Honeywell (NasdaqGS:HON) Q3 2025 Earnings Call October 23, 2025 08:30 AM ET Speaker0Thank you for standing by, and welcome to the Honeywell Third Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be advised that today's call is being recorded. I would now like to hand the call over to Sean Meakim, Vice President of Investor Relations.Please go ahead.Speaker1Thank ...

最近朋友圈被谷歌的量子计算突破刷屏了。说实话，看到这种新闻我第一反应不是兴奋，而是后背发凉——在这个机构用AI操盘、用量化交易收割的市场 里，我们普通投资者拿什么跟人家拼？就像这次量子计算的1.3万倍算力提升，等传到我们耳朵里时，那些聪明钱早就把相关概念股翻了个底朝天。 这让我想起去年半导体行情的一个细节：8月12日寒武纪首次涨停当天，130家半导体概念股有124家上涨。这种全面开花的行情看似机会遍地，实则暗藏杀 机——没有专业工具根本分不清哪些是真正被资金青睐的标的。 在这个信息严重不对称的市场里，我发现能持续走强的个股都有两个共同特征： 首先是有资金在抢。好东西永远稀缺，股票也不例外。但问题在于我们很难用肉眼看出资金博弈的痕迹。就像寒武纪那波行情，等K线图显示出上涨趋势 时，游资早就完成第一轮布局了。 其次是必经洗盘过程。大资金要拉高股价，必须甩掉跟风盘。很多散户就是倒在这个环节——明明抓住了好股票，却因为看不懂洗盘信号提前出局。 这些年我最大的感悟是：传统技术分析在量化交易面前就像冷兵器对上导弹。那些还能赚钱的老手，无一例外都开始借助量化工具来观察资金动向。 每次重大技术突破都会带来一波造富神话，但更多 ...

Core Insights - The synergy between quantum computing and AI is expected to inject new momentum into the quantum computing industry and open new pathways for AI development [1][2] - The quantum computing industry is currently at a critical stage of technological breakthroughs, application exploration, and industry cultivation [2] - Domestic companies in the quantum frontier technology field are relatively advanced and comprehensive, likely to benefit from the rapid growth of this emerging industry [1] Quantum Information - Quantum information encompasses three main application areas: quantum computing, quantum communication, and quantum measurement, which have the potential to break through the limitations of classical information technology [1][2] - The global quantum computing technology market was valued at $1.1 billion in 2022 and is projected to grow to approximately $7.6 billion by 2027, with a compound annual growth rate (CAGR) of 79.72% from 2022 to 2030 [2] Quantum Communication and Measurement - Quantum communication is currently the only communication method proven to be unconditionally secure, with practical applications advancing rapidly [3] - The global quantum communication industry is expected to reach $7.85 billion by 2030, while the quantum precision measurement market is projected to grow to $2.527 billion by the same year [3] Investment Opportunities - Companies to watch in the quantum industry include Guodun Quantum (688027.SH), Hexin Instruments (688622.SH), Keda Guochuang (300520.SZ), Shenzhou Information (000555.SZ), Electric Science Cybersecurity (002268.SZ), and Jida Zhengyuan (003029.SZ) [4]

Core Viewpoint - JPMorgan Chase has launched a ten-year initiative called the "Safety and Resilience Initiative," with a total investment of $1.5 trillion aimed at enhancing the economic security and resilience of the United States [2][6]. Investment Areas - The initiative will focus on four major sectors: supply chain manufacturing, defense aerospace, energy technology, and frontier technologies, with a total of 27 sub-sectors targeted for investment [2][3]. - Specific areas of investment include critical minerals, pharmaceutical precursors, robotics, defense technology, autonomous systems, drones, battery storage, grid technology, artificial intelligence, cybersecurity, and quantum computing [3][4]. Financial Commitment - JPMorgan Chase plans to invest up to $10 billion in equity and venture capital to support the growth and innovation of related companies [7]. - The initiative is expected to release an additional $500 billion in financing compared to a "normal scenario" [6]. Market Impact - Following the announcement, stocks in quantum computing surged, with Rigetti up 25%, D-Wave up 23%, Arqit up 20%, IONQ up 16%, and Quantum Computing up 12% [4][6]. Strategic Goals - The initiative aims to accelerate investment in critical sectors and eliminate barriers to development, such as excessive regulation and bureaucratic delays [6]. - JPMorgan Chase will also leverage its asset and wealth management departments to facilitate funding without using its own capital [6].

