本报记者 徐 靖 高端装备买不来，只能自己造。2023年，从图纸到产品，团队研制出国内首套用于量子芯片生产的专用 激光退火仪和无损探针仪等设备。"必须把关键核心技术掌握在自己手中。"贾志龙说，正是依靠从设计 到制造的全链条自主研发，团队实现了从样品到产品的跨越。 从实现中等规模制造能力的突破，到完成全球大量量子计算任务，再到攻坚下一代芯片，每一次突破都 为更强的"中国算力"筑牢根基。如今，团队奋斗在推进控制电路与芯片更高效集成的一线。 "用今天的精雕细琢，换取明天的发展主动权。"贾志龙说，新的一年，他和团队已准备好，在这场科技 前沿的攀登中，向下一座高峰全力冲刺。 《 人民日报 》( 2026年01月06日 05 版) 在位于安徽合肥云飞路的全国首条量子芯片生产线内，"本源悟空"超导量子计算机的芯片研制团队负责 人贾志龙博士套上防尘服，经过风淋，走进超净室。显微镜下，新一代量子芯片的纳米结构清晰可见， 他对最后一道工艺参数仔细进行微调。 "'本源悟空'上线以来，已完成了全球70余万个计算任务。"贾志龙介绍，"这说明我国的量子算力已经进 入可用阶段。" ...

近年来，量子计算领域经历了快速增长，技术进步和大规模投资频繁登上新闻头条。联合国将2025年定为国际量子科学与技术年。因 此，量子计算迅速成为全球竞赛。全球私营企业和政府纷纷争相打造世界上第一台全尺寸量子计算机。 这种特定的"仪式感"往往预示着产业发展的重要阶段。长期以来，量子计算一直徘徊在"明天就实现"与"永远二十年"的悖论中。 然而，随着量子计算成为全球竞赛，全球私营企业和政府纷纷争相打造世界上第一台全尺寸量子计算机。要实现这一点，首先我们需要 稳定且可扩展的量子处理器，也就是芯片。 根据近期量子芯片发展进展不难发现，量子芯片的底层逻辑正在发生根本性扭转，那就是，量子芯片也正在从追求"物理比特"的数量转 向"高保真度逻辑比特"与"模块化可扩展架构"。 简单来说，量子计算正在经历它的"晶体管时刻"。 高保真度逻辑比特 量子芯片，通常被称为量子处理单元（QPU），是利用量子纠缠和量子叠加等量子力学原理进行信息处理的核心部件。 传统芯片基于经典物理学原理，基本信息处理单位为比特，每个比特只能取值0或1，而量子芯片的基本信息处理单位为量子比特，每个 量子比特可以为0或1，或两者的叠加态。这一特性使得量子处理器在处 ...

国盾量子在经历高层变动之际，正悄然加码一项关键前沿技术布局。12月19日晚间，公司发布两则重要公告：一是披露了董事 长吕品离世后的临时领导安排，二是宣布将投入870万元研发量子芯片设计软件（Q-EDA），首次公开进军这一被视为"量子芯 片工业母机"的领域。 EDA（电子设计自动化）软件是传统集成电路设计的核心工具，能够极大提升芯片设计效率。在量子计算时代，专门用于量子 芯片设计的Q-EDA软件，同样成为研发与制造量子处理器（QPU）不可或缺的关键工具，对于实现量子芯片的自动化设计、性 能优化和快速迭代至关重要。 国盾量子表示，"在量子计算时代，中国必须要有自己的Q-EDA软件，作为撬动量子芯片大规模生产制造的关键'杠杆'。" 这与 其现有业务形成协同。作为国内少数全面布局量子信息三大分支（通信、计算、测量）的公司，国盾量子的核心业务已从量子 通信拓展至超导量子计算机整机及测控系统，向上游核心设计工具延伸是自然的产业链布局。 在同日发布的另一份公告中，国盾量子透露了其技术版图扩张的新动向。公司拟与关联方曲泉（武汉）科技有限公司签订一份 采购服务合同，委托后者研究开发"国盾量子EDA软件"并提供相关技术服务，合同 ...

