Analysis of the Strong Performance of Aisikai (300521): Driven by Breakthroughs in 3D Printing Business to Hit Limit-Up

Aisikai Technology Co., Ltd. (Stock Code: 300521.SZ) performed strongly on January 8, 2026, with its share price hitting the limit-up and entering the pool of popular strong stocks. The closing price on the day was RMB 33.09, representing a 14.10% increase from the previous trading day, and the intraday high reached RMB 34.80 (an 18.41% increase), hitting a 52-week high [0][1]. In terms of trading volume, the full-day trading volume was 23.75 million shares, 5.3 times the average daily trading volume of 4.5 million shares, with a turnover of RMB 616 million, indicating a significant increase in capital attention [0][1].

From the market data perspective, the Tonghuashun capital monitoring system shows that there was a net purchase of extra-large orders for two consecutive days from January 7 to 8, with the main capital showing a continuous inflow trend [1]. This performance of simultaneous increase in volume and price indicates that the market has formed a relatively consistent optimistic expectation for this stock.

One of the important catalysts for this stock price rally is the company’s directional private placement plan. According to the announcement, the controlling shareholder Aishute intends to fully subscribe for the directional private placement shares worth RMB 80 million to RMB 120 million in cash, with a lock-up period of 18 months [1]. This move has dual significance: First, the major shareholder’s share increase with real funds demonstrates firm confidence in the company’s long-term development; second, the raised funds will be fully used to supplement working capital, which helps optimize the company’s capital structure and reduce financial risks. For an enterprise in a strategic transformation period, the major shareholder’s share increase sends a positive signal to the market.

The company’s 3D printing business has recently received a number of positive news, which is the fundamental factor supporting the stock price rally. Specifically, the 1024 printhead has completed verification and entered the small-scale production stage, which means the core technology is moving from R&D to industrialization [2]. At the same time, the 8-laser metal printhead has completed the upgrade verification of the second-generation prototype, achieving 100% localization, and the independent and controllable technical capability has been greatly improved [3]. In addition, the company has also received RMB 4 million in support from the government for key R&D projects, showing policy recognition of the company’s technical route [1].

From the perspective of business implementation, the company has carried out frequent cooperation moves recently. On December 29, 2025, Aisikai formally established a joint venture “Jier Aisikai” with Jinan No.2 Machine Tool Group, marking the further deepening of the company’s layout in the industrial application field [1]. The company signed a framework agreement with Weici Technology for the procurement of ceramic 3D printers with a value not exceeding RMB 7.5 million, and reached a strategic cooperation with Aiding Intelligence on the 3D printed metal shoe mold project in Quanzhou, Fujian [4][5]. The advancement of these cooperation projects provides diversified application scenarios for the commercialization of the company’s 3D printing technology.

From the industry perspective, the 3D printing concept sector has been generally active recently, with continuous capital inflows. The event that Apple Watch began to adopt 3D printed structural components (BLT as the supplier) has driven market attention to the application of 3D printing technology in the consumer electronics field [7]. At the same time, the economic effect of trendy toy IPs such as LABUBU has also stimulated the demand growth for consumer-grade 3D printing equipment [6]. Under the sector linkage effect, Aisikai, as a supplier of 3D printing equipment and core components, naturally benefits from the rising popularity of the overall sector.

From a technical analysis perspective, Aisikai showed a breakout pattern today. In terms of price, the intraday high reached RMB 34.80, hitting a 52-week high and breaking through the upper edge of the price range over the past year (the 52-week range is RMB 16.20-34.80) [0]. The 20-day moving average is currently at RMB 28.34, and the current price is about 17% higher than the 20-day moving average, showing a strong short-term trend [0]. From the 5-day increase, the cumulative increase is 15.74%, with sufficient short-term momentum [0].

Technical Indicator	Current Status	Signal Interpretation
MACD	Golden Cross	Short-term trend turns strong, buy signal [1]
20-day Moving Average	Price stays above the moving average	Short-term moving averages show a long arrangement
Trading Volume	Significantly expanded	Capital attention increases, active turnover
Price Position	52-week High	Upside potential unlocked

Trading volume is a key indicator to verify the sustainability of stock price rallies. Today’s trading volume of 23.75 million shares is 5.3 times the average daily trading volume of 4.5 million shares, showing obvious volume expansion [0]. This volume coordination is a positive signal for the breakout market, but it is necessary to observe whether the trading volume can remain at a high level in the future to confirm the sustainability of incremental capital inflow.

From the fundamental data perspective, Aisikai is currently in a strategic transformation period, and its financial status shows typical characteristics of an “investment period”. The price-to-book ratio (P/B) reaches 9.27 times, significantly higher than the industry average, indicating a relatively high valuation level [0]. In terms of profitability, the price-to-earnings ratio (P/E) is -367.79 times, the return on equity (ROE) is -2.69%, and the net profit margin is -7.11%. The company is currently in a loss-making state, and its profitability has not yet been realized [0].

