面对患者的复杂病情，青大附院骨科医院副院长、关节外科主任张海宁在以往智能化关节手术技术经验的基础上，带领团队成员通过医 工合作，利用患者髋关节CT数据建立数字化模型，设计了特殊的三翼假体，并规划了假体的理想位置和所需固定螺钉的长度及方向。通 过3D打印技术，张海宁提前制造出患者的骨盆模型和三翼假体模型，在体外进行模拟手术，根据模拟手术规划出需要改进的细节，在反 复利用3D ACT软件修正改进细节后，再次打印骨盆和假体模型并验证，在确认无误后，利用金属3D打印技术，打印出真正的三翼假 体，并在其表面打印出有利于骨长入的粗糙化金属骨小梁表面。 齐鲁晚报.齐鲁壹点李自强通讯员张鲲鹏 近日，青大附院骨科医院副院长、关节外科主任张海宁带领团队，成功完成山东省首例可视化智能导航系统(Visual Treatment Solution， VTS)辅助下复杂全髋关节翻修术。 3D打印个性化模型进行体外模拟手术。 今年54岁的王女士已经历了数次髋关节置换及翻修手术，原有钛网及骨水泥臼杯翻修假体均严重松动，造成了巨大的髋臼骨溶解与缺 损，且髂骨、耻骨、坐骨和臼底均有大面积骨缺损，臼底伴有骨盆不连续，修复重建困难。 "量身打造"的 ...

而在营收持续增长的背后，创想三维也面临着净利润增速放缓、对特定在线渠道的依赖，以及行业竞争 加剧等多重考验。这些挑战，对这家正处于高速发展期的企业提出了新的要求，即如何在巩固市场地位 的同时，找到新的盈利增长点，并构建更加稳固的商业护城河。 值得注意的是，2023年12月底，创想三维曾谋求A股上市。但在今年8月，创想三维终止了A股IPO辅 导，选择转向港交所。谋求赴港上市，创想三维仍需回答如何平衡营收增长与盈利，并构建更稳固的商 业生态，这成为其上市后亟待解答的关键命题。南都湾财社记者也就上市进程中所面临的困难和挑战向 创想三维发函采访，截至发稿，暂未收到回复。 从深圳走出的全球消费级3D打印龙头 创想三维成立于2014年，是中国率先进入3D打印行业的研发制造商，属于国家级专精特新"小巨人"企 业和国家高新技术企业。短短十余年间，公司从深圳的一家新兴硬件创业公司，成长为全球消费级3D 打印的龙头。在2025年7月被认定为新晋独角兽，估值达10亿美元。根据灼识咨询的数据，按2020年至 2024年消费级3D打印机累计出货量计，创想三维以27.9%的市场份额位居全球第一。 创想三维产品线覆盖3D打印机、3D扫描仪 ...

3D 打印液冷专家交流 20250819 摘要 英伟达等公司自 2024 年起采用 OCP ORV3 单向冷板式液冷方案，因其 具备产业链支持和大规模交付能力，已成为智算领域主流，而散热不均 衡问题的浸没式液冷方案逐渐被取代。 3D 打印技术适用于液冷系统中的微通道和异形结构制造，能实现传统 CNC 加工难以完成的复杂几何形状，降低热阻和流阻，提高散热效率， 单板可实现 150 升/分钟的水流量，温度控制在 4 千瓦以内。 3D 打印液冷板技术壁垒高，涉及光源控制、工艺方式和加工中心设备定 向开发。掌握高频绿光激光头、薄铜箔堆锻技术和专用设备的企业具有 显著先发优势。 中国供应链在制冷领域优势在于材料、工艺和规模化生产能力。成功企 业专注于某一环节，具备大规模产能。寻找标的时，应关注具备这三项 能力的企业。 液冷板企业盈利水平与规模密切相关，新工艺和材料能否实现规模化生 产是关键。在智算领域，液冷系统价值量虽小，但对提升核心 IP 性能稳 定性至关重要。 业内更多关注如何挖掘单向冷板潜力，通过降低热阻和减少流阻来提升性能。 例如，通过降低入水温度至 25 度以提高散热效果。因此，可以预见单向冷板 技术仍有很长 ...

