调研纪要：本次机构调研中，华曙高科就3D打印在鞋模行业的应用趋势进行了讨论，指出3D打印作为 一种绿色环保的生产方式，其放量取决于客户需求和发展规划。面对市场竞争加剧，公司表示将保持持 续创新，提供个性化解决方案，拓展市场。关于设备核心零部件的国产替代情况，公司透露大部分零部 件已实现国产化，核心部件如激光器、振镜等有国产和进口两种选择。对于近期关税波动的影响，公司 强调其在国际市场上具备竞争优势，将通过本地化服务和共同研发应对挑战。 机构简介： 根据市场公开信息及4月18日披露的机构调研信息，知名私募汐泰投资近期对1家上市公司进行了调研， 相关名单如下： 1）华曙高科 （汐泰投资参与公司特定对象调研） 以上内容为证券之星据公开信息整理，由智能算法生成（网信算备310104345710301240019号），不构成投资建议。 上海汐泰投资管理有限公司（汐泰投资）是一家中国市场上新兴的私募基金管理人，成立于2014年7月9 日，注册资金为人民币1000万元。专注于2015年3月登记备案成为私募基金管理人：P1009607；2017年 10月成为中国证券投资基金业协会观察会员。汐泰投资专注于股票二级市场投资管理， ...

Core 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].

Group 1 - The fifth China International Consumer Products Expo (CICPE) opened in Hainan, featuring over 1,700 enterprises and 4,100 brands from more than 70 countries and regions, with Shenzhen showcasing over 20 companies in key sectors like new energy vehicles and AI [2][3] - In the first quarter, China's total goods trade reached 10.3 trillion yuan, a 1.3% increase year-on-year, with exports at 6.13 trillion yuan (up 6.9%) and imports at 4.17 trillion yuan (down 6%), indicating a stable start despite external challenges [2] - China is leveraging its robust manufacturing supply chain, which has ranked first globally for 14 consecutive years, to stimulate domestic demand and transition towards a consumption-driven economy [2][3] Group 2 - The Ministry of Commerce has organized discussions with trade associations and major retailers to enhance domestic sales channels for foreign trade enterprises, with e-commerce platforms like JD, Alibaba, and Pinduoduo announcing measures to promote "export to domestic sales" [3] - The "Buy in China" series of activities was launched alongside the expo, aiming to enhance consumption quality and upgrade through nearly 30 events throughout the year, focusing on shopping, food, tourism, and performances [3] - Shenzhen's enterprises demonstrated significant strength in emerging consumption sectors, showcasing advanced technologies and innovative products that are reshaping the local consumption structure and contributing to Shenzhen's status as a trillion-yuan consumption city [4]

Group 1 - The sweeping robot market is highly competitive, with companies seeking new growth avenues, such as Stone's entry into the home appliance sector, investing millions to reduce prices significantly [1] - Stone's research indicated a potential in the washing machine market, leading to its collaboration with traditional appliance giants [2] - The drone industry is witnessing intense competition, with companies showcasing their production capabilities through promotional videos [3][4] Group 2 - A certain imaging equipment company has been vigilant against corporate espionage, reportedly capturing 30 spies within a year [5] - The 3D printing company,拓竹, has seen a turnaround in investor interest, projecting revenues of 6 billion in 2024, breaking previous market expectations [6][7] - The founder of a projection company is now involved in AI glasses, aiming to launch a more affordable product by April [8] Group 3 - A sweeping robot company is considering replacing laser radar with a dual-camera solution to reduce costs and improve operational efficiency [9] - A cross-border e-commerce company emphasizes a rigorous work culture, leading to a high attrition rate among new hires [10] - An AI hardware company, Plaud, underestimated its value but achieved significant sales success shortly after launching its product [11][12]

