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olivLaw · US equity research

Quanome Technologies, Inc. QNME

Arrangement of Transportation of Freight & Cargo · SIC 4731 · Vertical: Arrangement of Transportation of Freight & Cargo (SIC 4731)

0.39USD−10.14% · 1 dayClose 04 Nov 2026

Quanome Technologies, Inc. (formerly Lakeside Holding Limited) currently operates mainly as a pharmaceutical distributor in China through Hupan Pharmaceutical, after disposing of its cross-border freight business. The company is moving into quantum technologies and AI compute infrastructure, activities still at an early stage with no revenue reported, so its profile is in transition. Revenue from continuing operations reached 5.85 mil USD in fiscal 2026.

At the close of 04 Nov 2026, Quanome Technologies, Inc. (QNME) stock was 0.39 USD (−10.14% on the day), with market capitalisation 13.4 m USD, beta 0.98, 52-week range 0.26–1.27 USD. Latest reported quarter (Q4 2026): revenue of 742.3 k USD (−63.7% YoY), net income of -6.7 m USD, diluted EPS -0.19 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
13.4 m USD
shares as of 22 Sept 2026
P/E (TTM)
unavailable
Diluted EPS TTM -0.36 · TTM to 30 Jun 2026
E/P (TTM)
-92.31%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
0.98
Volatility (1y) 167%
52-week range
0.261.27

Price history

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Technical reading

RSI (14)
41.7
weak (30–45)
Bollinger (20, 2)
0.27 – 0.74
in the lower half of the band · %B 0.26 · band width 94.2%
SMA 50 / 200
0.48 / 0.58
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.04 / -0.03
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−32.6%−1.1%−31.5 pp—
3 months−23.5%−0.5%−23.1 pp—
6 months−35.0%+4.4%−39.4 pp—
Year to date−56.2%+12.3%−68.5 pp—
1 year−65.5%+13.5%−79.0 pp−40.0%
3 yearsunavailable+76.4%unavailable−70.0%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−79.8%
05 Nov 2025 → 30 Jul 2026
Max drawdown (5y)
−93.7%
02 Jul 2024 → 30 Jul 2026
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q4 2026 · 30 Jun 2026

Revenue
742.3 k USD
−63.7% YoY
Net income
-6.7 m USD
unavailable YoY
Diluted EPS
-0.19
unavailable YoY
net / operating
-900.7% / -915.5%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Revenue4.1 m3.6 m497.3 k2.0 m6.1 m7.0 m1.3 m742.3 k
Cost of revenue3.6 m3.6 m119.2 k971.4 k5.0 m5.1 m348.2 k202.2 k
Gross profit522.5 k-42.2 k378.1 k1.1 m1.1 m1.9 m979.5 k540.1 k
Operating income-1.3 m-2.0 m-329.5 k-3.2 k-1.3 m-1.5 m-1.6 m-6.8 m
Depreciation & amortisation——93.8 k ≈—————
Interest expense28.1 k40.9 k40.5 k114.5 k196.4 k183.4 k26.7 k302
Pre-tax income-1.2 m-1.9 m-358.4 k-175.5 k-1.3 m-1.5 m-1.5 m-6.7 m
Income tax89.6 k0 ≈18.6 k193.7 k36.0 k45.0 k29.6 k-18.9 k
Net income-1.3 m-1.9 m-1.1 m-893.1 k-1.4 m-1.6 m142.4 k-6.7 m
Diluted EPS-0.18-0.26-0.14-0.12 ≈-0.09-0.080.01-0.19 ≈
Operating cash flow-1.4 m-530.2 k ≈-238.3 k ≈-483.7 k-4.0 m-453.5 k ≈——
Capex5.8 k30.3 k ≈-25.2 k ≈9.5 k————
Share repurchases879.6 k-74.2 k ≈-213.2 k ≈213.8 k————

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20232024⚠ 20252026
Revenue12.9 m18.3 m2.8 m5.9 m
Revenue YoYunavailable+42.3%—+111.8%
Net income983.6 k-225.3 k-5.2 m-9.5 m
Net income YoYunavailable−122.9%—unavailable
Diluted EPS0.16-0.04-0.69-0.36
Diluted EPS YoYunavailable−125.0%—unavailable
net %7.6%-1.2%-189.9%-162.1%
Free cash flow21.0 kunavailable-2.7 munavailable

The series breaks before 2025: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2026 · 30 Jun 2026