Group 1 - The core viewpoint of the news highlights the significant rise of the Science and Technology Innovation and Entrepreneurship ETF (588360) by over 2.3%, driven by advancements in innovative pharmaceuticals and AI infrastructure [1] - The State Council's executive meeting approved the "Artificial Intelligence +" action plan, emphasizing the advantages of China's industrial system, market, and application scenarios to promote the large-scale commercialization of AI [1] - The AI infrastructure supply chain is expected to benefit first, with developments in humanoid robots and partnerships between companies like Lingyi Zhizao and Qiangnao Technology focusing on dexterous hand hardware [1] Group 2 - The Guangdong-Hong Kong-Macao Greater Bay Area has launched its first intercity drone logistics route, with Shenzhen planning to establish a global low-altitude economy center by 2026, including 1,200 takeoff and landing points and 1,000 commercial routes [1] - The application of 3D printing technology in aerospace and other fields is gradually expanding, with the intelligent welding robot market having a potential value of nearly 100 billion [1] - The Science and Technology Innovation and Entrepreneurship ETF (588360) tracks the Science and Technology Innovation 50 Index (931643), which selects 50 large-cap, liquid technology innovation companies from the Sci-Tech Board and the ChiNext, covering cutting-edge fields such as information technology and healthcare [1]

Core Viewpoint - Zirconia ceramics play a crucial role in advanced ceramics and are essential materials in modern high-tech industries. The market for zirconia ceramics in China is projected to reach 4.32 billion yuan in 2024, reflecting a year-on-year increase of 6.2% [1][14]. Industry Overview - Zirconia ceramics are high-performance materials based on zirconium oxide (ZrO2), known for their toughness, bending strength, and wear resistance. They are widely used in aerospace, automotive manufacturing, electronic information, and biomedical fields [3][8]. - The production process of zirconia ceramics involves several steps, including forming, debinding, and sintering, with various methods employed for each stage [5][6]. Industry Chain - The upstream of the zirconia ceramics industry involves the preparation and purification of raw materials, primarily zirconia powder, which is essential for high-quality ceramic production. The downstream includes various applications in sectors such as aerospace, automotive, electronics, and biomedical [8][10]. Market Dynamics - The market for zirconia ceramics is expanding due to continuous development in application fields. The demand for zirconia ceramics is expected to grow, particularly in the dental industry, where the market for dentures is projected to increase from 10.099 billion yuan in 2021 to 15.981 billion yuan by 2028 [12][14]. Competitive Landscape - Leading companies in the zirconia ceramics market include Guocera Materials, Dongfang Zirconium, and Sanxiang New Materials, which dominate the market due to their production scale, technological advantages, and brand influence [16]. Development Trends - The industry is witnessing ongoing technological innovations, including the development of nanomaterials and new sintering techniques, which enhance material performance and reduce production costs. The application of 3D printing technology is also becoming more prevalent [21][22]. - There is a growing emphasis on green and sustainable development within the zirconia ceramics industry, focusing on reducing emissions, optimizing production processes, and recycling resources [23][24].

Investment Rating - The report does not explicitly provide an investment rating for the 3D food printer industry Core Insights - The 3D food printing technology is driving the food industry towards digitalization and smart transformation, unlocking innovative potential within the industry [6][8] - The global 3D food printing market is expected to grow significantly, with a projected CAGR of 52.4% from 2020 to 2024 and 26.8% from 2025 to 2029, reaching approximately 11.1 billion USD by 2029 [24][25] - The expansion of the 3D food printing market is attributed to technological breakthroughs, upgraded consumer demands, and diversified industry applications [25] Summary by Sections 3D Food Printing Definition and Classification - 3D food printing is defined as an innovative technology that constructs three-dimensional food items based on digital models by layer-by-layer accumulation of edible materials [8] - The technology has evolved from mechanical manufacturing to various fields, including aerospace, healthcare, and food processing, particularly in personalized food manufacturing [8][10] 3D Food Printing Applications and Materials - The materials used in 3D food printing include lipid-based, carbohydrate-based, protein-based, and hydrogel materials, with research on their rheological properties being crucial for overcoming industrialization bottlenecks [11][15] - Different types of 3D food printing technologies, such as extrusion, sintering, inkjet, and powder binding, each have their advantages and limitations in terms of material selection and application [9][10] Consumer Preferences for 3D Printed Food - Consumer awareness of food safety risks significantly influences their food consumption choices, with 67% of consumers holding neutral or friendly attitudes towards 3D printed food [20] - The demand for personalized and health-oriented food options is a core driver for the adoption of 3D food printing technology [25] Market Size and Growth - The 3D food printing market is projected to enter a phase of large-scale production and ecological restructuring, driven by AI optimization and the need for sustainable food systems [25][26] - The technology's ability to customize nutrition and efficiently utilize resources positions it as a key support for sustainable food systems, especially as the global population is expected to exceed 9.7 billion by 2050 [25] Market Participants - Key players in the 3D food printing industry include companies like Natural Machines, which launched the first consumer-grade 3D food printer, and Redefine Meat, which produces plant-based meat alternatives using 3D printing technology [27][28] - The industry is characterized by a diverse range of business models, including B2B solutions for restaurants, retail sales of 3D printers, and personalized food delivery services [29][31]

