华泰紫金中证1000指数增强发起A（018062）成立日期2023年6月8日，最新规模1555.21万。今年以来收 益12.04%，同类排名1195/5549；近一年收益52.25%，同类排名1369/4285；成立以来收益53.88%。 华泰紫金中证1000指数增强发起A（018062）基金经理为毛甜。 截至发稿，毛甜累计任职时间8年50天，现任基金资产总规模5.34亿元，任职期间最佳基金回报 137.86%， 任职期间最差基金回报-34.21%。 1月28日，铂力特跌5.01%，截至发稿，报112.56元/股，成交8.68亿元，换手率2.73%，总市值308.78亿 元。 资料显示，西安铂力特增材技术股份有限公司位于陕西省西安市高新区上林苑七路1000号，成立日期 2011年7月6日，上市日期2019年7月22日，公司主营业务涉及提供金属增材制造(3D打印)与再制造技术 全套解决方案。主营业务收入构成为：3D打印定制化产品及技术服务63.33%，3D打印设备、配件及技 术服务27.89%，3D打印原材料8.78%。 从基金十大重仓股角度 数据显示，华泰资管旗下1只基金重仓铂力特。华泰紫金中证1000指数增 ...

Core Viewpoint - The company is optimistic about its 3D printing business, which is expected to become a new core performance driver with significant advantages [1] Group 1: 3D Printing Business Development - The company's 3D printing business is progressing well and is anticipated to be a key performance engine [1] - The EZprint-P1 printer boasts a high-speed printing advantage, capable of completing a half-arch bridge in 20 minutes, significantly enhancing production efficiency in the industry [1] - The printing materials have a solid content of 53% and have received FDA certification, with domestic and EU certifications expected to follow soon [1] Group 2: Market Potential and Applications - The company believes that the oral 3D printing market has vast development and growth potential, with continuous improvement in technology maturity [1] - Application scenarios are expanding into multiple fields such as implants and orthodontics, with relevant clinical solutions already validated in the market [1] - The company plans to leverage its full-chain layout advantages in materials, equipment, and solutions to continue deepening its 3D printing business [1]

广货行天下，当前广东制造正以多元优势走向全球。普渡机器人拿下2026年全国出口"第一 单"，其智能服务机器人从深圳口岸出发远销东盟、欧盟；雷鸟创新带着全球首款支持eSIM功 能的双目全彩AR眼镜，勇闯CES展会；以创想三维、拓竹科技为代表的企业则依托供应链与 技术优势，占据全球九成入门级3D打印市场。 数据进一步印证了这一趋势：1月26日举行的广东省十四届人大五次会议上，广东省政府工作 报告透露， 2025年进出口总额突破9万亿元 。同时，广东提出全省2026年全年进出口总额增 长3%左右的目标，明确推动货物贸易持续稳定发展、推动服务贸易抢抓机遇加快发展等，当 好国家高水平对外开放门户枢纽。 具体而言， 2025年广东外贸进出口同比增长4.4%，规模连续40年居全国首位，对全国外贸增 长贡献率达24.1%，居全国第一。 在此基础上，多个广东外贸企业受访时表达了对2026年出 口形势的信心。中国人民大学重阳金融研究院研究员刘英向南方财经记者分析，从广东的部署 看，2026年广东外贸将聚焦"稳规模、优结构、提质量"，依托粤港澳大湾区开放枢纽作用推动 高质量、高技术、高附加值产品出口，加快从出口导向转向全球资源配置 ...

格隆汇1月26日丨银禧科技(300221.SZ)在互动平台表示，公司目前未有在外太空微重力环境下或者在学 术表面真空环境下进行3D打印实验。 ...

