成功研制量子磁力仪等量子传感器……今年以来，我国在量子 计算、量子通信、量子测量等领域不断取得新突破，进一步提高了利用量子技术获取、传输和处理信息的方式和能力。 量子计算：加速技术迭代攻关 如果把量子科技比作一架"飞机"，那么量子计算、量子通信和量子测量则相当于飞机的"发动机""无线电"和"雷达"，分别用来获取更强算 力、更安全通信和更精准的测量。 量子计算的发展最早可以追溯到上世纪80年代，随后几十年里，理论物理学家不断完善其理论基础。近年来，随着科学技术的不断发展， 量子计算逐渐从构想迈入实践，成为国际科技前沿领域的一大热点。 "只有实现量子优越性，量子计算机才能成为'超强大脑'。"安徽省量子信息工程技术研究中心主任、科大国盾研发总监唐世彪介绍，科大 国盾目前 ...

中金公司（601995）认为，量子计算作为新一轮科技革命与产业变革的前沿方向，正加速从实验验证走 向商业化应用。随着全球科技巨头（谷歌、IBM、微软等）不断突破量子比特规模与纠错精度，中国 在"祖冲之""九章"等原型机实现多点超越，ICV预计全球量子计算市场规模在2024—2035年由50亿美元 增长至8000亿美元以上。其中，硬件环节先行受益，测控系统、稀释制冷机等核心设备有望早日进入量 产周期。中金公司判断，量子计算正处于由科研突破向商业落地的关键拐点，硬件环节或将率先实现产 业化突破。 国泰海通证券认为，1）量子计算处于早期突破阶段，量子纠错是关键。当前，量子计算已成为最具颠 覆性的前沿技术之一，并逐渐形成集基础科研、工程研发、应用探索和产业培育为一体的发展格局。 2）中国在QKD量子安全领域处于绝对领先地位。量子安全的实现路径一般包括基于数学的传统路径 （PQC）和物理安全路径（QKD）两类。中国已经形成了以QKD技术为核心的较为完整的量子保密通 信产业链。3）量子测量产业进入多元化发展周期。量子精密测量主要是利用量子状态对环境的高度敏 感，提升对时间、位置、加速度、电磁场等物理量的测量精度，涉及的方 ...

Core Viewpoint - Quantum measurement is identified as a significant application area in aerospace, aviation, and high-end chip precision measurement, indicating a broad market demand outlook [1] Company Focus - The company is currently concentrating on building testing capabilities in aerospace and high-end chips, with quantum measurement being a key area of development [1] - The company is increasing collaboration discussions with relevant industry professional institutions to establish a quantum testing research team [1] - The company aims to accelerate the development of related technology reserves and laboratory construction to meet market demands [1]

Core Viewpoint - The company is currently collaborating with leading clients in the research phase of quantum communication, quantum computing, and quantum measurement, focusing on radio frequency and optical technology directions [1] Group 1 - The company announced its involvement in quantum technology research [1] - The collaboration is with head clients in the industry [1] - The focus areas include radio frequency and optical technology [1]

Financial Performance - The company achieved a sales revenue of 15.838 billion CNY in the first three quarters, representing a year-on-year growth of 12.36% [3] - Net profit decreased by 30.89% due to a decline in gross margin, which was 29.70%, down approximately 6.9 percentage points year-on-year [3] - In Q3 alone, sales revenue was 4.654 billion CNY, with a net profit of only 290 million CNY, indicating significant declines compared to previous periods [3] Business Segments - The civil sector showed significant contributions, with revenue growth rates exceeding 50% in both the new energy vehicle and data center businesses [3] - The defense sector's orders and planned volumes increased year-on-year, with inventory reaching 5.7 billion CNY, a growth of over 20% since the beginning of the year [3] Strategic Outlook - The company plans to enhance internal resource allocation to capitalize on growth opportunities in the automotive sector, particularly in new energy vehicles [3] - There will be a focus on accelerating cash flow from defense sector clients and improving overall performance through cost reduction and efficiency enhancement measures [3] Accounting Policy Changes - The company is changing its accounting policy for cost allocation and product valuation methods to improve precision in cost management and support better pricing strategies [4] - The new accounting policies will take effect on January 1, 2026, in response to the need for more accurate cost accounting due to a complex external environment [4] Future Business Prospects - The civil business is expected to perform strongly, while the defense business is showing signs of recovery in planned volumes and orders [5] - The company anticipates continued growth in the new energy vehicle sector, with a year-on-year growth rate exceeding 50% [12] Impact of Material Costs - The rise in gold prices is estimated to impact the defense business's gross margin by approximately 1%-2% [10] - The company is actively managing the effects of commodity price fluctuations through cost control initiatives and process optimizations [10] International Expansion - The company aims to become a global leader in interconnection solutions, facing challenges in international business expansion due to current geopolitical and supply chain dynamics [13] - Efforts will be made to enhance global resource allocation and integrate into the global supply chain while promoting local strategies in key regions [13]

