On October 26, the founding conference of AVIC Manufacturing Additive Technology (Beijing) Co., Ltd. was held in Beijing. The company completed its overall transformation from a limited liability company to a joint-stock company, marking the full launch of its standardized governance and capitalization layout. AVIC Manufacturing is a leading domestic metal additive manufacturing enterprise under the Jingcheng Electromechanical system. Founder and General Manager Gao Zhengjiang led the company, and Chairman Teng Mingzhi presided over the conference. The conference elected the first board of directors of the joint-stock company and established an audit and risk committee. AVIC Manufacturing has built a complete 3D printing ecosystem covering alloy raw materials, metal powders, printing equipment, atomization furnaces, and application development. It has received the State Council's "Science and Technology Reform Enterprise" benchmark designation and the national-level specialized, refined, distinctive, and innovative key "Little Giant" title. After the shareholding reform, the company will pursue a dual-driven strategy of "materials + equipment," advancing frontier R&D in AI+AM and multi-spectrum alloy low-carbon recycling, while proactively positioning itself in emerging fields such as nuclear fusion, thermal management, and embodied robotics. The joint-stock reform is a key step before an IPO. Combined with Jingcheng Electromechanical's positioning as a core industry under its 15th Five-Year Plan strategy, AVIC Manufacturing's capitalization and capacity expansion expectations are clear. Its aerospace and consumer electronics markets continue to grow, further strengthening the domestic substitution mainline for high-end metal powders and complete additive equipment sets. Value for powder buyers: 1) Governance upgrades and capital backing for a leading powder supplier are expected to enhance supply stability and capacity assurance, reducing supply chain risk for existing customers. 2) Its IPO process and fundraising projects will bring announcements of new powder grades and capacity, making it worth tracking grade schedules and sample submission windows. 3) Layout in new tracks such as nuclear fusion and embodied robotics will release new powder validation and procurement demand, allowing early engagement with its application development team.