Qingke Holdings Investment | SpinQ Completes Series D Financing of RMB 1 Billion

Recently, SpinQ, a leading domestic quantum computing company, announced the completion of a RMB 1 billion Series D financing round, bringing its total fundraising over the past six months to RMB 2 billion.

New investors in this round include CICC Capital, Shanghai Semiconductor Industry Investment, AVIC Honghua, Shanghai Electric Science & Technology, Grand China Capital, Sichuan Xingchuan, Jinpu Investment, Hengxu Capital, Shangqi Capital, Hongtai Fund, Luhua Investment, Industrial Securities Investment, Shenzhen Press Group, $ZERO2IPO (01945.HK)$, Boga Capital, and others; existing shareholders including Tounkong Donghai, Jingkai Capital, Qingdao Hanrui, and Hainan Feng Kaixiang continued to increase their investments, while seasoned industrial investors Lü Dalong and Lan Kun also participated in this round of funding.

The raised funds will be fully allocated to the end-to-end R&D of fault-tolerant universal quantum computers, core process iteration, and global industrial ecosystem expansion, supporting the company’s accelerated advancement of next-generation quantum computing core technologies and driving quantum computing toward a new stage characterized by higher usability, stronger scalability, and clearer application value.

China’s 15th Five-Year Plan (2026–2030) has designated quantum technology as a core track within future industries, explicitly setting the strategic goal of 'developing a fault-tolerant universal quantum computer.' Shenzhen’s 15th Five-Year Plan has similarly included quantum technology among its six key priority directions for future industries. The current round of investors forms a four-tier state-owned capital matrix encompassing national-level guidance funds, central SOE industrial funds, and provincial, municipal, and district-level industrial funds—an uncommon cross-regional joint deployment of state capital in the quantum computing sector that closely aligns with national and local industrial strategies.

Advancing Fault-Tolerant Computing: Full-Stack In-House R&D Strengthens Technological Foundation

The global quantum computing industry is currently at a critical inflection point. Competition has shifted from a singular focus on physical qubit counts to a comprehensive contest centered on system stability, error-correction capabilities, and engineering deliverability. The industry is steadily transitioning from the NISQ (Noisy Intermediate-Scale Quantum) era toward the fault-tolerant quantum computing era.

Quantum error correction is the essential pathway to universal quantum computing, and the pace of its technological breakthroughs directly determines whether quantum computing can move from laboratory settings to large-scale industrial applications. Aligned with the goal of fault-tolerant computing, Origin Quantum has established a dual-track advancement model integrating theoretical innovation and experimental validation.

On the theoretical front, the cascaded quantum Hamming code decoding scheme developed by the company in collaboration with research teams has been accepted by QCE 2026, a premier international academic conference in quantum error correction. This scheme significantly enhances both the error correction threshold and decoding efficiency while maintaining low decoding complexity, offering a novel theoretical pathway for hardware implementation of large-scale fault-tolerant quantum computing. On the experimental side, Origin Quantum is comprehensively advancing the hardware realization of quantum error correction and expects to complete d=3 surface code quantum error correction verification by 2026. Concurrently, the company is progressing across the full R&D chain—including foundational control and measurement optimization, intelligent error-correction decoding, and the construction of a closed-loop fault-tolerant operating environment—with all initiatives proceeding according to plan.

Hardware fabrication processes form the foundational bedrock for realizing fault-tolerant computing. Leveraging Shenzhen’s semiconductor industry cluster advantages, Origin Quantum has built its own in-house superconducting quantum chip R&D and pilot production line, establishing a fully integrated, self-reliant closed loop covering chip design, process development, tape-out manufacturing, and packaging/testing. The company has already completed autonomous tape-outs and packaging/testing validation for 25-qubit and 103-qubit superconducting quantum chips based on its new architecture, building a product portfolio that addresses diverse scale requirements and enabling batch delivery capabilities—thus achieving full-chain self-reliance and controllability from core component R&D to production. In 2026, the company will continue iterating its chip fabrication processes and accelerate development of next-generation process nodes to provide robust manufacturing support for new-generation quantum chips designed for fault-tolerant computing.

Building on this foundation, Origin Quantum has established a unique full-stack technological moat in the industry: it is the only quantum computing company globally pursuing dual-track technological development in both superconducting and nuclear magnetic resonance (NMR) approaches. Its technology stack spans the entire value chain—from quantum chip design and quantum EDA software to control systems, full-system manufacturing, cloud services, and algorithmic applications—providing a complete technological base for system-level co-optimization in fault-tolerant computing.

