Source: PanDen
166
On September 2, 2024, Panda3dp.com learned
that recently, Farsoon Technologies(华曙高科) (SH 688433)
released its financial report for the first half of 2024, achieving an
operating income of 227 million CNY, a decline of 5.75% compared to the same
period last year. Net profit attributable to shareholders of listed companies
was 32.90 million CNY, a decrease of 22.60% year-on-year. The gross profit
margin was 49.61%, down 4.37 percentage points from the same period last year. Major Developments in the First Half of
2024 1. Actively Advancing Investment Projects,
Expanding Production and R&D Facilities During the reporting period, the company
actively promoted the construction of investment projects such as the “Additive Manufacturing Equipment Expansion Project” and the “R&D Headquarters and
Industrialization Application Center Project,”
encompassing approximately 122 acres of land, with a total site area of about
82,000 square meters and a total building area of 140,000 square meters. These
include R&D buildings, production plants, and processing service centers.
By the end of January 2024, the primary structural construction of the R&D
buildings and production plants of the first phase had been completed. By the
end of the reporting period, the first phase of these buildings had entered the
decoration stage and is expected to be completed and put into use in the second
half of 2024. 2. Increased Investment in R&D,
Continuously Innovating Technologies Through continuous independent innovation,
the company has established a comprehensive, integrated technology system
covering equipment, software, materials, processes, and applications in the
fields of Selective Laser Melting (SLM) and Selective Laser Sintering (SLS),
securing proprietary intellectual property rights. In the first half of 2024,
Farsoon continued to increase its R&D investment, expanding its team of
R&D personnel. The company's total R&D expenditure during the reporting
period reached 40.97 million CNY, an increase of 5.68% compared to the same
period last year, accounting for 18.05% of total revenue. During this period, the company acquired
five new invention patents, 13 utility model patents, seven design patents, and
three software copyrights. By the end of the reporting period, the company held
172 valid invention patents, 177 utility model patents, 45 design patents, and
45 software copyrights. Additionally, the company took the lead in or
participated in the formulation of one new national standard for additive
manufacturing technology during the reporting period. As of the end of the
reporting period, the company had led or participated in the formulation of 15
national standards and six industry standards for additive manufacturing
technologies. During the reporting period, the company
consistently enhanced its technological R&D efforts and innovation
capabilities, launching low-support technology that enables the
high-efficiency, high-quality, mass production of complex structural parts without
the need for support, reducing support usage by 99.8%. It overcame significant
technical challenges related to the forming of special structures like inverted
cones and horizontal round holes, marking a substantial improvement in
low-angle forming capabilities in metal 3D printing. Additionally, the company
introduced advanced scanning control technology, allowing for highly consistent
scanning lines and significantly expanding the process development window. This
multi-channel control technology enables one card to simultaneously control
four galvanometers and lasers to perform different scanning tasks, breaking
long-standing import restrictions and achieving domestic substitution. In the
field of polymer materials, the company developed nylon powder materials with
high yield strength and PA6 Flight materials with high strength, heat
resistance, and toughness. 3. Expanding into Application Markets to
Meet Diverse Customer Needs Across Various Industries With years of deep involvement in the 3D
printing technology sector, Farsoon Technologies has gained a profound
understanding of the diverse needs of customers across various industries.
Through independent innovation, the company continuously achieved breakthroughs
in size, efficiency, quality, cost, and intelligence in additive manufacturing,
offering more solutions tailored to the needs of specific industrial users.