Cash
670.3 k USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
7.0 m USD
Total assets
11.7 m USD
Debt / equity
unavailable
Current ratio
2.46x
ROE
-192.5%
ROA
-72.8%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2024
18.3 m
2025
2.8 m
2026
5.9 m

SEC (XBRL)· 25 Sept 2026verified

Cost of revenue
2024
14.6 m
2025
1.2 m
2026
2.5 m

SEC (XBRL)· 25 Sept 2026verified

Gross profit
2024
3.7 m
2025
1.6 m
2026
3.3 m

SEC (XBRL)· 25 Sept 2026verified

Operating income
2024
-526.0 k
2025
-1.5 m
2026
-10.2 m

SEC (XBRL)· 25 Sept 2026verified

Interest expense
2024
108.0 k
2025
139.0 k
2026
149.7 k

SEC (XBRL)· 25 Sept 2026verified

Pre-tax income
2024
-295.6 k
2025
-1.7 m
2026
-10.0 m

SEC (XBRL)· 25 Sept 2026verified

Income tax
2024
-67.3 k
2025
212.3 k
2026
91.7 k

SEC (XBRL)· 25 Sept 2026verified

Net income
2024
-225.3 k
2025
-5.2 m
2026
-9.5 m

SEC (XBRL)· 25 Sept 2026verified

Diluted EPS
2024
-0.04
2025
-0.69
2026
-0.36

SEC (XBRL)· 25 Sept 2026verified

Weighted average diluted shares
2024
6.0 m
2025
7.6 m
2026
25.7 m

SEC (XBRL)· 25 Sept 2026verified

Balance sheet · USD

Cash
2024
123.6 k
2025
4.8 m
2026
670.3 k

SEC (XBRL)· 25 Sept 2026verified

Receivables
2024
—
2025
1.4 m
2026
1.1 m

SEC (XBRL)· 25 Sept 2026verified

Inventories
2024
—
2025
96.5 k
2026
196.6 k

SEC (XBRL)· 25 Sept 2026verified

Current assets
2024
3.5 m
2025
10.3 m
2026
11.0 m

SEC (XBRL)· 25 Sept 2026verified

Property, plant & equipment, net
2024
344.9 k
2025
160.6 k
2026
191.1 k

SEC (XBRL)· 25 Sept 2026verified

Intangibles (excl. goodwill)
2024
—
2025
365.4 k
2026
280.0 k

SEC (XBRL)· 25 Sept 2026verified

Total assets
2024
9.2 m
2025
14.4 m
2026
11.7 m

SEC (XBRL)· 25 Sept 2026verified

Accounts payable
2024
—
2025
1.0 m
2026
650.6 k

SEC (XBRL)· 25 Sept 2026verified

Long-term debt
2024
883.3 k
2025
1.4 m
2026
—

SEC (XBRL)· 14 Oct 2025verified

Current liabilities
2024
5.9 m
2025
9.7 m
2026
4.5 m

SEC (XBRL)· 25 Sept 2026verified

Total liabilities
2024
8.6 m
2025
11.6 m
2026
4.6 m

SEC (XBRL)· 25 Sept 2026verified

Equity
2024
639.8 k
2025
2.8 m
2026
7.0 m †

SEC (XBRL)· 25 Sept 2026verified

Cash flow · USD

Operating cash flow
2024
-53.6 k
2025
-2.7 m
2026
—

SEC (XBRL)· 14 Oct 2025verified

Capex
2024
—
2025
20.4 k
2026
2.0 k

SEC (XBRL)· 25 Sept 2026verified

Free cash flow
2024
—
2025
-2.7 m ≈
2026
—

SEC (XBRL)· 14 Oct 2025derived

Investing cash flow
2024
-78.8 k
2025
-688.3 k
2026
—

SEC (XBRL)· 14 Oct 2025verified

Financing cash flow
2024
78.8 k
2025
8.2 m
2026
—

SEC (XBRL)· 14 Oct 2025verified

Share repurchases
2024
—
2025
805.9 k
2026
—

SEC (XBRL)· 25 Sept 2026verified

Computed indicators

Growth

Revenue growth (YoY)
111.8%
computed by olivLawFY 2026
Revenue CAGR 3Y
-23.1%
computed by olivLawFY 2023 → FY 2026
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
56.7%
computed by olivLawFY 2026
EBITDA margin
unavailable
input data missing
EBIT margin
-174.2%
computed by olivLawFY 2026
Net margin
-162.1%
computed by olivLawFY 2026
FCF margin
-88.8%
computed by olivLawFY 2026

