Farsoon Technologies Releases 2024 Annual Report: Revenue Hits CNY 492 Million, Net Profit CNY 67.2 Million

On March 19, 2025, Farsoon Technologies (688433.SH) officially released its 2024 annual report. According to the data, the company recorded an annual revenue of CNY 492 million, representing an 18.82% decline compared to CNY 606 million in 2023. Net profit attributable to shareholders of the listed company stood at CNY 67.2 million, marking a 48.76% decrease from CNY 131 million in the previous year. Excluding non-recurring gains and losses, net profit attributable to shareholders was CNY 54.82 million, a 53.58% drop from CNY 118 million in 2023.

In the report, Farsoon Technologies provided insight into the reasons behind its performance fluctuations. The decline in revenue was primarily attributed to a weakened demand in downstream markets, which led to a reduction in sales orders. Meanwhile, despite the decrease in revenue, the company continued to face rising costs in raw materials and labor, resulting in a significant dip in net profit due to multiple compounding factors.

Demonstrating a steadfast commitment to technological innovation, Farsoon Technologies invested heavily in research and development throughout 2024, allocating CNY 98.89 million, which accounted for a notable 20.10% of its total revenue.

Key Developments During the Reporting Period

1. Commissioning of the Additive Manufacturing R&D and Production Headquarters

In 2024, the company advanced the construction of its fundraising-backed projects—namely, the expansion of its additive manufacturing equipment production capacity and the development of its R&D headquarters and industrial application center. The first-phase production plant and R&D headquarters building were completed on schedule, with the new additive manufacturing R&D and production base officially operational by December 2024, now serving as the primary site for production and administration.

The new facility spans approximately 140,000 square meters, greatly enhancing production and R&D capacity. It houses an industrial-grade 3D printing equipment production line center, an international innovation research center for additive manufacturing, advanced R&D laboratories, an industrial-grade printing service line, a testing and debugging workshop, and an international after-sales service center. This infrastructure lays a robust foundation for the company to explore diverse application scenarios, boost production capacity, enhance delivery capabilities, and elevate its R&D and innovation strength—ultimately augmenting its overall profitability.

2. Enhanced R&D Investment and Sustained Technological Innovation

Through continuous in-house innovation, Farsoon has established a comprehensive and independent technological system spanning the entire value chain of selective laser melting (SLM) and selective laser sintering (SLS), including equipment, software, materials, processes, and applications. In 2024, the company further intensified its R&D efforts, expanding its team and increasing R&D investment to CNY 98.89 million—up 20.06% year-on-year, accounting for 20.10% of its total revenue. During the reporting period, the company secured 8 new invention patents, 27 utility model patents, 25 design patents, and 6 software copyrights. As of the end of the period, Farsoon holds 175 valid invention patents, 188 utility model patents, 62 design patents, and 48 software copyrights.

Additionally, the company led or participated in the formulation of one new national standard for additive manufacturing technologies in 2024, bringing its total contributions to 15 national standards and 6 industry standards.

Farsoon continues to bolster its technological capabilities, enrich its product portfolio, and strengthen its responsiveness to market demands. The company is advancing toward high-quality development characterized by technological sophistication, core independence, an optimized supply chain, and robust industrialization capabilities. It is targeting breakthroughs in large-format, high-efficiency, high-precision, and intelligent systems across equipment, software, materials, and processes to enhance printing efficiency, precision, and quality, in alignment with increasingly diversified market demands.

- (1) Launch of First Independently Developed Domestic Control Card  

  Drawing upon over a decade of expertise in scanning control technology and additive manufacturing processes, the company has developed an advanced scanning control system that breaks long-standing dependence on imported technologies. This innovation integrates galvanometer motion control with laser power modulation to ensure exceptional scanning consistency, broadening the window for process development and enhancing adaptability across varied application scenarios.

