行业周报 · 通信行业 两会召开在即，科技创新将成为关注重点 眽眻眽睁 年 眾 月 眼 日 光通信相关标的：中际旭创（眾眻眻眾眻睃）， 新易盛（眾眻眻着眻眽）等；IDC 相关标 的：光环新网（眾眻眻眾睃眾）等；光纤光缆龙头：长飞光纤（睁眻眼睃睁睄），亨通光电 （睁眻眻眿睃睂），中天科技（睁眻眻着眽眽）等；量子通信：国盾量子（睁睃睃眻眽睂）等； 运营商相关标的：中国移动（A+H），中国电信（A+H），中国联通（A+H） 等；卫星互联网相关标的：通宇通讯（眻眻眽睂睄眽），普天科技（眻眻眽着眿眿）等。 风险提示：AIGC 应用推广不及预期的风险；国内外政策和技术摩擦的不确定 性风险；着G 规模化商用推进不及预期的风险等。 通信行业 | | | 分析师 赵良毕 ：眻眼眻-睃眻睄眽-睂睁眼睄 ：zhaoliangbi_yj@chinastock.com.cn 分析师登记编码：S眻眼眾眻着眽眽眻眾眻眻眻眾 研究助理：刘璐 ：yj.liulu@chinastock.com.cn 相对沪深 眾眻眻 表现图 眽眻眽睁-眻眽-眽睃 资料来源：Wind，中国银河证券研究院 -50% 0% 50% 100% 150% 2025/2/ ...

格隆汇2月27日丨国盾量子(688027.SH)公布2025年度业绩快报，报告期内公司实现营业收入3.1亿元，同 比增长22.53%；实现归属于母公司所有者的净利润为539.19万元,实现扭亏为盈；实现归属于母公司所 有者的扣除非经常性损益后的净利润为-4380.21万元。 ...

该项目自2026年1月发起，旨在构建一张为哈尔滨提供量子安全服务的量子安全基础设施网络。采购内 容包括集控站、接入站、公版密码资源池的集成与施工。 运营商财经网 陈聪敏/文 近日，哈尔滨电信2025年量子通信城域网建设工程采购项目公示中标候选人，结果很有意思。 也就是说，如公示期无变动，最终第一中标候选人中电信量子集团将成功中标，而其投标报价与限价分 毫不差。 这也在意料之中。天眼查信息显示，中电信量子集团是中国电信全资控股的子公司，跟哈尔滨电信是一 家的，其重点布局量子计算，关注量子测量，在量子通信领域处于领先地位。这样来看，顶格报价也是 很有底气的。 （责任编辑：陈聪敏） 项目共有3名投标人参与投标，根据公示，第一中标候选人是中电信量子信息科技集团有限公司，投标 报价为466.15万元；第二中标候选人是广东国腾量子科技有限公司，投标报价为410.3万元；第三中标候 选人是上海循态量子科技有限公司，投标报价为396.2945万元。 从报价来看，该项目中的报价较低者并未获得很大优势。 有意思的是，招标公告显示，该项目的预算金额及最高限价均为466.15万元（不含税），中标人数量为 1个。 ...

每经AI快讯，国盾量子2月27日晚间发布2025年度业绩快报，营业收入约3.1亿元，同比增加22.53%；归 属于上市公司股东的净利润约539万元；基本每股收益0.05元。 每经头条（nbdtoutiao）——中美大反转，中国AI调用量首超美国，A股嗨了，多板块掀涨停潮！华尔 街知名分析师：中国算力路径颠覆传统认知 （记者 张明双） ...

（文章来源：证券日报） 证券日报网讯 2月27日，国盾量子发布业绩快报称，公司2025年实现营业总收入310457069.28元，同比 增长22.53%；归属于母公司所有者的净利润为5391908.65元。 ...

南财智讯2月27日电，国盾量子发布2025年度业绩快报，报告期内公司实现营业收入3.10亿元，同比增 长22.53%；归属于上市公司股东的净利润539.19万元，同比扭亏；基本每股收益0.05元，同比扭亏。 ...

Core Insights - The development of integrated optical quantum chips is crucial for achieving large-scale quantum communication, with the successful creation of the "Unnamed Quantum Chip Network" marking a significant milestone in this field [1][2] Group 1: Technology Development - A research team from Peking University has developed two core chips essential for quantum key distribution (QKD), enabling the first large-scale quantum key distribution network based on integrated optical quantum chips [1] - The first chip is an optical microcavity frequency comb source chip that produces ultra-low noise coherent light, providing a unified frequency reference for network synchronization [1] - The second chip is a quantum key sending chip that integrates all key functions such as laser, modulator, and key encoding/decoding, achieving full functionality in one unit [1] Group 2: Network Capabilities - The "Unnamed Quantum Chip Network" can support 20 chip users for simultaneous communication, with a maximum communication distance of 370 kilometers between any two users [2] - The network breaks the technical limitations of non-relay communication, achieving a networking capability of 3,700 kilometers, thus facilitating multi-user and long-distance quantum communication [2] - This advancement represents a critical step towards the practical and scalable application of quantum communication technologies, with performance metrics reaching international leading levels [2] Group 3: Production and Future Research - The quantum chips exhibit high uniformity and yield in wafer-level fabrication, indicating potential for low-cost mass production, which is vital for building large-scale quantum communication networks [2] - The reviewers of the journal "Nature" recognized this as a significant breakthrough in the field of quantum chips and networks, highlighting its substantial scalability [2] - The research team aims to further integrate quantum communication chip networks with quantum computing chips, laying the groundwork for a practical quantum information technology system [2]