Returns

ROE
-192.5%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROA
-72.8%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-142.2%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
-68.1x
computed by olivLawFY 2026

Liquidity

Current ratio
2.5x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
2.4x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-5.2 m USD
computed by olivLawTTM to 31 Dec 2025
Capital expenditure
2.0 k USD
computed by olivLawFY 2026
Free cash flow
-5.2 m USD
computed by olivLawFY 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
79 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
21 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
120 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Cash conversion cycle
-20 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026

Market and valuation

Market capitalisation
13.4 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-92.3%
computed by olivLawFY 2026
P/B
1.9x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
2.3x
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-38.7%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
6.0%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 39.6% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.39 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 13.4 m USD

Key indicators

Market capitalisation
13.4 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
1.9x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-192.5%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Net margin
-162.1%
computed by olivLawFY 2026
Revenue growth (YoY)
111.8%
computed by olivLawFY 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

28/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 22 Sept 2026
Source: SEC (XBRL)published 25 Sept 2026
verified 394derived 32

Score by group

40% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Arrangement of Transportation of Freight & Cargo (SIC 4731)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 39.6% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-162.1%13 (vs peers)16%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth-23.1%0 (on a fixed band)21%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet-68.1x0 (on a fixed band)16%
Current ratio · Balance sheet2.5x100 (on a fixed band)11%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-38.7%0 (on a fixed band)21%
Shareholder yield (distributions) · Returns6.0%86 (on a fixed band)16%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet40/100 · 2/3 factors with a value
  • Growth· partial0/100 · 1/2 factors with a value
  • Quality· partial13/100 · 1/3 factors with a value
  • Returns· partial86/100 · 1/2 factors with a value
  • Valuation· partial0/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Quanome Technologies, Inc. (QNME). Latest full fiscal year: 2026; data up to 2026-06-30.

Figures computed from the financial statements: revenue 5.9 m USD in 2026; YoY growth 111.8%; net margin -162.1%; ROE -192.5%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (score weight coverage: 39.6% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 2.5x
  • Shareholder yield (distributions): 6.0%

What contradicts it

  • Net margin: -162.1%
  • Revenue CAGR 3Y: -23.1%
  • Interest coverage: -68.1x
  • FCF yield: -38.7%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).

Versus the vertical median

Arrangement of Transportation of Freight & Cargo (SIC 4731) · same industry (4-digit SIC) · compared with 16 companies

Multiples and returns vs the median

P/E
—
vertical median 24.3x
EV/EBITDA
—
vertical median —
P/S
2.3x
vertical median 0.8x
above median (+172.1%)
P/B
1.9x
vertical median 0.8x
above median (+150.6%)
ROE
-192.5%
vertical median -22.2%
below median
Net margin
-162.1%
vertical median -6.7%
below median
EBIT margin
-174.2%
vertical median -3.8%
below median
Revenue YoY
111.8%
vertical median -4.4%
above median
Net debt/EBITDA
—
vertical median 1.7x
Dividend yield
—
vertical median 1.9%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
EXPDExpeditors International Of Washington, Inc.25.5 bn25.145.0%7.9%+4.4%+35% / +64%
CHRWC.h. Robinson Worldwide, Inc.15.5 bn24.038.9%3.7%−8.4%−16% / +63%
BCOBrink’s Co4.7 bn29.656.0%2.9%+5.0%+1% / +43%
FWRDForward Air Corporation644.5 m—-1,574.1%-11.4%+0.8%−17% / −70%
RLGTRadiant Logistics, Inc.450.2 m24.68.0%2.0%+3.5%+54% / +60%
NCEWNew Century Logistics (bvi) Limited422.8 m—-185.6%-24.2%−15.5%+311% / unavailable
PSIGPS International Group Ltd.80.1 m—-440.7%-28.6%−39.0%+28% / unavailable
CRGOFreightos Ltd32.8 m—-35.8%-59.5%+23.9%−79% / −79%
VNTGVantage Corp14.3 m—-31.1%-7.4%−4.4%−50% / unavailable
QNMEQuanome Technologies, Inc.13.4 m—-192.5%-162.1%+111.8%−65% / unavailable
SLGBSmart Logistics Global Limited9.5 m—-13.4%-2.9%unavailable−87% / unavailable
ELOGEastern International Ltd.9.2 m—-8.6%-454.0%−24.4%−65% / unavailable
JYDJayud Global Logistics Limited9.0 m—-36.8%-5.9%+8.7%−65% / −99%
SGLYSingularity Future Technology Ltd.2.6 m—-55.6%-347.5%−6.6%−95% / −99%
FRGTFreight Technologies, Inc.1.6 m—-338.3%-60.5%−4.9%−95% / −100%
GVHGlobavend Holdings Limited1.4 m0.69.0%2.9%+42.5%−76% / −100%
HUBGHub Group, Inc.—0.16.3%2.8%−6.1%−30% / −29%