However, the company’s financial structure is relatively stable. The current ratio is as high as 4.32, indicating strong short-term solvency and sufficient liquidity [0]. The debt risk is rated as low risk, and the financial structure is stable [8]. This “low debt, high cash” financial characteristic provides the necessary financial guarantee for the company’s continuous R&D investment in the 3D printing business, and also means that the company will not be forced to cut R&D expenses due to short-term performance pressure.

The company is building competitive advantages around three core technologies (piezoelectric inkjet printing technology, laser technology, and precision motion control). In the 3D printing field, the company has formed three business directions: first, sand mold 3D printing, with the Storm series equipment as the core, operating under the dual mode of equipment sales plus services; second, metal 3D printing, with the 8-laser printhead to be commercialized, suitable for high-value-added fields such as 3C digital products and low-altitude aircraft; third, ceramic 3D printing, cooperating with Weici Technology to develop segmented markets such as the art market [3].

The company’s strategic positioning is to transform from a single product seller to a leading service provider in the industry, and is committed to becoming an international first-class brand in the industrial printing field [3]. This strategic transformation takes time to complete, and there is a certain transmission cycle from technological breakthrough to performance realization.

Based on the above analysis, Aisikai faces the following main risks:

: The current P/B ratio is as high as 9.27 times, significantly deviating from the reasonable range of traditional valuation methods. This high valuation is based on the market’s growth expectations for the company’s future 3D printing business. If the business progress fails to meet expectations, the risk of valuation correction is relatively high [0].

: The company is currently in a loss-making state, and its profitability has not yet been realized. Although the 1024 printhead has entered the small-scale production stage, it has not yet started external sales, and the commercialization progress still needs to be observed [0]. Investors need to recognize that it takes time from technological breakthrough to the formation of large-scale revenue.

: The current stock price rally is obviously driven by the 3D printing concept, and investors need to be wary of the correction risk after the concept fades. In addition, the details of cooperation matters such as joint ventures have not yet met the disclosure standards for major events, and information transparency needs to be improved.

: The stock price has just broken through the 52-week high, with abundant short-term profit-taking orders, and there is pressure for technical correction. It is recommended to pay attention to the support strength at RMB 32.00 (the 50% retracement position of today’s increase) and RMB 28.34 (the 20-day moving average).

Despite the above risks, the company also shows growth opportunities that cannot be ignored. First, the import substitution opportunity brought by the localization breakthrough of core technologies. The 8-laser printhead has achieved 100% localization, which is of important strategic significance against the current background of domestic substitution. Second, the commercialization opportunity brought by the implementation of diversified cooperation. Agreements with partners such as Jinan No.2 Machine Tool Group, Weici Technology, and Aiding Intelligence are being gradually implemented, which is expected to be gradually converted into revenue growth. Third, the development opportunity brought by policy support. The company has received support from the government for key R&D projects, reflecting policy recognition of the company’s technical route.

Price Type	Price	Market Implication
Limit-Up	RMB 34.80	Today’s limit-up position (reached)
Psychological Resistance Level	RMB 35.00	Psychological resistance at integer level
First Support Level	RMB 32.00	50% retracement position of today’s increase
Strong Support Level	RMB 28.34	20-day moving average position
Stop-Loss Reference Level	RMB 27.00	Be cautious if breaking below the 20-day moving average

For investors focusing on this stock, it is recommended to focus on tracking the following matters: First, whether the trading volume can remain at a high level and whether the turnover rate can remain active to confirm the sustainability of incremental capital; second, pay attention to whether the limit-up can be sealed and changes in the sealing volume, which is a direct indicator to judge the strength of short-term capital; third, track the overall popularity of the 3D printing concept sector, as the sustainability of the sector linkage effect will affect the short-term stock performance; fourth, pay attention to the company’s subsequent announcements, especially the progress of joint venture establishment and directional private placement; fifth, track the progress of external sales of the 1024 printhead and the commercialization timetable of the 3D metal printhead, which are key verification indicators for fundamental improvement.

Aisikai’s strong performance today is jointly driven by three factors: the positive news of directional private placement, breakthroughs in the 3D printing business, and rising sector popularity. Technically, it shows an effective breakout pattern, and the MACD golden cross, expanded trading volume, and continuous inflow of main capital are all positive signals. However, investors need to pay attention to the following points: First, it is currently in a transition period between concept hype and fundamental improvement, and it still takes time for performance to be realized; second, the stock price has just broken through the 52-week high, and there is pressure for technical correction in the short term; third, the current valuation level is relatively high, and investors need to be cautious when chasing highs.

From a long-term perspective, the company’s strategy focuses on the 3D printing field, with competitive core technologies (localization breakthrough of printheads), and has growth potential against the background of domestic substitution and policy support. However, investors should recognize that there is an objective transmission cycle from technological R&D to large-scale revenue, and performance will not be realized overnight. It is recommended to continue to track key indicators such as the progress of external sales of the 1024 printhead, the commercialization timetable of the 3D metal printhead, and the business implementation of the joint venture.

: This report is only based on public information for analysis and does not constitute investment advice. The market has risks, and investment requires caution.