Core Insights - The development of integrated optical quantum chips is crucial for achieving large-scale quantum communication [1][2] - The research team has successfully built the world's first large-scale quantum key distribution network based on integrated optical quantum chips, named "Weiming Quantum Chip Network" [1][2] Group 1: Technology Development - The team has created two core chips: one for the server side that generates ultra-low noise coherent light sources, and another for the user side that integrates all key functions for quantum key distribution [1] - The dual-field quantum key distribution (TF-QKD) offers measurement-device-independent security and long-distance transmission capabilities, with successful point-to-point key distribution over kilometers of optical fiber [1] Group 2: Network Capabilities - The "Weiming Quantum Chip Network" can support 20 chip users for simultaneous communication, with a maximum communication distance of 370 kilometers between any two users, breaking previous technical limitations [2] - The network's total networking capability reaches 3700 kilometers, marking a significant advancement towards practical and scalable quantum communication [2] Group 3: Production and Impact - The optical quantum chips exhibit high uniformity and yield in wafer-level fabrication, indicating potential for low-cost mass production, which is critical for building large-scale quantum communication networks [2] - The achievement is recognized as a major breakthrough in the field of quantum chips and networks, with significant implications for the future of quantum communication [2]

Core Insights - A significant technological advancement in quantum communication has been achieved by a collaborative team from Peking University's School of Physics and School of Electronics, resulting in the development of a fully integrated quantum key distribution (QKD) network named "Weiming Quantum Network" [1] Group 1: Technological Achievements - The research team successfully created an integrated quantum key sending chip and an optical microcavity frequency comb light source chip, enabling the world's first large-scale QKD network based on integrated optical quantum chips [1] - The network demonstrated parallel communication among 20 chip user nodes, achieving a communication distance of 370 kilometers, thus breaking the distance limit of direct transmission without relays [1] - The system reached a "networking capability" of 3700 kilometers, calculated as the product of the number of client nodes and communication distance, validating the feasibility of large-scale, long-distance quantum secure communication through integrated photonic technology [1] Group 2: Hardware Architecture - The research utilized a hybrid material system of indium phosphide (InP) and silicon nitride (SiN) for hardware architecture, with a central server node deploying a silicon nitride optical microcavity frequency comb as a seed light source [2] - The system produced a coherent dark pulse frequency comb with an ultra-low noise linewidth of only 40 Hz, replacing traditional complex desktop laser systems [2] - The user end incorporated 20 fully integrated indium phosphide quantum chips, achieving a device yield of 97.5% and maintaining high consistency under wafer-level manufacturing processes [2] Group 3: Protocol and Performance - The research employed a twin-field quantum key distribution (TF-QKD) protocol combined with wavelength division multiplexing technology, effectively addressing signal interference and phase tracking challenges in multi-user networks [2] - Experimental results indicated that the system could maintain low error rates even over long-distance fiber transmission of 370 kilometers, with a data rate surpassing the theoretical limits of linearity [2] - This technological approach offers a new chip-level solution for reducing the cost of quantum communication devices and enhancing network scalability [2]

Core Insights - The research team from Peking University's School of Physics has published a groundbreaking study on large-scale quantum communication networks using integrated photonics in the journal "Nature" [1] Group 1: Research Achievements - The team developed a fully integrated high-performance quantum key sending chip and an optical microcavity frequency comb light source chip [1] - They constructed the world's first large-scale quantum key distribution network based on integrated photonic chips, named "Weiming Quantum Network" [1] - The quantum network supports parallel communication for 20 chip users, with a communication distance of 370 kilometers, breaking the relay limit [1] Group 2: Technical Advancements - The network's capability, defined as the number of client users multiplied by communication distance, reaches 3,700 kilometers, achieving international leadership in both user scale and networking capability [1] - The research validated the superiority of indium phosphide and silicon nitride material systems in the manufacturing of optical quantum chips, demonstrating high yield, performance, and scalability for wafer-level processing [1] - This breakthrough lays a solid chip-level foundation for the future construction of practical quantum secure communication networks that can cover longer distances and accommodate more users [1]