- (2) Introduction of Cutting-Edge Cold Metal Fusion Technology  

  In collaboration with German partner Headmade, Farsoon successfully developed Cold Metal Fusion (CMF) technology on its polymer additive manufacturing platforms. This breakthrough enables batch production of titanium alloy components using polymer powder bed systems, marking a major milestone in cost-effective, high-efficiency metal additive manufacturing.

- (3) Proprietary High-Strength Carbon Fiber PA6 Material  

  The company unveiled its independently developed FS6130CF-F, a high-strength PA6 carbon fiber composite material with a tensile strength exceeding 110 MPa. This material balances lightweight performance with superior strength, offering cost-effective 3D printing solutions for sectors including automotive, aerospace, sports equipment, and electronics that require high temperature resistance, strength, and modulus.

- (4) Deployment of Intelligent Manufacturing Execution System  

  Farsoon introduced its custom-built Farsoon MES (Manufacturing Execution System), tailored for modern additive manufacturing production lines. The system encompasses six modules: production, materials, quality, maintenance, data visualization, and analytics. With features such as real-time monitoring, intelligent optimization, and powerful analytics, the MES allows one operator to manage up to 12 machines, reducing labor costs by 70%. It is already in active deployment with customers.

3. Expanding Downstream Applications and Diversifying Industry Engagement

With the increasing adoption of additive manufacturing across industries, end-user demands are becoming more varied, while mass production scenarios impose greater technical challenges—ranging from efficiency and consistency to cost control and supply chain optimization. Drawing on its deep expertise, Farsoon continues to deliver innovative solutions in dimensions, speed, quality, cost-efficiency, and smart production to address the evolving needs of industrial customers.

- (1) Aerospace  

  Farsoon collaborated with clients to develop large-format, professional-grade copper alloy AM systems capable of stable processing of highly reflective materials. During the reporting period, the company achieved qualification for producing Scalmalloy® parts—a high-strength, corrosion-resistant aluminum-scandium alloy—from Airbus’s APWORKS. Farsoon’s systems support lightweight design and high-efficiency, reliable production for next-generation aerospace applications.

- (2) Low-Altitude Economy  

  The company advanced AM solutions for both industrial and consumer-grade aerial vehicles, maintaining partnerships with renowned flying car manufacturers while exploring broader applications. Focused development of high-performance metals and specialized polymers is helping the sector address critical lightweighting challenges.

- (3) Tooling and Molding  

  Farsoon has built deep expertise in footwear molding, offering tailored solutions encompassing equipment, materials, processes, and software. Its 3D printing technologies have been successfully applied to popcorn, EVA, and RB shoe molds, with over 10 million pairs of finished shoes produced—delivering cost reduction, quality enhancement, and efficiency gains for industrial clients.

  Additionally, the company’s in-house precision printing solution for mass production can achieve surface roughness as low as Ra 3.0μm, with dimensional accuracy of 0.05 mm and minimum wall thickness of 0.1 mm. These capabilities effectively serve sectors such as consumer electronics, healthcare, and precision mold manufacturing.

- (4) Medical  

  In the healthcare space, customer Dazhou Medical utilized Farsoon's metal 3D printing solutions to develop the world’s first 3D-printed biomimetic tantalum bone graft (TanRuisheng®), which has received Class III medical device certification from the NMPA. Huaxiang Medical also secured approval for its porous vertebral fusion cage and a self-stabilizing cervical interbody fusion system with bionic trabecular structures—marking a first in the domestic market.

Farsoon Technologies’ 2025 Vision

With the theme “Breakthrough Through Innovation, Co-Creating the Future,” Farsoon showcased a range of pioneering technologies, including proprietary beam shaping, melt pool monitoring, and powder surface flatness detection. New product releases included a full lineup of metal powder rotating depowdering platforms and the Flight HT601P-4, a polymer printer featuring a 600 mm build width and four lasers. Product enhancements were also introduced: the FS1521M-U now supports a 32-laser configuration; the FS721M series adds a high-cylinder CAMS option; and the FS350M series is upgraded with six lasers—once again affirming Farsoon’s unwavering commitment to driving industrial-scale additive manufacturing forward and positioning the company as a leader in innovation.