Quantum CTek Co in the Hefei National High-tech Industry Development Zone, Anhui prvince plans to list on the new science and technology innovation board. [Photo from WeChat account hefeigaoxinfabu]

The Shanghai Stock Exchange has recently accepted the second batch of applications from eight companies looking to list on its new science and technology innovation board, including tech company Quantum CTek, a first for a company in Anhui province.

Quantum CTek Co focuses on commercialized quantum information technology (QIT) and is one of the world's biggest manufacturers and providers of QIT-enabled ICT security products. It is located in the Hefei National High-tech Industry Development Zone.

The company plans to issue no more than 20 million shares (accounting for 25 percent of the total share capital after the issuance) and to raise 304 million yuan ($45.29 million) for the construction of a quantum communication network and a research and development center.

The new science and technology innovation board has been regarded as a major step in reforming China's capital market, as it will finally test out a long-anticipated registration-based system for IPOs and will ease listing criteria, allowing companies that have yet to make a profit to list.