VMP Co., Ltd. announced on October 11, 2026, the completion of its C+ round equity financing, with Jiangsu Guotou and Suneng Shares jointly contributing a total of RMB 100 million in a directed investment, bringing the company's cumulative financing total to nearly RMB 800 million. The funds are primarily allocated to the construction of the Jiangsu VMP New Materials Industrial Park (Phase IV project) and the R&D iteration of new materials and equipment. The Phase IV project is being built to 'lights-out factory' standards, with planned additional annual production capacity for key powder materials including 3,000 tons of titanium, 5,000 tons of copper, 2,000 tons of aluminum, and high-strength steel. The Phase III 'unmanned factory' has already commenced production, featuring over 10 EIGA production lines, along with newly added production lines for cluster-type zero-carbon titanium recycling, high-precision MIM injection feedstock preparation, and RDA centrifugal atomization. Upon full ramp-up of Phases III and IV, the company's annual designed metal powder production capacity is expected to exceed 10,000 tons. VMP is a national-level 'Little Giant' enterprise specializing in niche sectors and a 'Science and Technology Reform Demonstration' enterprise. In December 2025, it completed a nearly RMB 310 million C round financing at a post-investment valuation of RMB 2.11 billion, setting the record for the highest single financing in China's metal 3D printing materials sector that year. Following the closing of the C+ round, the company will soon launch its D round financing (with a planned raise of RMB 300-500 million) to expand intelligent production lines for high-end alloy powders, deploy specialty metal powders for AI thermal management/3C electronics/semiconductors/aerospace, and advance IPO preparation. Value to powder buyers: ① After Phase IV begins production, it will add 10,000-ton-scale supply of titanium, copper, and aluminum powders; titanium alloy powder and copper alloy powder buyers can track capacity ramp-up and batch price changes; ② The multi-process matrix of EIGA + zero-carbon titanium recycling expands the selection of differentiated grades such as recycled titanium powder; ③ Increased financing confirms the prosperity of the high-end metal powder localization sector; D round and IPO progress merit continued attention.