Origin Quantum is China’s most vertically integrated quantum computing company, the only commercial entity to have built a complete domestic manufacturing chain for superconducting quantum computers from chip fabrication through operating system to cloud platform a deliberate architecture designed to operate entirely without Western components.

Founded in 2017 by Guo Guoping and Kong Weicheng as a spinout from the University of Science and Technology of China in Hefei, Origin Quantum operates alongside the Anhui Quantum Computing Engineering Research Center the same research infrastructure behind the academic Zuchongzhi series of processors. Its commercial flagship is Origin Wukong, a 72-qubit superconducting processor named after the Monkey King of Chinese legend, launched January 2024 as the most advanced commercially deliverable quantum computer produced in China. In the first year, Wukong attracted over 20 million cloud visits from users in 145 countries and completed more than 530,000 quantum computing jobs. Its fourth-generation control system, Benyuan Tianji 4.0, released in 2025, supports over 500 qubits and represents the first Chinese measurement and control system with fully replicable, scalable engineering capability for mass production. In February 2026, Origin Quantum open-sourced its Origin Pilot operating system the “soft heart” of the quantum computing stack positioning itself as both hardware and software infrastructure for China’s quantum ecosystem.

Origin Quantum has raised $294 million, including a $148 million Series B round from the Anhui provincial government and the Chinese Academy of Sciences a funding structure that gives the company extraordinary runway but also anchors its incentives firmly to domestic government priorities. It holds more quantum computing patents than any other Chinese company and ranks sixth globally by patent portfolio. The company has deployed Origin Wukong to real-world applications including breast cancer screening analysis and quantum computational fluid dynamics. An IPO on the STAR Market is anticipated, with a recent valuation of approximately 6.9 billion RMB (roughly $950 million).

China Telecom Quantum Group is the state-owned enterprise that has positioned itself as the national infrastructure layer for quantum computing and quantum-secure communications the organisation most likely to determine how China’s quantum technology reaches enterprises, government, and eventually consumers at scale.

Established as a wholly-owned subsidiary of China Telecom and headquartered in Hefei, China Telecom Quantum Group became the controlling shareholder of QuantumCTek in January 2025, consolidating quantum computing and quantum communications into a single SOE-anchored entity with more than CNY 10 billion of planned investment across its quantum programmes. Its flagship initiative is the Tianyan quantum computing cloud platform, which combines the Tianyan-504 a 504-qubit superconducting quantum computer co-developed with CAS and QuantumCTek, announced December 2024 with the commercially deployed Zuchongzhi-3 (105-qubit system accessible via the platform from October 2025). By mid-2025, the Tianyan platform had received more than 12 million user visits from over 50 countries.

The Tianyan-504’s qubit count is among the largest of any system outside IBM and is reported to solve certain problems 450 million times faster than leading classical supercomputers a claim that, like most quantum advantage demonstrations, applies to specific narrow problem types. China Telecom’s QKD business distributes quantum encryption keys to over 5 million users through SIM cards, and operates a QKD-secured cloud service targeting government and financial sector clients. China Mobile runs a parallel platform, Wuyue, that is hardware-agnostic and hosts photonic (QBoson) and trapped-ion systems alongside superconducting hardware the two carrier-operated platforms represent China’s most direct counterpart to IBM Quantum and AWS Braket.

LogicBit is one of the most technically credible new entrants in Chinese superconducting quantum computing. The Hangzhou company emerged from one of China’s strongest university-based superconducting qubit research teams, and its founders contributed to a 100-qubit superconducting quantum chip published in Nature in August 2025 work that is explicitly benchmarked against Google’s architecture and approach to quantum error correction.

Founded as a spinout from Zhejiang University, LogicBit’s earlier chips include Mogan-1 (a fully-connected special-purpose chip for quantum simulation) and Tianmu-1 (a 36-qubit scalable general-purpose processor with nearest-neighbour connectivity). The Tianmu-1 was made available via JanusQ Cloud, Zhejiang’s first user-facing superconducting quantum cloud platform. LogicBit’s commercial focus is now firmly on error-correctable quantum chips and logical qubit development the layer of hardware that sits between physical qubits and fault-tolerant computation. The company closed a Pre-A round in October 2025, with tens of millions of RMB from a consortium including Zheda United Innovation (ZJU-affiliated), Westlake Science and Technology Innovation Investment, and several state-linked funds. The explicit comparison to Google’s roadmap in investor communications is notable: LogicBit is positioning itself as China’s most technically rigorous answer to the global logical-qubit race.

Coherent Technology (相干科技) is a Beijing-based superconducting quantum computing startup that appeared as a representative enterprise at the Beijing Quantum Industry Ecological Innovation Conference in August 2025 alongside Hyqubit, ArcLight Quantum, QBoson, and the neutral-atom company Liangyi Wanxiang. Its presence at the city’s flagship quantum industry event confirms it as an active participant in Beijing’s emerging superconducting cluster, which sits alongside the more established Hefei superconducting ecosystem anchored by Origin Quantum and USTC.

Limited public information is available about Coherent Technology’s team, technical approach, or funding. Beijing has historically pursued a “superconducting and photonic dual-track” strategy contrasting with Hefei’s superconducting monoculture and Coherent Technology appears to represent the superconducting element of that city-level hedge. Additional information is expected to emerge as the company completes early funding rounds and moves toward public product announcements.

Hyqubit (official English brand; Chinese: 华翊量子, full name 华翊博奥北京量子科技有限公司) is China’s most advanced commercial trapped-ion quantum computing company, founded in January 2022 in Beijing’s Yizhuang Economic and Technology Development Zone as a spinout from Tsinghua University’s Quantum Information Center. Its founder and scientific anchor is Professor Duan Luming, CAS Academician and director of Tsinghua’s quantum information centre whose group holds the world record for the largest site-resolved 2D ion trap quantum simulation (300 qubits in a single trap with individual qubit readout).

Hyqubit’s core technical innovation is a proprietary high-dimensional ion qubit array architecture that the company claims was first proposed globally. The first-generation commercial machine HYQ-A37 (37 qubits) launched in April 2023 as China’s first commercial ion trap prototype; the second-generation HYQ-B100 surpassed 100 qubits and is commercially available on HYQ Cloud. CEO Yao Lin confirmed in July 2025 that revenue was on track to grow several times year-on-year, with over 80% from scientific research computing primarily large SOE research institutes including China Mobile Research Institute. The near-term roadmap targets a third-generation system at 300–600 qubits. Hyqubit has built a fully domestic supply chain for its ion trap hardware, a strategic priority given US export restrictions on cryogenic and precision instrument components. Funding history: Pre-A (May 2024, 100M+ RMB, led by CCTV Convergence Media Fund, co-invested by Baidu Ventures and Lenovo Ventures); Series A (July 15, 2025, hundreds of millions RMB, co-led by the Social Security Fund Zhongguancun Independent Innovation Special Fund managed by Legend Capital, the Beijing Information Industry Development Investment Fund, and Legend Capital directly), with capital earmarked for tech iteration, Gen 2/3 hardware development, and application expansion in 6G communications, operations research, catalytic chemistry, and reservoir simulation.

