On December 18th, Lu Pin, the Chairman of Guodun Quantum, suddenly passed away in his office at the age of 46, sparking speculation about the cause of death.
In the evening of December 18th, Guodun Quantum issued a statement announcing the death of Chairman Lu Pin. As of the date of the announcement, Lu Pin did not hold any shares of the company, nor were there any unfulfilled stock lock-up commitments.
That evening, the Hefei police released a statement stating that around 1 p.m. that day, they received a call reporting that Lu (male, 46 years old) had lost consciousness in an office at the intersection of Wangjiang West Road and Kongque Tai Road. Upon on-site confirmation by emergency services, Lu was found to have no signs of life. The investigation concluded that it was not a criminal case. However, the statement did not mention the cause of death, emphasizing to avoid spreading rumors.
The cause of Lu Pin’s death sparked discussions online. “What does ‘not a criminal case’ mean? Why not disclose the basic cause of death? Just say ‘lost consciousness’ in a few simple words?” “Rumors say it was a throat cut.”
A source claiming to be a medical personnel disclosed, “In the East 200 meters north of the intersection of Wangjiang West Road and Kongque Tai Road, High-tech Zone, Hefei, Block H2, 5th floor of Zhongan Innovation Valley Phase II. Treating an employee (Lu, male, 46 years old) with a neck cut wound, declared dead at the scene, death notification issued, handed over to the police.”
First Financial contacted Guodun Quantum for the specific reason behind Lu Pin’s passing, but had not received a response as of the time of writing.
Lu Pin’s sudden death led to a sharp decline in the stock market. On December 19th, Guodun Quantum, known as the “first stock of quantum technology” on the Science and Technology Innovation Board, opened with a 1.82% decline, at 485 yuan/share, with a total market value falling below 50 billion yuan.
Public records show that Guodun Quantum was established in 2009, mainly engaged in the research, development, production, and sale of quantum communication, quantum computing, and quantum precision measurement products, as well as providing related technical services. In 2020, the company went public on the Shanghai Stock Exchange’s Science and Technology Innovation Board, becoming the first A-share and currently the only listed quantum technology company.
In March 2024, China Telecom acquired Guodun Quantum through its subsidiary, China Telecom Quantum Group, investing 1.775 billion yuan. On May 30, 2025, Lu Pin assumed the role of Chairman of the fourth Board of Directors of the company.
It is worth noting that Guodun Quantum’s performance has been under pressure in recent years. From 2021 to 2024, the company incurred losses for four consecutive years, with a cumulative net loss of over 270 million yuan. In the first three quarters of 2025, the revenue was approximately 190 million yuan, a year-on-year increase of 90.27%, but the net loss was still around -26.47 million yuan.