Farsoon(SH:688433) Zheng Quan Ri Bao·2025-04-17 16:42Core Viewpoint - The 3D printing industry in China has transformed from relying on key components to establishing a comprehensive self-innovation system covering "equipment—software—materials—process—application," with the market size projected to grow from 15.8 billion yuan in 2019 to 41.5 billion yuan by 2024, showcasing significant development in China's manufacturing capabilities [1]. Group 1: Company Overview - Hunan Huashu High-Tech Co., Ltd. (Huashu High-Tech) is a leading enterprise in China's industrial-grade 3D printing sector, driving the rise of domestic additive manufacturing through self-innovation [1]. - The company has developed a collaborative innovation system encompassing "materials—equipment—process," providing localized solutions for key industrial sectors such as aerospace while fostering synergy with the civilian industrial chain [1]. Group 2: Application Expansion - Huashu High-Tech is expanding its application fields from aerospace and automotive to medical and mold markets, demonstrating a deep understanding of diverse customer needs through years of 3D printing technology development [3]. - The company has showcased various applications, including customized running shoes, biocompatible implants, and special effects props for films, indicating the penetration of 3D printing technology into consumer electronics, sports health, and cultural creativity [2][3]. Group 3: Technological Innovation - In 2024, Huashu High-Tech's research and development (R&D) expenses reached 98.89 million yuan, accounting for over 20% of its revenue, with R&D personnel making up 33% of the total workforce [3]. - The company has accumulated 425 patents, including 175 invention patents and 188 utility model patents, along with 48 software copyrights and 46 trademarks, reflecting its strong commitment to innovation [3]. Group 4: Industry Standards and Technology - Huashu High-Tech has established a comprehensive self-technical system covering selective laser melting (SLM) and selective laser sintering (SLS) technologies, leading to the development of 15 national standards and 6 industry standards for additive manufacturing [4]. - The company has developed advanced scanning control technology that integrates mirror motion control with laser power control, overcoming long-standing import restrictions and enhancing process development [4]. Group 5: Market Position and Future Outlook - The company is actively pursuing both industrial and consumer-grade additive manufacturing solutions in the low-altitude economy sector, while also expanding its market presence internationally, exporting products to over 30 countries [5]. - According to the Wohlers Report 2025, the global 3D printing market is expected to reach between 84 billion and 145 billion USD by 2030, indicating significant growth potential for Huashu High-Tech as it unlocks the "civilian password" in the Chinese market and aims for global expansion [6].