Unitary Quantum is a Hefei-based trapped-ion company pursuing the quantum charge-coupled device (QCCD) architecture the same modular, ion-shuttling approach used by Quantinuum in its H-series systems. In August 2025, the company completed assembly and commissioning of China’s first 4K low-temperature QCCD chip-type ion trap quantum computing system, a technically significant milestone in China’s domestic trapped-ion hardware development.

QCCD architectures operate by physically shuttling ions between different trap zones on a microfabricated chip, enabling modular scaling while maintaining the all-to-all connectivity and high gate fidelity that make trapped-ion systems competitive with superconducting processors. Operating at 4K (liquid helium temperature) rather than the millikelvin temperatures required for superconducting qubits is an engineering advantage in system integration. Unitary Quantum received 30 million RMB in funding from Hefei local state-backed investment institutions after needing the capital to deliver its first prototype an example of the municipal government’s direct early-stage support for quantum hardware companies on Quantum Avenue. The company is early-stage, but the 4K QCCD milestone in 2025 marks it as China’s closest domestic analogue to Quantinuum’s hardware approach.

QuDoor (full name Guokaike Quantum Technology 国开启量子技术) is one of China’s oldest and most technically credentialled quantum companies, founded in Beijing in 2016. Its R&D team has an exceptional pedigree: the founders were involved in building China’s first commercial QKD system (2003), the first dedicated waveform generator for quantum computing (2007), the first ion trap on a chip (2012), the first quantum measurement and control system (2015), and China’s first ion-phonon-photon compound entanglement system (2018). With 32 quantum information patents, QuDoor has been building the foundational instrumentation of China’s quantum computing supply chain for longer than most of its better-known competitors have existed. In 2021, the company raised 50 million RMB in Angel financing from the Zhongguancun Development Frontier Fund, Zhongguancun Gold Seed Fund, and other investors.

QuDoor sits at an unusual intersection: it develops both trapped-ion quantum computer hardware and quantum measurement and control (M&C) systems the classical electronics that interface with quantum processors to read out states and apply gate operations. In the context of China’s domestic substitution push post-US entity list, M&C systems are a strategically critical product category. Foreign-made M&C hardware from companies like Zurich Instruments and Quantum Machines dominated Chinese quantum labs, but US export controls are forcing Chinese hardware companies to find domestic alternatives. QuDoor’s institutional depth in this area having built China’s first such system in 2015 makes it a natural beneficiary of the drive for indigenous control electronics. Its primary markets are defence, government, finance, and telecommunications, giving it a profile more focused on sovereign security applications than on commercial cloud quantum access, distinguishing it from Origin Quantum’s more outward-facing commercial strategy.

Huayi Quantum is a Beijing-based trapped-ion quantum computing company founded in January 2022 by Dr. Lin Yao and a team of PhDs and postdocs from Tsinghua University’s Centre for Quantum Information. Where Hyqubit draws its lineage from USTC and CAS in Hefei, Huayi is the Tsinghua research group’s commercial vehicle, targeting modular and standardised large-scale quantum computers alongside accessible quantum cloud platforms.

The company raised over CNY 100 million in its Angel round, led by Gaorong Capital with participation from Sequoia Capital China, Turing Ventures, Aurisco (605116), and MiraclePlus — a notably strong private VC lineup by the standards of Chinese quantum hardware startups, most of which rely on government-guided funds. A further strategic round of approximately ¥100 million followed in January 2024. Huayi’s core technical thesis is modularisation: building standardised, interoperable ion trap units that can be networked rather than scaling monolithic single-trap systems. The company remained active through 2025, attending the Beijing Quantum Industry Ecological Innovation Conference in August 2025 as one of the capital’s representative quantum enterprises.

CAS Cold Atom (also known as Zhongke Kuyuan 中科酷原) is China’s first neutral atom quantum computing company to achieve commercial deployment, delivering its Hanyuan-1 100-qubit neutral atom system in October 2025 to a China Mobile subsidiary and completing an export order to Pakistan the first confirmed overseas commercial sale of a Chinese neutral atom quantum computer, worth 40M+ RMB combined. The company subsequently closed a ~100 million RMB strategic financing round funded exclusively by China Mobile Chain Leader Fund.

Founded in 2020 as a spinout of CAS’s Innovation Academy for Precision Measurement Science and Technology in Wuhan, the company draws on nearly twenty years of cold atom research at CAS. Hanyuan-1 fits within three standard equipment racks and operates at room temperature, eliminating cryogenic infrastructure. The Hanyuan-1 deployment involved Wuhan University, Wuhan Institute of Quantum Technology, HUST, and Wuhan Optics Valley Information Optoelectronic Innovation Center, with over 50 universities and companies joining the application development programme. A cloud platform for atomic quantum computing, co-developed with the Wuhan Quantum Institute, gives external access to the hardware. The company is also developing a portable atomic quantum gravimeter for geophysical sensing and navigation a dual-use product line that positions it similarly to Infleqtion in the US, which combines quantum computing and quantum sensing. Hanyuan-2 is in active development, targeting further improvements in system architecture, qubit count, and coherence. With commercial customers, a confirmed overseas export, and China Mobile as a strategic backer, CAS Cold Atom / Zhongke Kuyuan is the most commercially advanced neutral atom company in China.

MatriQ is a full-stack neutral atom quantum computing company using dynamic optical tweezer arrays. The company completed its Seed round in November 2025 with investors including L2F Light to Future (which also acted as full-process incubator), Qiancheng Capital, and Oriza Seed. Though deliberately vague in its public communications, MatriQ is widely believed to be the commercial spinout of the USTC-Shanghai AI Lab team that set a world record in atom array quantum computing in 2024.

The 2024 paper that likely underpins MatriQ’s technology demonstrated world-record performance in a neutral atom qubit array using optical tweezers, and was highlighted by Pan Jianwei’s group as a significant step toward practical neutral atom quantum computing. The company has stated its core team comes from renowned universities and has successfully developed a neutral atom quantum computing prototype with internationally advanced performance indicators. MatriQ’s seed-stage status makes it one of the earliest-stage companies in this guide, but the technical pedigree suggested by its probable USTC origins gives it an unusually strong scientific foundation.

Buchou Quantum is a full-stack neutral atom quantum computing company founded as a Fudan University spinout in Shanghai, with a reported 1,000-qubit neutral atom prototype using optical tweezers to trap Rubidium and Cesium atoms. It completed an Angel round of tens of millions of RMB in December 2025, led by CAS Star with participation from Fudan’s investment arm Furong Investment and Oriental Fortune Capital.

The company originated through Shanghai’s “Grant-Investment Linkage” (拨投联动) policy: investors were invited to evaluate government-funded research milestones, were impressed enough to encourage the team to commercialise, and then backed the resulting company. That policy mechanism is notable because it represents a more market-sensitive variant of China’s usual top-down funding model, using VC judgment to filter which academic projects merit spinout support. Buchou Quantum’s founders are described as having a particularly strong quantum algorithm background in addition to hardware expertise a combination that matters for neutral atom systems, where hardware and software co-design is critical for realising the theoretical advantages of the modality.