Core Viewpoint - The company is focusing on building testing capabilities in aerospace and high-end chip sectors, with an emphasis on quantum measurement as a key area of development [1] Group 1 - The company is increasing collaboration with relevant industry professional institutions to enhance its quantum testing capabilities [1] - A quantum testing research team is being established to accelerate technology storage and laboratory construction [1] - The initiatives are aimed at meeting market demand in the aerospace and high-end chip industries [1]

Summary of Quantum Technology Conference Call Industry Overview - The quantum technology industry is divided into three main branches: quantum computing, quantum communication, and quantum measurement [2][3] - The development of quantum technology can be categorized into three stages: theoretical foundation (early 20th century to 1980), technological exploration (1990 to 2018), and product breakthroughs (2018 to present) [1][2] Key Companies and Developments - Major companies like Google and IBM have launched practical prototypes, including Google's 53-qubit superconducting chip and IBM's System One [3] - In 2024, significant breakthroughs are expected from technologies such as China's Long Number and Google Vivo chips [1][3] - GuoDun Quantum's products include the world's first quantum secure communication satellite "Mozi," ground networks, and miniaturized ground station equipment [2][24] Market Growth and Financials - GuoDun Quantum is projected to generate approximately 350 million RMB in revenue in 2025, with a net profit of over 20 million RMB [2][27] - The quantum computing market is expected to reach tens of billions of dollars by 2030 and potentially hundreds of billions by 2035, depending on technological advancements [18] Technological Insights - Quantum entanglement allows for strong correlations between multiple quantum systems, which is crucial for simulating complex interactions in new material and drug development [2][10] - Quantum superposition enables a quantum bit to exist in multiple states simultaneously, leading to exponential growth in computational capacity [9] Challenges and Future Directions - The transition from classical computing to quantum computing is driven by limitations in classical systems, such as the "quantum tunneling" effect that restricts performance [5][6] - Current challenges include the "decoherence" problem, which affects computational accuracy and efficiency due to environmental factors [15] - Companies are exploring specialized machines and hybrid algorithms to facilitate the practical application of quantum computing [16] Global Competitiveness - The U.S. and China are leading in quantum technology research, with the U.S. having a higher proportion of highly cited papers and patents [19] - China is investing heavily in quantum communication infrastructure, with significant resources allocated to build a secure quantum internet [20][22] Applications and Industry Impact - GuoDun Quantum is actively exploring applications in government, finance, and electricity sectors, with products aimed at secure communication and data encryption [28] - The company has developed various terminal products and partnered with China Telecom to offer encrypted office applications, reaching millions of users nationwide [28] Conclusion - The quantum technology industry is poised for significant growth, driven by advancements in quantum computing and communication, with companies like GuoDun Quantum at the forefront of innovation and application development [1][27]

Group 1 - Quantum computing is in an early breakthrough stage, with quantum error correction being a key focus. Various technological routes such as superconducting, ion trap, neutral atom, photonic, and silicon semiconductor are showing a diversified and open development trend. Significant progress is expected in the next 5 to 10 years, with the US and China leading globally in this field [1][2] Group 2 - China is in an absolute leading position in the QKD quantum security field. The country has established a relatively complete quantum secure communication industry chain centered on QKD technology, with Chinese institutions accounting for approximately 93% of the top 10 patent applicants in the global quantum communication field [2] Group 3 - The quantum measurement industry is entering a diversified development cycle. Quantum precision measurement leverages the sensitivity of quantum states to enhance the accuracy of measuring various physical quantities, with a clear industrialization prospect despite varying maturity levels of quantum sensors for different physical quantities [2]

Core Insights - Quantum computing is currently in the early breakthrough stage, with quantum error correction being a key focus area [1][2] - The development landscape of quantum computing is characterized by diverse and open technological routes, including superconducting, ion trap, neutral atom, photonic, and silicon semiconductor technologies [1] - The industry ecosystem for quantum computing is gradually being established, with ongoing advancements in fundamental research, engineering development, and application exploration across multiple sectors [1] Quantum Security - China holds an absolute leading position in the field of Quantum Key Distribution (QKD) technology, forming a comprehensive quantum secure communication industry chain [3] - Chinese institutions account for approximately 93% of the top 10 patent applicants in the global quantum communication field, indicating a strong competitive edge [3] Quantum Measurement - The quantum precision measurement industry is entering a diversified development phase, leveraging quantum states for enhanced measurement accuracy across various physical quantities [4] - The maturity of quantum sensors varies by physical quantity, contributing to the diversification of the industry [4] Investment Recommendation - GuoDun Quantum (688027.SH) is recommended as a key player in the quantum technology sector, being the only listed quantum technology company in China with a focus on quantum computing, quantum security, and quantum measurement [5]