On October 8, 2026, Farsoon Technologies (688433.SH) announced that its board of directors approved an adjustment to its 2026 private placement of A-shares to specific investors. The total fundraising amount has been reduced from no more than RMB 3.91 billion to no more than RMB 2.94 billion, and the maximum number of shares to be issued has been adjusted to no more than 125 million shares. This adjustment does not require approval by the shareholders' meeting. The revised use of proceeds is as follows: RMB 1.075 billion for an advanced additive manufacturing equipment capacity expansion project, RMB 1.513 billion for an additive manufacturing comprehensive service platform construction project, and RMB 352 million for a global operations center construction project. Previously, the company's RMB 3.91 billion private placement plan was accepted by the Shanghai Stock Exchange in August this year, marking the largest single fundraising in China's additive manufacturing industry to date. On that day, Farsoon Technologies' share price closed at RMB 75.45, down 4.23%. The nearly RMB 1 billion reduction in the private placement scale reflects the company's proactive adjustment of fundraising pace amid the capital market environment. The equipment capacity expansion project remains the largest investment destination, and the direction of additive manufacturing industrialization expansion remains unchanged. Value for powder buyers: ① The implementation of the equipment capacity expansion project will directly expand metal 3D printing equipment shipments; growth in equipment installations is a leading indicator of metal powder consumption; ② The construction of the comprehensive service platform will drive centralized procurement of multiple powder grades in printing service scenarios; ③ Pay attention to the final issuance results of the private placement and the commissioning milestones of capacity projects to plan ahead for the supply of corresponding powder grades.