Liangyi Wanxiang (两仪万象) is a Beijing-based neutral atom quantum computing startup, confirmed as an active company by its appearance at the Beijing Quantum Industry Ecological Innovation Conference in August 2025, where it was listed alongside Hyqubit (trapped ion), ArcLight Quantum (software), QBoson (photonic), and Coherent Technology (superconducting) as one of five representative Beijing-based quantum enterprises. Its presence signals Beijing’s intent to have a domestic neutral atom contender in its own cluster, rather than ceding the modality entirely to companies in Wuhan (CAS Cold Atom) and Shanghai (Buchou Quantum, MatriQ via USTC).

Limited public information is available about Liangyi Wanxiang’s academic origins, team, technical approach, or funding. The neutral atom sector in China has seen very rapid formation since late 2024, and Liangyi Wanxiang appears to be among the earliest Beijing-based entrants. Further details are expected as the company moves toward early fundraising and prototype announcements. Beijing’s “Quantum Ten” municipal support policy and the dedicated BAQIS research infrastructure position any Beijing-based neutral atom company to benefit from city-level resources alongside Hefei’s more established national quantum labs.

QuantumCTek is China’s only publicly listed pure-quantum company, the commercial engine behind the world’s largest quantum communication network, and the organisation that has done more than any other to transform quantum key distribution from a laboratory experiment into deployed national infrastructure. It is also one of the first quantum entities added to the US export control entity list a designation that has shaped both its strategy and the entire Chinese quantum self-sufficiency drive.

Founded in 2009 as a spinout from Pan Jianwei’s group at USTC, QuantumCTek listed on the Shanghai STAR Market in 2020 as the first quantum technology stock in China. Pan Jianwei’s research group is also behind the Micius quantum satellite (the world’s first), the Jinan-1 microsatellite, the Beijing-Shanghai quantum communication backbone (completed 2020, 2,000 km), and the Zuchongzhi superconducting quantum computing series. QuantumCTek is the commercial vehicle that turns this research output into products: QKD terminal equipment, quantum network management systems, quantum random number generators, and increasingly, superconducting quantum computing hardware and measurement and control systems. In January 2025, China Telecom Quantum Group assumed a controlling stake, integrating QuantumCTek into state telecommunications infrastructure.

QuantumCTek reported H1 2025 revenues of CNY 121 million (approximately $17 million), up 75% year-on-year a run rate comparable to IonQ for a similar period. Notably, quantum computing revenue contributed CNY 56 million (284% growth), with the company exporting a 25-qubit superconducting computer internationally and installing 100+ qubit platforms domestically. QKD-related revenue was CNY 52 million. In May 2025, QuantumCTek and China Telecom Quantum launched what they described as the world’s first commercial QKD+PQC hybrid security system, combining quantum key distribution with post-quantum cryptographic algorithms in a single deployed product. In November 2025, the company released China’s first high-performance PQC chip, positioning QuantumCTek as the only organisation delivering both QKD hardware and domestically produced PQC silicon. The same period saw the demonstration of a 1,000 km quantum-encrypted voice call over the national backbone network. The company is also pursuing domestic dilution refrigerator manufacturing through the Anhui Quantum Computing Engineering Research Center, having started factory production of the EZ-Q Fridge in 2024. QuantumCTek’s addition to the US entity list in 2021 cut off access to US components and investment but simultaneously created the political mandate and government funding to develop Chinese alternatives.

Qasky (Anhui Qasky Quantum Technology) is a CAS-affiliated QKD equipment manufacturer founded in 2016 in Wuhu, Anhui Province. Its co-founders include Cai Jiren, Guo Guangcan, and Han Zhengfu, established quantum scientists from USTC’s quantum optics tradition. The company commercialises quantum cryptography research from CAS, producing QKD communication terminals, network switching and routing equipment, core optoelectronic devices, random number generators, and integrated quantum information security systems.

Qasky was established with 50 million RMB in registered capital, jointly funded by Wuhu Construction and Investment and USTC. It has built a provincial quantum security project technology research centre and an academician workstation in Hefei, making it part of the Hefei quantum ecosystem despite its Wuhu headquarters. Its customer base spans government, finance, defence, and telecommunications the core sectors driving China’s quantum communications procurement. Qasky is one of the secondary suppliers in China’s national QKD network deployment, complementing QuantumCTek’s dominant position in backbone infrastructure with provincial and enterprise-level equipment. The company’s deep CAS connections and USTC academic support give it strong institutional backing typical of China’s quantum commercialisation model.

LuxQuanta Technologies is a Chinese quantum communication company founded in 2017, developing quantum key distribution systems and quantum secure networks. The company provides QKD equipment and quantum communication infrastructure for China’s national quantum communication networks, participating in China’s strategic programme to build quantum-safe communications across government and commercial sectors.

LuxQuanta operates in the same QKD equipment space as QuantumCTek and Qasky, contributing hardware for the secondary and provincial layers of China’s QKD network rollout. The company is part of the broader ecosystem of suppliers that emerged as China’s state procurement of QKD equipment scaled from the national backbone (dominated by QuantumCTek) to regional and enterprise deployments. Its 2017 founding places it among the first generation of Chinese quantum communications startups, predating the acceleration of government procurement that has characterised the sector since 2020.

China’s first listed quantum company (NEEQ 837638, January 2016), predating QuantumCTek’s STAR Market IPO by four years. Founded 2012 in Hangzhou; peak valuation approached ¥30 billion CNY.

A criminal dispute with QuantumCTek and a collapsed partnership with Switzerland’s ID Quantique inflicted lasting reputational damage. By 2024, revenue had fallen ~75% to ¥13.75 million, headcount dropped to 49 (29 R&D), and NEEQ issued a formal inquiry letter questioning its ability to continue operations. Pioneer and cautionary tale in equal measure.

Guoke Quantum is not a hardware company. It is a CAS-affiliated QKD network operator and integrator: the entity that builds and runs China’s provincial quantum communication backbone networks using QuantumCTek equipment and provincial government capital. Where QuantumCTek makes the boxes, Guoke Quantum lays the fibre and operates the infrastructure.

Founded in Shanghai in November 2016 under the Chinese Academy of Sciences, the company has built subsidiaries in Guangdong, Henan, Beijing, and Hubei, each targeting regional quantum network construction. Its most documented deployment is the Hubei provincial quantum backbone network, introduced in 2018 in partnership with Hubei Communications Investment Group: over 1,700 km of fibre, 3 backbone stations in Wuhan, Jingzhou, and Yichang, and 22 relay stations covering 10 cities and prefectures. The company has since built out similar structures in other provinces. Alongside network operations, Guoke Quantum co-developed a quantum security chip (CCM3310SQ-T) with Suzhou GuoXin Technology and has filed 87 patents. The $230M in funding from 16+ investors — including China Cable, Hongshan Capital, Henan Investment Group, and Infinity Group — reflects the infrastructure-scale capital required for national network construction rather than conventional startup financing. This is a roads-and-rails play, not a product startup.

QBoson is China’s leading photonic quantum computing company and the organisation most aggressively pushing coherent light-based quantum hardware from research prototypes into manufactured products. In April 2025 the company released its third-generation coherent optical quantum computer with approximately 1,000 computational qubits a significant milestone in photonic qubit scale operating stably at room temperature for more than 12 hours per day. China’s CAICT issued a technical verification report confirming nine performance indicators including qubit count, coupling density, coupling precision, and application-level computational performance.

