AMPulse Asia · Fortnight 21: Farsoon cuts proposed share placement to RMB 2.94 billion, retaining RMB 1.513 billion for AM services

Farsoon’s reduced RMB 2.94 billion share-placement proposal retains RMB 1.513 billion for AM services, suggesting that manufacturing services remain central to its expansion even as its financing ambitions shrink. Its H1 2026 totals of 222 printers produced and 113 sold do not establish customer demand or utilization for the proposed service fleet. With regulatory approvals pending, the investment case appears to depend on paid finished-part delivery and returns after finishing and inspection costs, rather than additional machine capacity alone. For investors, that could mean evaluating Farsoon’s proposed expansion as a manufacturing operation, with funding tied to demonstrated utilization and capital returns.

The revised financing terms expose a substantial proposed expansion into manufacturing services, making customer utilization and capital returns central to Farsoon's equipment-led business.

Farsoon cut its proposed share-placement ceiling to RMB 2.94 billion while retaining RMB 1.513 billion for AM services, leaving more than half of the proposed proceeds allocated to manufacturing services. The revised proposal puts a substantial service-capacity expansion alongside its equipment business, with customer utilization and capital returns still to be demonstrated.

The ceiling fell by RMB 970 million, while the proposed equipment-capacity allocation remained RMB 1.075 billion. Farsoon reduced proposed funding for AM services and overseas operating centers; regulatory approvals remained pending. The smaller financing proposal therefore preserved the equipment allocation while reducing funding for the other projects.

Separately, Farsoon reported 222 printers produced and 113 sold in H1 2026, alongside plans for capacity to produce an additional 1,000 units annually. The expansion was intended to supply both external customers and its own printing-services fleet. Those destinations matter: machines deployed internally represent service capacity, while external printer sales provide evidence of equipment demand. The production and sales totals alone do not establish utilization of the proposed service fleet.

Sina’s reporting described weaker margins and delays to earlier projects, adding operating context to the retained services allocation. For that investment, the relevant measures extend beyond machine output to paid customer work, qualified finished-part delivery and returns after finishing and inspection costs. The supplied reports did not establish those economics for the proposed expansion.

Notable Developments

Toptra - Local reporting attributes a RMB 30 million order for 50,000 metal-printed liquid-cooling components to Toptra, describing demand through Nvidia's supply chain. The disclosed order and reported output near 1,000 parts daily warrant attention, but direct customer confirmation and the order date remain unverified.
Graphy - Graphy signed a KRW 2 billion supply contract with MegaGen Implant covering Tera Harz E-Namel resin and printing and post-processing equipment. The agreement advances commercial procurement, although delivery terms, restoration volumes and repeat orders remain undisclosed.
Bambu Lab - 3Druck reports PTAB rulings against challenged claims in four Stratasys patents. Two affected patents underpin about USD 2.8 million of the USD 27.6 million jury award; the report does not establish that the full award has been overturned.
Japan Ministry of Land, Infrastructure, Transport and Tourism - Bureau Veritas describes criteria allowing qualifying single-story buildings up to 200 square meters with structurally integrated printed mortar formwork to proceed without individual ministerial certification. The potential qualification benefit is substantial, but the supplied evidence does not establish that the notification or its effective date falls within this fortnight.
Medyssey - Medyssey reportedly received FDA 510(k) clearance for the NeckTune SA cervical cage, combining a PEEK spacer with a printed titanium fixation plate. Related revenue is targeted for the first half of 2027, leaving hospital adoption and commercial conversion ahead.
Jiangsu Vilory Advanced Materials Technology - Vilory reportedly closed an RMB 100 million Series C+ round and plans an RMB 300–500 million Series D. Its expansion plan includes 5,000 tonnes of annual copper-powder capacity, but AM-grade allocation, commissioning dates and qualified demand remain undisclosed.
Bright Laser Technologies - BLT proposes an RMB 1 billion Taicang base combining equipment production, customized metal printing and post-processing, with construction estimated at 24 months. The scope supports an integrated manufacturing strategy, while output targets and utilization remain unspecified.
Triastek - Triastek reportedly signed an oral-drug licensing collaboration with Johnson & Johnson alongside venture investment. The named pharmaceutical partner strengthens commercial validation, but undisclosed financial terms and unresolved manufacturing and clinical milestones limit the conclusion.
Ninano Company - Ninano reports development cycles more than 60% shorter and airframes more than 20% lighter using HP MJF-printed PA12 drone components. The named process and material make the claims useful verification targets, but missing baselines, qualification data and independent corroboration keep them below deep-dive status.
CASV - CASV reports reducing sports-shoe mold production from more than 30 days to five and metal consumable use by 20%, naming Anta and Xtep as customers. The application is commercially relevant, but the supplied regional feature establishes no newly dated deployment and leaves mold life and finished-tool costs undisclosed.