1- and 3-year price returns: for QNME from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Quanome Technologies, Inc. (formerly Lakeside Holding Limited) currently operates mainly as a pharmaceutical distributor in China through Hupan Pharmaceutical, after disposing of its cross-border freight business. The company is moving into quantum technologies and AI compute infrastructure, activities still at an early stage with no revenue reported, so its profile is in transition. Revenue from continuing operations reached 5.85 mil USD in fiscal 2026 1.

    SWOT

    Strengths

    • The company has an existing pharmaceutical distribution business with revenue and relationships with hospitals and distributors 1.
    • The product portfolio includes different categories with varying profitability, which allows the sales mix to be adjusted 1.
    • The company raised funds through its IPO and convertible debt, which supported its expansion 1.

    Weaknesses

    • Net losses have grown considerably and operating expenses far exceed revenue 1.
    • Dependence on a small number of large customers can weigh on revenue stability 1.
    • The new activities have no operating history and have not yet generated revenue 1.

    Opportunities

    • If the AI and quantum initiatives secure contracts, they could diversify revenue beyond pharmaceutical distribution 1.
    • Growing demand for innovative drugs and healthcare services could open new distribution segments 1.
    • Partnerships with laboratories and research teams could speed up development in advanced technologies 1.

    Threats

    • Chinese regulation can change operations and the value of the shares, and the source warns these risks can be significant 1.
    • Competitive pressure and centralized tendering can reduce margins in pharmaceutical distribution 1.
    • Export control, sanctions and data protection requirements could limit AI services for certain customers 1.

    Risks

    • Regulatory risk in Chinahigh

      Chinese authorities have influence over operations and access to capital markets, and changes in policy could affect the value of the shares 1.

    • Dependence on suppliers and manufacturersmedium

      The company relies on third parties for products and logistics, and supply interruptions could affect revenue 1.

    • Customer concentrationmedium

      A few large customers account for a significant share of sales, and losing them could affect results 1.

    • Risk of new activitieshigh

      The AI and quantum initiatives are at an early stage, their success is not assured, and they may consume significant resources 1.

    • Listing riskmedium

      US rules on audits of companies with operations in China could lead to trading restrictions if the required inspections cannot be carried out 1.

    Investment thesis

    What would need to be true (bull case)

    • If the AI and quantum initiatives turn into contracts, the company could diversify beyond pharmaceutical distribution.
    • Distribution revenue grew in fiscal 2026, showing the existing segment has traction in the Chinese market.
    • The purchase of servers for AI compute indicates a concrete step toward a new business model, even though results remain uncertain.

    What would break the thesis

    • The net loss grew and operating expenses exceed revenue, which could put pressure on liquidity.
    • The new activities have no contracted customers or revenue, and their outcome remains uncertain.
    • Regulatory risks in China can affect operations and the value of the shares in ways that are hard to anticipate.

    What to watch

    • Signing of the first contracts for AI compute servicesnext 10-K
    • Trend in net loss and operating expensesQ1 2027
    • Whether quantum technology partnerships materialize2027
    • Trend in customer concentration in pharmaceutical distributionnext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    The company's core business is pharmaceutical distribution in China through its operating subsidiary Hupan Pharmaceutical, which sells infusion products, foods for special medical purposes and specialty pharmaceuticals to hospitals, distributors and other healthcare providers 1. It does not manufacture the products it distributes, but sources them from several manufacturers and uses logistics and warehousing providers for delivery. Sales are mainly made through agents, and revenue from continuing operations rose to 5.85 mil USD in fiscal 2026 1. In February 2026 the company transferred the operations of ABL Chicago, a cross-border freight business, to an unrelated third party, changing the shape of its portfolio 1. From August 2026 the company trades on Nasdaq Capital Market under its new name and the ticker QNME 1.

