上证报中国证券网讯（记者 骆民）星华新材公告，公司与广东国腾量子科技有限公司（以下简称"国腾 公司"）签署《战略合作协议》，双方将在量子科技及相关应用领域建立长期、稳定的战略合作关系。 公司将依托在反光材料行业丰富的产业化经验，助力国腾公司的量子技术产业化落地，并联合开展量子 功能材料、量子安全应用探索，实现双方优势互补与价值共创。 公告显示，国腾公司是拥有量子通信网络全产业链自主知识产权的前沿科技企业。自成立以来，国腾公 司在量子通信领域已取得显著成果，其自主研发的"高性能量子密钥分发设备"被认定为广州市首台 （套）装备，同时还开发了"渊云"量子安全服务平台，提供端到端的量子数据加密及身份认证解决方 案。 公告显示，国腾公司是拥有量子通信网络全产业链自主知识产权的前沿科技企业。自成立以来，国腾公 司在量子通信领域已取得显著成果，其自主研发的"高性能量子密钥分发设备"被认定为广州市首台 （套）装备，同时还开发了"渊云"量子安全服务平台，提供端到端的量子数据加密及身份认证解决方 案。 来源：上海证券报·中国证券网 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 骆民）星华新材公告，公司与广东国腾量子科技 ...

国盾量子（688027.SH）12月12日在投资者互动平台表示，公司小型化地面站产品主要用于跟瞄、对接 量子卫星，进行量子密钥分发。公司将根据国家天地一体量子网络相关规划，不断提升小型化地面站的 技术能力，积极参与支撑"量子星座"建设，推进量子通信在各场景的应用。 每经AI快讯，有投资者在投资者互动平台提问：当前国家正大力推动量子信息与卫星互联网等未来产 业。请问，作为优势企业，公司计划如何进一步将小型化地面站等技术，转化为对商业航天经济发展的 核心支撑？对未来构建天基量子网络、开拓太空应用有何具体战略构想？ （文章来源：每日经济新闻） ...

量子概念自提出以来，始终备受关注，如今量子科技已成全球科技竞争高地，量子通信作为重要分支， 正逐步走出实验室，融入日常生产生活。它凭借独特加密优势，为信息传输保驾护航，重塑通信安全格 局。 （文章来源：证券日报） 目前，量子通信产业化进程正在稳步推进，量子通信已融入日常场景，业内企业中电信量子信息科技集 团有限公司与科大国盾量子技术股份有限公司已有量子密话、密信、量子云印章等科技成果落地。量子 信息技术正在向着万亿级市场跨越，为产业升级注入澎湃科技动能。 ...

Group 1 - The core point of the article is that Guodun Quantum (SH 688027) announced its board meeting and provided details on its revenue composition for 2024, highlighting the significant contributions from various sectors within the quantum industry [1] - The revenue composition for Guodun Quantum in 2024 is as follows: Quantum communication accounts for 57.79%, quantum computing for 22.33%, quantum precision measurement for 15.32%, and other businesses for 4.56% [1] - As of the report, Guodun Quantum has a market capitalization of 47.3 billion yuan [1] Group 2 - The article also mentions another company, which has recently faced regulatory scrutiny from the China Securities Regulatory Commission (CSRC) due to a significant loss exceeding 100 million yuan shortly after its IPO [1] - The core product of this company has been severely impacted as its largest customer has shifted to self-sourcing, resulting in reduced procurement [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 科大国盾量子技术股份有限公司（以下简称"公司"）于2025年11月25日发布《股份回购制度》（以下简 称"制度"），对公司股份回购的适用情形、实施条件、资金来源、程序规范及信息披露等方面作出全面 规定，旨在进一步完善公司治理，保护投资者合法权益，规范回购行为。 制度明确回购四种适用情形 根据制度，公司股份回购适用以下四类情形：一是减少公司注册资本；二是将股份用于员工持股计划或 股权激励；三是将股份用于转换上市公司发行的可转换为股票的公司债券；四是为维护公司价值及股东 权益所必需。 其中，"维护公司价值及股东权益所必需"需满足下列条件之一：公司股票收盘价格低于最近一期每股净 资产；连续20个交易日内公司股票收盘价格跌幅累计达到20%；公司股票收盘价格低于最近一年股票最 高收盘价格的50%；或中国证监会规定的其他条件。 回购实施需满足多项核心条件 制度对回购实施设置了多项基本要求。在主体资格方面，公司需满足股票上市已满六个月、最近一年无 重大违法行为、回购后具备债务履行能力和持续经营能力、股权分布符合上市条件等。不过，若因"维 护公司价值及股东权益"情形回购并减少 ...

Group 1 - The core point of the news is the performance and market position of GuoDun Quantum Technology Co., Ltd., which saw a stock price increase of 5.01% to 608.85 CNY per share, with a total market capitalization of 626.27 billion CNY [1] - GuoDun Quantum specializes in the research, production, sales, and technical services of quantum communication products, providing solutions for various sectors including government, finance, electricity, and national defense [1] - The company's revenue composition includes 35.68% from related technical services, 34.31% from quantum communication products, 13.03% from quantum precision measurement products, 12.42% from quantum computing products, and 4.56% from other sources [1] Group 2 - E Fund's ETF (588020) holds 64,200 shares of GuoDun Quantum, representing 3.38% of the fund's net value, ranking as the tenth largest holding [2] - The E Fund's ETF has achieved a year-to-date return of 75.34%, ranking 108 out of 4,216 in its category, and a one-year return of 80.98%, ranking 30 out of 3,894 [2] - The fund manager, Pang Yaping, has a tenure of 7 years and 18 days, with the fund's total asset size at 362.708 billion CNY and a best return of 90.95% during his management [3]

