Analysis of the Reasons for and Sustainability of the Continuous Limit-Up of Farsoon Technologies (688433)

Farsoon Technologies (688433) hit the 20% limit-up on the STAR Market for two consecutive trading days from January 5 to 6, 2026, becoming a strong stock in the market. Analysis shows that its upward trend is driven by both

1. Support from High-Growth Industry Background
   : In the first three quarters of 2025, the output of domestic 3D printing equipment increased by 40.5% year-on-year, making it the fastest-growing category in the equipment manufacturing industry [2]. In November of the same year, six ministries and commissions jointly issued a policy to include 3D printing in the new consumption scenario construction plan [2], and the market expects the industry to break out soon.
2. Peer Events Trigger Capital Flow
   : Competitor BLT (688333) was placed under investigation for suspected illegal information disclosure [3]. As a leading enterprise in China’s 3D printing field with independent R&D capabilities in equipment, materials, and software, Farsoon Technologies has become the preferred target for investors to avoid risks and pursue industry returns, driving its continuous limit-up [1].

• Technical Breakthrough
  : The stock price has broken through the previous platform of about 60-70 yuan in late December 2025 and entered a rapid upward channel. On January 5, when it hit the limit-up, the turnover rate was about 3.92%, and the trading volume increased significantly, indicating high market participation enthusiasm [4].
• Fundamental Contradiction
  : Although the industry prospect is optimistic, the company’s net profit in the first half of 2025 decreased by 86.30% year-on-year, and the non-net profit decreased by 94.24% [0], showing weak short-term profitability. There is a certain divergence between the stock price rise and the fundamentals.
• Institutional Attention
  : Farsoon Technologies has long been concerned by institutions, but its short-term upward trend is more event-driven than fundamental improvement.

• Risks
  : After continuous limit-ups, the valuation may deviate from fundamental support, posing an overvaluation risk; short-term financial pressure has not been relieved; the industry competition is fierce, and peer events may have subsequent impacts on the overall industry sentiment.
• Opportunities
  : The 3D printing industry is on the eve of a breakout driven by both policy and market positive factors. If the company can seize the industry growth opportunity and improve its profitability, long-term development is promising.

Farsoon Technologies’ current strong performance is mainly driven by industry trends and peer events. Technically, it shows a breakthrough trend, but there is short-term pressure on the fundamental side. Investors need to pay attention to the rationality of valuation and industry dynamics. The short-term support level is the closing price of January 5, 79.40 yuan, and the resistance level is the limit-up price of January 6, 95.28 yuan.

[0] Hunan Farsoon High-Tech Co., Ltd. 2025 Semi-Annual Report
[1] https://www.aijingu.com/stock/index.html
[2] https://m.tech.china.com/hea/articles/20251205/202512051777083.html
[3] https://wap.eastmoney.com/a/202601053608068543.html
[4] https://q.stock.sohu.com/cn/688433/index.shtml