Tiangong International's subsidiary Tiangong Co., Ltd. (920068.BJ) has received another catalyst in the consumer electronics titanium alloy sector: on the evening of October 16, Apple's first foldable phone, the iPhone Duo, opened for pre-order, with popular versions selling out within a short time, official website shipping pushed to early 2027, and pre-order reservations on major e-commerce platforms exceeding one million units. Counterpoint expects the model's 2026 shipment ceiling to be about 6 million units, accounting for roughly a quarter of the global foldable phone market at launch. Tiangong International already holds about half of the supply share for titanium frames in Apple's iPhone Pro series and is a core supplier in the Apple supply chain's titanium alloy segment. When unfolded, a foldable phone's frame is significantly longer than that of a bar phone, and the hinge cover adds new titanium usage, markedly increasing titanium alloy content per device; applications are extending from frames to core load-bearing components such as hinge covers. CICC estimates that by 2027, the market space for Apple's 3D printing materials and processing alone will reach RMB 3.2 billion, and is expected to rise to RMB 7.5 billion by 2030. Tiangong International has established a full industry chain from titanium alloy base materials to 3D printing powder: through its equity-invested company Tiangong Titanium Crystal, it has integrated plasma atomization powder production lines and possesses full-process production capability from titanium sponge to titanium ingots, wire, and then powder; Tiangong Titanium Crystal plans 3,000 tons/year of second-generation plasma beam atomization powder production capacity, and the first-phase 1,000-ton project has begun construction. For the metal additive manufacturing industry chain, the introduction of titanium alloys and 3D printing processes by a leading consumer electronics brand into foldable phone structural components means powder demand is spreading from aerospace and medical applications to the large-volume consumer market, and powder batch consistency and cost control capabilities will become the dividing line among suppliers. Tiangong's closed-loop layout from base material to powder precisely positions it in this higher-value, higher-barrier segment, and its capacity release pace is highly aligned with the pace of 3D printing adoption in consumer electronics. Value for powder buyers: ① Monitor the commissioning progress of Tiangong Titanium Crystal's first-phase 1,000-ton plasma beam atomization powder project and lock in annual supply agreements for consumer-electronics-grade titanium alloy powder in advance; ② Move batch consistency verification forward to the base material stage and prioritize suppliers with full-process traceability from titanium sponge to powder; ③ For newly titanium-using components such as foldable phone hinge covers, prepare in advance sample submissions and process parameter matching for fine-particle-size titanium alloy powder.