世界第一、高门槛、高天花板，新一代的中国硬件创业。 文 丨 贺乾明 黄俊杰 制图 丨 黄帧昕 编辑 丨 黄俊杰 一群参与打造世界第一产品的 工程师决定离职创业 ，纠结快一年，选了个最初 5 分钟被自己毙掉的冷 门项目；产品发售第三年，公司年营收已经超过 100 亿。这是 3D 打印机行业如今的第一名，拓竹的创 业故事。 "我知道戏剧性的过程可能会更有故事性，但实际上不是那么戏剧性。" 拓竹创始人、CEO 陶冶笑着 说。这可能并不是谦虚。 拓竹是一群工程师精确计算、精确执行的结果。 "发展完全按照他们的规划，甚至产品发售头两年的收入和市场占有率误差非常小。"IDG 资本合伙人邵 辉回看拓竹创业初的投资文件后对我们说。IDG 是唯一投资拓竹三轮的机构，唯一的遗憾是公司盈利太 快，第二轮以后就不需要融资了。 在拓竹出现之前很多年，消费级 3D 打印机已经不再是个性感的东西，全球市场总规模不过五六十亿 元。主要因为难用——用户花在调试机器上的时间超过了打印本身，还经常失败。 拓竹第一个把 3D 打印机变成了有基础 AI 能力的小机器人，加装了摄像头、激光雷达、重力感应等传 感器，把原本需要人工干预的诸多环节完全自动化 ...

Summary of 3D Printing and Commercial Aerospace Applications Industry Overview - 3D printing technology is characterized by high material utilization, especially in small batch complex scenarios, but still faces limitations in processing precision and large-scale production capabilities, indicating it is in an early development stage [1][3] - Mainstream 3D printing technologies include Selective Laser Melting (SOM) and Directed Energy Deposition (DED), with SOM suitable for high-precision small parts and DED for larger products, widely applied in the commercial aerospace sector [1][5] Key Market Insights - The 3D printing materials market is composed of 60% non-metal and 40% metal materials, with titanium alloys being the primary metal (20%) and nylon and ABS as common non-metal materials [1][6] - The largest downstream application for 3D printing is aerospace (17%), followed by dental and medical (16%) and automotive (15%), with industrial applications still dominating but consumer-grade sectors growing rapidly [1][7] Market Size and Growth - The domestic 3D printing market is projected to reach approximately 36.7 billion RMB by 2024, with a significant portion (around 50%) attributed to equipment [1][9] - The global installed capacity is highest in the US (33%), while China accounts for only about 10% [2][9] Competitive Landscape - Major companies in the 3D printing equipment market include EOS, GE, and domestic players like PlasTech and Huashu Gaoke, with market shares of 6.6% and 5% respectively [2][9] - Domestic companies such as South Arrow Aerospace and Oriental Space are beginning to adopt 3D printing technology, but penetration rates remain low (30%-60%) [4][12] Technological Advancements - Commercial aerospace significantly drives the 3D printing industry due to its complex and customized demands, which promote the development of additive manufacturing technologies [4][10] - 3D printing in aerospace applications, such as rocket engines, shows a penetration rate of over 70% in SpaceX's Falcon series, indicating substantial potential for growth in domestic companies [11][12] Future Trends - The potential adoption of DED technology for larger structural components in commercial aerospace is anticipated, which could provide new growth opportunities for companies like PlasTech [14] - The outlook for core component suppliers in the commercial aerospace sector is positive, with domestic companies gradually entering the market and expected to play significant roles as demand grows [15]

