"Science and Technology Innovation Board Daily" reported on November 5th (Reporter: Wu Xuguang), on the evening of November 4th, Hexin Instrument disclosed a major asset restructuring plan. The company intends to acquire control of Shanghai Liangxi Technology Co., Ltd. (referred to as "Liangxi Technology" or the target company) by issuing shares and paying cash to Wu Ming and Shanghai Yandao Enterprise Management Limited Partnership (limited partnership), and raise funds accordingly.

According to the announcement, Liangxi Technology focuses on the research, production, and sales of equipment for ultra-low temperature and ultra-weak signal measurement and control. Superconducting quantum computing is currently the main application area of the target company's products.

Hexin Instrument stated that after this transaction, the listed company will enrich the category of high-end instrument and equipment products on the basis of the original main business of mass spectrometers and technical services, expanding the company's business scope.

Market analysts told reporters from "Science and Technology Innovation Board Daily" that, in terms of application areas, the target company belongs to the forefront of technology, and the future market space needs to see the implementation of quantum computing.

Regarding actual applications and market prospects, a quantum computing practitioner interviewed by a reporter from "Science and Technology Innovation Board Daily" stated that the target company is mainly engaged in the production and sale of equipment for ultra-low temperature and ultra-weak signal measurement and control, mainly used in specific fields such as scientific research, medical, aviation, and aerospace. The market demand is relatively limited. Currently, the level of commercial application in the domestic market is very low, and the downstream market mainly targets laboratories in research institutes and government departments.

"In the view of this quantum computing professional, the domestic quantum computing industry is currently an emerging industry, and its research and development still need to overcome uncertainties such as error rates, coherence times, refrigeration, etc. It is estimated that it will take at least 10 to 20 years to develop a practical general quantum computer."

"Currently, there are fewer than 2000 professionals in the country engaged in the field of quantum computing, and the scarcity of talents has become a bottleneck restricting the development of domestic quantum computing technology." The quantum computing professional further added.

It should be pointed out that as the audit and evaluation work of the assets of the trade transaction has not been completed, as of the signing date of the plan, the estimated value and transaction price of the assets of the trade transaction have not been determined.

According to the plan, in the recent two-year period, from 2022 to September 2024, the target company achieved revenues of 14.6677 million yuan, 29.36 million yuan, and 37.3442 million yuan; and achieved profits of 0.1936 million yuan, 3.3576 million yuan, and 11.6892 million yuan.

The above-mentioned quantum computing professionals stated that from the revenue scale of the target company, it indicates that the company has the ability to mass produce products and achieve small-scale applications, but the downstream market demand is limited. This is because in terms of the product performance of the target company, it is mainly responsible for signal measurement and control in extremely low-temperature environments, with more segmented application areas, not as widely applicable in the field of quantum technology as products like lasers.

"Star Daily" reporters noticed that on October 16 this year, Wu Ming, the founder of Quantxi Technology, said in a media interview that recently, Quantxi Technology has not only completed the production and delivery of core equipment for quantum computing, but also the company's Sino-French Low Temperature Metrology Science and Technology International Joint Laboratory has been used to establish China's own ultra-low temperature standards for the country and countries along the Belt and Road Initiative. At the same time, the company's related technology has also been used in the underground laboratory 2400 meters below Jinping, assisting in the international first experiment on the impact of cosmic rays on quantum computing.

The above-mentioned quantum computing professionals analyzed that because the products of the target company are less utilized in the domestic market, it indicates that Quantxi Technology may have plans to export products to overseas markets, but the key is which countries to export to. After all, looking at the global market, the applications of related products are similarly limited.

Hexin Instruments is a national key high-tech enterprise under the Torch Program, specializing in the research, development, production, sales, and technical services of mass spectrometers, mainly providing mass spectrometers and related technical services to customers.

Hexin Instruments is under pressure this year. The financial report shows that in the first three quarters, Hexin Instruments achieved revenues of 0.149 billion yuan, compared to 0.249 billion yuan in the same period last year, a year-on-year decline of 40.08%; and achieved a net loss of -25.71 million yuan, a 56.63% decrease in losses compared to the same period last year.

Hexin Instruments stated that as the company has basically achieved full coverage of the technology route and the product line has been basically completed, it has gradually reviewed and adjusted the allocation of research and development resources, leading to a reduction in the number of R&D projects.

As of the press release, Hexin Instruments' stock price is 29.78 yuan per share, up 58.66% in the past three months. Currently, the company's total market value is 2.085 billion yuan.