Founded in late 2020 by Wen Kai and Ma Yin, QBoson focuses on “coherent quantum computing” using correlated photon pairs generated by a proprietary CMOS-based electronic-photonic chip. The architecture is not universal gate-based computation; it is purpose-built for combinatorial optimisation and AI workloads, specifically implementing a quantum Boltzmann machine framework. QBoson’s strategic pivot in 2025 is toward “Quantum + AI” applications: the Kaiwu SDK targets AI acceleration, drug discovery, biopharma simulation, logistics, and financial scheduling with a particular focus on positioning quantum Boltzmann machines as a complement to classical neural network training. The company has partnered with the Postal Savings Bank of China and China Mobile to deploy quantum algorithms for bank teller scheduling and logistics optimisation, among the first reported commercial quantum deployments in Chinese financial services. Labs have been established in Suzhou and Nanjing in addition to the Shenzhen manufacturing facility, creating an eastern China presence spanning the Yangtze River Delta and Pearl River Delta.

QBoson completed a multi-hundred-million RMB Series A++ round in October 2025 its sixth public funding round since founding co-led by Huade Tech Innovation and Nanshan Strategic Emerging Investment with participation from China Mobile’s investment fund and Tsinghua Holdings. The Shenzhen photonic quantum factory, groundbreaking in August 2025, is designed to produce dozens of photonic quantum computers annually across three dedicated divisions for module development, full-system production, and quality control. QBoson is listed on China Mobile’s Wuyue quantum cloud platform and reports over 68 million cumulative cloud computing invocations, users from over 900 universities, and more than 10,000 registered developers on its quantum computing developer community.

TuringQ is Shanghai’s most globally recognised quantum computing startup, one of only two Chinese companies included in the 2025 Quantum Insider list of the world’s 80 top quantum computing companies a distinction that reflects both its technical credibility and the relative scarcity of globally competitive Chinese quantum firms outside the Hefei ecosystem.

Founded in 2021 by researchers with backgrounds in silicon photonics and quantum optics, TuringQ develops integrated photonic quantum chips fabricated in standard CMOS-compatible silicon photonics processes. The core bet is that silicon photonics a mature fabrication technology used in high-speed telecom transceivers can serve as the platform for scalable quantum photonic processors, leveraging the same foundry infrastructure that makes classical photonic chips manufacturable at scale. The approach targets linear optical quantum computing and boson sampling applications, where photonic platforms have historically demonstrated quantum advantage most convincingly (Jiuzhang, the USTC photonic processor, demonstrated quantum advantage in boson sampling in 2020 and 2021). TuringQ’s silicon photonics route is distinct from QBoson’s coherent computing architecture, representing a second technical bet within China’s photonic quantum computing cluster.

TuringQ has attracted backing from Shanghai-based investors and strategic research partnerships with institutions in the Yangtze River Delta region. Its global recognition alongside only QBoson among Chinese companies in the top-80 global quantum computing list compiled by industry analysts reflects international acknowledgment of its technical approach even as its commercial profile remains substantially more limited than Hefei’s superconducting champions.

Guizhen Silicon Quantum (合肥硅臻芯片技术有限公司) is a Hefei-based photonic quantum computing company founded in 2020 as a spinout from USTC’s CAS Key Laboratory of Quantum Information, with Chief Scientist Prof. Ren Xifeng, a leading figure in quantum nano-optics and silicon photonic quantum chips. At the November 2025 Quantum Technology and Industry Conference in Hefei, Guizhen became the first Chinese company to release a domestic universal programmable optical quantum computer based on silicon photonic integrated chips a system built on photons as qubit carriers, with high-speed path-encoding chips and multi-channel entanglement source chips that are already in volume production.

The system demonstrated 4-qubit operation with operational fidelity above 99.4%, cloud-accessible via a public platform, and targeting general-purpose quantum algorithm execution across optimisation, AI, simulation, and information security applications. Guizhen’s technology route is distinct from QBoson’s coherent Ising machine approach: it targets universal gate-based optical quantum computing using integrated silicon photonics, a platform that in principle leverages the same CMOS-compatible manufacturing infrastructure that makes photonic transceivers manufacturable at telecom scale. The company’s core chip competencies entanglement source arrays and path-encoding circuits follow the linear optical quantum computing architecture and are compatible with boson sampling benchmarks of the kind used by USTC’s Jiuzhang series. The 2024 quantum computer prototype was certified as a Hefei Municipal First-of-Kind Major Technical Equipment, an official milestone for local government co-investment.

Guizhen has completed three rounds of funding since founding, with investors including Guoxin Technology (国芯科技, STAR Market: 688262.SH), which holds an 11.46% equity stake via strategic investment. This makes Guizhen the only Chinese quantum computing startup with a listed-company strategic shareholder that is itself a semiconductor company, providing both capital and supply-chain credibility for chip-level integration. The USTC spinout pedigree links Guizhen directly to Pan Jianwei’s ecosystem, even though its technology route diverges from QuantumCTek (QKD) and Origin Quantum (superconducting).

SpinQ Technology is the most commercially mature quantum computing company in China by revenue and international reach generating 50+ million RMB in 2024 revenues, growing orders and revenue by more than 130% in 2025, and selling into over 200 institutions across more than 40 countries through a dual product strategy that no Western competitor has tried to replicate.

Founded in 2018 by Xiang Jingen, a Tsinghua physics PhD with postdoctoral research at Harvard, SpinQ launched the world’s first programmable desktop NMR (nuclear magnetic resonance) quantum computer, the Gemini, in 2020 a compact, maintenance-free 2-qubit device designed for teaching and research access without specialist infrastructure. The Gemini and its successors (Triangulum, Gemini Lab) have become the standard hands-on quantum education platform at universities from Singapore’s SUTD to Vassar College in the US. These NMR systems, which work on magnetic resonance principles rather than superconducting circuits, require no cryogenics and no cleanroom, making them uniquely accessible for institutions without quantum engineering infrastructure. In 2023, SpinQ became the first Chinese company to export a superconducting quantum chip to the Middle East.

The industrial-grade track is the Ursa Major series of superconducting quantum computers, which SpinQ develops with full-stack independence: its own chip design using the proprietary “Shaowei” superconducting chip (released 2023), its own control systems, and its own SpinQit programming framework. The superconducting-to-NMR revenue ratio has shifted to approximately 6:4 as multiple Ursa Major systems are delivered domestically and internationally. SpinQ completed a Series C round from investors including Longli Technology, Yida Capital, and Jingkai Capital in 2026, and is positioned for a Hong Kong or Shenzhen exchange IPO within the next 18 months. The CEO acknowledges US maintains roughly a three-year lead in quantum computing development a rare public admission of the competitive gap from a Chinese quantum executive.

CIQTEK is China’s most commercially advanced quantum sensing company and one of the three “big three” Hefei quantum champions alongside QuantumCTek and Origin Quantum. Its IPO approval on the STAR Market in December 2025, targeting a raise of approximately 1.169 billion RMB at a valuation near 11.69 billion RMB, marks the first new quantum sensing company to go public in China and validates the thesis that quantum measurement instruments can reach commercial scale before fault-tolerant computing.

