On 18th August, 2017, Nanjing Nari QuantumCTek Co., Ltd. held its first shareholders' meeting and the first session of its first board meeting, in Nanjing. This meeting elected the first board of directors and the members of supervisory board, and appointed the top management, which wraps up the preparatory work of the joint venture and marks its formal establishment.

Nanjing Nari QuantumCTek Co., Ltd. ("Nari QuantumCTek" for short) is a joint venture formed by QuantumCTek Co., Ltd. ("QuantumCTek" for short) and Nanjing Nari Information Communication Technology Co., Ltd. ("Nari" for short), a subsidiary of Nari Group Corporation (State Grid Electric Power Research Institute). It is committed to promoting the further application and commercialization of quantum cryptography communication technology in the electric power industry.

QuantumCTek is China industry-leading innovative enterprise engaging in the industrialization of quantum information technology, and Nari Group is the largest supplier of electric power equipment and services in China. Based on each other's core competitiveness and the demand for communication security in power industry, the two parties signed a strategic cooperation agreement in May 2016. Since then, they have conducted in-depth cooperation and developed a series of innovative products.

In August, 2016, QuantumCTek and Nari Group successfully developed the VPN gateway based on a quantum scheme for authentication, which is designed for power industry; in September 2016, the two companies completed the demonstration network program of quantum communication and cryptography to secure power supply for the G20 Summit in Hangzhou; in April 2017, they released the world's first integrated quantum cryptography equipment designated for electric power—NetKeeper-2000Q; meanwhile, they jointly set up a quantum cryptography communication laboratory, which enhanced their influences in the industry. At present, the series of quantum products for electric power developed by the two companies have been used in the quantum demonstration projects of State Grid in places such as Anhui and Jiangsu provinces, to ensure the security of communications in power systems.

As a new outcome of the cooperation between the two parties, the Nari QuantumCTek will give full play to the two companies' strengths. They will cooperate with each other in R&D and jointly popularize their products. The joint venture aims to master core technologies and develop products with independent intellectual property. It will provide a platform of quantum cryptography communication not only for power industry, but also for other industries like energy, and it will carry out the R&D, production and sale of series of quantum cryptography communication products, as well as the integration and provision of the software and hardware of quantum cryptography communication system, so as to push forward the construction of security system for quantum communications in power industry.