    The company describes three areas of focus: pharmaceutical distribution, which generates revenue, quantum-related initiatives through its subsidiary Quantum Nexus, which have not yet generated revenue, and AI compute capacity and managed inference services through XDT Infrastructure I, LLC, which have no executed customer contracts yet 1. For the latter, the company has agreed to purchase 32 servers designed for high-performance AI computing 1. These initiatives are described as early-stage, so their effect on future results remains uncertain.

    Segments

    Pharmaceutical distribution (Hupan Pharmaceutical)

    This is the only segment currently generating revenue. Products include infusion products, foods for special medical purposes and specialty drugs, and customers are hospitals and distributors, mainly reached through a network of agents 1. Public procurement and tenders influence sales volumes and margins 1.

    Quantum technologies (Quantum Nexus)

    This segment is in the evaluation and development stage and had not generated revenue as of the report date 1. The company is exploring applications in therapeutic discovery, healthcare, advanced materials, energy and cybersecurity, without a definitive partnership agreement yet 1.

    AI compute and managed inference (XDT Infrastructure)

    Activities began in September 2026 and aim to rent AI compute capacity as a service 1. The company operates its own infrastructure but has no contracted customers or reported revenue yet 1.

    Market context

    The company operates in China's pharmaceutical distribution market, where competition is intense among national and regional distributors, wholesalers and specialized logistics providers 1. The market is heavily regulated, and pricing, centralized procurement and healthcare reforms can change margins 1. In fiscal 2026 the company generated revenue from 63 customers, four of which each accounted for more than 10% of revenue 1.

    The markets for AI compute and quantum technologies are described in the source as still developing, with demand and competition not yet clear for a company that is entering them now 1. The company has no contracted customers in these areas and cannot yet estimate the size of the addressable market 1.

    Trends

    • Healthcare reforms in Chinamixed

      Centralized procurement and price controls can reduce distributors' margins, but they can also open access to large contracts if the company qualifies 1.

    • Ageing population and demand for innovative drugstailwind

      The company identifies growing demand for complex and biologic treatments in the source as an opportunity to expand distribution 1.

    • Price pressure and competitionheadwind

      Price competition and participation in tenders can compress margins, and the source links this risk directly to the product mix 1.

    • Interest in quantum and AI technologiesmixed

      The focus on quantum computing and AI could attract investors and partners, but the company has no results in these areas yet 1.

    Competitive position

    In pharmaceutical distribution the company competes with national and regional distributors, wholesalers and specialized logistics providers, some of which have greater financial resources, wider networks and stronger supplier relationships 1. Competition turns on product availability, pricing, hospital access, tendering capability and service quality 1.

    In AI compute and quantum technologies the source does not name specific competitors, but the company acknowledges it is building its team and infrastructure in a market that is still forming 1.

    • National and regional pharmaceutical distributors in China

      Direct competitors in pharmaceutical distribution, with wider networks and greater purchasing power, according to the source 1.

    • Wholesalers and specialized distributors

      Compete for tenders and for access to hospitals and other medical institutions, as the company describes it 1.

    • Specialized pharmaceutical logistics providers

      Compete on delivery, warehousing and management of the pharmaceutical supply chain 1.

    • AI infrastructure and inference service providers

      The source does not name specific competitors for the AI activity, but this is a market with many participants, where the company has no contracts yet 1.

    News & filings

    In the press

    No news in our archive over the last 180 days.

    SEC filings

    • Current report29 Oct 2026
      Regulation FD disclosure · Financial statements and exhibits
    • Current report21 Oct 2026
      Material agreement · Financial statements and exhibits
    • Current report09 Oct 2026
      Regulation FD disclosure · Financial statements and exhibits
    • Current report05 Oct 2026
      Material agreement
    • Current report01 Oct 2026
      Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
    • Annual report25 Sept 2026
    • Regulation FD disclosure · Financial statements and exhibits
    • Current report23 Sept 2026
      Regulation FD disclosure · Financial statements and exhibits
    • Current report21 Sept 2026
      Departure or appointment of officers
    • Current report21 Sept 2026
      Material agreement

    Sources

    1. [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Quanome Technologies, Inc. · 25 Sept 2026
    2. [2] Form 8-K, results release (exhibit 99.1) · SEC / Quanome Technologies, Inc. · 15 May 2025

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.