央视网消息：正在海南海口举行的第五届中国国际消费品博览会汇聚了4100多个消费品牌。其中，就有各种国产好物扎堆亮相，从 非遗技艺到科技潮品，国货产品通过传承与创新引领消费新潮流。 国货"出圈"，国潮"焕新"，在消博会可以"一站式"邂逅全国多地的国潮好物。 本届消博会上，中国30多个省（区、市）组团参展，集中展示非遗技艺、智能制造等各地消费精品与产业成果。 北京担任消博会首个主宾省（市） 从传统与现代融合的场馆设计到老字号、文创、首发科技，北京馆正以开放的姿态迎接八方来客。 消博会上首次设立主宾省（市）概念由北京市担任，汇集了25家优质企业分享北京发展成果与未来机遇。 这家北京科技企业带来的高颜值的AI耳机吸引了消费者试戴。 企业负责人刘一鸣介绍，多语翻译、语音转文字实时转写，以及最新推出的宠物语言翻译、语音情绪识别这样的功能，希望在传统 蓝牙耳机基础上给大家带来更多新体验。 北京馆里当然少不了老字号和国货潮品的身影，这家展商把景泰蓝制作工艺、北京中轴线文创产品带到了现场。 此外，第五届消博会特别设立了老字号展区，展现经典品牌焕新成果。 国货产品分享中国智慧 某文化公司创始人刘文辉介绍，传统非遗经过消费使用以后 ...

在技术与政策的双重驱动下，3D打印行业正迎来快速发展。据中商产业研究院发布的报告，预计到 2025年，中国3D打印市场规模将超过630亿元。 面对快速增长的市场，上市公司正加速布局3D打印这一潜力赛道。 湖南华曙高科技股份有限公司（以下简称"华曙高科"）是全球极少数同时具备3D打印设备、材料及软 件自主研发与生产能力的增材制造企业，销售规模位居全球前列。 华曙高科董秘刘一展向《证券日报》记者介绍："公司建立了涵盖选区激光熔融（SLM）和选区激光烧 结（SLS）技术路线的'设备—软件—材料—工艺—应用'全链条一体化自主技术体系，形成了相关技术 自主知识产权。此外，新基地增材制造研发制造总部于去年12月份正式投入使用，公司供货能力以及研 发创新实力进一步提升。" 近日，我国首次在模拟微重力环境下，应用冷阴极电子枪实现"太空级"3D打印。这一重大进展打破了 此前国外在该领域的长期技术垄断，也引起了资本市场对3D打印行业的高度关注。 西安铂力特增材技术股份有限公司运用多年金属增材制造技术的专业经验，通过持续创新为航空航天、 能源动力、医疗齿科、工业模具、汽车制造等行业客户提供服务。公司近期公告显示，"金属增材制造 产 ...

Investment Rating - The investment rating for the industry is "Outperform the Market" (maintained) [2] Core Insights - The additive manufacturing, also known as 3D printing, is revolutionizing precision manufacturing in consumer electronics, driven by companies like Apple [5][8] - The global 3D printing market is projected to grow from approximately $20 billion in 2023 to $36.2 billion by 2026, with a CAGR of 21.8% [5][31] - China is identified as the most promising market for 3D printing, with an expected market size of approximately 41.5 billion yuan by 2024 [5][31] Summary by Sections 1. Comparison of Additive Manufacturing and Traditional Manufacturing - Additive manufacturing offers significant advantages such as reduced R&D costs, efficient formation of complex structures, high material utilization, and rapid solidification processes [5][11] - The technology is categorized into metal and non-metal types, with metal 3D printing being more mature and widely applied in aerospace, medical, and automotive sectors [5][19] 2. Cost Reduction and Efficiency Improvement - The industry is transitioning to "Additive Manufacturing 2.0," focusing on cost reduction and efficiency improvements to enable mass production [5][49] - The price of titanium alloy powder has decreased significantly, from 600 yuan/kg to below 300 yuan/kg, contributing to lower production costs [5][49] 3. Main Downstream Applications: Consumer Electronics, Aerospace, and Automotive - The consumer electronics sector is a key application area for 3D printing, with components like hinges for foldable phones being produced using this technology [5][68] - Apple has been actively exploring 3D printing for products like the Apple Watch and foldable devices, indicating a strategic shift towards additive manufacturing [5][71] - In aerospace, the market for 3D printing is expected to reach $4.1 billion by 2024, growing to $8.2 billion by 2029 [5][72] 4. Industry Chain Related Companies - Recommended companies to watch include 3D printing equipment manufacturers like Platinum and Huazhu High-Tech, as well as core component suppliers like Jingyan Technology and Luxshare Precision [5]