从技术储备来看，该公司在固态电池、燃料电池和混动技术方面具有全球领先 优势，但在传统液态锂电池领域表现一般。因此，他们希望通过展示其优势技 术并利用专利布局来收取专利费，同时通过中国供应链降低成本，实现大规模 应用。此外，从财报分析来看，2024 年该公司利润约为 2,400 多亿人民币， 中国市场占比约 19%。尽管比例不大，但中国市场未来增长潜力巨大，因此他 3D 打印技术应用：丰田使用 3D 打印技术制造 200 纳米以下电解质层， 降低界面阻抗至传统固相法的 1/5，但大规模量产仍面临成本、效率和 一致性挑战。 负极材料选择：丰田倾向于硫化物固态电解质与锂金属负极结合，但因 织晶问题，目前采用硅碳负极，通过调整硅比例优化性能。硫化物负极 集流体解决方案包括铜镀镍（成熟但有腐蚀）和镍铁（耐腐蚀但导电性 差）。 海外固态电池专家会 20250805 摘要 丰田战略调整：日本总部侧重核心技术，中国专注应用市场需求，旨在 利用优势技术收取专利费，并通过中国供应链降低成本，扩大市场份额。 2024 年利润 2,400 亿人民币，中国市场占比 19%，增长潜力巨大。 固态电池产业化：丰田计划 2026 年小规模试 ...

Core Viewpoint - The upcoming full closure operation of Hainan by the end of 2025 is expected to significantly boost the high-quality development of the gold and jewelry industry through the implementation of free trade port policies, characterized by "zero tariffs, low tax rates, and simplified tax systems" [1] Group 1: Policy Advantages - Hainan's free trade port provides key policy support for the gold and jewelry industry, notably the processing value-added tax exemption policy, which allows companies to process imported raw materials and enjoy tax exemptions if the value added exceeds 30% [2] - In the first half of 2025, Hainan enterprises utilized this policy to achieve a new value of 3.16 billion yuan, resulting in a tax reduction of 233 million yuan [2] - Tax incentives are also significant, with Hainan offering a 15% corporate income tax rate for eligible enterprises in the "gem processing and jewelry setting manufacturing" category, lower than the mainland's 25% [2] Group 2: Market Opportunities - The duty-free shopping policy for departing travelers provides a substantial market for high-value jewelry, with each traveler allowed a duty-free shopping limit of 100,000 yuan annually [3] - Hainan is projected to attract over 40 million tourists by 2025, particularly with Sanya's development as a "global gold and jewelry consumption center," supporting jewelry consumption [3] - The establishment of industrial clusters, such as the Sanya Gold and Jewelry Industrial Park, aims to integrate various stages of the industry, enhancing the ecosystem for development [3] Group 3: Company Strategies - Major companies like China Gold Group are actively engaging with Hainan's policies, planning to establish a regional operational headquarters and a cross-border capital operation center to leverage the duty-free policies for global sales [6] - Zijin Mining Group's subsidiary has successfully utilized the processing value-added tax exemption policy, establishing a zero-tariff channel for sapphire processing, aiming to create the largest gold and jewelry distribution center in Hainan [8] - Lao Feng Xiang has launched a "Gold and Jewelry Fashion Creative Center" in Haikou, achieving sales of over 110 million yuan in 2023, and plans to host an international jewelry design competition in 2025 [8] Group 4: Future Development - After the full closure operation, the gold and jewelry industry is expected to see enhanced internationalization, with more international auction houses and top designers likely to establish a presence in Hainan [11] - The jewelry market in Hainan is projected to grow from approximately 8 billion yuan in 2023 to over 20 billion yuan by 2026, positioning Hainan as a key high-end jewelry consumption destination in the Asia-Pacific region [11] - Technological innovations such as 3D printing and blockchain are anticipated to integrate deeply into the industry, enhancing product customization and consumer trust [11]

