QuantumCTek makes its debut on the Shanghai Stock Exchange on July 9, 2020.
QuantumCTek, a developer of quantum communication products based in Hefei, East China’s Anhui province, made its debut on the Shanghai Stock Exchange on Thursday, becoming the first A-share-listed company in China’s quantum communication field.
Shares of QuantumCTek closed at 370.45 yuan, 923.91 percent higher than the initial offering price of 36.18 yuan each.
The company is known for its contributions to building the 2,000-kilometer Beijing-Shanghai quantum communication trunk line and the ground station of Mozi, the world’s first quantum satellite.
QuantumCTek injected 73.44 million, 96.21 million and 75.94 million yuan into technological research and development in the past three years, respectively, accounting for 25.89 percent, 36.35 percent and 29.45 percent of the annual business revenue, according to People’s Daily Online.