TuringQ joins China's quantum computing IPO race as photonic sector matures

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Shanghai based TuringQ has entered Chinas pre IPO guidance process, becoming the latest Chinese quantum computing company chasing a public listing as the countrys quantum sector shifts its focus from pure research toward actual commercialization

The company filed for IPO tutoring with the Shanghai branch of the China Securities Regulatory Commission, with Guotai Haitong Securities serving as sponsor, in China this pre listing process is genuinely different from how things work in the US, companies go through a mandatory guidance period where the sponsoring securities firm helps strengthen corporate governance, accounting practices and internal controls before a formal IPO application can even be filed, its meant to improve the quality of prospective listed companies rather than being a guarantee of eventual approval

TuringQ, founded in February 2021, focuses specifically on photonic quantum chips and computers, using particles of light to process quantum information rather than the superconducting circuits or trapped ions most competitors rely on, the pitch for this approach is genuinely compelling on paper, photonic systems can operate at room temperature instead of needing ultra cold refrigeration, may scale more easily, and can lean on manufacturing techniques already developed for the optical communications industry, the company has invested heavily here too, participating in a 2025 pilot production line in Wuxi capable of wafer scale manufacturing of thin film lithium niobate photonic chips, integrating thousands of optical components onto individual chips as a real step toward mass production

The company has genuinely accelerated its fundraising this year, reportedly raising nearly 1 billion yuan during 2026, with media reports valuing it above 7 billion yuan following an April Series C round, and the filing lists relatively modest registered capital of about 1.92 million yuan, with Shanghai Siliang Quantum Technology holding a 34.1 percent controlling stake

TuringQ joins a genuinely growing queue of Chinese quantum companies moving toward public markets, Origin Quantum entered STAR Market IPO tutoring back in September 2025, measurement company Ciqtek submitted its own STAR Market application later that year, and Beijing based QBoson completed IPO tutoring registration just this past July, this whole wave follows the Shanghai Stock Exchange formally recognizing quantum technology as a strategic emerging industry back in April, giving the sector a clearer regulatory pathway to going public

Industry experts quoted by state media were careful to add real caveats though, the sector remains genuinely early stage, current revenue is concentrated in specialized computing services and cloud access rather than broad industrial deployment, and no single quantum architecture, photonic, superconducting or trapped ion, has yet emerged as a clear industry standard, meaning a successful IPO would carry real symbolic weight without alone determining whether any of these companies actually build lasting commercial businesses

TuringQ Joins China's IPO Pipeline as Quantum Firms Push Toward Commercializationthequantuminsider.com