Founded in 2016 as a spinout from USTC, CIQTEK’s core product lines include nitrogen-vacancy (NV) centre quantum diamond spectrometers, electron paramagnetic resonance (EPR) instruments, quantum magnetometers, scanning electron microscopes, and arbitrary waveform generators. These are precision measurement instruments used in materials science, life sciences, pharmaceutical research, and industrial quality control. The company’s quantum magnetic-impurity analyser for lithium battery feedstock testing has found real commercial traction: it detects trace magnetic contaminants in battery-grade materials within five minutes, operating 90% faster and with 70% fewer personnel than conventional equipment. CIQTEK has partnered with CATL and Gotion High-Tech two of China’s largest battery manufacturers as early commercial customers, giving it a revenue base tied directly to China’s dominant electric vehicle supply chain.

CIQTEK’s optically pumped magnetometer array can detect the ultra-weak magnetic fields generated by human heartbeats, enabling early detection of ischemia or coronary disease a medical application that targets China’s aging population and the government’s healthcare technology modernisation agenda. The company also develops ion trap quantum computing hardware through its CIQTEK ION I trapped-ion system, which uses full-connectivity between any two qubits via microwave and laser control. With 700 employees and a pre-IPO Series D completed in October 2025, CIQTEK is the most mature quantum sensing company in China and one of the most credible commercially in the world by the standard of having generating real product sales at scale.

Kewei Quantum (北京科微量子科技有限公司) is a quantum sensing startup spun out from the Beijing Academy of Quantum Information Sciences (BAQIS, 北京量子信息科学研究院) in April 2024, building on the Atomic Systems Precision team’s research in atomic electromagnetics. The company focuses on two commercially distinct product lines: atomic clocks and Rydberg atom electromagnetic detection systems (里德堡原子电磁探测). Both address national strategic priorities around precision timing and next-generation electromagnetic sensing for defence, power, and meteorology applications.

Kewei is one of the fastest BAQIS-to-company transitions in the Beijing quantum ecosystem completing its first funding round within months of founding and presenting new products at Beijing’s inaugural Quantum Information Technology Innovation Conference. The company claims to be the first to apply quantum sensors to both the power industry (for grid monitoring and fault detection) and meteorology (for atmospheric electromagnetic measurement), carving commercially differentiated niches ahead of larger instruments players. Rydberg atom sensors, which use highly excited atomic states to detect microwave and radio-frequency fields with quantum-enhanced precision, are an emerging sensing modality globally relevant for 6G antenna characterisation, radar, and quantum-enhanced spectrum monitoring, all areas where Chinese defence and telecom policy intersects. The atomic clock product, aimed at the comprehensive index-first domestic market position, targets timing infrastructure from satellite navigation to power grid synchronisation.

Guosheng Quantum (安徽省国盛量子科技有限公司) describes itself as China’s first company dedicated entirely to quantum industrial sensing applying quantum precision measurement technology specifically to manufacturing and industrial environments rather than research instrumentation or national security. The Hefei-based company completed a Series A round (amount undisclosed) with Chuangu Capital in early 2025, and has launched a series of quantum sensing products targeting industrial process control and quality measurement.

The industrial quantum sensing market sits at an interesting intersection: quantum gravimeters, magnetometers, and atomic sensors can outperform classical sensors in environments where high sensitivity matters for product quality, process safety, or geophysical monitoring but industrial deployment requires hardening and miniaturisation that scientific instruments companies rarely prioritise. Guosheng Quantum’s explicit focus on the industrial use case, rather than the government or defence applications that dominate other quantum sensing companies in China, gives it a distinct commercial thesis. The Hefei location keeps it inside the national quantum cluster while targeting revenue from heavy industry, resources, and advanced manufacturing sectors that are a short distance from Hefei across the Yangtze River Delta.

Scale Quantum develops atomic-precision surface imaging equipment specifically Scanning Tunneling Microscopes (STM), Atomic Force Microscopes (AFM), and related probes for characterising quantum chips and nanomaterials at the atomic scale. It completed a Series A round in November 2025, backed by a government-linked science park fund.

The company occupies a “picks and shovels” position in the Chinese quantum supply chain. Every superconducting and photonic quantum chip requires atomic-level surface characterisation during fabrication; as China builds out domestic chip production lines for companies like Origin Quantum, LogicBit, and SpinQ, the need for high-performance domestic STM and AFM tools that do not depend on foreign suppliers becomes acute. Scale Quantum’s Series A positions it to scale production ahead of anticipated demand from the rapidly expanding Chinese quantum chip manufacturing sector, which the national quantum strategy has explicitly targeted for domestic self-sufficiency following successive rounds of US entity list additions targeting cryogenic and scientific instrument supply chains.

Zhongke Fuhai is a CAS-affiliated cryogenic technology company that registered for IPO tutoring with the Anhui Regulatory Bureau of the CSRC in October 2025, targeting a future STAR Market listing. While not a pure-play quantum company, its core business helium separation, purification, and liquefaction is a critical upstream input for every superconducting quantum computer in China.

Dilution refrigerators, which cool superconducting qubits to within millikelvins of absolute zero, are entirely dependent on a reliable supply of ultra-pure liquid helium. Until recently, this supply chain was almost entirely foreign-dominated: the US placed Scikro a Chinese company alleged to have supplied dilution refrigerators and cryogenic components to quantum labs on the entity list in March 2025, alongside six other Chinese quantum supply chain firms. Zhongke Fuhai’s IPO trajectory signals that China is determined to close this vulnerability. CETC separately unveiled its liquid helium-free XS1000 dilution refrigerator at the November 2025 Hefei Quantum Conference, while QuantumCTek has already commercialised the domestically developed EZ-Q Fridge for mass production. Zhongke Fuhai represents the upstream cryogenic infrastructure layer that underpins all of these efforts.

Scikro is the most prominently named Chinese quantum cryogenics company in the March 2025 US Bureau of Industry and Security (BIS) Entity List additions. The US government designated Scikro, along with six other Chinese quantum supply chain firms in the same round, alleging that it had supplied dilution refrigerators and cryogenic components to Chinese quantum research institutions and defence-linked entities. Scikro is incorporated with a Shanghai presence and Hong Kong registration structure common among Chinese technology companies seeking dual-market access.

Dilution refrigerators are the single most strategically sensitive component in the superconducting quantum computing supply chain. They cool quantum processors to within millikelvins of absolute zero and were, until recently, produced almost exclusively by Oxford Instruments (UK) and Bluefors (Finland) both of which have effectively ceased new sales to Chinese entities following tightened export controls. Scikro’s placement on the Entity List is significant not because it halts Chinese cryogenic progress, but because it validates the strategic importance the US assigns to cryogenic supply chain control. China has responded with a well-documented domestic substitution push: CETC unveiled its liquid helium-free XS1000 dilution refrigerator in late 2025, QuantumCTek has commercialised its EZ-Q Fridge, and Zhongke Fuhai is pursuing a STAR Market IPO to scale domestic helium infrastructure. Scikro’s entity list designation, read as a market signal, has arguably accelerated rather than slowed this domestic push by confirming that foreign cryogenic supply cannot be relied upon and by directing Chinese capital toward indigenous cryogenic manufacturing with new urgency.

