中国量子信息科学奠基人、中国科学院院士郭光灿认为，经过奋力追赶，中国量子计算产业已从跟跑中 站稳脚跟，进入第一方阵。全球量子计算核心技术竞争，本质是技术突破、供应链安全与标准制定的综 合较量。当前，美国正通过供应链管控巩固优势，欧盟、日本也在加紧布局争夺标准话语权。这对我国 研发速度与产业链协同提出前所未有高要求，中国产学研各界要更加坚定地凝聚起"自主可控"的核心共 识。 量子计算的胜负，不取决于某一台机器的参数，而取决于能否构建可持续演进的全栈生态。多位受访专 家认为，当前，量子计算的技术路线尚未收敛，中国要聚焦量子芯片、测控系统与操作系统等关乎发展 主动权的"必备能力"，从产业规律与实践出发，构建覆盖软硬件核心技术的能力体系，争取战略主动。 在南京举办的 2025 江苏产学研合作对接大会上，工作人员向游客讲解 100 比特超导量子计算机（2025 年 9 月 11 日摄） 新华社发（刘臻睿摄） 多国将量子计算上升为国家战略 美国、欧盟、日本等已将量子计算上升为国家战略，通过立法、巨额投资与国际协作展开系统性布局。 美国出台《国家量子倡议法案》，在七年内累计投资达60.78亿美元；欧盟通过"量子技术旗舰计划 ...

Core Insights - Quantum technology is prioritized in China's "14th Five-Year Plan," with significant emphasis on its development across various regions, including Shanghai and Anhui [1] - The A-share market has seen a resurgence in the quantum technology sector, with companies like Guandun Quantum and Keda Guokai gaining investor interest due to their strategic positioning in quantum technology [1] - Quantum computing is identified as the most promising area within quantum technology, transitioning from laboratory research to industrial application [1] Investment Trends - Capital is shifting from speculative investments to focused investments in the quantum technology supply chain, recognizing the importance of system capabilities in the competitive landscape [4] - The market potential for quantum computing is a primary driver for investment, with BCG predicting a profit of $850 billion by 2040 across key industries [4] - Investment in quantum technology is rapidly increasing, with a projected growth from $1.3 billion in 2023 to $2 billion in 2024, marking a 50% increase [4] Key Components of Quantum Computing - The "Three Hard and Three Soft" framework outlines six core components essential for the development of quantum computing: quantum chip systems, measurement and control systems, environmental support systems, quantum operating systems, quantum computing cloud platforms, and quantum application software [6][7][8] - Quantum chips are considered the "brain" of quantum computers, with significant investment potential in core materials and manufacturing processes [6] - Measurement and control systems are crucial for the stability of quantum computing, presenting extensive investment opportunities in core components and system integration [7] Ecosystem Development - The environmental support system is vital for the operation of quantum computers, with a focus on scaling production and operational capabilities of key equipment [8] - Quantum operating systems and software are essential for creating a robust ecosystem, with domestic systems like "Benyuan Sinan" being developed to integrate seamlessly with classical computing systems [8] - Investment in quantum cloud platforms is directed towards enhancing hybrid computing capabilities and integrating industry-specific applications [8] Long-term Strategic Value - The competition in quantum computing is fundamentally about the capabilities of the entire supply chain, with a focus on achieving self-sufficiency [9] - The next five years are critical for transitioning quantum computing technology from prototypes to market applications, with entities achieving full supply chain control likely to lead in global competition [9] - Recognizing the long-term value of quantum computing investments aligns with national strategic technology goals, as highlighted by industry leaders [10]

Core Insights - Quantum operating systems and software are essential for driving the quantum computing industry ecosystem, acting as a critical hub that connects hardware and application software development [1][3] - The global competition in quantum computing has shifted from hardware performance to a comprehensive evaluation of the entire technology stack and industry ecosystem, with operating systems playing a pivotal role in determining competitive advantage [1][2] Group 1: Importance of Quantum Operating Systems - The core value of quantum operating systems lies in their ability to efficiently manage and schedule quantum resources, providing a unified development interface and runtime environment for upper-layer applications [2] - Quantum operating systems face higher technical challenges due to the unique properties of quantum bits, such as superposition and entanglement, as well as the fragility of quantum states [2] - Once a quantum operating system achieves market dominance, it creates strong ecosystem stickiness, binding developers and the upstream and downstream of the industry chain, which can have a profound impact on future industry development [2] Group 2: Domestic Developments in Quantum Operating Systems - China has made significant breakthroughs in quantum computing operating systems, with "Benyuan Sinan" being a benchmark achievement, representing the first domestic quantum operating system that integrates quantum and classical computing architectures [3] - The current version 4.0 of this operating system focuses on the integration of quantum computing capabilities and has effectively addressed key challenges in resource management and task scheduling [3] - The accompanying QPanda programming framework covers the entire process from algorithm design to runtime monitoring, significantly lowering the barriers to quantum computing development [3] Group 3: Investment Attributes and Challenges - Quantum operating systems and software possess high barriers to entry, strong demand, and high growth potential, making them a core entry point in the quantum computing ecosystem [4] - The development of these systems requires overcoming challenges related to quantum-classical resource collaboration and multi-hardware adaptation, with significant head effects in a competitive landscape [4] - Despite the promising growth, challenges such as a small ecosystem scale and insufficient hardware-software collaboration in China's quantum computing sector remain significant [4]

