BLT's Q3 2025 revenue soared 121% with net profit surging, driven by explosive growth in its 3D printing consumer products business.
Xi'an Bright Laser Technology Co., Ltd. (Stock Code: 688333, Stock Abbreviation: BLT) released its third-quarter report for 2025. The financial data shows that the company achieved significant growth in both the third quarter and the first three quarters, with core indicators such as revenue and net profit performing strongly. The breakthrough in the consumer market has become a key growth driver, while the continuous expansion of the asset scale has laid a solid foundation for future development.
Explosive Growth in Revenue and Net Profit, Strong Growth Momentum
From a financial perspective, BLT's operational results for the third quarter and the first three quarters of 2025 can be described as "breakthrough." In the third quarter, the company achieved revenue of 494 million yuan, a sharp increase of 120.94% year-on-year. The net profit attributable to shareholders of the listed company reached 79.4352 million yuan, indicating a significant improvement in profitability.
When extending the timeframe to the beginning of the year until the reporting period (January–September 2025), the company's overall performance is even more outstanding:
Revenue scale reached a new high: Revenue for the first three quarters amounted to 1.161 billion yuan, a year-on-year increase of 46.47%, with both scale and growth rate steadily improving.
Profitability surged significantly: Total profit reached 157 million yuan, a dramatic year-on-year increase of 718.81%. Net profit attributable to shareholders of the listed company was 156 million yuan, up 234.83% year-on-year. Basic earnings per share were 0.5742 yuan/share, a year-on-year increase of 235.20%, reflecting significantly enhanced profit quality and shareholder return capability.
Continuous optimization of asset structure: As of September 30, 2025, the company's total assets reached 8.604 billion yuan, an increase of 18.10% compared to the end of 2024. The equity attributable to shareholders of the listed company was 4.932 billion yuan, up 2.37% from the end of 2024. While the asset scale expanded, the financial structure remained robust.
Regarding the core reasons for the performance growth, the financial report clearly stated that the company continues to expand into new application areas for 3D printing, with a focus on increasing efforts in the consumer market development. The revenue from customized 3D printing products in the consumer sector saw substantial growth, becoming the "core engine" driving the dual increase in revenue and profit.
R&D Focuses on Efficiency, Non-recurring Gains Boost Profitability
Behind the high growth in performance, the financial details of BLT are equally noteworthy, reflecting both the company's commitment to core technology and the supplementary role of non-recurring gains in profitability.
R&D Investment: Focus on Core Technology, Proportion Remains High in the Industry
In the first three quarters of 2025, the company's total R&D investment was 183 million yuan, a slight decrease of 2.12% year-on-year. However, the proportion of R&D investment to revenue remained at 15.77%, which is relatively high in the 3D printing industry, demonstrating the company's emphasis on technological innovation. In the third quarter alone, R&D investment was 57.7496 million yuan, accounting for 11.70% of the quarter's revenue. The investment direction was more focused on technology transformation guided by market demand in the consumer sector, enhancing the competitiveness of customized products.
Non-recurring Gains: Significant Contributions from Government Subsidies and Financial Asset Income
The financial report shows that in the first three quarters of 2025, the company's total non-recurring gains amounted to 46.5114 million yuan, mainly consisting of two parts: First, government subsidies included in current gains (excluding continuous subsidies closely related to normal operations) of 36.5858 million yuan, reflecting policy support for the company's 3D printing technological innovation. Second, gains from changes in fair value and disposal gains of financial assets held by non-financial enterprises amounted to 17.8897 million yuan, providing a supplement to the company's profitability. After deducting non-recurring gains, the net profit attributable to shareholders of the listed company in the first three quarters still reached 109 million yuan, indicating solid profitability from core business operations.
Leading Industrial 3D Printing Company with Full Industry Chain Layout
Xi'an Bright Laser Technology Co., Ltd., founded in 2011, is a leading domestic enterprise specializing in industrial-grade metal additive manufacturing (3D printing). It went public on the Sci-Tech Innovation Board (STAR Market) in 2019, becoming the "first stock in metal 3D printing." With the vision of "becoming a world-leading provider of additive manufacturing solutions," the company has deep expertise in the field of metal 3D printing and has established a full industry chain layout from "equipment, materials, software, services" to "application solutions."
BLT's core business covers the R&D and sales of metal 3D printing equipment, customized metal 3D printing product services, and the production and sales of metal 3D printing materials. Its technical routes cover mainstream metal additive manufacturing technologies such as Selective Laser Melting (SLM) and Laser Cladding (LC). Its products are widely used in aerospace, civil aviation, automotive, medical, energy, and other fields.
In terms of technological R&D, the company has accumulated hundreds of patents. Its self-developed metal 3D printing equipment performs at internationally advanced levels, enabling high-precision printing of various metal materials such as titanium alloys, high-temperature alloys, and aluminum alloys. This provides "bottleneck" technical solutions for high-end manufacturing fields. For example, in the aerospace sector, the company provides lightweight structural component printing services for multiple aircraft models, significantly reducing component weight and improving performance.
Based on the third-quarter 2025 financial report and annual results, BLT has successfully achieved explosive performance growth and market structure optimization. This not only validates the huge potential of metal 3D printing in the consumer sector but also consolidates the company's leading position domestically.
Looking ahead, with the increasing demand for lightweight, personalized, and rapid manufacturing driven by the transformation and upgrading of domestic manufacturing, coupled with the continuous growth of the global 3D printing market, BLT is poised to leverage its full industry chain advantages and breakthroughs in the consumer market to achieve a leap toward "global leadership." For investors, the company's high growth is sustainable, and its long-term growth value is worthy of expectation.