Core Insights - The Chinese electron beam lithography (EBL) system industry is transitioning from "catching up" to "keeping pace" with international standards, achieving breakthroughs in technology such as 0.6 nm resolution and a production capacity of 60 wafers per hour, nearing global advanced levels [1][7][11] - The market size of the Chinese EBL system industry is projected to reach approximately 294 million yuan in 2024, representing a year-on-year growth of 59.78% [1][8] - Despite advancements, the industry faces challenges such as insufficient domestic production of EUV photoresists (less than 1%) and technical hurdles in processes below 2 nm [1][5][14] Industry Overview - EBL systems utilize high-energy electron beams for nanoscale structure fabrication, offering advantages like ultra-high resolution (less than 10 nm) and flexibility without masks, widely applied in semiconductor manufacturing and quantum device preparation [2][3] - The upstream supply chain includes materials like high-purity quartz glass and photoresists, while the downstream applications focus on semiconductor manufacturing and research [3][4] Market Size - The Chinese EBL system market is expected to grow significantly, with a forecasted market size of 294 million yuan in 2024, marking a 59.78% increase from the previous year [1][8] - The domestic demand for semiconductor chips continues to rise, driven by emerging technologies such as 5G and AI, which further supports the growth of the EBL system market [7][12] Key Companies and Institutions - Notable advancements have been made by companies like Zeyou Technology and Zhejiang University, with the "Xizhi" EBL machine achieving 0.6 nm precision and 8 nm linewidth technology, marking significant progress in domestic capabilities [8][11][9] - Zeyou Technology's EBL system has achieved over 95% localization rate and is being applied in various high-tech fields, breaking the monopoly of foreign companies [9][10] Industry Development Trends 1. **Technological Breakthroughs**: The focus will be on achieving resolutions below 0.6 nm and enhancing multi-beam parallel technology, with the aim of increasing production capacity to 120 wafers per hour [11][12] 2. **Expanding Market Demand**: The demand for high-precision chips in sectors like quantum computing and advanced packaging is expected to surge, driven by government support and industry collaboration [12][14] 3. **Complete Supply Chain Development**: The industry aims to achieve self-sufficiency across the entire supply chain, enhancing the localization of critical materials and addressing challenges in EUV photoresist production [14]

Group 1: Investment in Quantum Computing - The company holds a 0.97% stake in Benyuan Quantum through the Foshan Desheng Tianlin Equity Investment Partnership [2][3][4] - The investment in Benyuan Quantum was made during the A-round in 2021, reflecting an early strategic positioning in the quantum computing sector [3][4] - The company is open to future investments in the quantum computing industry and its applications [3][4] Group 2: Financial Performance - The company's revenue has decreased this year due to a strategic shift in product structure, focusing on reducing low-margin product sales [3][4] - There is a question regarding the company's ability to meet its revenue and profit targets for the year, with ongoing adjustments to operational loads to improve overall performance [4] Group 3: Employee Stock Ownership Plan - Details regarding the employee stock ownership plan's unlocking arrangements can be found in the draft published on September 2, 2025 [3][4] Group 4: Other Investments - The company has invested 1.82% in Guangzhou Yuanshang Biotechnology Co., Ltd. through the same investment partnership [4] - The company is exploring potential future investments in the biomedicine and beauty sectors [4] Group 5: Disclosure of Information - The investor relations activity did not involve any undisclosed significant information [4]

Core Insights - The emergence of China's first commercial electron beam lithography machine marks a significant advancement in quantum chip research, allowing for greater independence from foreign technology [1][4] - The new technology enables precise circuit patterning without the need for complex optical lenses or masks, showcasing Chinese innovation in the semiconductor industry [1][4] - China's ability to produce chips at 0.6 nanometers demonstrates its competitive edge over foreign counterparts, who are still focused on 1 nanometer technology [3] Group 1: Electron Beam Lithography Machine - The introduction of the "Xizhi" electron beam lithography machine allows for flexible and precise arrangement of quantum bits, overcoming previous limitations imposed by foreign equipment [4] - This technology is positioned as a new path for China, diverging from traditional methods and focusing on quantum and new material chips [4] - The machine's development reflects the dedication and effort of numerous researchers in China, emphasizing the country's capability to achieve top-tier technology [4] Group 2: Huawei's Chip Technology - Huawei's chip stitching technology allows multiple chips to work together, significantly enhancing data processing speeds and addressing performance limitations [3] - The technology enables the combination of lower-process chips to outperform leading foreign chips, such as those from NVIDIA, demonstrating China's innovative approach to chip performance [3] - This advancement challenges the perception of foreign dominance in high-end chip performance and showcases China's growing capabilities in the semiconductor sector [3]

Group 1 - Tesla is hiring personnel to test its driving assistance technology in New York City, indicating a potential expansion into the ride-hailing market in the U.S. [2] - Amazon has launched same-day delivery for fresh groceries in over 1,000 towns across the U.S., with plans to expand to over 2,300 towns by the end of the year [4] - Google plans to invest an additional $9 billion in Oklahoma over the next two years, supporting the construction of new data centers and expanding existing facilities [8] Group 2 - The Chinese aviation industry has developed a new 12-meter horizontal dual five-axis mirror milling equipment to address manufacturing challenges in large aircraft skin processing [3] - The domestic market for pickup trucks saw sales of 41,000 units in July 2025, a year-on-year increase of 1.7% but a month-on-month decrease of 15% [9] - The first domestically produced commercial electron beam lithography machine has entered application testing, marking a significant advancement in quantum chip research [10] Group 3 - The majority of models in China now use over 60% Chinese data, with some reaching 80%, indicating a significant improvement in the quality and availability of Chinese data for model training [6][7] - A new regulatory notice emphasizes that driver assistance systems should not be mistaken for autonomous driving, and companies must provide clear safety information to consumers [11] - Apple is developing a desktop AI virtual companion robot and a home security camera, aiming to enhance automation and user interaction in domestic settings [13]