Group 1: Core Insights - The A-share IPO market is experiencing new changes driven by both policy and market dynamics, with a notable increase in unicorn companies in sectors like commercial aerospace and quantum computing initiating their IPO processes [1][2][3] - As of September 22, 185 companies have had their IPO applications accepted this year, a significant increase from 76 in the entirety of 2024, indicating a robust recovery in the IPO acceptance rate [4][5] - The number of new companies listed on the A-share market has remained stable compared to the same period last year, with 71 companies having gone public so far this year, slightly up from 69 last year [6] Group 2: Sector Focus - The commercial aerospace sector is seeing multiple unicorn companies, such as Weina Starry and Blue Arrow Aerospace, starting their IPO guidance processes, highlighting a competitive race for the "first stock" in this field [2] - In the quantum computing industry, companies like Benyuan Quantum are also moving towards IPOs, with a focus on commercializing quantum computing technologies [3] - Hard technology sectors are expected to remain a focal point for the market, with companies possessing core technologies and clear business models likely to gain market recognition [7] Group 3: Market Trends - The trend of "withdrawal waves" in the IPO market has decreased, with only 89 companies voluntarily withdrawing their applications this year, a drop of over 70% compared to the previous year [5] - The current IPO market is characterized by an increase in acceptance and a decrease in terminations, attributed to collaborative efforts among policy, market, and enterprises [5] - The regulatory body has emphasized maintaining strict entry standards for IPOs, ensuring that there will not be a large-scale expansion in the number of listings [6]

Core Viewpoint - The article discusses the emergence of quantum computing companies in Hefei, particularly focusing on Benyuan Quantum, which is set to initiate its A-share listing process, marking a significant milestone in China's quantum computing industry [5][6]. Group 1: Company Overview - Benyuan Quantum, founded in September 2017 by prominent figures in the quantum computing field, aims to bridge the gap between domestic and international quantum computing advancements [8][9]. - The company is located on a street known as "Quantum Avenue" in Hefei, which hosts several notable quantum companies, including GuoDun Quantum and GuoYi Quantum [8][9]. - The founding team consists of leading experts, including Academician Guo Guangcan and Professor Guo Guoping, with over 75% of the workforce being research and development personnel [9][12]. Group 2: Financial Performance - In 2022, Benyuan Quantum completed a B-round financing of 1 billion RMB, achieving a valuation of approximately 7 billion RMB [15]. - The company's revenue for the previous year was 99.38 million RMB, with a loss of 34.19 million RMB, and it is projected to exceed 100 million RMB in revenue for the current year [19][20]. - Recent transactions indicate a slight decrease in valuation, currently estimated at around 6.9 billion RMB [17]. Group 3: Market Position and Future Prospects - Benyuan Quantum is positioned as a leader in the domestic quantum computing sector, with optimistic projections for its IPO valuation, potentially reaching 10 billion RMB based on comparisons with other quantum companies [21]. - The company focuses on creating a fully autonomous and controllable quantum computing ecosystem, developing various products including quantum chips and cloud platforms [24]. - Hefei has become a hub for quantum technology, housing nearly one-third of China's quantum enterprises and ranking second globally in quantum industry development [28].

Core Viewpoint - The article emphasizes the importance of developing a knowledge property governance system that aligns with the trend of open-source innovation, which is crucial for promoting the flow and commercialization of intellectual property in the context of new technological governance [1]. Group 1: Open-source Innovation and Industry Impact - Open-source innovation is emerging as a leading force in technological revolution and industrial transformation, particularly in fields such as embodied intelligence, large models, 6G, and quantum technology [1]. - The number of global open-source projects has increased exponentially, creating a "fission effect" that accelerates innovation and provides a competitive edge for startups [2]. - Companies like Yushu Technology have successfully integrated open-source architectures, significantly reducing costs and achieving a market share of 69.75% in the robotic dog segment, compared to only 2,000 units sold by Boston Dynamics [2]. Group 2: Collaboration and Ecosystem Development - Open-source innovation disrupts traditional zero-sum competition, fostering a collaborative innovation ecosystem where multiple entities evolve together [3]. - The semiconductor industry in China has made significant progress in domestic high-end equipment through shared patent technologies and deep collaboration among companies like SMIC and Northern Huachuang [3]. - The Huawei Ascend community has over 500,000 developers, shifting the research and development model from closed problem-solving to a dynamic cycle of problem discovery, solution crowdsourcing, and commercial transformation [3]. Group 3: Challenges and Opportunities in Intellectual Property Governance - Open-source innovation presents both opportunities and challenges for intellectual property governance, enriching innovation resources while also complicating the existing governance framework [4]. - The rapid growth of open-source innovation creates conflicts between knowledge sharing and exclusive intellectual property protection, leading to increased infringement risks [4]. - There is a need for new legal frameworks to clarify copyright ownership, usage licenses, and infringement recognition related to open-source software [5]. Group 4: Recommendations for Future Development - It is essential to establish and refine intellectual property laws and regulations that support open-source innovation, providing robust legal backing for such initiatives [5]. - Local governments should shift their roles from management to service, promoting supportive environments for technological innovation [5]. - Companies should adopt a mixed model of "algorithm open-source + patent protection" while enhancing the protection of core technologies as they engage in open-source strategies [5].