During the reporting period, the company actively collaborated with customers
in various downstream industries, empowering them with breakthrough innovations
in design and improved production efficiency across multiple application
fields. In the consumer goods sector, the company
partnered with top-tier golf design firms to launch brand-new 3D-printed
titanium alloy golf club heads and customized metal 3D printing solutions for
well-known titanium alloy bicycle manufacturers. In the industrial mold sector,
the company introduced solutions tailored to the footwear mold industry,
covering equipment, materials, processes, and software, which have been
successfully applied to popcorn shoe molds, EVA shoe molds, and RB shoe molds,
among others. In the medical field, Farsoon's metal 3D printing equipment
helped customers achieve the world’s first 3D-printed
bone-like tantalum metal bone reconstruction rods (Tanyison®) and the
thoracolumbar vertebral body "porous vertebral fusion cage," which
successfully obtained Class III medical device registration certificates from
the National Medical Products Administration (NMPA). Additionally, the company’s “self-stabilizing cervical interbody
fusion system” was the first of its kind in China to
receive NMPA approval for market release. In the low-altitude economy sector,
the company has maintained long-term collaboration with internationally
renowned flying car manufacturers and made new breakthroughs, laying a solid
technical foundation and establishing a deep market base for further expansion
in this emerging field. Revenue Composition Panda3dp.com noted that among the major
holding and affiliate companies of Farsoon Technologies, during the reporting
period, Hunan Farsoon New Materials Technology Co., Ltd. achieved revenue of
11.23 million CNY, Farsoon US recorded revenue of 4.5 million CNY, and Farsoon
Europe generated revenue of 27.99 million CNY. Farsoon Technologies reported revenue of
184 million CNY from 3D printing equipment and auxiliary parts, 18 million CNY
from 3D printing powder materials, and 24.23 million CNY from after-sales
services and other sources. Domestic revenue amounted to 178 million CNY, while
overseas revenue totaled 48.58 million CNY. Core Products and Services Farsoon Technologies' core products include
independently developed and proprietary metal and polymer 3D printing
equipment, as well as self-produced polymer 3D printing powder materials. Metal 3D Printing Equipment The independently developed metal 3D printing equipment utilizes Selective Laser Melting (SLM) technology, in which laser energy fully melts metal powder layer by layer to form components. This technology offers significant advantages, including excellent surface quality of the parts, high internal metallurgical density, rapid solidification characteristics, and strong mechanical properties. It enables high printing precision and the creation of extremely complex structures, making it suitable for the direct manufacturing of end-use components. Additionally, this forming technique can significantly shorten the product development and manufacturing cycle and supports a wide range of metal materials, including titanium alloys, aluminum alloys, superalloys, copper alloys, cobalt-chromium alloys, stainless steel, high-strength steel, tool steel, and refractory metals. Compared to traditional subtractive manufacturing, it provides higher material utilization and greater design freedom, allowing for advanced design methods such as integrated design, topology optimization, and lattice design. The main SLM equipment products developed and produced by the company are as follows: Polymer 3D Printing Equipment The independently developed polymer 3D
printing equipment employs Selective Laser Sintering (SLS) technology. Due to
the technical complexities of shape and property control for forming materials,
SLS is one of the more intricate processing methods. The company is among the
few global additive manufacturing equipment suppliers that have mastered this
core technology and launched industrial-grade equipment. SLS technology uses
laser energy to fully melt and solidify polymer powders and other materials, resulting
in parts with excellent mechanical properties and heat resistance. It allows
for the creation of highly complex structures without the need for support
designs, with high material utilization and precision. During printing, parts
can be stacked, enhancing manufacturing efficiency, and the final products have
a wide range of applications. Building on this, the company was the first in
the world to introduce Flight technology, enabling multi-laser configurations,
which allows for the printing of fine, thin-walled parts while significantly
boosting production capacity and print quality. The main SLS equipment products
developed and produced by the company are as follows: Polymer 3D Printing Powder Materials Guided by the diverse needs of industrial
applications, Farsoon Technologies has established a comprehensive product
system for polymer and composite powder materials, featuring base materials
such as polyamide (PA), polyurethane (TPU), and polyphenylene sulfide (PPS).
These materials are compatible with both CO2 and fiber lasers. The main 3D
printing polymer powder materials developed and produced by the company are as
follows: |