By Country

🇰🇷 Korea

Creallo - Creallo released Atlas, a free desktop viewer supporting 13 file formats that combines local model inspection, manufacturing cost estimates and access to custom-part ordering.
CARIMATEC Co., Ltd. - CARIMATEC Co., Ltd. reported cell viability above 80% over 10 days with ZENESIS, which uses DLP to print cell-laden bioink directly onto slide glass.
Public Objet - Public Objet plans a studio move to Pocheon and permanent hires to expand large-format 3D-printing production of retail and public-space sculptures using Eco Mineral Cast.
Barah Innovation - Barah Innovation presented water-soluble sacrificial-mold GIM at Japan's High-Performance Materials Week 2026 and reported discussions with approximately 150 companies and institutions in Tokyo.
Carima - Carima exhibited the IMD-C multi-wavelength ceramic DLP system and CFSYS A500 Pro continuous-fiber printer at INTRA 2026 in Seoul, alongside materials and open print parameters.
EML - EML presented aerospace metal powders and printed components at AEROTEC 2026, reporting annual powder capacity of 3,000 tonnes and services spanning alloy development to finished parts.
LIG Defense & Aerospace - LIG D&A signed an agreement with Firehawk Aerospace to develop propulsion for the 2.75-inch Bigung rocket and pursue US localization using 3D-printed solid propellant.
ODS - ODS signed a supply agreement with BioCET covering patient-specific, directly printed AlignMiracle hybrid orthodontic appliances and clinical support for BioCET's bracket customers.

🇨🇳 China

Creality - Creality is allocating proceeds from its HKD 1.38 billion IPO to AI printing, supply chains and acquisitions, while reporting a first-half loss.
Shenzhen Uprise 3D Technology Co., Ltd - UPRISE 3D introduced the UPS-1000S PEP printer with a 1000 × 1000 × 600 mm build volume for metal and ceramic green parts requiring debinding and sintering.
Polly Technology - Polly Technology broke ground on an 18,338-square-meter headquarters site in Suzhou, with plans to combine materials research, equipment, software and cloud manufacturing.
Zhejiang Flashforge - Flashforge CJ270 is available for Japanese preorder from JPY 635,000 before tax and shipping, with late-December arrivals planned for the desktop full-color material-jetting printer.
Sichuan Zenglong - Sichuan Zenglong announced C95400 nickel-aluminum bronze powder in a 15–53 micrometer LPBF grade for marine applications, reporting printed density above 99.8%.
Adventure Technology - Adventure Technology introduced the ADT Ceram-DD50 ceramic DLP printer at RMB 39,800, requiring a starting slurry charge of 10 mL for formulation trials.
JIUHE Frontier Innovations and Science and Technology - JIUHE Frontier Innovations and Science and Technology houses ten large metal 3D printers in a 4,800-square-meter Beijing facility supporting spaceflight, aircraft-engine and fusion component development.
UnionTech - UnionTech says its Quick AI software drafts initial additive manufacturing process plans in minutes from historical engineering records, with engineers responsible for review and validation.

🇯🇵 Japan

HORKOS CORP - HORKOS CORP developed a machining center combining metal additive manufacturing and cutting, with an annual sales target of seven units for the hybrid system.
Fukuvi - Fukuvi began test sales of TOHKA 3D-printed plant pots on October 6, offering 125 combinations using wood-powder-filled resin across five pot shapes.
Chuetsu Pulp & Paper Co., Ltd. - Chuetsu Pulp & Paper Co., Ltd. supplied its plant-derived nanoforest cellulose nanofiber for adoption in Hotty Polymer's polypropylene 3D-printing filament, with printed-part performance unquantified.

Compiled from 33 sources · fortnight covers 2026-10-02 – 2026-10-16.