Core Viewpoint - GuoDun Quantum announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 30% in closing prices over three consecutive trading days (October 28, 29, and 30, 2025) [1] Company Summary - The company conducted a self-examination and confirmed that its daily operations are normal and there have been no significant changes [1] - The company did not find any undisclosed major information that could have significantly impacted its stock trading price, despite recent media reports [1]

Group 1 - The stock of GuoDun Quantum (688027) closed at 599.00 CNY on October 30, with an increase of 17.22% and a trading volume of 6.996 billion CNY [2] - The stock was listed on the daily trading list due to its closing price increase of 15% [2] - The top five trading departments accounted for a total transaction amount of 1.821 billion CNY, with a net buying amount of 164 million CNY [2] Group 2 - The main capital inflow for the stock was 92.7998 million CNY throughout the day [3] - The largest buying department was the Shanghai-Hong Kong Stock Connect, with a buying amount of 595.7211 million CNY [3] - The largest selling department was also the Shanghai-Hong Kong Stock Connect, with a selling amount of 189.46 million CNY [3]

Group 1 - The core point of the article highlights the significant stock performance of Guoshun Quantum, which reached a limit-up price of 613.20 yuan with a trading volume of 4.977 billion yuan and a turnover rate of 11.09% as of 11:21 AM on October 30 [2] - Among the stocks listed on the Sci-Tech Innovation Board, 280 stocks rose while 301 stocks fell, with notable gainers including C Yicai-U, C Heyuan-U, and C Bibete-U, which saw increases of 13.98%, 8.00%, and 2.98% respectively [2] - The stocks that hit the limit-up include Guoshun Quantum, Foxit Software, and Hexin Instruments, while the largest decliners were Minxin Co., Dingtong Technology, and Chip Microelectronics, which fell by 10.77%, 7.99%, and 7.87% respectively [2] Group 2 - In terms of capital flow, Guoshun Quantum experienced a net outflow of 90.9551 million yuan on the previous trading day, with a total net outflow of 80.5676 million yuan over the past five days [3] - The latest margin trading data as of October 29 shows a total margin balance of 1.42 billion yuan, with a financing balance of 1.398 billion yuan, reflecting an increase of 18.1513 million yuan or 1.32% from the previous trading day [3] - The company reported a revenue of 190 million yuan for the first three quarters, representing a year-on-year growth of 90.27%, while the net profit was -26.4696 million yuan, showing a year-on-year improvement of 51.98% [3] - In terms of institutional ratings, Guoshun Quantum received buy ratings from two institutions in the past month, with Guojin Securities and Guohai Securities issuing buy recommendations on October 22 and October 21 respectively [3]

Summary of Quantum Secure Communication Conference Call Industry Overview - The conference focuses on the **quantum secure communication** industry, which utilizes specialized optical fiber networks to transmit quantum keys, addressing security vulnerabilities in traditional asymmetric encryption methods [1][2][4]. Core Points and Arguments - **Security Enhancement**: Quantum secure communication ensures absolute security in information transmission by using the polarization state of photons to encode information, making it resistant to eavesdropping [1][5]. - **Three-Step Strategy in China**: China is implementing a three-step strategy for quantum secure communication: 1. Building intercity backbone networks 2. Developing metropolitan/access networks 3. Achieving integrated coverage through satellite systems [1][10]. - **Key Players**: GuoDun Quantum is a significant supplier of key distribution devices in China, benefiting from the first phase of the backbone network project [1][11]. - **Rapid Deployment**: China has made swift progress in the global application of quantum secure communication, entering a large-scale deployment phase with significant operator involvement [1][12][13]. Financial and Market Insights - **Cost of Network Construction**: The construction cost for backbone networks is approximately **2 million yuan per 100 kilometers**, while metropolitan networks are more expensive, with costs exceeding **10 million yuan per 100 kilometers** in cities like Hefei [3][16]. - **Market Potential**: The market for metropolitan networks in China is projected to reach **15 billion yuan** over the next five years, with gradual coverage across cities [3][16]. Technical Aspects - **Core Technology**: The fundamental principle of quantum secure communication is based on the physical properties of micro-particles, ensuring that any eavesdropping attempt alters the state of the photons, thus revealing the presence of an intruder [5][8]. - **BV84 Protocol**: This protocol is used in quantum secure communication to ensure the integrity of the transmitted information by verifying measurement consistency between sender and receiver [6][7]. Infrastructure Development - **Satellite Integration**: The development of a space-based communication network requires multiple low-orbit satellites to enhance key distribution performance, indicating a growing market demand for such technologies [17]. - **Global Context**: Other countries, including the U.S. and European nations, are also advancing their secure communication networks, highlighting a global consensus on the need for enhanced security measures [18]. Industry Chain Composition - **Supply Chain**: The quantum secure communication industry chain includes upstream component manufacturers (e.g., optical fiber and chip producers), midstream integrators, and downstream users such as critical infrastructure sectors [9][19]. Conclusion - The quantum secure communication industry is rapidly evolving, with significant investments and strategic initiatives in China aimed at establishing a robust and secure communication infrastructure. The integration of quantum technology into existing networks presents both opportunities and challenges for stakeholders across the industry.