Deepening Real-World Applications: Expanding Industrial Value through Quantum-Supercomputing-AI Convergence

Leveraging its full-stack technical capabilities and engineering expertise, SpinQ has established a mature commercial delivery system, creating a virtuous development cycle in which short-term commercialization reinvests into long-term R&D.

In the superconducting quantum computing segment, the company continues to achieve key delivery milestones: in 2023, it completed China’s first overseas delivery of a superconducting quantum chip; in 2024, it shipped China’s first full superconducting quantum computer abroad; and in 2025, it began mass deliveries of its 'Ursa Major' superconducting quantum computing systems, joining a select group of global companies with industrial-grade superconducting quantum computer delivery experience. Meanwhile, SpinQ is also the only Chinese quantum computing company whose products span all five continents, operating in over 40 countries and regions, serving more than 200 universities, research institutions, and industry-leading clients, thereby building an extensive global ecosystem of industrial partnerships and end users.

Looking ahead to future computing power evolution, SpinQ is strategically developing an integrated 'quantum-supercomputing-AI fusion' computing infrastructure and a 'Quantum + AI' application ecosystem, aligning closely with national strategic priorities.

At the infrastructure level, the 'quantum-supercomputing-AI fusion' approach aims to build a heterogeneous computing architecture that integrates QPUs (quantum processing units), CPUs (central processing units), and GPUs (graphics processing units). The CPU acts as the system’s 'commander,' orchestrating tasks and managing global scheduling to ensure efficient coordination of computing resources. The GPU, equipped with massive parallel computing cores, handles high-throughput workloads such as AI training and scientific simulations, serving as the core engine for current computational acceleration. The QPU specializes in tackling complex problems—such as combinatorial optimization and molecular simulation—that are intractable for classical computing, offering exponential speedup potential in specific scenarios. Together, these three components fulfill distinct yet complementary roles, forming a complete computing chain characterized by 'CPU-led orchestration, GPU-driven parallel acceleration, and QPU-enabled breakthrough performance,' providing next-generation infrastructure far surpassing any single-compute paradigm for cutting-edge research and industrial applications.

On the application ecosystem front, SpinQ adheres to a dual-enabling 'Quantum + AI' technical roadmap. Looking forward, quantum algorithms are expected to inject new momentum into AI—efficiently handling high-dimensional data and complex feature extraction in areas such as drug molecule screening, new material simulation, and financial risk modeling, significantly reducing model training and inference time, and propelling AI from a 'data-driven' era toward a new phase of 'quantum-enhanced' intelligence. Conversely, AI technologies are becoming critical accelerators for making quantum hardware practical: deep learning can enable real-time identification and suppression of quantum noise, reinforcement learning can optimize quantum circuit compilation and scheduling, and AI-driven error-correction decoding schemes can substantially enhance the reliability and efficiency of quantum computation. These two fields continuously reinforce and iterate upon each other, jointly closing the technological loop toward practical quantum computing.

In terms of industrial implementation, SpinQ continues to expand cross-sector application scenarios. In June 2026, the company entered into a strategic partnership with Sino-Phenix, a remote sensing technology firm, to jointly advance 'Quantum + AI + Remote Sensing' integrated innovation, addressing computational bottlenecks in traditional remote sensing big data processing and driving the engineering deployment of quantum technologies in satellite remote sensing. Going forward, the company plans to progressively extend quantum computing applications into materials simulation, biopharmaceuticals, financial optimization, industrial scheduling, and other domains, unlocking tangible industrial value from quantum computing technologies.

Diverse Capital Partners Unite Toward the Long-Term Goal of Universal Quantum Computing

This round of financing brings in multiple state-owned investment platforms, industrial capital, and long-term institutional investors. Capital partners with diverse backgrounds will empower SpinQ across multiple dimensions—including strategic planning, industrial use cases, and regional resources—to drive synergistic progress in both technological development and industrial implementation.

Dr. Jingen Xiang, Founder and CEO of SpinQ, stated: 'Quantum computing is a hard-tech endeavor that demands long-term commitment, systems engineering capabilities, and sustained investment. Following this financing round, the company will remain focused on our core objective of building a fault-tolerant universal quantum computer. We will significantly increase R&D investment in quantum error correction and key hardware-software technologies, continue expanding our interdisciplinary research team, accelerate iterative upgrades of our technological achievements, and collaborate with industrial, academic, and ecosystem partners to explore the long-term value of quantum computing.'

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