Origin Quantum and China's Quantum IPO Race: Wukong, STAR Market and Rivals
A company from the same ecosystem
Origin Quantum is one of China's best known quantum computing companies. Its machine, Wukong, is a 72-qubit superconducting computer that launched in January 2024, per search reporting. In the same ecosystem as the Hefei hub, Origin sells cloud access and hardware, and it ties into the superconducting approach in superconducting qubits. Search reporting also says Wukong drew about 20 million remote visitors worldwide by early 2025. That is a visit count, not a measure of paying customers, so read it as curiosity, not revenue.
The IPO pipeline
A Shanghai Stock Exchange news item dated August 2026 reports that Origin Quantum began STAR Market listing tutoring in September 2025. Tutoring is the step before a formal application. The same item reports several rivals in the queue:
- QBoson (Beijing) completed IPO tutoring registration in July 2026.
- TuringQ (Shanghai, photonic quantum computing) is pushing its own listing, with tutoring reported in August 2026 elsewhere.
- Ciqtek (precision measurement, not computing) filed a STAR Market application in December.
An industry expert quoted by the exchange said listings could open a new long-term funding channel, but large-scale industrial use remains limited. That is a sober and useful frame.
The rule change
In April 2026, the exchange reportedly added quantum technology as a subcategory of strategic emerging industries under its STAR Market listing rules, giving quantum firms a clearer basis to apply. Precedent exists: QuantumCTek became the first STAR Market company with quantum as its core business in 2020, as covered in the quantum communication guide.
What is unconfirmed
Be careful with numbers:
- Search reporting says Origin completed a pre-IPO financing of almost 3 billion yuan. A 36Kr report puts post-round valuation near 24 billion yuan while another blog says 21 billion pre-money. Neither is backed by an exchange filing I could read.
- I found no accepted application, prospectus or listing date for Origin.
- For the latest status, check the STAR Market application register on the Shanghai Stock Exchange website.
Compare with the West
Western quantum firms have gone public through listings and mergers, see the company landscape and Quantinuum Ltd and its IPO path. Capital markets matter because quantum hardware is expensive and slow to build. A funding channel for Chinese firms, like the one for US firms, can speed up engineering. For a wider view see the scorecard.
A note on tokens
Company listings are about real companies with filings and audits. The QUANTUM (QNT) token is an independent community memecoin, not issued by or connected to Quantinuum Ltd, Origin Quantum or any government. See the memecoin versus the company. Nothing here is financial advice, and no one can predict how any listing or asset will perform.
Why it is exciting anyway
Whether or not one particular IPO happens on schedule, the trend is clear: quantum is moving from lab demos to businesses with customers, boards and public disclosure. More transparent companies mean more data for everyone trying to understand how close useful quantum computing really is.
How to follow the process
A STAR Market listing typically moves through stages: tutoring, a formal application, exchange review, registration and finally trading. Each step produces documents that are public in China. If you want facts rather than rumor, watch the exchange register and company announcements, read the prospectus when one exists, and look at revenue, customers and research spending rather than headlines. Quantum businesses are early-stage, many are not profitable, and timelines slip. Treat news about any listing as information about the industry, not as a signal about any token or asset.
Sources and further reading
- Shanghai Stock Exchange: quantum firms and the STAR Market (Aug 2026)
- 36Kr: Origin Quantum financing and valuation report
- AI2Work: Chinese quantum IPO race (blog, less authoritative)
- The Quantum Insider: QuantumCTek background (May 2024)
Reported as of 2026-10-09. Press and company claims change, so check the primary documents before relying on any figure. Nothing here is financial advice, and the QUANTUM (QNT) memecoin is independent and has no link to any lab, company or government mentioned.
Frequently asked questions
Is Origin Quantum publicly listed?
I found no evidence of a listing. It reportedly began STAR Market tutoring in September 2025. Check the Shanghai Stock Exchange register for current status.
What is Wukong?
Origin Quantum's 72-qubit superconducting quantum computer, launched in January 2024 per reporting.
Can I buy Origin Quantum through the QNT memecoin?
No. QNT is an independent memecoin with no link to Origin Quantum or any company. This is not financial advice.
Keep reading
- China's Quantum Communication Networks: Micius, Fiber Backbones and QuantumCTek
From the Micius satellite to the Beijing to Shanghai fiber trunk, how China built the world's most deployed quantum key distribution networks and what the limits are. - China vs the West in Quantum: An Evidence-Based Scorecard
Who leads where? A balanced look at computing, error correction, networking, talent and investment using the June 2026 SCSP scorecard and peer-reviewed results. - Quantum Computing Companies to Know (and Not to Confuse)
A neutral overview of well-known quantum computing companies and what approach each takes, plus how they differ from a memecoin. - QUANTUM (QNT) Memecoin vs Quantinuum Ltd: Are They Related?
The QUANTUM (QNT) memecoin on Solana is not related to the quantum computing company Quantinuum Ltd. Here is the difference.
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