Beijing-based high-tech enterprise developing dilution refrigerators and cryogenic test systems. BIS Entity Listed March 2025, alongside Scikro, for acquiring US-origin equipment in support of China’s quantum programme. Confirmed BAQIS supplier (government procurement contract for liquid-helium-free dilution refrigerator).

Targeting 1 mW @100 mK performance alongside CSSC Pengli and CAS. Part of the national push to localise the single most strategically sensitive component in the superconducting quantum supply chain, following Western export controls on Oxford Instruments and Bluefors equipment.

Nanjing subsidiary of China State Shipbuilding Corporation (CSSC), a central SOE and one of the world’s largest naval shipbuilders. Developing domestic dilution refrigerators targeting 1 mW @100 mK, drawing on CSSC’s deep expertise in submarine and naval ultra-low-temperature and vacuum systems.

The CSSC parentage represents civil-military fusion (军民融合) in action: defence-grade cryogenic engineering redirected toward millikelvin cooling for superconducting quantum processors. Alongside Physike, Liangyi Technology, and Zhongke Fuhai, it forms part of the domestic cryogenic cluster China has built to replace Oxford Instruments and Bluefors. By 2024 China had at least eight active dilution refrigerator manufacturers after having zero in 2021 — one of the fastest supply-chain build-outs in the history of quantum hardware.

Liangyi Technology is the highest-revenue independent dilution refrigerator startup in China, with ¥74.35M in 2024 revenue (up 177% year-on-year) and a confirmed presence in international top-tier quantum laboratories. It is currently being acquired by Hexin Instruments (禾信仪器, STAR Market: 688622), a listed mass-spectrometer company attempting to pivot into quantum hardware supply. The deal, announced October 2024, would give Liangyi Technology a public-market balance sheet and Hexin access to China’s highest-growth segment in enabling hardware.

Founded June 2022 in Shanghai by Wu Ming (who also controls Scikro Instrument, the BIS entity-listed cryogenics supplier), Liangyi Technology focuses on two product lines: liquid-helium-free dilution refrigerators capable of 1,000 μW at 100 mK, and ultra-low-temperature signal measurement and control systems for qubit readout (extremely-weak RF/microwave signal transmission and conditioning). The company runs a Sino-French Joint Laboratory on Ultra-low Temperature Metrology, used to establish domestic Chinese cryogenic calibration standards for the country and Belt-and-Road partner countries. Its equipment has also been deployed at the Jinping underground laboratory (2,400 m rock overburden), supporting the world’s first experiment on cosmic-ray interference effects in quantum computing. As of September 2024, confirmed in-hand orders exceeded ¥50M.

ArcLight Quantum is a Beijing-based quantum software company spun out from the Institute of Software at the Chinese Academy of Sciences (ISCAS). It closed a Series A round of tens of millions of RMB in December 2025, funded by the Beijing Information Industry Development Fund. Its product portfolio spans quantum EDA (electronic design automation for quantum chips), quantum program development platforms, quantum machine learning platforms, and quantum measurement and control systems.

Quantum EDA is a strategically important product: as Chinese hardware companies such as Origin Quantum, LogicBit, and SpinQ scale up their chip fabrication capabilities, they need sophisticated design automation tools that account for quantum-specific constraints like qubit connectivity, decoherence, and gate error rates. ArcLight’s position as a CAS spinout from China’s leading software research institute gives it both the technical depth and the institutional relationships to serve hardware companies across the national quantum ecosystem. The measurement and control systems product line is also notable, as it competes with foreign suppliers in a category that China has explicitly targeted for domestic substitution in the context of US export controls. ArcLight is one of the clearest examples of China building the software infrastructure layer that its hardware ambitions will eventually require.

e-Spin develops “magnetic quantum computing” chips (磁性量子计算) based on spintronics chips that exploit electron spin states rather than superconducting or photonic qubits. Operating at room temperature, the technology is more accurately described as quantum-inspired optimization hardware rather than universal gate-based quantum computing. The company completed a small Seed round of several million RMB from a Beijing district government fund in November 2025.

e-Spin’s approach targets combinatorial optimization problems, positioning it in a similar market space to D-Wave’s annealing systems or the coherent Ising machines being developed by QBoson, but using a fundamentally different physical substrate. Spintronics-based Ising machines offer potential advantages in energy efficiency and operating temperature compared to cryogenic approaches. The company is at a very early stage its Seed round was small and the technology remains unproven at commercial scale but the spintronics angle is distinctive within the Chinese quantum landscape, where almost all other hardware companies have converged on superconducting, ion trap, neutral atom, or photonic approaches. The room-temperature operation thesis, if it can deliver competitive performance, would remove a major barrier to deployment in data-centre environments.

Pan Jianwei’s group at USTC is the scientific origin point for almost everything that defines China’s quantum advantage: the world’s largest QKD network, the Micius and Jinan-1 quantum satellites, the Jiuzhang photonic quantum advantage processor, and the Zuchongzhi superconducting quantum computing series. To understand China’s quantum industry is, in large part, to understand this one research group and the ecosystem of companies it has seeded.

Pan Jianwei, a member of the National People’s Congress and the Chinese Academy of Sciences, did his doctoral and postdoctoral work in Austria under Anton Zeilinger (2022 Nobel Laureate in Physics). He returned to China in 2008 with a mandate to build world-class quantum research at USTC, and the funding and political access he has secured over the subsequent 17 years are without parallel in any quantum research community globally. His passport, like those of other “strategic scientists,” is held by his institution under China’s national security protocols. The group’s achievement list is extraordinary: the first satellite-to-ground QKD link (Micius, 2017); the first integrated space-ground quantum communication network (2020); multiple world records in entanglement distribution distance; the Jiuzhang photonic quantum advantage demonstration (2020, faster than classical for Gaussian boson sampling); Jiuzhang 3.0 (2024); Jiuzhang 4.0 (August 2025, photonic, demonstrating quantum advantage over El Capitan the world’s most powerful classical supercomputer); Zuchongzhi 2.1 (quantum advantage in random circuit sampling, 2021); Zuchongzhi 3.0 (105-qubit superconducting processor, published December 2024, with single-qubit gate fidelity 99.90%, two-qubit gate fidelity 99.62%, outperforming Google Willow in comparable benchmarks); Zuchongzhi 3.2 (107-qubit, 2025, achieving quantum error correction below the fault-tolerance threshold on a surface code with code distance 7, using a novel all-microwave control architecture); and a 300-qubit trapped-ion neutral atom simulator at Tsinghua (2024).

The commercial spinouts include QuantumCTek (QKD and computing hardware) and, through associated groups, aspects of the Tianyan platform. The research group’s political influence is equally important: Pan Jianwei’s advocacy at the National People’s Congress has been a direct driver of quantum technology’s elevation to strategic priority status in China’s Five-Year Plans since 2016.

The National Laboratory for Quantum Information Sciences (NLQIS), located on the USTC campus in Hefei and completed in 2021, received approximately $10 billion in direct government investment the largest single quantum research investment by any nation. It sits at the northern end of “Quantum Avenue,” a stretch of road in Hefei’s high-tech district that now hosts dozens of quantum technology companies, including Origin Quantum, CIQTEK, and QuantumCTek, in a deliberate clustering arrangement designed to create a shared talent pool, fabrication infrastructure, and commercialisation ecosystem.