Group 1 - A breakthrough method has been developed by the Korea Institute of Basic Science to produce millimeter-sized graphite films with grain sizes approximately 10,000 times larger than traditional artificial graphite. The mechanical testing results show that the Young's modulus of the graphite film reaches 969 GPa, and the tensile strength is 1.29 GPa, approaching the theoretical limits of single-crystal graphite. The in-plane thermal conductivity is as high as 2034 W/m·K, exceeding that of copper, and the electrical conductivity is 22500 S/cm, setting a new performance record for macroscopic artificial graphite [2]. - A multifunctional robot developed by a team from Northwestern Polytechnical University can operate in extreme cold environments down to -50°C. This robot, based on a new type of electroactive polymer, is capable of autonomous heating, inspection, and ice melting, making it advantageous for applications such as aircraft engine blade inspection and operations in cold regions [2]. - The first domestically produced commercial electron beam lithography machine, named "Xizhi," has entered application testing in Hangzhou. This machine boasts precision comparable to mainstream international equipment and signifies a significant advancement in quantum chip research and development in China [2]. - Samsung Electronics plans to invest 25 billion yen (approximately 170 million USD) to establish an advanced chip packaging research center in Yokohama, Japan. The center is expected to open by March 2027 and aims to strengthen collaboration with Japanese semiconductor material and equipment manufacturers as well as the University of Tokyo [2].