Core Insights - The article highlights the launch of a metal 3D printing-based tactile sensing solution for robotic fingers by Huali Chuang Science, addressing the long-standing issue of tactile perception in humanoid robots [1] Company Summary - Huali Chuang Science showcased its tactile sensing solution at the 2025 Shanghai TCT Asia event, featuring the Photon Finger multi-dimensional force sensor and the Photon R40 six-dimensional force sensor [1] - The Photon Finger is noted as the world's smallest multi-dimensional force sensor, with a diameter of only 8.5mm and a thickness of 7mm, setting a new standard for micro-sensors in the industry [1] Industry Summary - The sensors displayed are the first of their kind to utilize metal 3D printing technology in the production of optical-based six-dimensional force sensors, marking a significant innovation in the field [1] - The advanced manufacturing technology provided by Platinum Technology has led to breakthroughs in core performance, production scale, and efficiency for these sensors [1]

Core Viewpoint - The article discusses the emerging trend of using 3D printing technology to create luxury brand replicas at a significantly lower cost, enabling individuals to produce high-end fashion items at home [2][4][6]. Group 1: 3D Printing Technology in Fashion - 3D printing is a rapid prototyping technology that allows users to create three-dimensional objects by adding materials layer by layer based on digital models [5][6]. - The process of creating luxury items like LV bags can be done at home for as little as 20 yuan, making it accessible to a wider audience [4][6]. - Various luxury items, including Chanel and Gucci bags, can be replicated using 3D printing, showcasing the versatility of this technology in the fashion industry [7][8]. Group 2: Materials and Techniques - Common materials used in 3D printing include PLA (polylactic acid) and TPU (thermoplastic polyurethane), each with distinct properties suitable for different applications [12][17]. - PLA is biodegradable and easy to work with but lacks durability, while TPU offers better flexibility and strength, making it suitable for functional items [18][19]. - The cost of materials is relatively low, with PLA priced around 55 yuan per kilogram, allowing for affordable production of 3D printed items [15][18]. Group 3: DIY Culture and Community - The rise of 3D printing has fostered a DIY culture where individuals can create their own fashion items, leading to a community of enthusiasts sharing designs and techniques [25][26]. - Apps like "Bambu Handy" provide access to open-source models and tutorials, making it easier for beginners to start 3D printing [25][26]. - The trend has sparked interest in personalized and unique fashion items, allowing users to express their creativity and style [27][28]. Group 4: Industry Implications - Major fashion brands are also exploring 3D printing for their collections, with designers using the technology to create innovative and complex designs that were previously difficult to achieve [29][30]. - The ability to produce items quickly and with less waste aligns with the growing demand for sustainable fashion practices [30][41]. - 3D printing is seen as a way to enhance customization and reduce production times, which can be beneficial for brands looking to respond to market trends rapidly [41][42].

国科嘉和已率先通过前瞻性布局围绕新质生产力展开了系统性投资。 作者丨簪竹 来源丨投中网 随着政策春风吹来，创业投资前所未有地站到了舞台中央。 新"国九条"明确畅通"募投管退"循环，强调科创投资对于科技创新的支持；中央经济工作会议力倡以 科技创新引领新质生产力发展，壮大耐心资本...... 在加快发展新质生产力的新形势下，如何答好科技创新"时代命题",也考验着创投机构的智慧。 将投中网设为"星标⭐"，第一时间收获最新推送 作为投身硬科技投资领域十余载的老兵， 国科嘉和一直致力于推动优质科技成果进行市场化、产业 化发展，在其累计投资的百余家优秀科技企业里，近30家已成功IPO、已过会和已申报IPO，50余家 企业荣获国家级专精特新"小巨人"。 这也意味着，当众多投资机构纷纷转向硬科技赛道时，国科嘉和已率先通过前瞻性布局围绕新质生产 力展开了系统性投资。 技术资本助推高质量科创产业项目落地 在民营资本投资意愿减弱等大背景下，以政府引导基金、政府投资基金为代表的国资基金成为国内创 投市场的"白衣骑士"，为国内创投及私募股权市场注入了稳定资金。 据CVSource投中数据显示，2024年，政府机构及国资控股机构LP出资 ...