Soaring Quantum Communication: Guodun Quantum Increased 10 Times On The First Day Of Listing

On July 9, the best A-share new shares were born.

On the same day, GuoDun quantum (688027. SH), known as "the first stock of quantum communication", landed on the science and technology innovation board with an offering price of 36.18 yuan / share and an opening price of 280 yuan / share, an increase of 673.9% over the issuance price. Since then, it continued to soar, with the highest price reaching 399 yuan / share, up more than 1000%. By the end of the day, it was 370.45 yuan / share, up 923.91%.

"10 times increase" reached one day, GuoDun quantum's A-share debut far exceeded market expectations. The reporter of 21st century economic report has noticed that many investors have posted to lament the "exaggeration" and "madness" of the company's stock price trend.

On the evening of July 9, China Securities Finance Corporation announced that it would suspend the securities lending business of "GuoDun quantum" securities from July 10, and the recovery time will be further notified.

What is the charm of GuoDun quantum? Is it so sought after by capital?

According to the prospectus, GuoDun quantum is the industry leader with the highest market share in the field of quantum communication in China. Quantum secure communication technology is a new security communication technology based on quantum technology. At present, the industry is in the promotion period and has high technical barriers. Behind GuoDun quantum is the quantum communication team of China University of science and technology, which has participated in many major projects such as "Beijing Shanghai trunk line", "national wide area quantum secure communication backbone network" and "Wuhe trunk line". In addition, GuoDun quantum also attracted market attention because its two shareholders were pan Jianwei, academician of the Chinese Academy of Sciences.

Despite the above multiple halos, GuoDun quantum's IPO application on the science and technology innovation board has been questioned by the market due to the uncertainty of the future of quantum communication since its inception. Especially in the registration process, GuoDun quantum took half a year, and was once considered to be on the market.

Make rich myth

For the first day performance of GuoDun quantum, many senior investment banks also expressed "surprise". Wang Jiyue, a senior investment bank personage, said, "the reasons are various. There are concepts, small plates and warm market atmosphere, which leads to speculation."

GuoDun quantum is sought after by the capital and cannot do without the current hot market environment. On July 9, the total turnover of Shanghai and Shenzhen stock markets exceeded 1.7 trillion yuan, the fourth consecutive trading day exceeding 1.5 trillion yuan.

As for individual stocks, GuoDun quantum can be called the purest "quantum communication concept stock" of a share at present. This time, it plans to issue 20 million shares and raise no less than 304 million yuan to invest in quantum communication network equipment project and R & D center construction project.

The trading data of the day showed that the total transaction volume of GuoDun quantum was 4.144 billion yuan, and the turnover rate was as high as 81.56%. After soaring 10 times, the circulation value of GuoDun quantum is only 6.033 billion yuan, with a total market value of 29.636 billion yuan.

From this market performance, Wang Jiyue believes that the issue price may be low, "inquiry institutions may not have expected such a high, this increase will stimulate subsequent other companies to increase the offer."

Behind the soaring share prices, there are also stories of wealth making that are enviable.

According to the winning lot results of GuoDun quantum, there are 13600 winning numbers, and each winning number can subscribe for 500 GuoDun quantum stocks. If investors sign and sell at the highest point, they can earn about 180000 yuan. Even if they sell at the closing price of 370.45 yuan per share, they can also earn 167000 yuan.

The wealth of shareholders is also rising. From the shareholder structure disclosed before, GuoDun quantum has many star shareholders.

After the issuance, the largest shareholder of GuoDun quantum was held by science and Technology University, holding 13.5%; pan Jianwei, a well-known academician of the Chinese Academy of Sciences and chief scientist of "Mozi" of quantum communication science satellite, held 8.26%; Guoke holding 5.7% was the third largest shareholder.

In addition, the penetration of GuoDun quantum shareholder structure also involves A-share listed company Shenzhou information, Zhejiang Dongfang, yinlun shares, Guoyuan securities, etc.

Among them, pan Jianwei's shareholder identity has always been the focus of the market. It is reported that Pan Jianwei currently holds 6.608 million shares of GuoDun quantum and is the first natural person shareholder of GuoDun quantum. According to the opening price of the shares, the value of his shares was 1.85 billion yuan. After the closing of the same day, the market value of Pan Jianwei's shares had reached 2.448 billion yuan.

Although Pan Wei has not been a shareholder in the company, it has not participated in the management of the company since its establishment.

According to the company's first day performance after listing, on July 9, the reporter contacted GuoDun quantum, and the relevant person in charge did not comment, only said that the public information would prevail.

The product application is in the promotion period

From the main business point of view, GuoDun quantum is mainly engaged in the research and development, production, sales and technical services of quantum communication products.

"Quantum communication", in short, the current practical quantum information technology (quantum secure communication technology) mainly focuses on information security, providing stable, reliable and standardized quantum security services for various industries and fields.

At present, the total length of the practical optical fiber quantum secure communication network has reached more than 7000 km, of which more than 6000 km use GuoDun quantum products and are in online operation. GuoDun quantum claims that it is the first enterprise in China to engage in the industrialization of quantum communication technology, with the highest market share in the field of quantum communication.

However, GuoDun quantum also admitted that quantum secure communication technology is a new technology, and its product application is in the promotion period at this stage, and there are difficulties in market promotion.

A researcher in the field of quantum communication told reporters, "at present, quantum technology in China is only in the theoretical stage, which is far from practical application. At present, it is mainly in the simple experimental stage between banks. The difficulty of quantum communication is that photons can't be saved efficiently, resulting in low transmission rate, because optical fiber has attenuation

What's more, a large part of GuoDun quantum's business comes from related parties.

In the letter of implementation of the Audit Center's opinions, the regulatory authorities asked GuoDun quantum to answer, "whether the acquisition of relevant business mainly depends on the relationship with China University of science and technology and China Science and technology quantity network" and "to what extent the time and scale of Digital China's purchase of the company's products are affected by China University of science and technology and national science, technology and quantity network".

GuoDun quantum's affiliated party, guokequan, ranked among the top five customers in 2017 and 2018. In 2017-2019, digital China is the company's largest customer, with sales revenue accounting for 21.14%, 57.90% and 59.52% respectively. In terms of equity structure, there is an obvious correlation between digital China integration and GuoDun quantum.

"The controversy over the company is whether quantum communication is a matter with broad market prospects or a story to be verified? The company's business is essentially derived from related parties rather than pure market access. In terms of the length of registration, the regulatory authorities are also hesitant. " Wang Jiyue said.

However, from the core of the registration system, as long as the risks are fully disclosed, the listing of GuoDun quantum will not be hindered.

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