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - The central bank has carried out large - scale reverse repurchase operations, injecting medium - term liquidity, and the market expects the central bank to increase the volume of MLF renewal. The Fed's September interest - rate cut expectation has been frustrated due to high PPI data. Various industries are facing different situations, such as the shipping industry getting regulatory relaxation, the banking industry promoting "anti - involution" measures, and the express delivery industry showing growth in business volume and revenue [9][10][11]. - Different futures varieties have different trends. For example, some agricultural products are in a state of weak supply and demand, and energy - chemical products are affected by factors such as supply and demand and seasonal demand. Industrial metals are affected by factors such as supply guidance and inventory, and the option - financial market is affected by market sentiment and macro - data [6][14][19][20][23]. 3. Summary by Directory 3.1 Chemicals - **Price Changes**: On August 15, 2025, compared with August 14, 2025, the prices of most chemical products changed. For example, methanol rose by 4.359% (from 2,340.00 to 2,442.00), while 20 - number rubber fell by 0.080% (from 12,490.00 to 12,480.00) [6]. 3.2 Macro - News - **Central Bank Operations**: The central bank carried out 500 billion yuan of 6 - month (182 - day) outright reverse repurchase operations on August 15, and the cumulative outright reverse repurchase operations this month have exceeded the renewal amount by 30 billion yuan. The market expects the central bank to increase the volume of MLF renewal after 300 billion yuan of MLF matures this month [9]. - **Fed Interest - Rate Cut Expectation**: The US July PPI soared, with a year - on - year increase of 3.3% and a month - on - month increase of 0.9%, frustrating the Fed's September interest - rate cut expectation. Some Fed officials oppose a 50 - basis - point rate cut in September [9]. - **Other News**: The State Council added a new K - type visa for foreign young scientific and technological talents. The National Data Bureau will introduce more than 10 systems such as data property rights. The financial regulatory authorities in some regions advocate "anti - involution" in the banking industry. The US President Trump relaxed commercial space regulations. The US Treasury Secretary clarified that he was not pressuring the Fed to cut interest rates. The express delivery business volume and revenue in July increased year - on - year. The first domestic commercial electron - beam lithography machine entered the application test [9][10][11]. 3.3 Morning Meeting Views on Main Varieties 3.3.1 Agricultural Products - **Peanuts**: The peanut market is in a state of weak supply and demand, with prices fluctuating slightly. In the short term, it is expected to fluctuate strongly, but the downward trend remains [14]. - **Sugar**: The sugar futures price is in a high - level shock. The US Department of Agriculture has raised the new - year sugar production forecast, but the concerns about Brazilian production and the Fed's interest - rate cut expectation support the raw sugar price. It is recommended to operate in the range of 5,650 - 5,680 yuan/ton [14]. - **Corn**: The corn futures price showed a rebound with a reduction in positions. The supply side has limited remaining grain in the Northeast, but the low - price listing of new - season corn in Jiangsu has a suppressing effect. The demand side is in a wait - and - see state. It is recommended to participate in the short - term rebound near the support level of 2,270 yuan [14]. - **Pigs**: The national pig price was stable with a slight increase. The supply side has enhanced resistance to price drops, and the demand side has improved. The futures market is in a pattern of near - term weakness and long - term strength, and is expected to fluctuate within a range [14]. - **Eggs**: The national egg spot price is stable. The spot market may rebound due to downstream stocking demand, but the futures market may fall to repair the basis. It is recommended to short on rebounds and conduct reverse spreads between months [14][15]. - **Cotton**: ICE US cotton futures rose and then fell. Zhengzhou cotton futures rose slightly. The cotton market sentiment is cautious, and the spot market has slightly improved. The cotton price is supported by factors such as tight commercial inventory and the conversion of demand from off - season to peak season. It is expected to fluctuate strongly in the short term [17]. 3.3.2 Energy - Chemicals - **Urea**: The domestic urea market price continued to decline slightly. The supply pressure is expected to increase, and the demand is weak. The futures price is expected to fluctuate weakly, and attention should be paid to the support level of 1,700 yuan/ton [19]. - **Caustic Soda**: The supply of caustic soda decreased this week, and the inventory decreased. With the arrival of the demand peak season in September, the demand has increased. It is recommended to pay attention to the 9 - 11 reverse spread [19][20]. - **Coking Coal and Coke**: The coking coal market is cautious, and the six - round price increase of coke has been implemented. The iron - water daily output has increased, and the decline of coking coal and coke prices is expected to slow down [20]. 3.3.3 Industrial Metals - **Copper and Aluminum**: The copper price continued to oscillate and consolidate due to the lack of favorable drivers. The aluminum inventory has exceeded 550,000 tons, and the price is expected to continue high - level adjustment [20]. - **Alumina**: The supply of alumina has increased, the demand is relatively stable, and the spot price has limited upward momentum. It is expected to continue to fluctuate within a range, and attention should be paid to the supply interference of bauxite [20]. - **Rebar and Hot - Rolled Coil**: The rebar night - session price fell, and the inventory increased. The hot - rolled coil production and demand both increased, and the inventory increase slowed down. The decline of the black - series is expected to slow down, and it will oscillate and adjust in the short term [20]. - **Ferroalloys**: The prices of ferrosilicon and ferromanganese fell. The supply of ferrosilicon and ferromanganese increased last week, and the demand was weak in the off - season. The alloy prices are expected to fluctuate within a range with a rising center of gravity [20][21]. - **Lithium Carbonate**: The futures and spot prices of lithium carbonate both strengthened. The supply is expected to increase in August, and the demand for cathode materials is also expected to increase. Attention should be paid to the support level of 85,000 yuan and the pressure level of 87,000 yuan. It is recommended to lay out long positions at low prices [21]. 3.3.4 Option - Financial - **Stock Index Options**: On August 14, the three major A - share indexes rose and then fell. The trading volume of the stock market exceeded 2 trillion yuan for two consecutive days. Different stock - index futures and options have different trends, and investors can pay attention to arbitrage opportunities and volatility strategies [21][23]. - **Stock Indexes**: The A - share market has been rising driven by liquidity, but there are signs of divergence and differentiation. The market may have short - term shock and pull - back pressure. It is not advisable to chase high, and it is recommended to enter the market at dips [23][25].

Company News - China Heavy Industry announced on August 14 that it has submitted an application for voluntary termination of its A-share listing [7] - China Telecom reported a net profit of 23.02 billion yuan for the first half of the year and plans to distribute an interim dividend of 16.58 billion yuan [8] - Tianpu Co. announced that its actual controller is planning a change in company control, and its stock will be suspended from trading starting tomorrow [9] Industry News - The number of investors participating in margin trading reached 523,400 on August 13, marking a new high for the year, with an increase of 46,100 from the previous trading day, a 9.67% month-on-month growth [4] - The China Chemical and Physical Power Industry Association released a draft proposal on August 14 to maintain fair competition and promote healthy development in the energy storage industry, with 152 energy storage companies participating in the initiative [6] - Jiangsu Province announced on August 14 that it will waive towing and lifting fees for vehicle rescue services on highways starting in September, making it the first province to fully exempt these fees [6] - The Guizhou Provincial Government issued a three-year action plan for the high-quality development of the low-altitude economy, aiming to establish a basic low-altitude management mechanism by 2027 [6] Global Market - The U.S. stock market saw most indices rise, with the S&P 500 index reaching a new record closing high for three consecutive trading days, up 0.03% [10] - International crude oil futures prices increased by approximately 2%, with WTI crude oil futures for September rising by 2.09% [11] - COMEX gold futures fell by 0.77%, settling at $3,382 per ounce, while silver futures dropped by 1.46% to $38.04 per ounce [11]