October 7, 2026 — Guofu Quantum (00290.HK) has recently announced a series of business developments spanning asset management, securities underwriting, quantum technology and virtual assets. Its subsidiaries have secured regulatory approval for two retail funds, participated in the Hong Kong listing of Tongcheng New Materials, and continued to expand into emerging areas including quantum AI and quantum communications.
New Progress in Asset Management
On September 30, the Hong Kong Securities and Futures Commission approved the Open-Ended Fund Company (OFC) established by Fuqiang Asset Management, a wholly owned subsidiary of Guofu Quantum, along with two retail sub-funds.
The two funds are the Fuqiang Asset Technology Select Equity Fund and the Fuqiang Asset Fixed Income Fund, with Fuqiang Asset Management serving as their investment manager. Both funds are scheduled to be offered publicly in November.
The Technology Select Equity Fund will invest at least 70% of its assets in stocks related to artificial intelligence, with up to 30% allocated to technology companies outside the AI sector. The Fixed Income Fund will invest at least 80% in international and Chinese investment-grade bonds, while up to 20% may be allocated to Hong Kong-listed high-dividend stocks.
Fuqiang Securities Participates in Tongcheng New Materials IPO
In its securities business, Fuqiang Securities also recently participated in a major Hong Kong IPO.
On September 29, Tongcheng New Materials Group Co., Ltd. (9607.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange, marking another step in its A+H share strategy.
Fuqiang Securities, a wholly owned subsidiary of Guofu Quantum, acted as overall coordinator, joint global coordinator, joint bookrunner and joint lead manager for the offering.
Tongcheng New Materials offered approximately 68.12 million H shares at HK$44 per share, raising net proceeds of about HK$2.901 billion. The company has been expanding its electronic chemicals business, with cumulative shipments of semiconductor photoresists exceeding 1 million gallons.
Meanwhile, Southbound Stock Connect investors have continued to increase their holdings in Guofu Quantum. As of September 28, Southbound funds held approximately 459 million shares, representing about 4.45% of the company's issued ordinary shares.
Quantum Technology Becomes Another Key Focus
Alongside its traditional financial businesses, quantum technology has also become an increasingly visible part of Guofu Quantum's recent activities.
On September 29, Xinhua Daily reported on a new batch of frontier technology application scenarios in Jiangsu Province. Among them was the Quantum AI Innovative Drug Design Application Scenario, led by Yitu Shengke. The project combines quantum computing and artificial intelligence to explore the simulation of key processes such as drug-target interactions.
On September 22, Guodun Quantum's Quantum Technology-Enabled Secure Data Transmission Solution for Housing Provident Fund Centers and Banks won both the First Prize and the Popularity Award at the 2026 Hechuang Scenario Competition.
The solution uses a quantum metropolitan area network to provide encrypted channels for data transmission between housing provident fund centers and banks. It has already been applied in government services, finance and energy.
The broader quantum technology sector has also seen a series of developments. At a State Council Information Office press conference on September 29, China's Ministry of Science and Technology said that during the 15th Five-Year Plan period, the country will strengthen research and development in frontier areas including artificial intelligence, quantum technology, biotechnology and brain-computer interfaces.
Hong Kong Continues to Develop Its Virtual Asset Framework
Hong Kong's virtual asset market has also seen new developments.
On October 5, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, said the government plans to submit an amendment bill by the end of 2026 to establish a licensing regime covering four types of virtual asset services: trading, custody, advisory and asset management.
On September 30, HSBC announced the name of its planned Hong Kong dollar stablecoin, HSBC RedCoin. The bank plans to launch it in the second half of 2026 through PayMe and the HSBC Hong Kong app. The stablecoin has not yet been issued.
The same day, Open Standard officially launched the Open USD (OUSD) stablecoin, with Coinbase, Mastercard, Shopify, Stripe and Visa among its founding partners. OUSD supports multiple blockchain networks, including Ethereum, Solana and Base.
From asset management and securities to quantum technology and virtual assets, Guofu Quantum is extending its business into several emerging areas while maintaining finance as its core. How large these new businesses can become will ultimately depend on the rollout of its funds, the implementation of related projects and the development of the broader markets.