On July 9, 2020, QuantumCTek Co., Ltd. began trading on the Shanghai Stock Exchange’s Science and Technology Innovation Board (STAR Market) under ticker 688027, becoming the first quantum technology company to list publicly in China. Shares closed at 370.45 yuan, up 924% from the initial public offering price of 36.18 yuan.
Founded in 2009 as a spin-off from the University of Science and Technology of China (USTC), QuantumCTek specializes in quantum communication products and QKD equipment. The company played a central role in building the Beijing-Shanghai quantum communication backbone. As reported by Caixin Global, the firm held 212 quantum communications-related patents in China and abroad and recorded 256 million yuan in revenue in 2019.
The China Securities Regulatory Commission had granted final listing approval on June 4, 2020. The controlling equity holder was the asset management unit of USTC, holding an 18 percent stake at the time of listing.