Investment Rating - The report assigns a "Buy" rating to the company with a target price of 116.06 RMB based on a 40x PS valuation for 2026 [3]. Core Insights - The company is positioned as a global leader in 3D printing, with a comprehensive ecosystem that includes equipment, materials, proprietary software, and after-sales services [8][10]. - The company is expected to experience significant revenue growth, with projected revenues of 6.91 billion RMB in 2025, 12.02 billion RMB in 2026, and 16.23 billion RMB in 2027, reflecting year-on-year growth rates of +40.6%, +73.8%, and +35.0% respectively [3][7]. - The aerospace sector is anticipated to contribute nearly 50% of the company's revenue by 2024, driven by increasing demand for 3D printing in aerospace and consumer electronics [8][21]. Financial Projections - The company forecasts revenues of 606 million RMB in 2023, 492 million RMB in 2024, and a rebound to 691 million RMB in 2025, with a net profit of 131 million RMB in 2023, dropping to 67 million RMB in 2024, and recovering to 72 million RMB in 2025 [7][3]. - The diluted earnings per share are projected to be 0.317 RMB in 2023, 0.162 RMB in 2024, and increasing to 0.174 RMB in 2025 [7]. Business Overview - The company has established a full industry chain covering industrial-grade 3D printing equipment, materials, software, and technical services, achieving 100% domestic control [17][18]. - The company has developed over 40 specialized materials and has a strong focus on R&D, with a research and development expense ratio reaching 22.23% in the first three quarters of 2025 [8][19]. Market Dynamics - The global 3D printing market is projected to reach 219 billion USD in 2024, with China expected to account for approximately 27% of this market [40][45]. - The company is strategically expanding into consumer electronics and automotive sectors, leveraging its technology to meet the growing demand for lightweight and customized components [8][10][21].

Core Viewpoint - The commercial aerospace sector is experiencing a significant rebound, with a notable increase in related indices and stock prices, particularly in the 3D printing segment, which is gaining traction due to its cost-effectiveness and lightweight advantages [3][7]. Industry Overview - The A-share market has established a commercial aerospace 3D printing industry chain ecosystem centered around equipment services, investment layouts, and material support, with key players including Huazhu High-Tech, Youyan Powder Materials, and Feiwo Technology [6][7]. - The commercial aerospace index has seen a cumulative increase of over 60% since the beginning of the year, with the total industry market capitalization surpassing 8.9 trillion yuan [7]. Company Developments - Youyan Powder Materials focuses on the development and production of metal powder materials for additive manufacturing, successfully applying its 3D printing powder materials in commercial satellites and rocket components [7]. - Huazhu High-Tech is a leading player in the industrial-grade 3D printing sector, providing one-stop solutions for materials, processes, and control parameters, with a significant portion of its revenue coming from the aerospace sector [8]. - Silver Bond Co. has entered the aerospace 3D printing market through a financial investment in Fei'er Kang, holding approximately 16% of its shares, although it has not yet realized any dividend income from this investment [9]. - Jin Chengzi is focusing on industrial-grade clients in the 3D printing field, providing core components for 3D printing equipment and has successfully entered the commercial aerospace sector [9]. Market Trends and Challenges - The industry is at a critical development phase, with the potential for 2026 to mark a significant year for recoverable commercial rockets, highlighting the adaptability of 3D printing technology in complex engine structures [13]. - Despite the growth potential, there are concerns regarding the low revenue contribution from commercial aerospace operations, as many processes are still in small-batch trial stages [13]. - Technical challenges remain, including the density of 3D printed products compared to traditional forging processes and the low penetration rate of 3D printing technology in the commercial aerospace sector [13][14].

Core Viewpoint - Nanfeng Co., Ltd. (300004) is currently in the early stages of developing its 3D printing business through its subsidiary, Nanfang Additive, and has not yet achieved large-scale orders, which will have a limited short-term impact on the company's overall performance [1] Group 1 - The company is exploring diversified market expansion for its 3D printing business [1] - The related business is still in the cultivation phase and has not formed significant scale orders [1] - The short-term impact on the company's overall operating performance is limited [1]

Core Viewpoint - The company, Plater, provides customized metal 3D printing products and related technical services using its own metal additive manufacturing equipment, targeting various industries such as aerospace, industrial machinery, energy, scientific research, medical research, automotive manufacturing, and electronics [1] Industry Applications - The primary applications of the company's services include aerospace, industrial machinery, energy power, scientific research institutions, medical research, automotive manufacturing, and electronics [1]