Group 1 - The core point of the article is that 德美化工 has invested in 本源量子 through an industry fund, holding a 0.97% stake in the company [1] Group 2 - 德美化工's investment is facilitated through 佛山德盛天林股权投资合伙企业 (Limited Partnership) [1] - The investment highlights 德美化工's strategic interest in the quantum computing sector [1] - The current stake of 0.97% indicates a minor but significant involvement in the rapidly evolving technology landscape [1]

Core Insights - Quantum technology presents new development opportunities for the banking industry, enhancing security against financial fraud and risk prediction [1] - Financial institutions must move beyond experimental phases to fully leverage the benefits of quantum technology [1] Group 1: Enhancing Risk Prediction Capabilities - Quantum computing is transforming risk modeling, fraud detection, and portfolio optimization, addressing limitations of traditional methods [2] - Yapı Kredi Bank in Turkey has developed an innovative financial risk assessment model using quantum computing to identify potential risk points in SMEs, significantly reducing analysis time from years to just 7 seconds [2] Group 2: Combating Fraud - Quantum technology enables faster and more accurate detection of financial fraud, with the UK banking sector facing losses of up to $1.6 billion in 2024 due to fraud [3] - The UK government plans to invest $162 million in quantum technology to combat financial crime, including fraud and money laundering [3] - Intesa Sanpaolo Bank in Italy has successfully implemented a quantum-based classifier to analyze transaction data, achieving higher accuracy and efficiency with less data [3] Group 3: Protecting Sensitive Financial Data - Quantum security technology, including quantum key distribution and quantum random number generation, offers theoretically "absolute security" for encrypted communications [4] - "Post-quantum cryptography" is a promising algorithm that protects financial data against potential quantum computer attacks, adhering to international standards [4] - HSBC has applied quantum security technology in gold token trading, ensuring secure blockchain data circulation and improving market efficiency [4] Group 4: Ongoing Research and Development - Banco Sabadell in Spain has initiated a four-month research project on "post-quantum cryptography," focusing on the agility of encryption systems to adapt to threat levels [5]

Core Insights - Quantum computing is rapidly evolving and is on the verge of commercial application, similar to the transformation seen in the artificial intelligence sector [1][2] - Significant investment and revenue growth are anticipated in the quantum computing industry, with projections of $20 billion in investments by 2030 and $100 billion in revenue by 2035 [2] - Major tech companies like Microsoft, IBM, Google, and Amazon are actively investing in quantum computing, indicating a strong belief in its future potential [2] Group 1: Industry Potential - The total revenue of quantum-related companies was less than $750 million last year, while startups focused on quantum technology received approximately $2 billion in funding [2] - A potential "quantum advantage breakthrough" around 2030 could trigger $50 billion in investments, akin to the impact of ChatGPT on AI investments [2] - The practical applications of quantum computing are beginning to be understood, with potential uses in pharmaceuticals, agriculture, materials science, and financial services [2] Group 2: Market Landscape - The majority of quantum computing technology is currently housed in academic institutions or government sectors, necessitating a concentrated effort for commercial application development [3] - Key quantum technology markets are located near national research centers and universities, with significant areas in the U.S. including Chicago, Boston, and parts of California [3] - Private real estate development around quantum computing is exemplified by initiatives in Chicago, although private development currently accounts for less than 20% of the overall market [3] Group 3: Data Center Integration - Quantum computing cannot operate within existing traditional data centers due to differences in structure and the need for electromagnetic shielding [5] - Quantum computing is expected to positively impact existing data center infrastructure through both upgrades and new constructions [5] - There are two potential development paths for quantum technology in real estate: continued concentration in existing major areas or integration with data centers, which could provide necessary cloud infrastructure [5]

Core Insights - CES Asia 2025 is entering a critical phase of preparation, with a significant increase in participation from global tech companies, particularly for the closed-door negotiation meetings, highlighting its importance as a core B2B platform in the tech industry [2][3] - The registration for the closed-door meetings has exceeded expectations, leading the organizers to extend the review period to ensure thorough evaluation of each applicant [2] - Asian companies, especially from China, Japan, and South Korea, dominate the applicant pool, seeking international collaboration to enhance their global presence [2] - Companies from Europe and the US are also participating, bringing advanced technologies and innovative ideas to explore opportunities in the Asian market [2] Industry Trends - In addition to popular sectors like artificial intelligence and the Internet of Things, emerging fields such as quantum computing, brain-computer interfaces, and green energy are also seeing active participation [3] - A European company focused on quantum computing emphasized the growing demand for this technology in the Asian market and aims to find suitable partners through the event [3] - To accommodate the high demand, the organizers plan to increase the number of closed-door meetings and optimize the negotiation process, enhancing efficiency and support for participating companies [3] - The success of CES Asia 2025 reflects the global tech industry's recognition of the Asian market and underscores the event's role in fostering technological exchange and collaboration [3]