(Yicai Global) Aug. 17 – Jiangsu-based Hengtong Optic-Electric Co., Ltd. [SH: 600487] recently announced a joint venture with Anhui Qasky Quantum Science and Technology Co. Ltd., to construct and operate services including a demonstrative application line of quantum private communications.
The two companies plan to establish a joint venture, tentatively named Jiangsu Hengtong Qasky Quantum Information Institute Co., Ltd. The listed firm will contribute investment of CNY21 million (USD3.2 million) in cash, accounting for 70 percent.
Their joint venture partner will contribute the remaining 30 percent with its intangible assets, primarily the core patent of quantum key distribution, Hengtong said.
The newly established joint venture will advance and carry out the implementation, construction and operation of a "XX Safe Quantum Communication Line," the first demonstrative application line of quantum private communications in Jiangsu province, according to Hengtong.
Anhui Qasky Quantum Science and Technology Co. Ltd. is China's first high-tech enterprise specializing in quantum information industrialization, with core researchers from the University of Science and Technology of China. The company has set up, using a quantum cryptography network, the first domestic administration website using quantum private communication. The website will be used for government administration in Wuhu city.