August 29, 2026 (Blue Whale News) – Aisikai (300521.SZ) released its 2026 interim results: H1 operating revenue reached RMB 84.15 million, up 10.58% year-on-year; net loss attributable to shareholders widened to RMB 16.07 million from RMB 13.24 million in the prior-year period; and non-GAAP net loss expanded by 36.60% to RMB 17.80 million. The company posted "revenue growth without profit improvement," as 3D printing equipment sales surged 53.34% year-on-year, becoming the key growth driver — driven by volume shipments of its Storm S-series and T-series 3D sand-printing systems. Selling expenses rose 33.50% due to increased promotion of 3D printing products. By region, revenue in East China, North China, and Southwest China grew 70.28%, 120.88%, and 126.42%, respectively, while overseas revenue declined 32.44%. Value insights for powder buyers: ① 3D sand printing serves the casting industry (sand mold and core production) and complements rather than competes with metal powder bed processes; the ramp-up in equipment sales signals overall growth momentum in the additive manufacturing sector. ② The "revenue up, profit down" trend reflects rising promotion costs and price competition; lower equipment prices are likely to expand the consumption of printing consumables. ③ The digital upgrade of casting processes opens new potential demand for metal powders (casting alloy powders); buyers should monitor the pace at which sand-printing customers transition toward metal printing.