Yuding Additive Manufacturing completes IPO tutoring, advances toward A-share listing on STAR Market

Yuding Additive Manufacturing Research Institute, the Beijing-based metal additive manufacturing company founded by Academician Wang Huaming and Beihang University, has completed its full four-phase IPO tutoring program with Guoxin Securities. The tutoring process began in April 2025 and concluded in June 2026, with the company now positioned to file its prospectus for a listing on Shanghai's STAR Market (科创板). Yuding has raised approximately RMB 250 million in a Series A round at a post-money valuation of RMB 1 billion, followed by a Series B led by the Xiong'an New Area government platform with participation from SDIC Chuanghe, CAS Star, CSC Capital, and Lepu Medical at a post-money valuation of RMB 3.3 billion, and a Pre-IPO round in December 2025 led by Shanxi Securities with follow-on from existing investors.

This IPO push represents the most significant attempt by a Chinese metal AM "national team" entity to access public capital markets, following the precedent set by BLT (Bright Laser Technologies) and Farsoon Technologies. Yuding operates the National Engineering Laboratory for Additive Manufacturing of Large Metal Components, jointly established with Beihang University, and holds the 2012 National Technology Invention First Prize for its titanium alloy large-scale integral complex component laser forming technology. The company's core differentiator is its focus on large-format critical structural components for aerospace and defense applications, a segment where qualification barriers are extreme and program-duration lock-in is the norm. Yuding's technology has been in production use since 2005 across advanced fighter jets, large aircraft, heavy-lift rockets, spacecraft, and nuclear power equipment, giving it a qualification depth that few Chinese competitors can match.

For the market, the key variables are the prospectus disclosure timeline — typically 6 to 12 months from tutoring completion — and the specific financial performance data that will determine whether Yuding can command a valuation comparable to BLT's public market multiple. The company's relocation to Xiong'an New Area in September 2024 aligns with national policy priorities, and the broader Chinese AM equipment production growth of 50.9% year-on-year in early 2026 provides a favorable macro backdrop. Investors should focus on whether Yuding can demonstrate the production repeatability and cost discipline required to scale beyond its current defense and aerospace program base into broader industrial applications.