HGTECH(000988) 21世纪经济报道·2025-05-22 10:51Core Viewpoint - Huagong Technology is expanding its business layout in high-end and intelligent manufacturing by establishing a joint venture with Lika Precision Technology to enhance its capabilities in the 3D additive manufacturing sector [2][4]. Group 1: Joint Venture and Investment - Huagong Technology's wholly-owned subsidiary, Wuhan Huagong Laser Engineering Co., plans to establish a joint venture named Suzhou Lihua Technology with Lika Precision, with a registered capital of 200 million yuan, where Huagong Laser will contribute 140 million yuan (70%) and Lika Precision will contribute 60 million yuan (30%) [2]. - The collaboration aims to leverage technological resources and complementary advantages to shorten product development cycles and accelerate the commercialization of cutting-edge technologies [2][4]. Group 2: 3D Printing Business Development - Huagong Technology has a long history in 3D printing, originating from Huazhong University of Science and Technology, and has developed a comprehensive technology industrialization system from R&D to mass production [3]. - The company aims to enhance its technical innovation capabilities in the 3D additive SLM manufacturing field to meet the market demand for high-precision, complex metal components [4]. Group 3: Market Potential and Growth Strategy - The total market space for 3D printing is projected to reach approximately 110 billion yuan by 2025, with expectations to grow to around 500 billion yuan by 2030, driven by sectors such as aerospace, consumer electronics, and automotive electronics [4]. - Huagong Technology plans to expand its 3D printing applications in the 3C electronics sector, focusing on precision components for smartphones and wearable devices, as well as communication components for 5G/6G base stations [4]. Group 4: Material and Process Innovation - The company intends to focus on core materials such as titanium, aluminum, and magnesium alloys, while gradually expanding to nickel-based alloys and metal matrix composites to enhance the strength, corrosion resistance, and thermal stability of printed components [5]. - Innovations will include optimizing light paths for printing efficiency and developing multi-material composite printing to integrate various performance characteristics into a single component [5]. Group 5: Global Expansion and Financial Performance - The global additive manufacturing industry is entering a phase of rapid growth, with projections indicating a market size of 74.6 billion USD by 2030 [6]. - In 2024, Huagong Technology's smart manufacturing business achieved revenue of 3.49 billion yuan, a year-on-year increase of 9.45%, while its connectivity business generated 3.975 billion yuan, up 23.75% [6]. - The company is establishing a global layout with six domestic industrial bases and four overseas R&D centers, aiming to increase its overseas sales proportion from under 15% to over 30% [7].