Shanghai photonic quantum computing company TuringQ has officially filed to launch a Chinese A-share IPO, positioning itself to become the first publicly listed quantum computing company on mainland Chinese markets. TuringQ signed an IPO tutoring agreement with Guotai Haitong Securities on July 24, 2026 and completed its filing on August 5, formally kicking off the listing process.
China's first quantum listing race
TuringQ is one of several Chinese quantum firms racing toward public markets after the Shanghai Stock Exchange added quantum technology as a subcategory within its STAR Market listing rules in April 2026. Founded in 2021 by Shanghai Jiao Tong University professor Jin Xianmin, TuringQ has built a full-stack photonic quantum chip technology system and established what it says is China's first photonic quantum chip pilot line.
$148 million raised, $1 billion valuation
The company completed two funding rounds in the first half of 2026, raising a cumulative RMB 1 billion (roughly $148 million) at a valuation exceeding RMB 7 billion (about $1 billion). Order value surpassed RMB 100 million in 2025, according to filings — a rare signal of commercial traction in a sector still dominated by government and research-lab customers.
Photonic quantum's public-market moment
The move mirrors an escalation of quantum activity globally. OptQC and NTT recently signed a 1-million-qubit optical quantum alliance, while UK-based Olix Computing raised $312M to challenge HBM with photonic AI inference. Domestic peers QuiX Quantum and Sizhen Chip and USTC have also pushed the photonic quantum stack into commercial territory.
What a Shanghai listing would mean
If TuringQ clears the STAR Market's tutoring and review process, it will offer public investors their first direct exposure to a Chinese quantum computing company. That could reset benchmarks for the sector's valuation and, more importantly, unlock a domestic capital pool willing to underwrite the long commercialization horizon of quantum hardware.
Reporting based on coverage from Global Times, Quantum Computing Report and BigGo Finance.