The NLQIS provides shared research infrastructure that individual companies and university groups access for work that requires capabilities beyond what any single organisation can maintain. This includes quantum chip fabrication facilities, cryogenic testing, and high-precision measurement capabilities. The arrangement is an explicit implementation of China’s “civil-military fusion” industrial strategy applied to quantum technology: national lab infrastructure supports both pure research and commercial product development, with no clean separation between the two. The Anhui province government’s “Quantum Information Thousand Scenarios Action” targets 1,000 quantum application scenarios deployed across the provincial economy by 2027 and over 3,000 by 2030, using the NLQIS cluster as the supply side and state-owned enterprises as the procurement anchor.

The Beijing Academy of Quantum Information Sciences (BAQIS) is Beijing municipality’s counterpart to Hefei’s NLQIS a government-funded research institute designed to anchor and accelerate the capital’s quantum ecosystem. Beijing has emerged as a distinct cluster from Hefei, hosting photonic quantum companies (QBoson, TuringQ), trapped-ion startups (Hyqubit, QuDoor), neutral-atom companies (Liangyi Wanxiang), and superconducting hardware companies, with BAQIS providing shared research infrastructure for all of them.

BAQIS has been particularly vocal on the supply-chain challenge: institute researchers have noted that in just a few years, China has produced more than ten domestic dilution refrigerator manufacturers, closing one of the most critical technology gaps the entity list created. This rapid domestic supply-chain development driven by a combination of BAQIS research, provincial government procurement commitments, and private startup formation illustrates the speed at which China can deploy industrial policy when a critical dependency is identified. Beijing’s quantum policy initiatives include multiple government-guided funds, talent programmes, and startup incubation plans announced in 2025, alongside Beijing’s own quantum application challenge programmes modelled on Hefei’s “Thousand Scenarios” initiative.

China’s quantum technology investment is estimated at approximately $15 billion in total government spending to date a figure larger than any other nation’s quantum commitment and roughly equal to the US, EU, and UK programmes combined. The 14th Five-Year Plan (2021-2025) formally designated quantum information as a strategic technology priority. The 15th Five-Year Plan recommendations, issued in 2025 for approval in March 2026, go further: quantum technology is named alongside AI, biomanufacturing, 6G, brain-computer interfaces, and nuclear fusion as a “future industry” that should become a “new driver of economic growth.” The framing is explicitly industrialisation, not research: the emphasis is on “deep integration of scientific and technological innovation and industrial innovation” and “greater self-reliance and strength in science and technology.”

The most significant 2025 policy development was the March announcement of a national venture capital guidance fund of 1 trillion RMB (approximately $138 billion) across hard technology sectors including quantum, AI, semiconductors, and hydrogen. The exact quantum allocation is not public, but the fund’s creation signals that Beijing intends to address the private capital gap that has historically constrained Chinese quantum startups relative to US competitors. By comparison, China’s public quantum investment substantially exceeds China’s public AI investment on a per-technology basis an unusual priority ordering that reflects the combination of strategic security imperatives (PQC, secure communications) and national prestige attached to quantum leadership. The 2030 goals stated in policy documents include: a general quantum computer prototype, a practical quantum simulator, and expanded national quantum communications infrastructure. Each goal maps directly onto the commercial companies covered in this guide.

China’s quantum communication infrastructure is the most advanced deployed quantum technology in the world by any measure. The national QKD backbone network, as of August 2025, stretches over 12,000 kilometres, incorporates 145 backbone nodes, 20 metropolitan networks, six satellite ground stations, and covers 17 provinces and 80 cities. The Hefei metropolitan network alone has over 150 nodes and 1,000 km of QKD fibre links larger than most national QKD networks anywhere else. China Telecom markets QKD-secured services to over 5 million users through quantum SIM cards. The network operates continuously and is managed primarily through QuantumCTek’s quantum network management and key management systems.

The Micius satellite, launched August 2016, was the world’s first quantum communication satellite. It demonstrated satellite-to-ground QKD in 2017, entanglement distribution across 1,200 km in 2017, and ground-to-satellite quantum teleportation in 2017 three landmark experiments that collectively established China’s lead in space-based quantum communications. In March 2025, the Micius network was used to achieve the world’s longest intercontinental quantum-encrypted communication link: a 12,900 km quantum link between Beijing and Stellenbosch University in South Africa, establishing the first intercontinental quantum communication channel between China and Africa. The Jinan-1 quantum microsatellite, a compact approximately 100 kg platform launched July 2022, demonstrated key distribution rates 100 to 1,000 times faster than Micius and completed 13,000 km key exchanges at dramatically lower cost, validating the economics of a future quantum satellite constellation. China has announced plans for a GEO (geostationary orbit) high-orbit quantum satellite to launch around 2027, which Pan Jianwei confirmed in June 2025 will carry an optical atomic clock enabling space-based quantum timing as well as communications. Beijing is pursuing exactly this constellation approach: multiple quantum microsatellites coupled with the terrestrial fibre network to enable global quantum-encrypted communications. China’s advantage here is not temporary: fibre QKD networks require years and billions to build, and satellite-ground integration requires operational experience that cannot be quickly replicated.

China’s major technology corporations have had a more limited and more volatile role in quantum computing than their Western equivalents. Alibaba operated a quantum computing lab through its DAMO Academy and provided cloud quantum access through AliCloud from 2015; it also maintained a quantum communication and sensing research division. Baidu launched its quantum computing platform and contributed to the quantum software ecosystem with its PaddlePaddle Quantum framework. Both Alibaba and Baidu shut down their quantum computing teams in 2023 a significant signal that China’s tech giants concluded the near-term commercial returns did not justify the R&D burn at a time when AI investment demands were accelerating. The contrast with Google, IBM, and Microsoft all of which deepened quantum commitments through the same period is stark.

Huawei remains active in quantum research through its Huawei Research Labs, with published work on quantum algorithms, quantum chemistry simulation (Pangu quantum chemistry system), and quantum network equipment. Huawei’s quantum programme operates at a lower profile than its AI and 5G work, but its industrial integration capabilities and network equipment expertise are directly relevant to QKD network deployment.

Tencent Quantum Lab has remained active, diverging from the Alibaba and Baidu retreats. By 2025, Tencent was partnering with AceMapAI (Suzhou) on quantum simulations for drug discovery, applying quantum chemistry methods to pharmaceutical research pipelines. State Grid (国家电网), China’s dominant state-owned electricity operator, deployed five quantum computing applications at the December 2025 Zhongguancun Quantum Industry Conference, covering grid optimisation, power flow calculation, and load forecasting confirming that quantum applications are entering state infrastructure operators well before fault-tolerant hardware is available. The field’s dependence on government-backed research institutions and state-linked enterprises is correspondingly greater in China than in any other major quantum nation, and State Grid’s active deployment role signals that SOE procurement will be a primary commercialisation mechanism.

