（一）重要市场新闻 1、据央视新闻报道，北京时间2025年11月30日20时20分，我国在文昌航天发射场使用长征七号改运载 火箭，成功将实践二十八号卫星发射升空，卫星顺利进入预定轨道，发射任务获得圆满成功。此次任务 是长征系列运载火箭的第611次飞行。 2、据新华社报道，11月29日，据国家航天局消息，该局已于近期设立商业航天司，相关业务正在逐步 开展，标志着我国商业航天产业迎来专职监管机构，未来将持续推动我国商业航天高质量发展，产业链 有望全线受益。 （二）行业掘金 2、据媒体报道，11月28日，中科大基于可编程超导量子处理器"祖冲之二号"，首次在量子体系中实现 并探测了高阶非平衡拓扑相。标志着量子模拟在探索复杂拓扑物态方向上取得重要突破，为利用超导量 子处理器在量子模拟问题上实现量子优势奠定了基础。相关研究成果已发表于国际学术期刊《科学》。 本次实验展示了超导量子处理器在可编程性和操控精度方面的显著优势，本次实验证明了超导量子处理 器在模拟复杂物理系统方面的能力，未来有望助力解决高温超导、复杂分子结构等难题。本次成果的发 布有望为量子纠错打开突破口，推动量子计算性能跃升。 点评：量子计算是遵循量子力学规律 ...

明日主题前瞻 1、银 | 11月28日白银价格迎来大幅飙升，内外盘白银价格纷纷刷新历史新高，其中COMEX白银期货最高触及57.245美元/盎司，伦敦现货白银最高达56.78 美元/盎司，国内沪银期货主力合约最高升至13239元/千克13。截至目前，其年内累计涨幅已高达90%，成为年内表现极为强势的品种之一。 点评：分析师认为，白银价格强势的核心驱动来自宏观货币政策预期与基本面供需结构的共振。目前市场对美联储12月降息25个基点的概率预期已升至85% 以上，远高于一周前的40%左右。这种宽松预期推动美元指数走弱，既降低了白银的持有成本，又刺激资金大量流入贵金属板块。供需方面，今年是全球白 银连续第5年出现供应缺口，缺口规模估计达9500万盎司。光伏装机量维持高位、新能源汽车渗透率提升，长期拉动白银工业需求，且2026年白银供给预计 持续短缺，为银价提供了刚性支撑。 2、量子计算 | 据安徽省人民政府官方微信发布消息，11月28日，中科大基于可编程超导量子处理器"祖冲之二号"，首次在量子体系中实现并探测了高阶非 平衡拓扑相。标志着量子模拟在探索复杂拓扑物态方向上取得重要突破，为利用超导量子处理器在量子模拟问题上 ...

Core Insights - The research team from the University of Science and Technology of China, in collaboration with Shanxi University, has achieved a significant breakthrough by realizing and detecting higher-order non-equilibrium topological phases using the programmable superconducting quantum processor "Zuchongzhi No. 2" [1][3] - This achievement marks an important step in quantum simulation, paving the way for utilizing superconducting quantum processors to achieve quantum advantages in complex topological states [1][3] Group 1: Research Significance - Higher-order topological phases represent a crucial area of study in condensed matter physics and quantum simulation, differing from traditional topological phases by exhibiting localized states on lower-dimensional boundaries [3] - The realization of higher-order topological phases in quantum systems addresses a significant scientific challenge and has implications for revealing the quantum nature of topological states and potential pathways for topological quantum computing based on non-Abelian statistics [3] Group 2: Experimental Details - The experiment utilized a 6x6 two-dimensional qubit array to achieve periodic driving, successfully simulating and detecting both balanced and non-equilibrium second-order topological phases [5] - The research team developed static and Floquet quantum circuit design schemes to construct higher-order topological Hamiltonians in a two-dimensional superconducting qubit array, overcoming key challenges in the field [6] - A systematic optimization scheme for the processor was established, allowing for dynamic control of qubit frequency and coupling strength, leading to the successful execution of up to 50 Floquet periods and the exploration of various characteristics of the non-equilibrium second-order topological phase [6][7]

Core Insights - Quantum technology is expected to be a key driver of a new wave of technological revolution and industrial transformation, as highlighted in government work reports [1][2] Group 1: Government Reports - Quantum technology has been mentioned six times in government work reports, indicating its growing importance in national strategy [2] - The 2024 government work report emphasizes breakthroughs in quantum technology alongside artificial intelligence and introduces plans for new development pathways [2] - The 2025 report outlines the establishment of a growth mechanism for future industries, including quantum technology [2] Group 2: Regional Development - There is a noticeable clustering effect in the development of quantum technology enterprises, primarily in regions like Beijing-Tianjin-Hebei and the Yangtze River Delta [3] - Eastern regions account for 65.8% of national quantum industry resources, with significant concentrations in Beijing, Jiangsu, Zhejiang, and Guangdong [3] - Anhui province has emerged as a leader in quantum technology, with Hefei city becoming a hub for quantum enterprises, housing over 71 related companies [3] Group 3: Funding and Innovation - Beijing plans to launch its first quantum industry special fund by 2025, with a scale of 200 million yuan to accelerate the incubation of startups [4] - Both Anhui and Beijing excel in different aspects of quantum technology, with Anhui leading in patent numbers in quantum computing and Beijing in quantum communication and precision measurement [4] Group 4: Technological Breakthroughs - Significant advancements in quantum technology have been made in 2024, transitioning research from theoretical to practical applications [5] - The third-generation superconducting quantum computer "Benyuan Wukong" was launched in January 2024, achieving over 33,900 quantum computing tasks [5] - A new quantum entanglement network was established, demonstrating a two-order-of-magnitude improvement in entanglement efficiency compared to previous experiments [5] Group 5: Industry Growth - The number of quantum computing-related enterprises in China has increased from 2,700 in 2015 to over 85,600 by March 2025, reflecting exponential growth [6] - The global quantum technology industry is projected to exceed 100 billion yuan by 2025 and reach one trillion yuan by 2035, driven by technological breakthroughs and market confidence [6]

Core Viewpoint - The recent development of the 105-qubit superconducting quantum computing prototype "Zuchongzhi No. 3" by the team from the University of Science and Technology of China demonstrates a significant leap in quantum computing capabilities, achieving a speed that surpasses the fastest supercomputers by a factor of one trillion [1][2]. Group 1 - The "Zuchongzhi No. 3" prototype can process quantum random circuit sampling problems at a speed one trillion times faster than the current fastest supercomputer, setting a new world record for superconducting quantum computing superiority [1][2]. - The prototype includes 105 readable qubits and 182 coupled qubits, with multiple key performance indicators significantly improved compared to its predecessor, "Zuchongzhi No. 2," which had 66 qubits and was already a major advancement in 2021 [2]. - The international academic community recognizes that the development of quantum computing will follow a three-step process: achieving quantum computing superiority, developing quantum simulators with hundreds of qubits, and significantly enhancing qubit manipulation precision and fault tolerance to create programmable universal quantum computers [2]. Group 2 - The research team behind "Zuchongzhi No. 3" is actively exploring various aspects of quantum technology, including quantum error correction, quantum entanglement, quantum simulation, and quantum chemistry [3]. - The team is currently conducting research on surface code error correction with a code distance of 7, with plans to expand to distances of 9 and 11, which will facilitate the integration and manipulation of large-scale qubits [4].