ASKA Reports Revenue of CNY 190 Million in 2024, Fully Advancing in Sand, Ceramic, and Metal 3D Printing

On May 13, 2025, Panda3dp.com learned that ASKA (300521.SZ), a manufacturer of binder jetting sand/ceramic and SLM metal 3D printing equipment, recently released its 2024 annual financial report.

In 2024, the company recorded operating revenue of CNY 190.02 million, a year-on-year increase of 19.27% compared to CNY 159.33 million in 2023. This growth was primarily driven by significant breakthroughs in the R\&D of its 3D printing products and the continued stabilization of its production technologies, which led to an increase of approximately CNY 25 million in equipment sales. The company reported a net loss attributable to shareholders of CNY 3.04 million, narrowing from a loss of CNY 6.04 million the previous year. After deducting non-recurring gains and losses, the net loss attributable to shareholders was CNY 2.60 million, an improvement from CNY 6.70 million in 2023.

With the expanding business in 3D sand printing equipment, and the introduction of new products such as the 512 printhead, metal 3D printing heads, and ceramic 3D printers, the company expects continued revenue growth and strengthening profitability in the coming years.

1. CTP Business in 2024

In 2024, ASKA developed and shipped multiple units of the Vulcan 5080 flexographic laser plate engraver, based on its existing CTP models. This product integrates the newly developed Naja256 laser head, which combines high-power fiber laser technology with 256 independently controlled optical valves, surpassing previous power limitations. Equipped with laser ranging and voice coil motor autofocus technology, it resolves localized defocusing issues caused by plate thickness fluctuations.

The company also completed development and sales of 48×35 inch systems—sized for strong European and American market demand—and a 4000dpi model balancing efficiency and quality.

2. 3D Printing Equipment Overview

(1) Sand 3D Printing Equipment

In 2024, sales of 3D printing equipment increased by approximately 90% year-on-year. The company successfully mass-produced and sold the Storm S1800 3D sand printer, a compact, single-unit machine ideal for small and medium foundries due to its easy installation, transport, and commissioning.

Additionally, ASKA upgraded the T1800 model to T1812, specifically designed for continuous 3D sand printing lines. With a compact footprint and flexible layout, it caters to large foundries aiming to digitize mass casting with a more automated and cost-effective solution. Sales orders for the T1812 began in 2025. The company also partnered with a national research institute to test and mass-produce 3D printing-specific resins and sands.

Furthermore, ASKA’s independently developed BTHS2515 model officially entered the market in 2024, with an 8-unit production line deployed in Changzhou—an exemplary case of industrial upgrading in the foundry sector. More than a dozen new orders are already in hand. Designed for future smart factories, BTHS2515 features integrated track logistics and removable workboxes to align with Industry 4.0 standards. Another model, the T2515, has completed testing and is receiving sales orders.

Since 2018, ASKA has engaged in the 3D sand printing service sector by establishing joint ventures. These centers have become well-known service hubs in Central and Yangtze River Delta regions, with ASKA playing an active role in operations and business development in 2024.

(2) Metal 3D Printing Heads

Metal printing heads—comprising lasers, galvanometers, and dynamic focusing systems—are the core of metal 3D printers. High-end galvanometers are typically supplied by foreign vendors. In 2024, ASKA completed system-level optimization and testing of multi-laser metal printing heads, successfully printing components and achieving full domestic production of these critical components.

These heads are ideal for high-efficiency, cost-sensitive applications such as 3C electronics and shoe mold manufacturing, accommodating denser print head arrays across varying build areas.

In developing the galvanometer core, the company enhanced motor anti-collision protection, data transmission, and reduced signal delay. It also added automated diagnostics, signal shielding, and optimized the grounding system to reduce interference. Software upgrades enabled comprehensive status monitoring and parameter control. These refinements led to a 75% reduction in weight and size versus the previous generation, with 100% localization of key parts.

Using self-developed 8/12/16-channel metal printheads, ASKA significantly improved print efficiency and quality while reducing equipment costs. For instance, its shoe mold printer outperformed same-size competitors. This breakthrough mitigates reliance on imports and positions ASKA as a key player in the core hardware sector of metal 3D printing.

(3) Ceramic 3D Printing Equipment

ASKA's new T400 ceramic 3D printer was co-developed with Japan’s AGCC and aligned with a strategic joint venture plan with AGCC and Roland DG to expand in the Chinese ceramic printing market. The collaboration improved ceramic 3D printing processes and validated targeted applications in precision casting and art sectors.

The T400 serves as a cost-effective demo unit for potential customers to experience ceramic 3D printing. ASKA has also developed the mid-size T600 printer. Both T400 and T600 are now in mass production, with over 20 units sold domestically and internationally.

3. Printhead Projects

In 2024, the 512 printhead entered stable mass production, meeting internal demand for sand mold 3D printers and enabling 100% localization. It is also available for external sale. The 1024 printhead passed validation and entered small-batch production, undergoing testing in ASKA’s corrugated board printer.

The newly designed blade printhead is currently in testing. ASKA also developed a high-precision 4pl low-ink-volume head and an 80pl silicon printhead—both suitable for precision inkjet printing, thereby broadening the company’s product line.

In 2025, ASKA will accelerate development of MEMS process printheads and application-specific heads for the display and PCB industries, aiming to cover broader markets.

In conclusion, while maintaining stable production and sales of its core products, ASKA continuously invests in new product development. Given current R\&D and sales momentum, the company projects steady revenue growth over the next five years. Management affirms that there is no uncertainty regarding ASKA’s ability to continue as a going concern.