TuringQ signed an IPO counseling agreement with Guotai Haitong Securities on July 24, formally beginning the process for an A-share IPO.
The move, confirmed by IPO Zaozhidao, makes TuringQ the third quantum computing company, after Origin Quantum and QBoson, to begin an A-share IPO process.
Founded in 2021, TuringQ was established by Jin Xianmin, a Changjiang scholar, distinguished professor at Shanghai Jiao Tong University, and director of its Institute of Light Science and Technology. It is reportedly China’s first company focused on integrated photonic chips and programmable photonic quantum computers, and says it has assembled the country’s only team with capabilities spanning chip fabrication, quantum computing, artificial intelligence, and photonic computing.
TuringQ has worked on lithium niobate materials and fabrication processes, developing wafer-scale, high-speed programmable photonic quantum chips. Its team has integrated more than 1,000 active and passive photonic devices on a single chip and developed a 32-by-32 ultrafast programmable photonic quantum chip with a clock speed of about ten gigahertz. The company said the technology lays a hardware foundation for the high-speed reconfiguration required for future real-time quantum error correction.
On the engineering side, TuringQ has worked closely with Wuxi-based Chip Hub for Integrated Photonics Xplore, or CHIPX, to build China’s first photonic chip pilot production line. The facility provides a full-stack, closed-loop process covering chip design, in-house fabrication, packaging, and testing. This enables the production and scaled manufacturing of wafer-scale thin-film lithium niobate photonic chips and high-performance core photonic quantum components.
The setup has been credited with shortening the R&D iteration cycle for core photonic chips, addressing one of the engineering bottlenecks in scaling up photonic quantum computing production.
Using its proprietary chips, TuringQ has also advanced system-level integration and architecture. Through technologies including co-packaged optics, it has achieved efficient heterogeneous integration between photonic quantum chips and conventional electronic chips, and built a scalable distributed quantum computing cluster architecture.
On that foundation, TuringQ introduced TuringQ Gen2, a large-scale hybrid integrated photonic quantum computer. The system incorporates key modules including quantum light sources, computing networks, and single-photon detection, and is capable of coherent control over 56 photons. It can solve complex problems involving more than 100,000 variables and support tensor-network simulations at scales exceeding 100 qubits.
The system can be deployed at room temperature in standard data center environments, expanded across multiple nodes, and connected directly to existing computing infrastructure.
TuringQ has also developed an architecture that integrates quantum computing with conventional supercomputing centers to build distributed quantum computing clusters. The approach is designed to enable efficient coordination between quantum computing capacity from quantum processing units, or QPUs, and classical computing capacity from graphics processing units and central processing units.
The company describes this as a critical step in moving quantum computing from research demonstrations toward industrial-scale computing infrastructure. It also underpins TuringQ’s effort to accelerate the nationwide deployment of artificial intelligence computing centers built around quantum-supercomputing convergence.
The aim is to move photonic quantum computing from research prototypes to standardized computing nodes and, ultimately, cluster-scale computing infrastructure, providing a foundation for the large-scale commercialization of quantum computing capacity.
To date, TuringQ has undertaken more than ten national-level, provincial- and ministerial-level, and central state-owned enterprise projects spanning hardware, algorithms, and ecosystem applications.
Its products have also been deployed in financial technology, biomedicine, energy and transportation, government services and security, and other sectors. TuringQ has entered into partnerships with China Mobile, State Grid Corporation of China, Shaanxi Big Data Group, Hygon, Moore Threads, Zhongshan Hospital of Fudan University, and others.
Jin previously disclosed that TuringQ generated RMB 500,000 (USD 74,014.9) in revenue in 2022, before revenue surpassed RMB 10 million (USD 1.5 million) in 2023. In 2025, the value of its orders exceeded RMB 100 million (USD 14.8 million), while revenue reached an eight-figure RMB sum. Its compound annual revenue growth rate was 200%.
TuringQ has completed two funding rounds this year totaling nearly RMB 1 billion (USD 148 million), valuing the company at more than RMB 7 billion (USD 1 billion).
This article was adapted based on a feature originally written by Stone Jin and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.
Note: RMB figures are converted to USD at rates of RMB 6.76 = USD 1 based on estimates as of August 11, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.