Group 1: Desktop 3D Printing Market - The global desktop 3D printing market is projected to grow from $5.9 billion in 2024 to $20.9 billion by 2030, with a CAGR of 23% [14][11]. - In 2023, China's desktop 3D printing market size was $300 million, accounting for approximately 6% of the global market, with key applications in dental/healthcare (24%), jewelry (21%), and food (19%) [14][12]. - The desktop 3D printing technology is categorized into FDM and SLA, with FDM being more cost-effective but less precise compared to SLA [14][13]. Group 2: Competitive Landscape - Bambu Lab is a leading player in the desktop 3D printing market, achieving revenues of 2.7 billion yuan in 2023, with a projected revenue of 5.5 billion yuan in 2024 [28]. - Creality, established in 2014, has sold over 5.5 million 3D printers globally, maintaining a market share of approximately 39% in the entry-level segment [29]. - Voxelab, founded in 2015, has launched over 20 products and achieved annual revenues exceeding 1 billion yuan, focusing on cost-effective solutions [35]. Group 3: Laser Engraving Market - The global laser engraving market is expected to reach $4.4457 billion in 2024, with a CAGR of 8.7% from 2025 to 2030 [47]. - The desktop laser engraving machine market is growing rapidly, with a 23% increase in sales from 2022 to 2023, reaching 370,000 units sold [47][48]. - Major players in the laser engraving market include xTool, Ortur, and Atomstack, with xTool holding a significant market share [50][54]. Group 4: Key Companies and Financials - Bambu Lab's community forum has over 100,000 members, enhancing user engagement and product adoption [28]. - xTool's revenue exceeded 1 billion yuan in 2023, with projections of 2 to 3 billion yuan in 2024, aiming for over 5 billion yuan by 2025 [54]. - The laser control system supplier, Jin Chengzi, is expected to generate revenue of 212 million yuan in 2024, with a net profit margin of 13.9% [65].

Summary of 3D Printing Industry Conference Call Industry Overview - The consumer-grade 3D printing market has seen significant hardware upgrades, with printing speeds increased to 500-600 mm/s and prices dropping below $1,500, lowering the barrier for consumers and promoting market expansion [1][3] - The global consumer-grade 3D printing market is valued between $4 billion and $5 billion, with China holding a significant export share. In Q1 2024, China's export growth rate exceeded 47%, and the market has maintained an annual growth rate of over 30% since 2019 [1][3] - China dominates the global consumer-grade 3D printing market, exporting 90% of desktop products, with North America and Europe being the primary demand markets, accounting for 30%-40% and 20% of global demand, respectively [1][4] Key Market Drivers - The strong performance of the consumer-grade 3D printing market is attributed to technological maturity, price reductions, and supply chain optimization. Hardware advancements, such as those by Tuozhu Company, have significantly improved printing speed and quality [3] - The main consumer demographics include hobbyists, educational institutions, creative designers, and home users, with demand concentrated in education, DIY, and collectible toy sectors. In the domestic market, ToB (business-to-business) demand is predominant [1][6][8] Challenges and Opportunities - Technical limitations and pricing are barriers to market penetration. Further improvements in printing speed and success rates are needed, along with price reductions to around $500 to attract more household consumers [1][8] - The introduction of brushless motors, sensors, and high-performance chips by Tuozhu has created technological barriers and improved printing capabilities [1][11] Cost Structure and Profitability - Core components of 3D printers (motherboard, sensors, chips) account for about one-third of total costs, with motors and controls making up 10%-20%, and print heads and heated beds around 20% [2][17] - The profit margin for complete machines is generally over 20%, while consumables have a higher profit margin, also exceeding 20% [21] Future Market Trends - The industry is currently characterized by a "one strong, many strong" dynamic, with Tuozhu being a dominant player. As upstream prices decrease, new entrants like Anker and others are beginning to enter the market [22] - The potential for the consumer-grade market to reach a trillion-dollar scale in five years exists, but significant challenges remain, including consumer demand and the need for compatible products [24][25] Technological Developments - The core technology in 3D printing involves a combination of hardware and software, with FDM and photopolymerization being the primary methods. Future improvements are needed in material safety and efficiency [10] - The development of eco-friendly and durable materials is crucial for market expansion, as current materials often pose environmental challenges [9][10] Supply Chain and Competition - The supply chain for 3D printers is not fully mature, with challenges in producing high-volume printers and reliance on imported components for critical parts [11][28] - The competitive landscape emphasizes the importance of hardware stability, print area, and precision, with companies needing to build ecosystems to create barriers to entry [29][30] Conclusion - The consumer-grade 3D printing market is poised for growth, driven by technological advancements and increasing accessibility. However, overcoming existing challenges related to pricing, material safety, and supply chain maturity will be essential for sustained expansion and market penetration [1][24][25]