China launched its National Cryptographic Algorithm Competition (NGCC) in 2025, administered by the Institute of Commercial Cryptography Standards under the State Cryptography Administration. The competition is explicitly designed to select China’s own post-quantum cryptographic (PQC) algorithm standards separate from, and in deliberate divergence from, the NIST PQC standardisation process that the United States completed in 2024 with the finalisation of ML-KEM (CRYSTALS-Kyber), ML-DSA (CRYSTALS-Dilithium), and SLH-DSA.

The strategic logic of a parallel Chinese PQC standard is multi-layered. China’s State Cryptography Administration has long maintained domestic cryptographic standards (SM2, SM3, SM4) that diverge from NIST counterparts, both for sovereign control reasons and to ensure that Chinese cryptographic infrastructure cannot be analysed or weakened by foreign intelligence agencies familiar with US standards. Launching a dedicated PQC competition extends this sovereignty logic into the post-quantum era: China wants its government and critical infrastructure sector to adopt algorithms whose design, implementation, and any potential weaknesses are domestically controlled. The standards bifurcation also has commercial implications Chinese-sourced PQC algorithms, if adopted along the Belt and Road and in partner countries, could extend Chinese cryptographic influence in the same way that QKD infrastructure deployment has created hardware dependencies. Both QuantumCTek (which released China’s first high-performance PQC chip in November 2025) and China Telecom Quantum Group (which launched a hybrid QKD+PQC system in May 2025) are active participants in this standards landscape, positioning themselves to supply hardware and infrastructure that implements Chinese PQC algorithms. The NGCC represents the software and standards layer that sits above their hardware products.

China has only one pure-play listed quantum company QuantumCTek (688027.SH) but a growing pipeline of quantum startups approaching IPO and an ecosystem of listed companies with material quantum revenue exposure. The table below maps the full landscape of publicly traded quantum-relevant stocks on Chinese exchanges, plus the pre-IPO companies closest to listing.

Pure-Play Quantum Listed

QuantumCTek (国盾量子) 688027.SH Shanghai STAR Market. China’s only pure-play quantum listed company. Products: QKD hardware, quantum communication networks, superconducting computing systems, cold-atom gravimeters, single-photon detectors. China Telecom Quantum holds controlling stake. Revenue: RMB 253M in 2024 (+62% YoY). QKD market share >70%. US Entity List (May 2024).

Pure-Play Quantum IPO Pipeline

CIQTEK (国仪量子) Pre-IPO STAR Market application approved December 2025. Plans to raise ~1.17B RMB at an ~11.69B RMB valuation. Quantum precision measurement instruments, EPR spectrometers, quantum magnetometers, scanning electron microscopes. 700 employees. One of Hefei’s “big three.”

Origin Quantum (本源量子) Pre-IPO STAR Market filing in progress as of late 2025. Valued at ~6.9B RMB (~$950M). Full-stack superconducting QC, 72-qubit Wukong, China’s most advanced domestic processor. $294M raised including CAS and Anhui provincial government. Most quantum patents of any Chinese company.

Zhongke Fuhai (中科富海) Pre-IPO STAR Market IPO tutoring registered October 2025. CAS spinout for cryogenic equipment: helium purification, liquefaction, and dilution refrigerator components. Critical quantum supply chain enabler.

Quantum Supply Chain Listed A-Shares with Material Exposure

Western Superconducting (西部超导) 688122.SH STAR Market. Manufactures niobium-titanium (NbTi) superconducting wire the critical conductor used in dilution refrigerator magnets and superconducting qubit coils. Largest domestic supplier. Significant weighting in quantum computing basket ETFs on A-share markets.

Guoxin Technology (国芯科技) 688262.SH STAR Market. Semiconductor chip company with a 11.46% strategic stake in Guizhen Silicon Quantum (硅臻量子) and a 2022/2023 investment in Guihen Quantum. Also launched a quantum security chip product line and invested in Shanghai Hongge Post-Quantum (PQC software). Quantum exposure across computing hardware, PQC, and quantum-secure chips.

Hexin Instruments (禾信仪器) 688622.SH STAR Market. Mass spectrometry and scientific instruments company that in 2024 announced acquisition of Liangyi Technology (量羲技术), a Shanghai startup making dilution refrigerators for ion trap quantum computers. Post-acquisition, Hexin gains exposure to the most critical piece of cryogenic hardware in trapped-ion and superconducting quantum systems.

Tyrafos Science (腾景科技) 688195.SH STAR Market. Optical components: precision lens assemblies, optical filters, and optical coatings used in quantum communication photon sources and quantum computing optical control systems. Supplied components for the Jiuzhang photonic quantum advantage experiment (九章二号).

Fujida (富士达) 835640.BJ Beijing Stock Exchange (BSE). Manufactures high-precision RF coaxial cables and semi-rigid coax for quantum computing measurement and control systems the cabling that connects room-temperature electronics to cryogenic quantum chip packaging. High technical barriers; one of the few domestic suppliers of quantum-grade coax.

Accelink Technologies (光迅科技) 002281.SZ Shenzhen SME Board. Leading optical module maker and co-developer (with QuantumCTek) of photonic quantum chips for QKD. Quantum communication optical module market share >60%. Also produces single-photon detectors, quantum random number components, and waveguides for QKD terminals.

HGTECH (华工科技) 000988.SZ Shenzhen Main Board. The world’s only volume-producer of quantum dot laser chips for quantum communication, with single-photon emission sources selling at RMB 500,000 per unit and quantum business comprising ~25% of total 2024 revenue. Also supplies single-photon detectors to quantum network builders.

Lightcomm Technology (光库科技) 300620.SZ ChiNext. Owns quantum core optical chips; WDM and optical fiber components applied to quantum communications; participated in development of the domestic first commercial scientific-grade optical quantum computer. Shanghai Jiaotong University partnership for quantum technology transfer.

Hengtong Optic-Electric (亨通光电) 600487.SH Shanghai Main Board. Quantum-grade fiber optic cable manufacturer; supplied 60% of the national quantum backbone network. Ultra-low-loss fibers designed for QKD transmission. Deep-sea quantum cable technology for undersea quantum network applications.

Zhejiang Orient (浙江东方) 600120.SH Shanghai Main Board. Through subsidiary Shenzhou Quantum Communications, the first quantum communication commercialisation platform in Zhejiang province. Participated in construction of the Shanghai-Hangzhou quantum backbone (“Hu-Hang trunk line”). Awarded long-Yangtze-delta backbone upgrade contract worth RMB 420M.

Sinonet (神州信息) 000555.SZ Shenzhen Main Board. Co-branded quantum communication products with QuantumCTek under the “Shenmao Guodun” label. Quantum secure network operator covering 17 provinces, ~80 cities. Supplies quantum random number generation products and quantum key management systems.

Geer Software (格尔软件) 603232.SH Shanghai Main Board. China’s leading post-quantum cryptography software company; building PQC-ready PKI infrastructure products aligned with China’s National Cryptographic Algorithm Competition (NGCC) standards track. One of the most direct plays on China’s PQC standardisation drive.

Sugon / INSC (中科曙光) 603019.SH Shanghai Main Board. HPC and server infrastructure giant that holds ~18% of Origin Quantum. Delivered the first quantum-classical hybrid computing server globally and supplies supporting infrastructure for China’s quantum cloud platforms. US Entity List (2019), which accelerated domestic server and computing infrastructure self-reliance.